Securitization Administration Manager
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Job Summary
At EQ were remaking banking so every Canadian gets ahead every day. Serving nearly 4 million Canadians from coast to coast we offer a wide variety of financial services from banking and lending to trust and credit union solutions.
Weve been at this since 1970 challenging the conventions of traditional banking with smarter faster and more connected financial experiences.
Whats kept us moving The people behind it all: challengers who ask better questions push back on old assumptions and look for a better way forward.
If youre driven to help reshape how banking works for Canadians and the businesses that power our economy this could be your next big opportunity. We cant wait to get to know you!
We cant wait to get to know you!
Focusing on the accounting reporting and financial analysis of the Banks securitization activities.
Develop a strong understanding of securitization profit calculations and accounting.
Follow established accounting practices to ensure that the financial and operating reports accurately reflect the condition of the securitization business in accordance with accounting standards.
Assist with the routine accounting processes for the securitization activities of both Equitable Bank and Equitable Trust; ensuring timely and accurate accounting and reporting of financial results
Oversee the accounting for creation issuance and settlement of new NHA MBS pools
Oversee daily cash tracking and balancing of servicer partners including bank reconciliations
Ensure timely and accurate accounting and reporting on Covered Bonds activities.
Support the monitoring of securitization regulations to identify new or changing requirements evaluate the applicability of the requirements to the Bank and then assisting with the modification or establishment of new data sources/systems/processes to accommodate and comply with the requirements
Provide support to the Accounting group assisting them with their mandate in establishing appropriate accounting for the Banks securitization activities; including NHA MBS and Covered Bonds.
Key contributor to the financial statement close process through the preparation of monthly accounting schedules
Assist in the preparation of month-over-month variance analysis in financial results and program profitability
Assist with the preparation of financial statements notes and other disclosure requirements on a quarterly basis
Respond to accounting inquiries providing ad hoc analysis for use in management decisions
Support compliance interactions with government agencies and external auditors including reviews audits and other communications
Identify opportunities for process improvement and assist in the implementation of recommended changes including training of team members.
Support new securitization initiatives by working closely with Capital Markets and other relevant stakeholders
Ensure effective and efficient staff performance by providing ongoing support and guidance as well as coordinating scheduling and reviewing the contribution of direct reports
Liaise with other departments and external stakeholders. Internal interactions may include but are not limited to Accounting group Capital Markets Treasury Prime Single Family and Commercial Lending Compliance and Internal Audit IT BA and Project Management and Financial Planning and Analysis
External interactions may include but are not limited to Strategic partners and service providers CMHC Computershare and external auditors
Post-secondary education and professional designation in Accounting (CPA)
A minimum of 5 years of experience in accounting or financial reporting at a financial institution with at least 2 years in a leadership role
Knowledge of/experience with CMHC sponsored NHA MBS and CMB securitization programs would be an asset
Strong technical aptitude with a proven understanding of cash flow modeling
Possesses strong leadership skills with an ability to work independently influence and engage across the organization
Experience with execution of complex financial reporting requirements preferably securitization related
Experience in the mortgage industry and securitization preferred
Experience with data management and reporting systems
Experience in process development and controls management
Specific Attributes
Possesses strong analytical abilities and very detailed oriented
Outstanding interpersonal skills with ability to build solid relationships with other members of the Finance department business unit representatives and internal and external stakeholders
Excellent verbal and written communication skills with the ability to communicate clearly and concisely
Strong organizational skills with the ability to prioritize multiple tasks and meet tight deadlines within a fast-paced environment
Independent thinker and self-starter who will be able to work independently and exercise good professional judgment
Ability to identify and drive process improvements maintaining a strict control environment
Proficient computer skills (advanced Microsoft Excel Access Word and accounting systems
Job Complexities/Thinking Challenges:
The ability to learn quickly and develop knowledge and understanding of mortgage securitization through the CMHC NHA MBS and CMB programs
The Manager Securitization must be comfortable with complex and nuanced transactions that require innovative thinking and the development of tailored/customized solutions
The Manager Securitization is expected to develop a strong understanding of the Banks securitization operations and accounting
Strong process related skills would be beneficial to identify and assess process improvement opportunities and assist with the development and execution of solutions
Must be able to communicate clearly and provide thoughtful insights
The incumbent will operate under the management and guidance of the Director Securitization assisting in the effective management of nearly $40 billion securitized mortgage portfolio contributing approximately $100 million to the Banks income.
The incumbent will work closely with the following stakeholders:
Senior Director Finance and the accounting team on accounting policy and financial reporting
Managing Director Capital Markets in coordinating the Banks securitization activities
Senior Director Financial Planning & Analysis in the development and maintenance of portfolio and profitability analysis
The Manager Securitization will be accountable for:
Meeting the organizations expectations for productivity quality and objectives
Contributing to a team culture that works collaboratively with internal and external stakeholders
Working with the team to collectively deliver on the teams goals
Participating in target setting regular touch base meetings performance development planning and formal semi-annual performance reviews
All reporting is extremely time sensitive and can directly impact the Banks funding programs.
Normal office environment with no physical demands. However there is substantial pressure at times placed on the incumbent due to the time sensitivity of certain transactions and reporting requirements. Hybrid work environment with 3 days in office required per week.
Equity Diversity & Inclusion
EQ is committed to building an inclusive accessible environment where every employee feels valued respected and supported. We believe our organization is stronger and our people thrive when we honour and celebrate diverse experiences identities and perspectives. Were equally committed to supporting your growth both professionally and personally.
We provide a barrierfree recruitment process and work environment. If you require accommodations at any stage we will work with you to ensure you can bring your best self to the process and beyond.
As part of our recruitment process EQ uses AI to help screen assess and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.
EQB Inc. (TSX: EQB) is the parent company of Equitable Bank the countrys seventh-largest Schedule I bank by assets which operates EQ Bank Canadas Challenger Bank. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.
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Required Experience:
Manager
About Company
At Equitable Bank, we specialize in providing branchless financial services that meet the unique needs of all Canadians. Our range of mortgages, savings accounts and investment options are designed to offer the right solutions to match any unique circumstance.
