Senior Analyst, Commercial QA (12 month contract)

Kinvie; Toronto; Hybrid; CAD 75,000 - 110,000; Full time

Benefits offered by this job

Competitive discretionary bonus

Market leading RRSP match program

Medical, dental, vision, life, and DI

Employee Share Purchase Plan

Maternity/Parental top-up

Job summary

EQ Bank in Toronto is seeking a Quality Assurance Analyst to join the hybrid team. You will review mortgage files, analyze risk, and ensure adherence to policy, procedures, and controls across SFR products.

The role requires strong analytical skills, accuracy, and effective communication with stakeholders. You will collaborate with the QA Manager to maintain the QAF for SFR, participate in reporting findings, and assist in training staff while supporting fraud prevention initiatives and

Qualifications

• Five years’ experience in a Canadian financial institution.
• Three to five years in a related role pertaining to residential mortgage origination (underwriting and operational).
• Ability to review residential mortgage documentation, audit, perform analyses, and document potential risk.

Responsibilities

• Review mortgage applications and supporting documents to determine accuracy and completeness.
• Interpret Credit Risk Analysis and substantiate observations.
• Ensure compliance with regulatory requirements (OSFI B20, AML/ATF) and insurer requirements (CMHC, Genworth).
• Identify fraud indicators and report findings with clear documentation.
• Support front-line business and provide effective cross-department communication.

Skills

Mortgage underwriting knowledge

Analytical skills

Attention to detail

Written and verbal communication

MS Office proficiency

Team collaboration

Tools

Sherlock system

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. 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 Quality Assurance Analyst is responsible for performing reviews and assessments of activities performed by individuals within the Bank “1st line’ Operations.

The QA Analyst is responsible for assisting the Manager in the development and maintenance of the Quality Assurance Framework [“QAF”] for the SFR business and executes the necessary activities within the QAF and will be required to discuss and report on findings to the relevant stakeholders.

The QA team’s objective is to ensure that the process is in line with current policy and procedures, is operating effectively and is coordinated with any department that is directly affected by the reported observations.

The QA Analyst is responsible for conducting objective assessment and analysis of SFR mortgage files/documentation with focus on:

• replicating the credit decision (includes TDS/GDS recalculation)
• confirming compliance with established credit and operational policies, procedures, processes and controls
• Detection of mortgage fraud and aid in fraud prevention measures, as outlined in the SFR Mortgage Fraud Control Procedures.
• clear and factual reporting of findings/conclusions to the business unit

This position requires an ability to analyze each document separately, but also to be able to relate it to the deal as a whole for Single Family Residential mortgages. The QA Analyst will develop sound knowledge of what checks are required for each document in the file and how to identify and report each observation.

Additional responsibilities include /Signing of Broker / Partner Commission and Miscellaneous cheques (within assigned limits), and provide assistance to departmental staff members in support of other QA requirements.

The Core Responsibilities

• Review and analyze mortgage applications, credit approval form, corporate documentation, credit reports, income/employment documentation and funding documentation to determine accuracy and completeness.
• Must have the ability to read and understand the Credit Risk Analysis performed by the business prior to completing a thorough review and substantiating observations
• Sound understanding of different product-types within SFR lending and the different processes that surround each product; such as Alternative, Prime, HELOC mortgages, CMHC Insured product and Third Party Serviced loans and mortgages
• Have the ability to visualize, articulate, conceptualize or solve both complex and uncomplicated documents and/or problems by making decisions that are sensible given the available information and resources.
• Review data accuracy/integrity to ensure the information is consistently and routinely applied to the Company’s internal system.
• Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings.
• Ensure that all accounts suspected of containing fraud are accurately recorded on Sherlock and perform risk assessments on a broader scale, when identified.
• Assist in the identification of new and evolving fraud trends or systematic issues and patterns.
• Timely escalation/reporting of any evidence of fraud identified through detailed review which may impact other areas of the business.
• Provide support to the front line business for any new initiatives that may directly affect the review process or business unit objectives.
• Provide excellent customer service to other departments through professional written and verbal communication.
• Maintain knowledge and understanding of SFR products, operations, processes, services, systems and associated risks and controls.
• Communicate with the Manager, Quality Assurance on status reports and duty prioritization
• Prepare training documentation as well as assist in training new staff or peers.
• Review of new and/or revised regulations, policy and procedures and establish a continuous cycle of improvement for the QA Framework
• Coordinate and/or support the completion of special reviews and assignments as requested by the CRO and/or Director, Fraud Operations
• Conducting credit/operational analysis reviews of credit files as part of due diligence activities associated with potential acquisitions
• Conducting review of other staff members work for consistency and coaching purposes

Let's Talk About You

• A minimum of five years’ experience in a Canadian financial institution.
• A minimum of three to five years in a related role pertaining to residential mortgage origination (underwriting and operational).
• Ability to review residential mortgage documentation, audit, perform analyses, validate and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
• Must possess an in depth understanding of Residential Mortgages underwriting processes and requirements.
• Sound understanding of Mortgage related regulatory requirements (OSFII B20, AML/ATF), and Mortgage Insurer requirements (CMHC, Genworth)
• PC skills including Microsoft Outlook, Word, Excel, Power Point, related applications and other software applications used within the organization.
• Excellent organizational skills and ability to complete responsibilities in a busy and time sensitive environment.
• Strong analytical skills.
• Strong verbal and written communication skills.
• Attention to detail and an ability to identify potential problems within files.
• Self-motivated.
• Strong interpersonal skills.
• Work effectively in a team setting to accomplish goals and complete tasks.
• Ability to conduct presentations if required.

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.