Payments Administrator

EQ Bank; Toronto; Hybrid; CAD 52,000 - 65,000; Full time

Benefits offered by this job

Discretionary bonus

RRSP match

Benefits package

Share Purchase Plan

Parental top‑up

Vacation & personal days

Virtual events

Career development

Job summary

EQ Bank, a Canadian challenger bank, is seeking a detail‑oriented payments specialist to process mortgage transactions, reconciliations, and line of credit checks. The role supports daily deposits, payouts, and interest calculations with cross‑functional teamwork.

Hybrid work model with in‑office days at EQ Bank's Toronto location. Requires 2–3 years in mortgage processing, strong math and analytic skills, and proficiency in Word/Excel.

Qualifications

• Bachelor or diploma in a related discipline and 2–3 years in mortgage/payments.
• Solid knowledge of cheque clearing and collection processes.
• Ability to confidently decide on cheque clearing items.
• Understand payment hierarchy rules and application.

Responsibilities

• Process incoming payments via multiple methods.
• Run and reconcile transaction verification reports.
• Ensure daily payment files are processed on time and accurately.
• Process LOC cheques per guidelines and banking rules.
• Decide to honour or dishonour LOC cheques.
• Post daily payments and EFTs with detailed system notes.
• Attend to HELOC requests including reprocessing payments.
• Investigate issues with FI/IT and follow up for resolution.
• Prepare reconciliation sheets for daily deposits and accounting.
• Post payouts and principal paydowns accurately.
• Calculate per diem interest with payout funds and identify shortfalls.
• Collaborate with internal teams on ad-hoc issues.
• Escalate system issues to management and analysts.
• Gather data and prepare departmental reports.

Skills

Cheque clearing

Decision making

Excel

Attention to detail

Analytical skills

Customer service

Time management

Team oriented

Education

Degree or diploma in related discipline

Tools

Word

Excel

Job description

Join a Challenger

At EQ, we’re remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.

We’ve been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.

What’s kept us moving?

The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.

If you’re driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity.

We can’t wait to get to know you!

The Work

The incumbent is responsible to accurately process financial transactions, including incoming and outgoing payments, which affect the repayment schedule of the mortgage and loan portfolio.

The Core Responsibilities!

• Process incoming payments received via multiple methods.
• Run and reconcile transaction verification reports.
• Ensure daily incoming payment and returned payment files are processed on time and accurately.
• Process line of credit (LOC) cheques by completing review (body of the cheque, limit, signature) according to company guidelines and banking regulations.
• Decision to honour/dishonour LOC cheques.
• Post daily payment transactions, electronic (EFT) payments, and make detailed notes in all required systems.
• Attend to HELOC requests including reprocessing of payments, charging fees, and investigating disputed LOC cheques.
• Investigate and communicate with FI (TD), IT, and other parties if issues arise and follow up for timely resolution.
• Accurately prepare reconciliation sheet for daily deposit and accounting.
• Post full payouts and principal paydowns accurately on the system of record.
• Calculate per diem interest in conjunction with receipt of payout funds and accurately identify shortfalls and overpayments requiring action.
• Liaise with a variety of internal departments to address any unique ad‑hoc issues that may arise.
• Escalate system issues appropriately to management and business analyst partners.
• Gather data and accurately prepare assigned departmental reports as required.

Let’s Talk About You!

• Complete a degree or diploma program in a related discipline with a minimum of 2-3 years’ experience in the mortgage industry.
• In depth knowledge of cheque clearing and collection process.
• Ability to confidently make decisions regarding cheque clearing items.
• In depth knowledge and understanding of company’s payment hierarchy rules and application.
• Strong math and analytical skills.
• Strong attention to detail.
• Ability to meet tight deadlines.
• Ability to balance multiple priorities simultaneously.
• Strong organization skills.
• Provides superior customer service to its internal and external customers.
• Team oriented.
• Ability to solve problems and propose solutions
• Knowledge of various software including Word, with intermediate excel skills being a must
• Self-motivated with the ability to work with very little or no supervision

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 EQ Bank’s additional office space located at 2200-25 Ontario Street, Toronto, ON.

Equity, Diversity & Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives. We’re equally committed to supporting your growth, both professionally and personally.

We provide a barrier‑free recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI‑enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.

EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country’s seventh‑largest Schedule I bank by assets, which operates EQ Bank, Canada’s Challenger Bank. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.

To learn more, visit eqb.investorroom.com and eqbank.ca.