Vice President, Special Accounts Management Unit
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Monthly Salary:
Posted on:
6 hours ago
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 VP Special Accounts Management Unit (SAMU) is the executive lead responsible for driving the Banks national strategy for managing higher risk nonperforming and distressed commercial credit exposures. This role oversees all Special Accounts activities including arrears management complex workouts restructurings insolvency matters enforcement and asset recovery. The VP ensures loss mitigation maximized recoveries and strong governance across the lending portfolios.
The incumbent is responsible for ensuring that practices align with OSFI and other regulatory requirements concerning impaired loans workouts and risk governance. They also develop high-performing teams by setting strategic direction and act as the final escalation point for complex credit issues considering prevailing market close collaboration with the SVP Chief Credit Officer and senior leaders in Risk Legal Finance and Commercial the Vice President offers insights guidance and decision support regarding trends within the SAMU portfolio.
Strategic Leadership & Governance
- Lead the overall direction priorities and strategic execution of SAMU nationwide ensuring alignment with the Banks credit risk appetite policies and regulatory expectations.
- Develop and execute proactive monitoring workout restructuring and enforcement strategies to mitigate risk reduce losses and enhance recoveries.
- Serve as the senior decisionmaker on complex workout situations enforcement actions restructurings insolvency processes and borrower negotiations.
- Provide strategic recommendations to the SVP and Executive Leadership on distressed portfolio trends systemic risks and opportunities for portfolio optimization.
Portfolio Oversight & Risk Management
- Oversee all high risk and nonperforming commercial loans ensuring accurate risk ratings timely action plans and disciplined execution of workout strategies.
- Review and approve complex credit submissions including restructures forbearance agreements settlements enforcement actions and impairment assessments.
- Ensure compliance with internal policies legal requirements insolvency legislation and expectations from regulatory bodies.
- Monitor Watchlist/Arrears reports and ensure timely escalation of deteriorating accounts.
Operational Excellence & Reporting
- Lead preparation of reporting packages for Executive Committees Board presentations audits regulators and risk management functions.
- Oversee monthly quarterly and annual reporting of arrears recoveries impairments and enforcement activity.
- Strengthen and streamline SAMU processes controls documentation standards and governance frameworks.
Internal & External Relationship Management
- Serve as the primary executive liaison for external law firms insolvency professionals receivers appraisers brokers and other third party experts.
- Partner with Credit Risk and Commercial Lending teams to support early stage intervention risk identification and credit deterioration mitigation.
- Collaborate with Legal Services to assess enforcement pathways legal remedies and strategic case direction.
- Represent the Bank at industry events related to distressed asset management and insolvency.
Leadership & Talent Development
- Mentor develop train and lead a team managing higher risk and distressed credits while fostering a culture of accountability analytical rigor and collaboration.
- Identify and nurture high potential talent and ensure development plans support succession and team capability growth.
- Promote a culture of inclusiveness integrity disciplined execution and continuous improvement.
Lets Talk About You!
- 15 years of progressive experience in commercial lending with a minimum of 810 years in Special Loans distressed debt management or workout environments.
- Postsecondary degree in finance business law accounting economics or related field; CPA CIRP LLM or equivalent designations an asset.
- Extensive experience in workout strategies distressed loan management forbearance restructuring enforcement litigation and collateral liquidation.
- Advanced understanding of insolvency legislation foreclosure processes commercial real estate markets and secured lending practices across Canada.
- Strong financial acumen including credit analysis financial statement interpretation cashflow modeling collateral valuation impairment analysis and recovery forecasting.
- Proven track record leading high performing teams in complex credit environments.
- Exceptional negotiation communication and stakeholder management skills including experience negotiating with borrowers third parties guarantors and legal counsel.
- Strong ability to operate under pressure and make sound time sensitive decisions using professional judgment and limited information.
- Proficiency with MS Office and credit/loan management systems.
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 Banks 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 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:
Exec
Key Skills
- Change Management
- Financial Services
- Growing Experience
- Managed Care
- Management Experience
- Analysis Skills
- Senior Leadership
- Performance Management
- Process Management
- Leadership Experience
- negotiation
- Analytics
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.
