Senior Credit Underwriting Analyst

Regina - Canada

Monthly Salary: Not Disclosed

Posted on: Yesterday

Vacancies: 1 Vacancy

Job Summary

Join a Challenger

Being a traditional bank just isnt 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 youre passionate about redefining the future of bankingwhile having funthis could be your next big opportunity.

Our company continues to grow and today we serve more than 780000 customers acrossCanadathrough Equitable BankCanadasChallenger Bank and have been around for more than 50 years. Equitable Banks wholly-owned subsidiary Concentra Bank supports credit unions acrossCanadathat serve more than six million members. Together we have over$138 billionin combined assets under management and administration with a clear mandate to drive change in Canadian banking to enrich peoples customers have named our EQ Bank digital platform () one of the top banks in Canada on the Forbes Worlds Best Banks list since 2021.

The Work

The Senior Credit Underwriter is responsible for reviewing/recommending/approving/declining Alt-A mortgages originated from third party channels; and renewals from the prime portfolios within their delegated credit limits. As a key member of the RESL team the Underwriter is responsible for assisting in the engagement of the third-party originators/servicers and the Credit adjudication process of the banks residential mortgages. This position requires ability to analyze each mortgage deal with a high degree of professional critical thinking and use their expert judgement to recommend or decline Single Family Residential Mortgages offered by the Banks third-party partners. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.

The Core Responsibilities!

The primary focus of this position is to perform the residential portfolio underwriting process from third party origination channels. Specific responsibilities include but is not limited to the following:

RecommendingApproving the purchaseRenewals of Single-Family Residential Mortgages originated from third party partnerships and Concentras Legacy direct lending business:

Review and analyze Alt-A residential mortgage loans credit file documentation (credit reports income/employment documentation and funding documents etc.) to assess application in accordance with Residential Mortgage Underwriting Guideline and other relevant policy/guideline and procedures.
The Underwriter must cross-reference the originators underwriting to both the RMMG Third Party as well as EQBs internal Corporate Underwriting guidelines to ensure consistency.
The Underwriter makes credit recommendations/approvals on individual mortgage deals reviewed in line with current delegated authority limits.
Review mortgage data accuracy/integrity to ensure the information is consistently captured and documented in accordance with internal standards.
Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings.

Builds and maintains relationships with both internal and external stakeholders:

Prioritizes applications and workflow to ensure consistent and sound risk assessments are maintained while managing high volumes and a continued focus on service excellence
Establishes and maintains positive relationships with mortgage originators to build loyalty to the Bank
Provide excellent customer service to other departments and third-party originators through professional written and verbal communication.
On a daily basis provide the highest level of internal and external customer service while fielding originator inquiries.
Directly responsible for updating third party originators of all interest rate changes/updates.
Designs implements and prepares reports papers plans dashboards and templates for clients senior management and multiple internal committees
Responsible for key metric reporting to Managing Director Consumer Markets includes non-conforming loans exceptions standard approval/declines and pre-approvals.
Working closely with internal departments to provide feedback and support recommendations to continually improve the effectiveness and efficiencies on internal processes
Works closely with internal departments to identify areas of opportunity/gaps in procedural guidelines and makes recommendations for effective changes.
Develops implements documents and evaluates processes and procedures across credit portfolios with internal teams
Stays current with latest industry knowledge competition and market trends

Helps support and maintain a robust fraud and compliance environment as an active and engaged member of the Banks first line of defense.

Ensure that a UAR (Unusual Activity Report) is submitted on loans suspected of containing fraud and perform risk assessments on a broader scale when identified.
Assist in the identification of new and evolving fraud trends or systematic issues and patterns.
Timely escalation/reporting of any evidence of fraud identified through detailed review which may impact other areas of the business.
Assists with portfolio risk management practices and reporting ensuring compliance with lending policies and procedures
Ensures disciplined execution of applicable corporate credit policies strategies and market best practices
Assesses third party originator performance and accuracy by reviewing loan decisions for residential mortgages
Provides input and support to the support internalexternal audits and annual servicer reviews
Monitors action plans for fraudulent/watch list accounts in adherence to internal

Lets Talk About You!

University degree or equivalent - preferably in finance business or a related field
A minimum of three to five years in a related role pertaining to residential mortgage origination (underwriting and operational).
Sound knowledge and understanding of Alt-A products Prime and Reverse mortgages operations processes services systems and associated risks and controls.
Demonstrated ability to review residential mortgage documentation audit perform analyses validate and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
Extensive knowledge of underwriting best practices and apply them to their day-to-day work.
In depth understanding of Residential Mortgages underwriting processes and requirements.
Sound understanding of Mortgage related regulatory requirements (OSFII B20 AML/ATF) and Mortgage Insurer requirements (CMHC Genworth)
PC skills including Microsoft Outlook Word Excel Power Point related applications and other software applications used within the organization.
Excellent organizational skills and ability to complete responsibilities in a busy and time sensitive environment.
Strong analytical skills.
Strong verbal and written communication skills.
Attention to detail and an ability to identify potential problems within files.
Self-motivated.
Strong interpersonal skills.
Work effectively in a team setting to accomplish goals and complete tasks.
Ability to make decisions under pressure.
Excellent time management analytical and problem-solving skills.
Displays pride in providing superb customer service.

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

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyones diverse experiences and 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 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 cant wait to get to know you!

Required Experience:

Senior IC

Join a ChallengerBeing a traditional bank just isnt 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 youre passionate abo...