Commercial Mortgage Underwriter, CMHC

EQ Bank | Equitable Bank; Toronto; Hybrid; CAD 70,000 - 95,000; Full time

Job summary

A leading Canadian bank in Toronto is looking for a Commercial Mortgage Underwriter to analyze and underwrite mortgages while adhering to compliance standards. Candidates should have a strong background in underwriting, excellent communication skills, and a knack for time management. This position combines a hybrid work environment with competitive benefits and career development opportunities.

Benefits

Competitive discretionary bonus

Market leading RRSP match program

Medical, dental, vision, life, and disability benefits

Employee Share Purchase Plan

Generous vacation policy

Annual professional development allowance

Qualifications

• Minimum of 2 years' experience in commercial mortgage or SFR underwriting.
• Ability to handle multiple competing priorities.
• Good working knowledge of the commercial mortgage market.

Responsibilities

• Analyze and underwrite commercial credit facilities.
• Ensure compliance with established lending guidelines.
• Communicate with external and internal contacts to process transactions.

Skills

Bilingualism

Proficient underwriting skills

Service excellence

Analytical skills

Time management

Communication skills

Education

Post-secondary education in business or finance

Tools

MS Office (Word and Excel)

Job description

Join a Challenger

Being a traditional bank just isn’t our thing, so we challenge ourselves to get creative in providing innovative banking solutions for Canadians.

Join a Challenger

Being a traditional bank just isn’t 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 you’re passionate about redefining the future of banking—while having fun—this could be your next big opportunity.

Our company continues to grow, and today 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

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, meeting compliance and control requirements, while finding creative solutions in a timely manner in order to achieve service goals as well as annual target volumes. Additional credit-related and administrative duties are also required such as reporting and pipeline management as well as networking with external business partners along with various staff within the Commercial department & other internal departments.

The core parts of your role would be to:

• On a daily basis, the incumbent will analyze and underwrite commercial credit facilities together with additional credit related and administrative duties, for all mortgage product types. Attention must be made to ensure that compliance with the company’s established lending guidelines and procedures are followed with recommendations submitted for approval to management. The incumbent is responsible to ensure all lending criteria have been satisfied on deals underwritten and outstanding documentation/conditions, if any, are being met in a timely manner (60%)
• On a daily basis, the incumbent will communicate with external contacts (origination partners) and internal contacts (funders, managers, administrators, and commercial mortgage sales staff) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service and funding deadlines. (20%)
• On a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines (10%)
• On a monthly basis, the incumbent will be responsible for various administrative and reporting duties required for the department/Company which will be relied upon by Senior Management (10%)
  
  
  
  

Let's Talk About You!

• Bilingualism is an asset
• Proficient underwriting skills preferably with a minimum 2 years’ commercial mortgage experience and/or SFR underwriting experience
• Demonstrated service excellence within their field
• Post-secondary education (diploma/degree) preferred , preferably in business or finance
• Good working knowledge of MS Office (primarily Word and Excel)
• Effective analytical and problem solving skills
• Strong business sense combined with sound technical knowledge of secured lending and factors affecting the commercial mortgage market
• Established organizational skills
• Ability to handle multiple competing priorities
• Good time management skills
• Excellent communication skills, both oral and written
• Ability and desire to attend industry-related events as required
  
  
  
  

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 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 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

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Transportation, Logistics, Supply Chain and Storage

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