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 BES Intern is responsible for onboarding, maintaining, and updating
commercial mortgage files/pipeline report along with being responsible for
underwriting conventional commercial mortgages. They will also be responsible to
liaison between the Account Manager, Underwriting, Funding and Compliance
departments, ensuring compliance with the Company’s established lending
guidelines and requirements. Additional duties are also required including
providing the Manager with administrative and clerical support and supporting
the underwriting team in document fulfillment and due diligence tasks from
receipt of deal through to the funding stages. The incumbent will ensure
compliance with the Company’s established lending guidelines and specific deal
requirements.
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The Core Responsibilities Of The Job:
- (10%).- The incumbent will on board loans by adding loans to SIT and RAISE
platforms. Scrub the loan details against SFR watch/deny list and document
the Broker verification process. The incumbent will scrutinize the contents
of the file with a strong emphasis on anti-money laundering (AML) and
anti-terrorist financing (ATF) requirements, to assess if CIF merges are
required, review existing AML scores, ensure any STR/SATs are dealt with
accordingly and archive all documents received to date to Athena
- (10%) - Will be responsible to communicate with internal contacts (i.e.,
Account Managers, Underwriters, Funders, Compliance) and third-party
providers (i.e., Brokers, Partners, Clients) to obtain/review required AML
documentation and act as a liaison between various groups within the
department. Ensuring transactions are processed in a timely and efficient
manner to deliver superior customer service, while ensuring compliance with
the Company’s established AML policies and lending guidelines and
requirements. Completion of the Fintrac form prior to funding and recommend
to Management for approval.
- (10%) - Generate CAFs by updating loan details in SIT as per approved LPD
write ups and recommend to management for approval. Update statuses or
closing dates as requested, process good faith deposit cheques on SIT,
document loan cancellations on SIT, RAISE and Athena, prepare loan
cancellation memos for fee reimbursement for senior management approval and
cut reimbursement cheques from SIT or request wires from Funding.
- (20%) - On regular basis, assist the underwriters in preparation of draft
commitments, instructing the funding dept, income analysis and employment
verbal verifications, the incumbent is responsible for time management of
their workflow to meet prescribed deadlines.
- (25%) - Will assist with the timely and efficient collection of documents for
transactions by communicating with external contacts (i.e., partners,
brokers, sponsors) to ensure a deal is ready for underwriting and subsequent
funding. The incumbent will scrutinize the files to ensure accurate receipt.
The incumbent will also assist underwriters in the preparation of supporting
documentation required as part of a credit submission like industry
segmentation, aggregate exposure, and AML form.
- (25%) - The incumbent will analyze and underwrite commercial credit
facilities together with additional credit related and administrative duties,
for conventional commercial mortgage product types. Attention must be made to
ensure that compliance with the company’s established lending guidelines and
procedures are followed with recommendations submitted for approval to
management. The incumbent is responsible to ensure all lending criteria have
been satisfied on deals underwritten and outstanding
documentation/conditions, if any, are being met in a timely manner (25%)
Let's Talk About You!
- Currently enrolled in University or College program (Finance, Business,
Accounting or Economics is preferred)
- Extensive working knowledge of MS Office (Word, Excel, Outlook, Power Point)
- Strong analytical skills
- Strong organizational skills
- Ability to handle multiple competing priorities
- Good time management skills
- Highly developed verbal and written communication skills with the ability to
respond in a clear, concise, and professional manner
- Bilingualism is an asset
How To Submit Your Application!
- Your application must include your resume, cover letter and unofficial
transcript. Applications submitted incorrectly will not be considered.
- You MUST be a student currently enrolled in school to be eligible to apply.
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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
The incumbent will be working hybrid and in office time will be spent working
from Equitable Bank’s additional office space located at 2200-25 Ontario Street,
Toronto, ON.
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!
