Commercial Mortgage Underwriter - BES

Equitable Bank - Toronto, ON (30+ days ago)

Apply Now

Canada's Challenger Bank™
If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.

Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $31 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 employees across the country.

Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.

Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.

Job Title: Commercial Mortgage Underwriter, BES (Business Enterprise Solutions)
Department: Credit & Risk Management
Reports To: Manager, Commercial Credit

Purpose of Job

As part of a growing, dynamic & solution-focused commercial team, the Commercial Mortgage Underwriter is responsible for underwriting conventional commercial mortgages (typically up to $2.5m). The underwriter must adhere to established policies and underwriting standards, meeting compliance and control requirements, while finding creative and service-oriented solutions in a timely manner in order to achieve department goals as well as annual target volumes. Additional credit-related and administrative duties are also required such as reporting and pipeline management (SIT). As well, networking with brokers and other external business partners along with various staff within the Credit & Risk group and other internal departments.

Main Activities:
  • On a daily basis, 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 (50%).
  • On a daily basis, the incumbent will communicate with internal contacts (funders, managers, administrators, and commercial sales staff) as well as external contacts (lending partners, mortgage brokers, solicitors, appraisers and consultants) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service and funding deadlines (30%).
  • On a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines (10%).
  • On a monthly basis, the incumbent will be responsible for various administration and reporting duties required for the department/Company which will be relied upon by Senior Management (10%).
Knowledge/Skill Requirements:
  • Bilingualism is an asset
  • Proficient underwriting skills with a minimum 2 years’ commercial mortgage experience and/or SFR underwriting experience
  • Demonstrated service excellence within their field
  • Post-secondary education (diploma/degree) preferred, preferably in business or finance
  • Good working knowledge of MS Office (primarily Word and Excel)
  • Effective analytical and problem solving skills
  • Strong business sense combined with sound technical knowledge of secured lending and factors affecting the commercial mortgage market
  • Excellent organizational and time management skills
  • Ability to handle multiple competing priorities while providing optimal customer service
  • Excellent communication skills, both oral and written
  • Ability and desire to attend broker related events as required (often, after hours)
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process. 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.