Skills

Communication Critical Thinking Customer Service Agile

Job Specifications

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 780,000 customers 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 $138 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 Underwriter 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 Underwriter 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 critical thinking and use their expert judgement to recommend or decline Single Family Residential Mortgages offered by the Bank’s third-party partners. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.

The Core Responsibilities!

The primary focus of this position is to perform the residential portfolio underwriting process from third party origination channels. Specific responsibilities include, but is not limited to, the following:

Recommending\Approving the purchase\Renewals of Single-Family Residential Mortgages originated from third party partnerships and Concentra’s Legacy direct lending business:

Review and analyze Alt-A residential mortgage loans credit file documentation (credit reports, income/employment documentation and funding documents, etc.) to assess application in accordance with Residential Mortgage Underwriting Guideline and other relevant policy/guideline and procedures.
The Underwriter must cross-reference the originator’s underwriting to both the RMMG – Third Party, as well as EQB’s internal Corporate Underwriting guidelines to ensure consistency.
The Underwriter 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.
Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings.

Builds and maintains relationships with both internal and external stakeholders:

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
Provide excellent customer service to other departments and third-party originators through professional written and verbal communication.
On a daily basis provide the highest level of internal and external customer service while fielding originator inquiries.
Directly responsible for updating third party originators of all interest rate changes/updates.
Designs, implements, and prepares reports, papers, plans, dashboards and templates for clients, senior management and multiple internal committees
Responsible for key metric reporting to Managing Director, Consumer Markets – includes non-conforming loans, exceptions, standard approval/declines and pre-approvals.
Working closely with internal departments to provide feedback and support recommendations to continually improve the effectiveness and efficiencies on internal processes
Works closely with internal departments to identify areas of opportunity/gaps in procedural guidelines and makes recommendations for effective changes.
Develops, implements, documents and evaluates processes and procedures across credit portfolios with internal teams
Stays current with latest industry knowledge, competition, and market trends

Helps support and maintain a robust fraud and compliance environment as an active and engaged member of the Banks first line of defense.

Ensure that a UAR (Unusual Activity Report) is submitted on loans suspected of containing fraud and perform risk assessments on a broader s

About the Company

Equitable Bank and its digital platform, EQ Bank, are dedicated to driving change in Canadian banking to enrich people's lives. As Canada's Challenger Bank(tm) and the seventh largest bank by assets, we provide outstanding personal and commercial banking experiences to customers and credit union members across Canada. Through EQ Bank, our customers have named us one of the top banks in Canada on the Forbes World's Best Banks list since 2021. Equitable Bank is a proud, wholly owned subsidiary of EQB Inc. (TSX: EQB), a leade... Know more