Commercial Mortgage Underwriter, CMHC

Equitable Group; Toronto; Hybrid; CAD 70,000 - 90,000; Full time

Job summary

Equitable Group is seeking a Commercial Mortgage Underwriter to join its dynamic team in Toronto. This role involves underwriting commercial mortgages while ensuring compliance and providing superior service to clients. The ideal candidate will have strong analytical skills, industry experience, and a commitment to excellence. Employees will enjoy competitive bonuses, comprehensive benefits, and a supportive work environment, emphasizing inclusion and career growth.

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 and personal days

Virtual events and professional development allowances

Qualifications

• Preferably 2 years’ experience in commercial mortgage or SFR underwriting.
• Business acumen and technical knowledge of secured lending.
• Demonstrated service excellence.

Responsibilities

• Analyze and underwrite commercial credit facilities daily.
• Manage communications with external partners for transactions.
• Perform monthly administrative duties and reporting.

Skills

Analytical skills

Problem-solving skills

Organizational skills

Communication skills

Time management

Bilingualism

Education

Post-secondary education in business or finance

Tools

MS Office

Job description

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 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

As part of a growing and dynamic commercial team, the Commercial Mortgage Underwriter is responsible for underwriting CMHC-insured and conventional commercial mortgages. The Underwriter must adhere to established policies and underwriting standards, meet compliance and control requirements, and find creative solutions in a timely manner to achieve service goals and annual target volumes. Additional credit-related and administrative duties include reporting, pipeline management, and networking with external business partners and internal departments.

Key Responsibilities:

• Analyze and underwrite commercial credit facilities daily, ensuring compliance with lending guidelines, and submit recommendations for approval. Responsible for ensuring all lending criteria are satisfied and conditions are met in a timely manner (60%).
• Communicate daily with external origination partners and internal contacts to process transactions efficiently, delivering superior customer service and meeting funding deadlines (20%).
• Manage time effectively to meet deal flow deadlines (10%).
• Perform administrative and reporting duties monthly for management (10%).

Qualifications:

• Bilingualism is an asset.
• Proficient in underwriting, preferably with at least 2 years’ commercial mortgage or SFR underwriting experience.
• Demonstrated service excellence.
• Post-secondary education in business or finance preferred.
• Good knowledge of MS Office.
• Strong analytical, problem-solving, and organizational skills.
• Business acumen and technical knowledge of secured lending and the commercial mortgage market.
• Effective time management and communication skills.
• Willingness to attend industry events as needed.

What We Offer:

• 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 and personal days.
• Virtual events and professional development allowances.
• The opportunity to join a top FinTech and help create a new banking experience.

The role is hybrid, with in-office work at 2200-25 Ontario Street, Toronto, ON.

Equitable Bank values inclusion and diversity. We support a barrier-free recruitment process and work environment. Please inform us of any accommodations needed. All candidates must pass background and credit checks. Only shortlisted candidates will be contacted.

We look forward to meeting you!