Payments Administrator

EQ Bank | Canada's Challenger Bank; Toronto; Hybrid; CAD 52,000 - 70,000; Full time

Benefits offered by this job

Competitive discretionary bonus

RRSP match

Medical, dental, vision, life, anddis-

Job summary

EQ Bank, Canada's Challenger Bank, is seeking a Payments Operations professional in Toronto to accurately process mortgage payments and LOC transactions. You will handle incoming payments, reconcile reports, and ensure timely processing across EFTs and daily files.

The role requires 2–3 years in mortgages, strong math and analytical skills, and proficiency with Word/Excel. The role is hybrid, with office time at EQ Bank’s Toronto space.

Qualifications

• 2–3 years of mortgage industry experience.
• Knowledge of cheque clearing and collections.
• Ability to confidently make decisions regarding cheque clearing items.
• Understanding of the company’s payment hierarchy rules and application.
• Strong math and analytical skills.

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 regulations.
• Decide to honour or dishonour LOC cheques.
• Post daily payments and EFTs with detailed notes in systems.
• Attend to HELOC requests and reprocess payments as needed.
• Investigate issues with FI/IT and follow up for timely resolution.
• Prepare reconciliation sheets for daily deposits.
• Post payouts and principal paydowns accurately.
• Calculate per diem interest and identify shortfalls/overpayments.
• Liaise with internal departments to address ad-hoc issues.
• Escalate system issues to management and analytics partners.
• Gather data and prepare assigned departmental reports.

Skills

Cheque clearing

Analytical thinking

Attention to detail

Excel

Decision making

Education

Degree or diploma in related discipline

Tools

Microsoft Excel

Microsoft Word

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.