Coordinator, Commercial Mortgage

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 $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 Co-ordinator - CMHC
Department: Credit & Risk Management
Reports To: Senior Manager, Commercial Credit

Purpose of Job

The Commercial Mortgage Co-ordinator is responsible for the day-to-day maintenance of a variety of commercial mortgage pipelines and reports, which are designed to track loan originations, loan securitization pools and loan maturities. Duties include preparing daily, weekly and monthly management reports, contacting Lending Partners to follow up on and administering renewals and loan extensions on SIT. Additional duties include loan set-up in SIT, renewal and extension processing in SIT, and special projects required by senior management. These duties will involve liaising with Lending Partners as well as staff within the Credit & Risk Management group and other internal departments.

Main Activities:
  • 30% - 35% - On a daily basis, the incumbent will be responsible for maintaining the currency of all departmental pipeline reports. The incumbent will be responsible for the preparation of specific departmental pipeline reports that will be relied upon by Management. This entails regular communication and follow-up with Lending Partners and various internal colleagues to ensure that timely status updates on securitization pools and loan maturities are recorded.
  • 20% On a daily basis, the incumbent is responsible for processing loan maturities, extensions and renewals as well on SIT on a timely basis to meet the requirements of securitization and origination timelines. The incumbent will ensure that all conditions precedent to renewal are met which entails follow-up with Lending Partners to ensure that all required documentation is received, and that all renewing mortgages meet EQB’s AML guidelines and standards.
  • 15% On a daily basis, the incumbent is responsible for prompt set-up of new loans on SIT as well as data management and the processing of CAFS for all approved loans.
  • 10% On an ongoing basis, the incumbent is responsible for review and recommendation for updates and enhancements to all pipelines and other reporting tools. This includes designing and formatting Cyberquery and Excel-based reports.
  • 10% On a daily basis, the incumbent will assist other members of the underwriting team with input and set-up of new credit risk analyses.
  • 10% - On a daily basis, the incumbent is responsible for time management of their work flow in order to meet prescribed deadlines.
Knowledge/Skill Requirements:
  • Post-secondary education, and/or equivalent working experience, preferably in business or finance, is required
  • Minimum 1-2 years’ experience in financial services
  • Experience in management reporting is considered an asset
  • Strong working knowledge of MS Office (Word, , Outlook, PowerPoint)
  • Extensive working knowledge of Excel and Cyberquery. Proficiency with Excel macros is considered an asset
  • Strong analytical skills
  • Strong organizational skills
  • Ability to handle multiple competing priorities
  • Excellent time management skills
  • Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
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.