Underwriter

International Financial Group; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

A Top 5 Bank in Canada seeks an Underwriter for a 6-month contract in Toronto with potential for extension. This hybrid role focuses on evaluating residential mortgage and real estate applications, ensuring compliance with established guidelines. Ideal candidates will have 2-4 years of underwriting experience and strong analytical skills.

Qualifications

• 2-4 years of retail mortgage underwriting experience.
• Experienced in evaluating income and down payment documents.
• Good understanding of risk mitigation strategies.

Responsibilities

• Evaluate residential mortgage applications and ensure they meet risk parameters.
• Negotiate decisions on applications, including approvals or declines.
• Conduct thorough risk assessments on complex applications.

Skills

Analytical skills

Negotiation

Risk assessment

Attention to detail

Education

University degree

Tools

Outlook

Excel

Job description

Our client, a Top 5 Bank in Canada, is looking to hire an Underwriter for an initial 6-month contract with a possibility of extension or conversion. This role is currently hybrid, requiring 1-2 days per month in the office in Toronto.

You will be responsible for supporting the review and approval of residential mortgage and real estate applications. As an Underwriting Analyst, you will play a crucial role in ensuring that applications are processed timely and effectively, following established guidelines and authorized lending limits.

Responsibilities Include:

• Evaluate residential mortgage and real estate applications by meticulously reviewing documentation and information provided, ensuring alignment with risk parameters and insurers' guidelines.
• Utilize negotiation skills to make informed decisions on applications, including approval, recommendation, or decline, adhering to established processes and lending limits.
• Conduct thorough risk assessments and prepare recommendations for managers or senior underwriters for applications that surpass authority limits.
• Manage correspondence with internal and external stakeholders such as insurers, appraisers, and solicitors to facilitate the underwriting process.
• Demonstrate strong analytical skills in reviewing credit information and ensuring applications meet quality standards and guidelines.
• Work efficiently in a fast-paced environment, managing high volumes and short timelines while maintaining due diligence and quality.

Must Have Qualifications:

• 2-4 years of retail mortgage underwriting experience, primarily residential mortgages.
• Experience reviewing and evaluating documents such as income, down payment, offers, etc.
• Experience in rationalizing exceptions (as they will be making exceptions themselves).
• Good understanding of risk mitigation strategies.

Nice to Have:

• Any broker or underwriting course experience.
• Proficiency in Outlook and Excel.
• A university degree.
• Familiarity with Canadian rules and regulations.