Residential Mortgage Officer, Bilingual

Equitable Bank - Montréal, QC (30+ days ago)

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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 $25 billion in assets under management. Most recently, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 600 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: Residential Mortgage Officer, Bilingual
Department: Single Family Residential Mortgage Department
Reports To: Manager, Residential Mortgage Fulfillment

Purpose of Job

The Residential Mortgage Officer is responsible for maintaining and updating mortgage files from the commitment approval stage to the time the loan is funded. This mainly includes the reviewing of files, correspondence with mortgage brokers to request outstanding documents and the adjudication of documents as per FINTRAC, internal AML/ATF guidelines and EQB policies and procedures. The Residential Mortgage Officer also plays an integral role in the mitigation of fraud within the Single Family Residential Department.

Main Activities:
  • On a daily basis, the incumbent will obtain and review required documentation with a strong emphasis on anti-money laundering (AML) and anti-terrorist financing (ATF) requirements, including but not limited to, income, down payment verification and client interviews. The incumbent will ensure that documentation adheres to corporate guidelines and will mitigate any concerns surrounding suspected misrepresentation when required. (35%)
  • On a daily basis, the incumbent will strive to ensure that mortgage files are in compliance with the Company’s established lending policies and procedures as well as ensuring that legal, AML and ATF requirements have been satisfied. (35%)
  • On a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines. Day-to-day the incumbent will make diligent use of reports to track and manage the flow of all deals funding for their team. (15%)
  • On a daily basis, the incumbent will communicate with internal contacts (underwriters, managers, administrators and mortgage sales staff) and external contacts (mortgage brokers and clients) to ensure transactions are processed in a timely and efficient manner in order to meet tight deadlines. The incumbent will provide the highest level of internal and external customer service while fielding mortgage broker and client inquiries. (10%)
  • On a daily basis, the incumbent will monitor changes to deals and update files as required. The incumbent must send correspondence to the appropriate parties apprising them of changes. The incumbent must also ensure that Quality Assurance requirements and Compliance review queries are dealt with in a timely and accurate manner. (5%)
Knowledge/Skill Requirements:
  • Completion of a post-secondary degree preferably in a financial field
  • 1-2 years’ mortgage experience in the alternative mortgage market
  • Sound thinker with the ability to multi-task; ability to handle multiple competing priorities
  • Excellent attention to detail
  • Ability to grasp AML & ATF practices
  • Established and meticulous organizational skills
  • Excellent time management, analytical and problem solving skills
  • Ability to make complex decisions under pressure
  • Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
  • Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
  • Committed to providing superb customer service
  • Proficiency in MS Office (mainly MS Word and Excel)
  • Detailed knowledge of mortgage funding and quality assurance processes
  • Ability to comprehend and assess documentation relating to mortgage down payment and borrower income confirmation
  • Mindful awareness of fraud risk in the mortgage industry and the ability to address concerns relating to suspected misrepresentation when required
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.