Commercial Mortgage Officer, Business Enterprise Solutions (BES)

EQ Bank | Equitable Bank; Toronto; Hybrid; CAD 60,000 - 95,000; Full time

Job summary

Join a forward-thinking financial institution as a Commercial Mortgage Officer, where innovation meets opportunity. In this role, you will be responsible for onboarding and managing commercial mortgage files while ensuring compliance with established guidelines. Collaborate with a dynamic team to deliver exceptional service and support to clients and partners. This is a chance to be part of a growing organization that values creativity and challenges the status quo in banking. With a commitment to inclusion and professional development, you will thrive in an environment that encourages personal and career growth. Don't miss this opportunity to redefine the future of banking!

Benefits

Competitive discretionary bonus

Market leading RRSP match program

Medical, dental, vision, life, and disability benefits

Employee Share Purchase Plan

Maternity/Parental top-up

Generous vacation policy and personal days

Virtual events to connect with colleagues

Annual professional development allowance

Comprehensive Career Development program

Qualifications

• Minimum of 2 years’ experience in commercial mortgage/administration.
• Strong analytical, organizational, and communication skills required.

Responsibilities

• Onboard and maintain commercial mortgage files from LOI to funding.
• Communicate with internal and external contacts for AML documentation.
• Assist underwriters and manage workflow to meet deadlines.

Skills

Analytical Skills

Organizational Skills

Time Management

Communication Skills

Education

Post-secondary education (diploma/degree) in business or finance

Tools

MS Office (Word, Excel, Outlook, Power Point)

Job description

Commercial Mortgage Officer, Business Enterprise Solutions (BES)

Join a Challenger

Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing!) family. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.

The Work

The Commercial Mortgage Officer is responsible for onboarding, maintaining and updating commercial mortgage files/pipeline report from the LOI acknowledgement stage to the funding stage by acting as a liaison between the Account Manager, Underwriting, Funding and Compliance departments, ensuring compliance with the Company’s established lending guidelines and requirements. Additional duties include providing the Manager with administrative and clerical support and special projects required by senior management and networking with clients, brokers and other external business partners as well as staff within the Credit & Risk Management group and other internal departments.

The core parts of your role would be to:

• 30% - Onboard loans by adding loans to SIT and RAISE platforms. Scrub the loan details against SFR watch/deny list and document the Broker verification process. Scrutinize the contents of the file with a strong emphasis on anti-money laundering (AML) and anti-terrorist financing (ATF) requirements, assess if CIF merges are required, review existing AML scores, ensure any STR/SATs are dealt with accordingly and archive all documents received to date to Filenexus.
• 30% - Communicate with internal contacts (i.e. Account Managers, Underwriters, Funders, Compliance) and third party providers (i.e. Brokers, Partners, Clients) to obtain/review required AML documentation and act as a liaison between various groups within the department. Ensure transactions are processed in a timely and efficient manner to deliver superior customer service, while ensuring compliance with the Company’s established AML policies and lending guidelines and requirements. Complete the Fintrac form prior to funding and recommend to Management for approval.
• 20% - Generate CAFs by updating loan details in SIT as per approved LPD write ups, and recommend to management for approval.
• 10% - Update statuses or closing dates as requested, process good faith deposit cheques on SIT, document loan cancellations on SIT, RAISE and FileNexus, prepare loan cancellation memos for fee reimbursement for senior management approval and cut reimbursement cheques from SIT or request wires from Funding.
• 10% - Assist the underwriters in preparation of draft commitments, instructing the funding dept, income analysis and employment verbal verifications. Responsible for time management of their work flow in order to meet prescribed deadlines.

Let's Talk About You!

• Have a minimum of 2 years’ commercial mortgage/administration experience.
• Post-secondary education (diploma/degree), preferably in business or finance.
• Extensive working knowledge of MS Office (Word, Excel, Outlook, Power Point).
• Strong analytical skills.
• Strong organizational skills.
• Ability to handle multiple competing priorities.
• Good time management skills.
• Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner.

Job Complexities / Thinking Challenges:

The position requires the incumbent to be a self-starter and make sound decisions as efficiently as possible. Commercial mortgages can be complex in nature, requiring in-depth reviews of documentation.

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.
• Annual professional development allowance and a 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 Bank’s additional office space located at 351 King Street East, Toronto, ON.

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In 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 beyond. All 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 can’t wait to get to know you!

Seniority level

Not Applicable

Employment type

Full-time

Job function

Finance and Sales

Industries

Transportation, Logistics, Supply Chain and Storage