Commercial Underwriting Manager, Business Enterprise Solutions (BES)

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 800,000 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 $142 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 As part of a growing, dynamic & solution-focused commercial team, the Commercial Mortgage Underwriter is responsible for underwriting conventional commercial mortgages (typically up to $5-7m). 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/RAISE). As well, networking with brokers and other external business partners along with various staff within the Credit & Risk group and other internal departments. What we offer [For full-time permanent roles] 💰 Competitive discretionary bonus ✨ Market leading RRSP match program 🩺  Medical, dental, vision, life, and disability benefits 📝  Employee Share Purchase Plan 👶🏽 Maternity/Parental top-up while you care for your little one 🏝 Generous vacation policy and personal days 🖥  Virtual events to connect with your fellow colleagues 🎓  Professional development and comprehensive Career Development program 💛  A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 2200-25 Ontario Street, Toronto, ON. Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well. We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. 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. We can’t wait to get to know you! The core parts of your role would be to: 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. Site inspections of properties or drive-by inspections may be required, on a deal-to-deal basis. (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%). Let's Talk About You! Bilingualism is an asset Proficient underwriting skills with a minimum 3 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 Good business sense combined with sound technical knowledge of secured lending and factors affecting the commercial mortgage market Good organizational and time management skills Good understanding of regulatory, compliance, AML and privacy policies 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) Access to a vehicle for site inspection Job Complexities/Thinking Challenges The position requires the incumbent to be a self-starter and make sound underwriting decisions as efficiently as possible. Commercial mortgage applications can be complex in nature, requiring creative and innovative thinking and proactive problem solving. Potential loan restructuring and negotiations can be required on deal-to-deal basis. The incumbent is required to follow corporate policies, procedures and regulatory requirements in order to work through files and rationalize the recommendations or decisions made. The ability to clearly identify material risks and outline the mitigating factors that form their ultimate recommendations to Management. In some cases, viability is assessed with limited access to information or documentation. Strong relationship management skills are required. The incumbent must exhibit a confident and knowledgeable approach in interactions with Partners/Broker/Client. Maintaining a balance between providing high level of customer service, meeting performance service level metrics, supporting the Origination team while upholding integrity and ensuring credit decisions are thoroughly assessed, and concerns are addressed as they arise and escalated when appropriate.

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      "text": "The core parts of your role would be to:",
      "content": "\n<li>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%).</li>\n<li>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. Site inspections of properties or drive-by inspections may be required, on a deal-to-deal basis. (30%).</li>\n<li>On a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines (10%).</li>\n<li>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%).</li>\n"
    },
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      "text": "Let's Talk About You!",
      "content": "\n<li>Bilingualism is an asset</li>\n<li>Proficient underwriting skills with a minimum 3 years’ commercial mortgage experience and/or SFR underwriting experience</li>\n<li>Demonstrated service excellence within their field</li>\n<li>Post-secondary education (diploma/degree) preferred, preferably in business or finance</li>\n<li>Good working knowledge of MS Office (primarily Word and Excel)</li>\n<li>Effective analytical and problem solving skills</li>\n<li>Good business sense combined with sound technical knowledge of secured lending and factors affecting the commercial mortgage market</li>\n<li>Good organizational and time management skills</li>\n<li>Good understanding of regulatory, compliance, AML and privacy policies</li>\n<li>Ability to handle multiple competing priorities while providing optimal customer service</li>\n<li>Excellent communication skills, both oral and written</li>\n<li>Ability and desire to attend broker related events as required (often, after hours)</li>\n<li>Access to a vehicle for site inspection</li>\n"
    },
    {
      "text": "Job Complexities/Thinking Challenges",
      "content": "\n<li>The position requires the incumbent to be a self-starter and make sound underwriting decisions as efficiently as possible. Commercial mortgage applications can be complex in nature, requiring creative and innovative thinking and proactive problem solving. Potential loan restructuring and negotiations can be required on deal-to-deal basis. The incumbent is required to follow corporate policies, procedures and regulatory requirements in order to work through files and rationalize the recommendations or decisions made. The ability to clearly identify material risks and outline the mitigating factors that form their ultimate recommendations to Management. In some cases, viability is assessed with limited access to information or documentation. Strong relationship management skills are required. The incumbent must exhibit a confident and knowledgeable approach in interactions with Partners/Broker/Client. Maintaining a balance between providing high level of customer service, meeting performance service level metrics, supporting the Origination team while upholding integrity and ensuring credit decisions are thoroughly assessed, and concerns are addressed as they arise and escalated when appropriate.</li>\n"
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