Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing!) family. Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada's Challenger Bank™ and have been around for more than 50 years. Equitable Bank's wholly owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2022 and 2021 lists.
Work Term: May 2023 – August 2023
Why Equitable Bank?
If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.
If you are passionate about the financial services industry and are looking for experience that will both challenge and provide you with an opportunity to learn and grow then Equitable Bank is the place for you! During your internship you will not only learn about the Bank and the functions of your department, but you will have the opportunity to participate in various volunteer opportunities as well as team building activities for all interns in the program!
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Purpose of Job- The Commercial Mortgage Officer is responsible for onboarding, maintaining and updating commercial mortgage files/pipeline report from the LOI acknowledgement stage to the funding stage by acting as a liaison between the Account Manager, Underwriting, Funding and Compliance departments, ensuring compliance with the Company’s established lending guidelines and requirements. Additional duties are also required including providing the Manager with administrative and clerical support and special projects required by senior management and networking with clients, brokers and other external business partners as well as staff within the Credit & Risk Management group and other internal departments.
Main Activities:- 30% - on a daily basis, the incumbent will on board loans by adding loans to SIT and RAISE platforms. Scrub the loan details against SFR watch/deny list and document the Broker verification process. The incumbent will scrutinize the contents of the file with a strong emphasis on anti-money laundering (AML) and anti-terrorist financing (ATF) requirements, to assess if CIF merges are required, review existing AML scores, ensure any STR/SATs are dealt with accordingly and archive all documents received to date to filenexus.
- 30% - on a daily basis, the incumbent will communicate with internal contacts (i.e. Account Managers, Underwriters, Funders, Compliance) and third party providers (i.e. Brokers, Partners, Clients) to obtain/review required AML documentation and act as a liaison between various groups within the department. Ensuring transactions are processed in a timely and efficient manner in order to deliver superior customer service, while ensuring compliance with the Company’s established AML policies and lending guidelines and requirements. Completion of the Fintrac form prior to funding and recommend to Management for approval.
- 20% - on a daily basis, generate CAFs by updating loan details in SIT as per approved LPD write ups, and recommend to management for approval.
- 10% - update statuses or closing dates as requested, process good faith deposit cheques on SIT, document loan cancellations on SIT, RAISE and FileNexus, prepare loan cancellation memos for fee reimbursement for senior management approval and cut reimbursement cheques from SIT or request wires from Funding.
- 10% - on a daily basis, assist the underwriters in preparation of draft commitments, instructing the funding dept, income analysis and employment verbal verifications, the incumbent is responsible for time management of their work flow in order to meet prescribed deadlines.
Knowledge/Skill Requirements- Currently enrolled in University or College program (Finance, Business, Accounting or Economics is preferred)
- Extensive working knowledge of MS Office (Word, Excel, Outlook, Power Point)
- Strong analytical skills
- Strong organizational skills
- Ability to handle multiple competing priorities
- Good time management skills
- Highly developed verbal and written communication skills with the ability to respond in a clear, concise, and professional manner
- Bilingualism is an asset
How To Apply- All applications must be submitted through our company website: https://jobs.lever.co/eqbank. Search for: Commercial Mortgage Officer, BES Intern
- Please scan together and submit ONE DOCUMENT that includes your transcripts, resume and cover letter. Please note that if the application is not completed properly, it will not be accepted.
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#LI-Hybrid
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, personal days and even a moving day
Virtual events to connect with your fellow colleagues
Annual professional development allowance and a comprehensive Career Development program
A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.
We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that 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. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.
We can’t wait to get to know you!