Underwriter

IC Savings; Toronto; On-site; CAD 60,000 - 90,000; Full time

Job summary

An established industry player is seeking a skilled Underwriter to join their dynamic team. In this pivotal role, you will be responsible for the adjudication and underwriting of a full range of lending solutions, particularly mortgages, while maintaining high standards of quality and service. Your expertise in retail credit adjudication and mortgage underwriting will be crucial in evaluating applications and ensuring compliance with guidelines. This is an exciting opportunity to contribute to a growing organization that values its employees and fosters a collaborative environment. If you are passionate about finance and customer service, this role is perfect for you.

Qualifications

• 5+ years of retail credit adjudicating experience in the banking industry.
• Completion of post-secondary education and relevant mortgage underwriting experience.

Responsibilities

• Evaluate and recommend complex residential mortgage and loan applications.
• Negotiate and structure received mortgage applications according to policies.

Skills

Retail Credit Adjudication

Mortgage Underwriting

Customer Service Excellence

Interpersonal Communication

Analytical Skills

Education

Post-secondary Education in Finance

Relevant Mortgage Underwriting Courses

Tools

MS Word

MS Excel

MS Outlook

Job description

1 week ago Be among the first 25 applicants

IC Savings is a credit union that focuses on bringing the benefits of co-operative banking to more than 17,000 personal and business members, whether online, by mobile or in branch at its eight locations in the Greater Toronto Area. To learn more, visit www.icsavings.ca.

Job Overview

The Underwriter is responsible for the adjudication and underwriting of full range of lending solutions, with emphasis on mortgages within IC Savings’ risk appetite. The role is responsible for ensuring submitted applications are adjudicated within IC Savings’ high standard of quality while maintaining the highest level of service and reputation with our Mortgage Broker partners.

Major Duties & Responsibilities

Credit Review, Analysis and Recommendation:

• Evaluate, assess, and recommend complex residential mortgage and loan applications to Management by assessing member’s credit history, collateral and income or ability to pay within IC Savings established guidelines, policies and procedures.
• Apply key underwriting principles to underwriting and risk evaluation of applications in compliance with internal and external regulatory guidelines.
• Maintain minimum funded volumes, as assigned.
• Underwrite and maintain loan and mortgage applications submitted from retail branches and refinancing applications referred by the Retention team.
• Actively promote sales of existing lending products, up-sell and cross-sell IC Savings’ full range of lending solutions with a focus on residential mortgages.
• When required, assist Senior Underwriter with training broker community on new mortgage offerings.
• Successfully contribute to the Residential Lending results, ensuring growth and profitability targets are being met.
• Negotiate, structure, and evaluate received mortgage applications according to internal policies
• Follow AML procedures on all files with an emphasis on “Know Your Member” rules.
• Adhere to compliance and operational risk controls in accordance with company’s policies and procedures.
• Manage portfolio risk by exercising consistent, objective and sound credit decisions, escalating with rationale to support recommendations, where appropriate.
• Maintain minimum funded volumes, as assigned.
• Effectively interact with Solicitors, Mortgage and Funding staff to ensure proper workflow and funding procedures.
• When required, interview loan and mortgage applicants, assist in the proper completion of credit applications, analyze financial information, assess credit, and make recommendations for approvals/declines.
• Actively participate in all IC Savings’ campaigns and promotions and champion the organization’s sales-oriented culture.
• Maintain both a high personal profile and the reputation of IC Savings as the financial institution of choice amongst the Mortgage Broker community.

Other Functions:

• Keep up with the latest industry knowledge, competition, and market trends.
• Work in collaboration with the team to ensure targets are being met.
• Perform other duties, as assigned.

Minimum Skills and Knowledge Requirements

• 5+ years of retail credit adjudicating experience in the banking industry, with at least 2+ years in the alternative mortgage lending space.
• Completion of post-secondary education in combination with relevant mortgage underwriting experience and job-related courses/education.
• Self-starter, self-motivated, creative and entrepreneurial with solid interpersonal and communication skills and an ability to work within a team environment.
• Strong English written & oral communication skills; excellent phone etiquette; proficiency in other languages an asset.
• Existing broker relationships preferred.
• Proficiency in MS Word, Excel, and Outlook.
• High degree of numerical competency.
• Strong focus on customer service excellence, organization, attention to detail and sense of urgency; ability to prioritize and meet deadlines.

Working Conditions/Physical Effort

• Professional, team oriented, office environment.
• Core business hours based on 37.5-hour work week: Monday to Friday from 9:00 am to 5:00 pm; ability to work extended hours, if required.
• The physical demands are representative of those that must be met by being able to successfully perform the essential functions of the job; these include, but are not limited to sitting, considerable use of computer and phone, seldom moving items up to 25 pounds in weight.

How to apply?

If you think you have what it takes to be a successful member of our team, please submit your resumé directly to IC Savings at [e-mail] (do not submit applications via LinkedIn). In the subject line, please specify " Underwriter ".

IC Savings is committed to accommodating people with disabilities as part of our hiring process. If you have special requirements, please advise Human Resources during the recruitment process.

IC Savings has implemented Covid-19 vaccination policy, requesting all employees, including new hires, to be fully vaccinated. The requirement to be fully vaccinated is subject to the Ontario Human Rights Code, and the Company will provide suitable accommodation, whenever possible, to individuals who cannot be vaccinated due to disability or other grounds protected by the Code.

While we thank all applicants for their interest, only those selected for an interview will be contacted.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

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