Associate Director, Commercial Credit, CMHC

EQ Bank

Job Location:

Toronto - Canada

Monthly Salary: Not Disclosed

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 800000 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$142 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

TheAssociate Director CommercialCreditis responsible for managing and supervising a group ofunderwriters(at different levels of seniority)andadministratorsto ensure that the department is providing optimum service working efficiently and effectively as a team adhering to established policies and underwriting standards meeting compliance and control requirementsachieving service goalsand assisting with the achievement of anticipateddepartment annual financial Director CommercialCreditis responsible for monitoring the commercial pipeline report managing the credit flowapprovingor recommending commercial mortgagefacilitieswithin assigned credit limitsandleading and developing an effective team ensuring that all critical functions meet the companys lending and regulatory requirements. Additional credit related and administrative duties are also required to supportSeniorManagement and regulatory requirements. TheAssociate Directoris responsible for communicatingand co-operating with external Business Partners Lending PartnersClientsand Brokersas well as staff within the Credit & Risk Management group and other internal departments.

The core parts of your role would be to:

Review and analyze all commercial mortgage reviewsand proposals(including originationsamendments and/or updates) together with supporting credit related documentation. Attention must be made to ensure that compliance with the companys established lending guidelinesproceduresand regulatory requirements(including AML/ATF requirements)are followed with recommendations submitted for approval to management. The incumbent is responsible to ensure all criteria has been satisfied on underwritten commercial mortgage reviews and outstanding documentation/conditions if any are being met in a timely manner.A majority ofthe reviews are comprised ofcomplicated loans requiring higher levels of approval whichinclude thinking out of the box(as there might not be established procedure addressing it)working on mitigants to safeguard the Banks interestand providing recommendationsaccordingly(35%).
Lead their team by providing support guidance and mentoring. The incumbent will be the first point of contact for Senior Management and will be responsible for ensuring that their team adheres to company policy and guidelines as well as regulatory requirements. The incumbent will also be the person responsible for resolving day to day department challenges assess individual staff member training needs and ensure that they are met so that the individual is able to perform his/her job effectively (20%).
Attend New Deal meetings where new loans are presented to the Credit team and will be required to opine on them. This will include heading up the meetings in lieu of the Director if required (20%).
Responsible for time management of their work flow as well as that of the department in order to meet prescribed deadlines. The intention is to have a 24 hour turn around for a loan submitted for review (15%).
Communicate with internal contacts (Senior Management Underwriters Administrators and Commercial Funders) and external contacts (Lending Partners Brokers and Clients) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service (10%).

Lets Talk About You!

Have a minimum of 10 years mortgage experience with 5 years of management experience.
Post-secondary education (diploma/degree) preferably in business or finance
Demonstrate leadership skills with the ability to set strong examples for subordinates
Working knowledge of AML/ATF regulations and Corporate/Legal documentation (both direct and partner originated transactions) for commercial real estate in multiple jurisdictions across Canada
Proven ability to thrive in a constantly changing environment and to perform well in a high volume high intensity environment
Proven ability to inspire a team to work toward a set of goals and objectives
Highly developed verbal and written communication skills with the ability to communicate to Senior Management and Partners in a clear concise and professional manner
Sound technical knowledge of commercial real estate underwriting financial statement analysis and factors affective the commercial mortgage market
Effective analytical and problem solving skills
Strong organizational and time management skills
Ability to handle multiple competing priorities
Proficient in MS Office

Job Complexities/Thinking Challenges

The position requires the incumbent to make sound underwriting decisions as efficiently as possible. The incumbent should be prepared tomanage files of greater complexity atalltimesand shall possess strong cognitive skills professional judgement and the ability to work independently with minimal supervision to properly assess individual transactions and rely on past experiences to assist in mitigating incumbent is required to follow corporate policiesproceduresand regulatory requirementsin order to work through files and rationalize the recommendations or decisions may be presented from multiple external partners each partner having unique complexities. As such the incumbent must be able to draw on specific product/document knowledge to assess addition to exercising professional judgement strongproblem solvingskills with respect to AML/ATF risk and related documentation are required as the incumbent will be responsible for preparing and recommending risk mitigation actions to the Business Unit Compliance Officer and/or the Compliance incumbent will also experience the common day to day challenges that come with leading and supervising people.

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

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...