Commercial Mortgage Analyst, CMHC (14-month contract)

Equitable Bank - Toronto, ON (30 days ago)

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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 $33 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 Analyst, CMHC

Department: Credit & Risk Management

Reports To: Associate Manager, CMHC Portfolio Management

Duration: 14-months

Purpose of Job

As part of a growing and dynamic commercial team, the Commercial Mortgage Analyst is responsible for underwriting annual reviews for CMHC-insured commercial mortgages. The Underwriter must adhere to established policies and underwriting standards, meeting compliance and control requirements, while finding creative solutions in a timely manner in order to achieve service goals as well as annual target volumes. Additional credit-related and administrative duties are also required such as reporting and pipeline management as well as networking with external business partners along with various staff within the Commercial department & other internal departments.

Main Activities:
70% On a daily basis, the incumbent will analyze and underwrite annual reviews for mortgage loans within the CMHC-insured portfolio. This will include the initial migration of existing loans to a new underwriting platform. Attention must be made to ensure compliance with the company’s established lending guidelines and procedures. The incumbent will submit prepare an annual review submission for approval by management.
20% On a daily basis, the incumbent will communicate with external contacts (origination partners) and internal contacts (managers, administrators, and other commercial mortgage staff) to ensure that annual reviews are processed in a timely and efficient manner.
10% On a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines.

Knowledge/Skill Requirements:
  • Bilingualism is an asset
  • 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
  • Established organizational skills
  • Ability to handle multiple competing priorities
  • Good time management skills
  • Excellent communication skills, both oral and written
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.