Commercial Underwriting Manager, 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

As part of a growing, dynamic & solution-focused commercial team, the Commercial Mortgage Underwriter is responsible for underwriting conventional commercial mortgages (typically up to $5-7m). The underwriter must adhere to established policies and underwriting standards, meeting compliance and control requirements, while finding creative and service-oriented solutions in a timely manner in order to achieve department goals as well as annual target volumes. Additional credit-related and administrative duties are also required such as reporting and pipeline management (SIT/RAISE). As well, networking with brokers and other external business partners along with various staff within the Credit & Risk group and other internal departments.

The core parts of your role would be to:

• Analyze and underwrite commercial credit facilities together with additional credit-related and administrative duties for conventional commercial mortgage product types, ensuring compliance with the company’s established lending guidelines and procedures (50%).
• Communicate with internal contacts (funders, managers, administrators, and commercial sales staff) as well as external contacts (lending partners, mortgage brokers, solicitors, appraisers, and consultants) to ensure transactions are processed in a timely and efficient manner (30%).
• Manage deal flow to meet prescribed deadlines (10%).
• Handle various administration 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 with a minimum 3 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.
• Good business sense combined with sound technical knowledge of secured lending and factors affecting the commercial mortgage market.
• Good organizational and time management skills.
• Good understanding of regulatory, compliance, AML, and privacy policies.
• Ability to handle multiple competing priorities while providing optimal customer service.
• Excellent communication skills, both oral and written.
• Ability and desire to attend broker-related events as required (often, after hours).
• Access to a vehicle for site inspections.

Job Complexities/Thinking Challenges:

• The position requires the incumbent to be a self-starter and make sound underwriting decisions as efficiently as possible, with potential loan restructuring and negotiations required on a deal-to-deal basis. The incumbent must exhibit a confident and knowledgeable approach in interactions with Partners/Broker/Client while maintaining a balance between providing high levels of customer service and ensuring credit decisions are thoroughly assessed.

#LI-Hybrid

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!