Senior Credit Underwriting Analyst

EQ Bank; Regina; On-site; CAD 75,000 - 95,000; Full time

Job summary

A leading Challenger Bank in Canada is seeking a Senior Credit Underwriter to join their team. In this role, you will review, recommend, and approve residential mortgages while maintaining strong relationships with originators. Candidates should have 3-5 years of mortgage origination experience and excellent analytical skills. The position offers a competitive discretionary bonus, comprehensive benefits, and a commitment to inclusion. Join us and redefine the future of banking!

Benefits

Competitive discretionary bonus

RRSP match program

Medical, dental, vision, life and disability benefits

Employee Share Purchase Plan

Generous vacation policy

Professional development programs

Qualifications

• 3-5 years of experience in residential mortgage origination.
• Sound knowledge of Alt-A products and associated risks.
• Excellent organizational and time-management skills.

Responsibilities

• Review and analyze Alt-A residential mortgage loans.
• Maintain relationships with mortgage originators.
• Submit Unusual Activity Reports for suspected fraud.

Skills

Residential mortgage origination experience

Knowledge of Alt-A products

Underwriting best practices

Communication skills

Analytical skills

Education

University degree in finance or business

Tools

Microsoft Excel

Microsoft Word

Microsoft PowerPoint

Job description

Join a Challenger

Equitable Bank is a traditional bank that challenges itself by providing innovative banking solutions for Canadians. Our team of inquisitive and agile challengers breaks through the status quo, creating a fun and dynamic environment where you can redefine the future of banking.

Equitable Bank serves more than 780,000 customers across Canada through Equitable Bank, Canada’s Challenger Bank™, and Concentra Bank, which supports credit unions that serve over six million members. Together we manage over $138 billion in combined assets and administration, with the mandate to enrich people’s lives through change.

The Work

The Senior Credit Underwriter reviews, recommends, approves, or declines Alt‑A mortgages originated from third‑party channels and renewals from the prime portfolios within delegated credit limits. As a key member of the RESL team, the Underwriter assists in engaging third‑party originators/servicers and the credit adjudication process for residential mortgages.

The Core Responsibilities

• Perform residential portfolio underwriting from third‑party origination channels.
• Recommend and approve the purchase and renewals of single‑family residential mortgages from third‑party partners and Concentra’s legacy direct lending business.
• Review and analyze Alt‑A residential mortgage loans for credit file documentation to assess applications in accordance with underwriting guidelines and policies.
• Cross‑reference originator underwriting with internal corporate guidelines to ensure consistency.
• Make credit recommendations within delegated authority limits.
• Ensure data accuracy and integrity and document findings.

Relationship Management

• Prioritize applications and workflow to maintain consistent risk assessments.
• Establish positive relationships with mortgage originators.
• Provide excellent customer service to internal departments and third‑party originators.
• Update originators on interest rate changes.
• Design, implement, and prepare reports, dashboards, and templates for clients and senior management.
• Report key metrics to the Managing Director, Consumer Markets.
• Collaborate with internal departments to improve process effectiveness and efficiencies.
• Identify opportunities and recommend procedural guideline changes.
• Develop, implement, and evaluate processes and procedures across credit portfolios.
• Stay current with industry knowledge, competition, and market trends.

Fraud and Compliance

• Submit Unusual Activity Reports (UAR) for suspected fraud.
• Identify evolving fraud trends and systematic issues.
• Escalate and report evidence of fraud that may impact the business.
• Assist with portfolio risk management practices and reporting.
• Ensure disciplined execution of corporate credit policies and market best practices.
• Assess third‑party originator performance and accuracy by reviewing loan decisions.
• Provide input and support to internal and external audits and annual servicer reviews.
• Monitor action plans for fraudulent or watch‑list accounts in adherence to internal controls.

Qualifications

• University degree or equivalent, preferably in finance, business, or a related field.
• Three to five years of residential mortgage origination experience (underwriting and operational).
• Sound knowledge of Alt‑A products, prime and reverse mortgages, and associated risks and controls.
• Experience reviewing mortgage documentation, audit, analyze, validate, and recommend corrective action.
• Extensive knowledge of underwriting best practices.
• In‑depth understanding of residential mortgage underwriting processes and requirements.
• Knowledge of mortgage regulatory requirements (OSFI B20, AML/ATF) and insurer requirements (CMHC, Genworth).
• Proficiency in Microsoft Outlook, Word, Excel, PowerPoint, and related applications.
• Excellent organizational, analytical, communication, and time‑management skills.
• Strong interpersonal and team skills.
• Self‑motivated and able to make decisions under pressure.

Benefits for Full‑time Permanent Roles

• Competitive discretionary bonus.
• 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 colleagues.
• Professional development and comprehensive career development program.

Equitable Bank Commitment to Inclusion

We celebrate diverse experiences and provide a barrier‑free recruitment process for all candidates. Please let us know of any accommodations needed so 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.

We can’t wait to get to know you!