Special Loans and Restructuring Manager

4 weeks ago

Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time
Join a Challenger
Being a traditional bank just isn't our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what's possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you're not afraid of taking on big challenges and redefining the future, you belong with us. You'll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing) family. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca ) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
The Work
The Special Loans and Restructuring Manager, is responsible for managing commercial default files, certain commercial loans designated as "problem accounts", which include but are not limited to conventional and construction facilities while adhering to underwriting standards and the Company's policies and procedures (including AML requirements, as applicable). The incumbent is responsible for enforcing the conditions of the mortgage contract on facilities in default as directed by Management, while providing proactive and efficient resolutions/work out strategies to avoid legal action when feasible while minimizing losses to the Bank. The incumbent will act as the key primary contact for communicating and co-operating with both internal and external stakeholders (such as legal counsel, real estate agents, brokers, partners and other internal departments within the Bank) and representing the Bank in the professional community to ensure transactions are processed in a timely and efficient manner.
The Special Loans and Restructuring Manager will support to the Director, Special Loans and Restructuring by performing a variety of functions associated with default management, including underwriting/credit analysis, portfolio management/monitoring, reporting, projects and initiatives and other administrative duties, which may include ad hoc requests by Senior Management. As well as providing training, guidance, and support to other members of the team.
In addition, the incumbent will assist with completing site inspections as required for portfolio management purposes and/or default loans.
The core parts of your role would be to:
  • The incumbent will manage and/or administer complex delinquent and problem commercial mortgages (generally loans exceeding $5MM+) while minimizing losses to the Bank, process loans for legal action for non-payment (including past maturities, tax arrears, insurance cancellations, bankruptcies/liens, etc.) and conduct full financial review prior to recommending appropriate legal remedies to Senior Management, manage legal action loans and enforce on remedies/conditions as warranted, while ensuring compliance with established default/workout strategies are implemented in a timely and efficient manner. Liaising with key stakeholders, both internal and external, will be a key responsibility, and forms part of determining and negotiating successful workout strategies
  • The incumbent is responsible for performing, reviewing and correlating all aspects of underwriting (including collateral analysis and valuation) for defaulted loans and problem accounts, while ensuring that each submission addresses heightened risk elements, as identified, including monitoring and ensuring risk ratings on default loans are updated timely and reported to the appropriate internal stakeholders
  • The incumbent will work closely with the Mortgage Services team and provide assistance to manage, monitor and/or resolve commercial delinquencies and certain default loans deemed to be non-performing, while providing timely updates to Senior Management as warranted
  • There may be circumstances where the incumbent will assist in providing direct oversight on properties that are held by the Bank for recovery purposes
  • The incumbent will also be responsible to ensure timely preparation of various reports required by Senior Management, the Board of Directors and external regulators (such as quarterly Problem Loan reports, monthly classified and watchlist reports, monthly arrears monitoring reports, provisioning reports, loan monitoring reporting etc.) including ad hoc reporting or analysis as required by Management
  • The incumbent will actively work with Senior Management to continuously strive for operational efficiency and implement improvement measures to ensure departmental requirements are met on a timely and effective manner. This may include participating and/or launching ad hoc projects, establishing new polices and procedures and/or other related initiatives to deliver superior service to all stakeholders

Let's Talk About You
  • Have a minimum of 5-7 years of commercial mortgage experience or related
  • Minimum 2 years' defaults experience
  • Business degree or a related discipline, and/or a CPA or similar professional designation or equivalent work experience
  • Understanding of mortgage enforcement remedies and foreclosures across Canada
  • Effective analytical and problem solving skills
  • Sound technical knowledge of secured lending and factors affecting the commercial mortgage market, with strong understanding of end to end processes
  • Established and meticulous time management and organizational skills
  • Sound multi-tasking skills with strong attention to detail when handling multiple competing priorities under tight timelines
  • Proven ability to thrive in a constant changing environment and ability to perform under a high intensity environment
  • Self starter with the ability to work independently
  • Developed and effective negotiation and communication skills, both oral and written
  • Excellent presentation skills and ability to professionally communicate with Senior Management and other stakeholders (both internal and external)
  • Proficient in MS Office
  • Possess a valid driver's license. Ability to travel within the provinces, with some overnight travel required from time to time

Job Complexities/Thinking Challenges
  • The position requires the incumbent to demonstrate the ability to make sound decisions and recommendations accurately and efficiently with often limited information available in a timely manner. The incumbent shall possess strong cognitive and professional judgement upon which they can rely in the ongoing management of their portfolio. The incumbent is required to follow corporate policies, procedures and regulatory requirements in order to work through files and rationalize the recommendations or decisions made. The incumbent will also experience the common day to day challenges that come with default management and will be required to be a quick learner and strategic thinker to ensure timely resolution on problem loans, while managing multiple defaults, many of which are time sensitive and unique in nature. The incumbent will need to draw on market knowledge to assess suitable solutions

What we offer (For full-time permanent roles)
Competitive discretionary bonus
Market leading RRSP match program

  • Special Loans and Restructuring Expert

    3 days ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time $5

    We are seeking an experienced Special Loans and Restructuring Expert to join our team at EQ Bank | Equitable Bank. As a key member of the Default Loan Portfolio Management team, you will be responsible for managing commercial default files and problem accounts, ensuring compliance with established default/workout strategies and regulatory...

  • Special Loans and Restructuring Manager

    3 weeks ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time

    Join a ChallengerBeing a traditional bank just isn't our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what's possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things....

  • Senior Loan Restructuring Manager

    3 days ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time

    About UsAt Equitable Bank, we're not just a bank - we're a team of innovators dedicated to creating a better banking experience for Canadians. With over 50 years of history and a presence across Canada, we've established ourselves as a leader in the industry.Our team is passionate about transforming the banking experience and providing our customers with...

  • Special Loans and Restructuring Lead

    4 weeks ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time

    Job Description:We are a challenger bank that innovates the banking experience for Canadians. Our team consists of inquisitive and agile minds that find smarter ways of doing things.The Special Loans and Restructuring Lead will manage commercial default files, problem accounts, and enforce mortgage contract conditions while minimizing losses to the Bank....

  • Loan Portfolio Manager

    1 day ago

    Toronto, Ontario, Canada Scotiabank Full time

    We are looking for a Loan Portfolio Manager to oversee the efficient and effective maintenance of a designated portfolio of loans at an acceptable level of risk.In this role, you will be responsible for ensuring the credit quality, conditions, and collection activity of the loan portfolio, thereby ensuring loan losses are minimized.You will exercise sound...

  • Director, Special Loans and Advisory Services

    7 days ago

    Toronto, Ontario, Canada RBC - Royal Bank Full time

    Job SummaryThe Director, Special Loans and Advisory Services (SLAS) provides day to day management of RBC's global high risk portfolio of Capital Markets accounts, with a focus on minimizing RBC losses while maximizing desired client retention. This individual manages complex and/or higher risk accounts, typically syndicated transactions (as Agent or...

  • Loan Manager

    1 day ago

    Toronto, Ontario, Canada Windmill Microlending Full time

    Windmill Microlending provided pay rangeThis range is provided by Windmill Microlending. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.Base pay rangeCA$55,000.00/yr - CA$60,000.00/yrAbout Windmill Microlending:Windmill Microlending enables immigrants and refugees to build careers in Canada while...

  • Specialized Mortgage Collections Manager

    6 days ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time $5

    OverviewAs a key player in Canada's FinTech industry, EQ Bank | Equitable Bank is dedicated to driving change in Canadian banking. With over $125 billion in combined assets under management and administration, we serve over 670,000 Canadians across the country through our digital platform, EQ Bank.Job SummaryThe Special Loans and Restructuring Manager plays...

  • Senior Loan Restructuring Manager

    6 days ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time $5

    About the RoleWe are seeking an experienced Commercial Mortgage Specialist to join our team at EQ Bank | Equitable Bank. As a key member of our Default Management team, you will be responsible for managing commercial default files, problem accounts, and non-performing loans. Your primary objective will be to minimize losses to the bank while ensuring timely...

  • Commercial Loan Recovery Specialist

    6 days ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time $5

    Company OverviewAt EQ Bank | Equitable Bank, we're revolutionizing the banking experience. As a leader in Canada's Challenger Bank sector, we've served over 670,000 Canadians for more than 50 years through our wholly-owned subsidiary, Concentra Bank, which supports credit unions serving six million members.Job DescriptionThe Special Loans and Restructuring...

  • Director, Special Loans and Advisory Services – Capital Markets

    3 days ago

    Toronto, Ontario, Canada Royal Bank of Canada> Full time

    Job SummaryThe Director, Special Loans and Advisory Services (SLAS) provides day to day management of RBC's global high risk portfolio of Capital Markets accounts, with a focus on minimizing RBC losses while maximizing desired client retention. This individual manages complex and/or higher risk accounts, typically syndicated transactions (as Agent or...

  • Special Loans and Restructuring Manager

    4 weeks ago

    Toronto, Ontario, Canada EQ Bank | Equitable Bank Full time

    The growth in renewables and energy transition requires flexible generation and long-duration energy storage. The Bechtel Heavy Civil Infrastructure business is responding to this global challenge and growing its capability in the development and construction of Hydropower and Pumped Storage projects globally.Bechtel is engaging in several pumped storage...

  • Special Loans and Advisory Services Representative

    7 days ago

    Toronto, Ontario, Canada RBC Full time

    Job SummaryWe're seeking an experienced Account Officer to join our Special Loans & Advisory Services team in the Commercial Markets department. As an Account Officer, you'll be responsible for providing exceptional support to Senior Managers, ensuring seamless day-to-day operations and facilitating transaction execution.Key ResponsibilitiesManage client...

  • Restructuring and Insolvency Lawyer

    4 days ago

    Toronto, Ontario, Canada Ignite Talent Solutions Full time

    Restructuring and Insolvency Lawyer (Hybrid)Job descriptionJoin our client, an elite boutique specializing in commercial restructuring, litigation, and business law based in Downtown Toronto. Their experienced team of former Bay Street practitioners offers practical solutions to complex issues. Services span from commercial litigation to insolvency,...

  • Restructuring & Insolvency Lawyer

    3 weeks ago

    Toronto, Ontario, Canada The Heller Group Legal and Executive Search Full time

    An international firm is seeking an insolvency and restructuring lawyer to join their well-established team. The ideal candidate will have 3 to 5 years of experience with commercial bankruptcies, receiverships, and formal and informal debt restructurings. This role could also suit an experienced corporate transactional lawyer who is looking to pivot to this...

  • Restructuring & Insolvency Lawyer

    4 weeks ago

    Toronto, Ontario, Canada The Heller Group Legal and Executive Search Full time

    An international firm is seeking an insolvency and restructuring lawyer to join their well-established team. The ideal candidate will have 3 to 5 years of experience with commercial bankruptcies, receiverships, and formal and informal debt restructurings. This role could also suit an experienced corporate transactional lawyer who is looking to pivot to...

  • Restructuring & Insolvency Lawyer

    3 weeks ago

    Toronto, Ontario, Canada The Heller Group Legal and Executive Search Full time

    An international firm is seeking an insolvency and restructuring lawyer to join their well-established team. The ideal candidate will have3 to 5 yearsof experience with commercial bankruptcies, receiverships, and formal and informal debt restructurings. This role could also suit an experienced corporate transactional lawyer who is looking to pivot to this...

  • Restructuring & Insolvency Lawyer

    3 weeks ago

    Toronto, Ontario, Canada The Heller Group Legal and Executive Search Full time

    An international firm is seeking an insolvency and restructuring lawyer to join their well-established team. The ideal candidate will have3 to 5 yearsof experience with commercial bankruptcies, receiverships, and formal and informal debt restructurings. This role could also suit an experienced corporate transactional lawyer who is looking to pivot to this...

  • Commercial Restructuring and Insolvency Specialist

    4 days ago

    Toronto, Ontario, Canada Ignite Talent Solutions Full time

    **Company Overview**Ignite Talent Solutions is a boutique firm specializing in commercial restructuring, litigation, and business law based in Downtown Toronto. Our team of experienced practitioners offers practical solutions to complex issues.**Job Description**This role offers a diverse scope, encompassing both Insolvency and Restructuring across...

  • Restructuring & Insolvency Lawyer

    4 weeks ago

    Toronto, Ontario, C6A, Ontario, Canada The Heller Group Legal and Executive Search Full time

    An international firm is seeking an insolvency and restructuring lawyer to join their well-established team. The ideal candidate will have 3 to 5 years of experience with commercial bankruptcies, receiverships, and formal and informal debt restructurings. This role could also suit an experienced corporate transactional lawyer who is looking to pivot to this...