Special Loans and Restructuring Manager

EQ Bank | Equitable Bank; Toronto; Hybrid; CAD 90,000 - 120,000; Full time

Job summary

A leading bank in Canada is seeking a Special Loans and Restructuring Manager to oversee commercial default files and enforce mortgage contract conditions. The role requires handling complex financial reviews and collaborating with multiple departments to ensure effective resolution strategies. With a competitive package, including bonuses and professional development opportunities, this position is ideal for candidates with robust experience in the mortgage industry.

Benefits

Competitive bonus

RRSP match

Benefits

Share purchase plan

Parental top-up

Generous vacation

Virtual events

Professional development

Qualifications

• 5-7 years of commercial mortgage experience, including 2 years in defaults.
• Knowledge of mortgage enforcement remedies and foreclosures in Canada.
• Valid driver’s license and ability to travel.

Responsibilities

• Manage complex delinquent and problem commercial mortgages.
• Perform underwriting, collateral analysis, and valuation for defaulted loans.
• Prepare reports for Senior Management and regulators.

Skills

Analytical skills

Problem-solving

Negotiation

Communication

Education

Business degree

CPA or equivalent experience

Tools

MS Office

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. 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, serving over 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank, and has 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 manage over $125 billion in assets, driving change in Canadian banking to enrich people's lives. Our digital platform, eqbank.ca, has been recognized as one of the top banks in Canada on the Forbes World's Best Banks list since 2021.

The Work

The Special Loans and Restructuring Manager is responsible for managing commercial default files, including problem accounts such as conventional and construction facilities, adhering to underwriting standards, policies, and AML requirements. The role involves enforcing mortgage contract conditions on defaulted facilities, providing proactive resolution strategies to avoid legal action, and minimizing losses. The manager will coordinate with internal and external stakeholders, including legal counsel, real estate agents, brokers, and other departments, representing the Bank professionally to ensure timely transaction processing.

The role supports the Director of Special Loans and Restructuring by performing default management functions such as credit analysis, portfolio monitoring, reporting, and administrative duties, including ad hoc requests. The manager will also assist with site inspections for portfolio management and default loans.

Core Responsibilities:

1. Manage and administer complex delinquent and problem commercial mortgages, process legal actions for non-payment, conduct financial reviews, and recommend remedies while ensuring compliance and timely enforcement.
2. Perform underwriting, collateral analysis, and valuation for defaulted loans, ensuring risk elements are addressed and risk ratings are updated and reported.
3. Work closely with the Mortgage Services team to manage delinquencies and default loans, providing updates to Senior Management.
4. Assist in overseeing properties held by the Bank for recovery purposes.
5. Prepare reports for Senior Management, the Board, and regulators, including problem loan and arrears reports, and conduct ad hoc analyses as needed.
6. Collaborate with Senior Management to improve operational efficiency, participate in projects, and implement new policies and procedures.

Qualifications:

• 5-7 years of commercial mortgage experience, including at least 2 years in defaults.
• Business degree, CPA, or equivalent experience.
• Knowledge of mortgage enforcement remedies and foreclosures in Canada.
• Strong analytical, problem-solving, negotiation, and communication skills.
• Proficiency in MS Office; valid driver’s license and ability to travel.

Job Complexities:

• Ability to make sound decisions with limited information, follow policies, and manage multiple time-sensitive, unique defaults. Requires strategic thinking and market knowledge for solutions.

#LI-Hybrid

What We Offer:

• Competitive bonus, RRSP match, benefits, share purchase plan, parental top-up, generous vacation, virtual events, professional development, and more.

The role is hybrid, based at 2200-25 Ontario Street, Toronto, ON.

Equitable Bank values inclusion and diversity, providing accommodations during the recruitment process. All candidates must pass background and credit checks. We look forward to meeting you!