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Account Manager, Special Loans and Restructuring

1 month ago

Toronto, Canada Equitable Bank Full time

The core parts of your role would be to:

Manage and/or administer delinquent and problem commercial mortgages (generally Small Commercial loans ranging up to $ 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 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.Perform, review, and correlate 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.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 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.Ensure timely preparation of various reports that may be 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.Actively work with 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 policies and procedures and/or other related initiatives to deliver superior service to all stakeholders.

Let’s Talk About You

Have a minimum of 3-5 years of commercial mortgage experience or related, with previous default experience preferred.Business degree or a related discipline, and/or a CPA or similar professional designation or equivalent work experienceUnderstanding of mortgage enforcement remedies and foreclosures across CanadaEffective analytical and problem solving skillsSound technical knowledge of secured lending and factors affecting the commercial mortgage market, with strong understanding of end to end processesEstablished and meticulous time management and organizational skillsSound multi-tasking skills with strong attention to detail when handling multiple competing priorities under tight timelinesProven ability to thrive in a constant changing environment and ability to perform under a high intensity environmentSelf starter with the ability to work independentlyDeveloped and effective negotiation and communication skills, both oral and writtenExcellent presentation skills and ability to professionally communicate with Senior Management and other stakeholders (both internal and external)Proficient in MS OfficePossess a valid driver’s license. Ability to travel within the provinces, with some overnight travel required from time to time.#LI-HybridWhat we offer [For full-time permanent roles] Competitive discretionary bonus Market leading RRSP match program Medical, dental, vision, life, and disability benefits Employee Share Purchase Plan Maternity/Parental top-up while you care for your little one Generous vacation policy, personal days and even a moving day Virtual events to connect with your fellow colleagues Annual professional development allowance and a comprehensive Career Development program A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experienceThe incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.

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