Payments Administrator

EQ Bank

Toronto

Hybrid

CAD 55,000 - 75,000

Full time

9 days ago

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Benefits offered by this job

Competitive bonus

RRSP match program

Benefits package

Employee Share Purchase Plan

Career development

Job summary

EQ Bank, a leading Canadian challenger bank, is seeking a detail‑oriented processor to manage mortgage payments, cheques, and daily reconciliations. The role demands strong math and analytical skills, decisioning on cheque clearing, and adherence to payment rules.

Hybrid work from Canada’s Toronto area is offered. You will interact with multiple departments to ensure timely processing, address issues, and prepare daily reports.

Qualifications

Minimum 2–3 years of mortgage industry experience.
Strong knowledge of cheque clearing and collection processes.
Ability to decide on cheque clearing items.
Knowledge of payment hierarchy rules and application.
Strong math and analytical skills.
Excellent attention to detail.
Ability to meet tight deadlines.
Ability to balance multiple priorities.
Strong organization skills.
Superior customer service to internal and external customers.
Team oriented.
Problem solving and proposing solutions.
Proficient in Word and intermediate Excel.

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 with review per guidelines and banking regs.
Decide to honour/dishonour LOC cheques.
Post daily payment transactions and EFTs with notes in systems.
Attend to HELOC requests including reprocessing payments and investigating disputes.
Investigate issues with FI/IT and follow up for resolution.
Prepare reconciliation sheet for daily deposits.
Post payouts and principal paydowns accurately.
Calculate per diem interest with payout funds and identify discrepancies.
Prepare assigned departmental reports.

Skills

Math skills

Analytical skills

Attention to detail

Meet deadlines

Multitasking

Organization

Customer service

Team oriented

Problem solving

Self-motivated

Education

Degree or diploma in related discipline

Tools

Microsoft Word

Microsoft 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.

We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses and identifying potential inconsistencies or verification signals in application materials based on available information. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.

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