Join a Challenger
Being a traditional bank just isn’t our thing, so we challenge ourselves to get
creative in providing innovative banking solutions for Canadians.
How do we get there? With a talented team of inquisitive and agile challengers
that break through the status quo. So, if you’re passionate about redefining the
future of banking—while having fun—this could be your next big opportunity.
Our company continues to grow, and today 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 [https://www.eqbank.ca/]) one of the top banks in Canada on
the Forbes World's Best Banks list since 2021.
The Work
The Senior Account Manager, Special Loans and Restructuring, 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 at times 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 Senior Account Manager, Special Loans and Restructuring will provide direct
support to the Associate 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.
In addition, the incumbent will assist with completing site inspections as
required for portfolio management purposes and/or default loans.
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The Core Responsibilities!
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The incumbent will manage and/or administer complex delinquent and problem
commercial mortgages (generally loans exceeding $2.5MM) 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.
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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.
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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.
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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.
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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 policies 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,
with previous default experience preferred.
- 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.
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What 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 and personal days
?? 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 experience
Equitable Bank is deeply committed to inclusion. Our organization is stronger
and our employees thrive when we honour and celebrate everyone’s diverse
experiences and perspectives. In tandem with that commitment, we support and
encourage our staff to grow not just in their career path, but personally as
well.
We commit to providing a barrier-free recruitment process and work environment
for all applicants. Please let us know of any accommodations needed so that you
can bring your best self to the application process and beyond. All candidates
considered for hire must successfully pass a criminal background check and
credit check to qualify for hire. While we appreciate your interest in applying,
an Equitable recruiter will only contact leading candidates whose skills and
qualifications closely match the requirements of the position.
We can’t wait to get to know you!
