Associate Director, Special Accounts Management Unit
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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 Associate Director Special Accounts Management Unit primarily has accountability for the strategic management resolution and recovery of complex commercial default files and high-risk commercial loans. This includes large-balance and complex credit exposures (including conventional and construction facilities) managed in accordance with the Banks underwriting standards risk appetite and internal policies and procedures.
Acting with a high degree of professional judgment and autonomy the incumbent leads the development and execution of customized workout and recovery strategies enforces contractual and security rights as appropriate and proactively mitigates loss exposure while seeking commercially pragmatic outcomes. The role requires balancing legal financial reputational and relationship considerations with a strong focus on loss mitigation.
The Associate Director serves as a trusted subject-matter expert and key point of contact for internal and external stakeholders including Senior Management legal counsel real estate professionals and other business partners. The incumbent represents the Bank in the professional community and ensures complex transactions and resolutions are advanced efficiently transparently and in alignment with the Banks strategic objectives. This role will also serve to support training and development for others in the Special Accounts Management Unit group. The incumbent will assist with completing site inspections as required for portfolio management purposes and/or default loans.
Additionally the role will support contributing to portfolio oversight credit risk analysis management reporting regulatory deliverables and special initiatives while exercising influence without direct authority.
The core parts of your role would be to:
- Portfolio & Default Management
- Independently manage and resolve a portfolio of complex high-value delinquent and non-performing commercial mortgage loans applying advanced credit judgment and risk assessment to protect the Banks interests.
- Lead full financial credit and collateral reviews on defaulted and problem accounts identifying key risk drivers and recommending and executing tailored workout restructuring or enforcement strategies.
- Determine recommend and oversee legal action for non-payment events (including past maturities tax arrears insurance lapses bankruptcies liens and covenant breaches) ensuring enforcement actions are commercially sound timely and compliant with internal policies.
- Actively manage legal action files coordinating with external counsel and internal partners and enforcing remedies and conditions as warranted.
- Perform and/or critically review all aspects of underwriting for defaulted and problem loans including collateral valuation market analysis and borrower capacity assessment.
- Ensure heightened risk elements are appropriately identified documented mitigated and escalated as applicable.
- Maintain accurate and timely risk ratings for default and watchlist loans ensuring alignment with internal credit standards and reporting requirements.
- Serve as the primary relationship lead on assigned files liaising with internal stakeholders (Credit Mortgage Services Risk Finance Legal) and external parties to negotiate and execute successful resolutions.
- Lead complex negotiations with borrowers guarantors and third parties balancing firmness in enforcement with pragmatic restructuring where appropriate.
- Provide clear concise and well-reasoned recommendations and updates to Senior Management and other stakeholders.
- Ensure the timely preparation accuracy and integrity of management Board and regulatory reporting including:
- Respond to ad hoc requests from Senior Management with high-quality analysis and clear recommendations.
- Conduct site inspections as required to support portfolio management default resolution and recovery strategies.
- Where applicable provide direct oversight and monitoring of properties held by the Bank for recovery purposes coordinating with third-party service providers.
- Actively contribute to the continuous improvement of Special Loans and Restructuring operations by identifying inefficiencies proposing enhancements and supporting the implementation of improved processes policies and controls.
- Lead special projects and initiatives including process redesign and system or reporting enhancements.
- Serve as a knowledge resource and informal mentor within the team sharing best practices and technical expertise.
Underwriting Risk & Credit Oversight
Stakeholder Management & Negotiation
Reporting Governance & Regulatory Support
o Quarterly Problem Loan Reports
o Monthly classified and watchlist reporting
o Arrears and non-performing loan monitoring
o Provisioning and ad hoc risk analysis
Property Oversight & Site Reviews
Strategic & Operational Contribution
Lets Talk About You!
- Have a minimum of 5-7 years of commercial mortgage lending credit risk or restructuring with demonstrated experience managing defaulted or high-risk commercial loans
- Business degree or a related discipline and/or a CPA or similar professional designation or equivalent work experience.
- Strong working knowledge of mortgage enforcement remedies and foreclosure processes across Canada.
- Advanced credit analysis financial modeling and problem-solving skills with the ability to assess complex and incomplete information.
- Deep technical understanding of secured lending commercial real estate markets and end-to-end credit processes.
- Highly developed organizational and time-management skills with the ability to manage competing priorities under tight timelines.
- Demonstrated ability to operate effectively in a fast-paced high-intensity and evolving environment.
- Proven self-starter with the ability to work independently while exercising sound judgment and accountability.
- Strong negotiation influencing and communication skills (written and verbal) with the confidence to engage senior-level audiences.
- Excellent presentation skills and ability to professionally communicate with Senior Management and other stakeholders (both internal and external).
- Proficient in MS Office.
- Possess a valid drivers license. Ability to travel within the provinces with some overnight travel required from time to time.
Job Complexities/Thinking Challenges
- The position requires the incumbent to demonstrate the ability to make sound decisions/recommendations efficiently with often limited information available in a timely manner. The incumbent shall possess strong cognitive and professional judgement upon which they can rely in the ongoing management of their portfolio. The incumbent is required to follow corporate policies procedures and regulatory requirements to work through files and rationalize the recommendations or decisions made.
- The position demands strategic thinking market awareness and resilience as well as the ability to manage multiple unique and high-stakes files concurrently. Success in the role depends on the incumbents ability to synthesize information quickly develop sound recommendations and drive timely resolution of problem loans.
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:
Director
Key Skills
- Portfolio Management
- Wealth Management
- Financial Services
- Hybris
- Microsoft Word
- Banking
- Cash Management
- Data Management
- Microsoft Powerpoint
- Securities Law
- Microsoft Excel
- Internet Of Things
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.
