Senior Credit Underwriting Analyst

3 weeks ago

Calgary, Alberta, 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 Senior Credit Underwriting Analyst is responsible for reviewing/recommending/approving/declining Alt-A mortgages originated from third party channels; and renewals from the prime portfolios, within their delegated credit limits. As a key member of the RESL team, the Analyst is responsible for assisting in the engagement of the third-party originators/servicers and the Credit adjudication process of the bank's residential mortgages. This position requires ability to analyze each mortgage deal with a high degree of professional skepticism and use their expert judgement to recommend or decline Single Family Residential Mortgages offered by the Bank's third-party partners.
The Core Responsibilities
  • Review and analyze Alt-A residential mortgage loans credit file documentation (credit reports, income/employment documentation and funding docs, etc.) to assess application in accordance with Residential Mortgage Underwriting Guideline and other relevant policy/guideline and procedures.
  • The Senior Credit Underwriting Analyst makes credit recommendations/approvals on individual mortgage deals reviewed in line with current delegated authority limits.
  • Review mortgage data accuracy/integrity to ensure the information is consistently captured and documented in accordance with internal standards.
  • Prioritizes applications and workflow to ensure consistent and sound risk assessments are maintained while managing high volumes and a continued focus on service excellence.
  • Establishes and maintains positive relationships with mortgage originators to build loyalty to the Bank.
  • Ensure that a UAR (Unusual Activity Report) is submitted on loans suspected of containing fraud and perform risk assessments on a broader scale, when identified.
  • Assist in the identification of new and evolving fraud trends or systematic issues and patterns.
  • Timely escalation/reporting of any evidence of fraud identified through detailed review which may impact other areas of the business.

Let's Talk About You
  • University degree or equivalent - preferably in finance, business, or a related field.
  • A minimum of three to five years in a related role pertaining to residential mortgage origination (underwriting and operational).
  • Sound knowledge and understanding of Alt-A products, operations, processes, services, systems and associated risks and controls.
  • Demonstrated ability to review residential mortgage documentation, audit, perform analyses, validate, and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
  • Extensive knowledge of underwriting best practices and applying them to their day-to-day work.
  • In-depth understanding of Residential Mortgages underwriting processes and requirements.
  • Sound understanding of Mortgage related regulatory requirements (OSFII B20, AML/ATF), and Mortgage Insurer requirements (CMHC, Genworth).
  • PC skills including Microsoft Outlook, Word, Excel, Power Point, related applications, and other software applications used within the organization.
  • Excellent organizational skills and ability to complete responsibilities in a busy and time sensitive environment.
  • Strong analytical skills.
  • Strong verbal and written communication skills.
  • Attention to detail and an ability to identify potential problems within files.
  • Strong interpersonal skills.
  • Work effectively in a team setting to accomplish goals and complete tasks.

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

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