Payouts Administrator

EQ Bank | Equitable Bank; Toronto; Hybrid; CAD 80,000 - 100,000; Full time

Job summary

A leading Canadian financial institution is seeking a detail-oriented individual to manage payout requests and calculations. This position involves preparing payout statements, handling inquiries from solicitors and financial institutions, and conducting follow-ups on outstanding payments. The ideal candidate will have strong communication and organizational skills. This opportunity includes a competitive bonus, excellent benefits, and a hybrid working model.

Benefits

Competitive discretionary bonus

Market leading RRSP match program

Comprehensive medical, dental, vision benefits

Employee Share Purchase Plan

Generous vacation policy

Annual professional development allowance

Qualifications

• Ability to prepare payout statements accurately within specific timeframes.
• Experience handling inquiries from solicitors and financial institutions.
• Understanding of policies and procedures related to payouts.

Responsibilities

• Prepare payout statements accurately on time.
• Handle inbound inquiries regarding payouts.
• Conduct follow-ups to obtain past due payout funds.

Skills

Attention to detail

Communication skills

Organizational skills

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.

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

The incumbent is responsible for all activities related to facilitating payout requests, including the accurate calculation of pre‑payment charges, preparation of payout statements, and follow‑up to obtain full and/or shortfall payout funds.

The Core Responsibilities

• Prepare payout statements accurately within the specified turnaround timeframe
• Update prepayment charge reference rates into applicable platforms as required
• Handle inbound phone calls and emails from solicitors/notaries/financial institutions regarding payout and discharge/assignment inquiries
• Conduct timely follow‑up to obtain all past due payout funds. When necessary, reactivate mortgages and initiate collection for outstanding balances.
• Diligently complete collection activity to obtain payout shortfalls
• Work with Renewals and Internal Refinance teams to retain mortgages
• Understand and follow policies, guidelines, and procedures

Let's Talk About You!

• Prepare payout statements accurately within the specified turnaround timeframe
• Update prepayment charge reference rates into applicable platforms as required
• Handle inbound phone calls and emails from solicitors/notaries/financial institutions regarding payout and discharge/assignment inquiries
• Conduct timely follow‑up to obtain all past due payout funds. When necessary, reactivate mortgages and initiate collection for outstanding balances.
• Diligently complete collection activity to obtain payout shortfalls
• Work with Renewals and Internal Refinance teams to retain mortgages
• Understand and follow policies, guidelines, and procedures

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!