Payments Administrator

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 acrossCanadathrough Equitable Bank,Canada'sChallenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions acrossCanadathat serve more than six million members. Together we have over$125 billionin 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 incumbent is responsible to accurately process financial transactions, including incoming and outgoing payments, which affect the repayment schedule of the mortgage and loan portfolio.
The Core Responsibilities
  • Process incoming payments received via multiple methods
  • Run and reconcile transaction verification reports
  • Ensure daily incoming payment and returned payment files are processed on time and accurately
  • Process line of credit (LOC)cheques by completing review (body of the cheque, limit, signature) according to company guidelines and banking regulations
  • Decision to honor/dishonor LOC cheques
  • Post daily payment transactions, electronic (EFT) payments, and make detailed notes in all required systems
  • Attend to HELOC requests including reprocessing of payments, charging fees, and investigating disputed LOC cheques
  • Investigate and communicate with FI (TD), IT, and other parties if issues arise and follow up for timely resolution
  • Accurately prepare reconciliation sheet for daily deposit and accounting
  • Post full payouts and principal paydowns accurately on the system of record
  • Calculate per diem interest in conjunction with receipt of payout funds and accurately identify shortfalls and overpayments requiring action

Let's Talk About You
  • Complete a degree or diploma program in a related discipline with a minimum of 2-3 years' experience in the mortgage industry
  • In depth knowledge of cheque clearing and collection process
  • Ability to confidently make decisions regarding cheque clearing items
  • In depth knowledge and understanding of company's payment hierarchy rules and application
  • Strong math and analytical skills
  • Strong attention to detail
  • Ability to meet tight deadlines
  • Ability to balance multiple priorities simultaneously
  • Strong organization skills
  • Provides superior customer service to its internal and external customers
  • Team oriented
  • Ability to solve problems and propose solutions
  • Knowledge of various software including Word, with intermediate excel skills being a must
  • Self-motivated with the ability to work with very little or no supervision

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

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