Renewal Advisor - 6 month contract

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 670,000 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 six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021. 

The Work

The Renewals Advisor is responsible for establishing and maintaining a professional relationship with borrowers and/or brokers whose mortgages are approaching maturity. They must review each individual file, assess clients’ needs, provide necessary information, and negotiate renewals with the ultimate goal of retention, while adhering to the bank’s set policies and procedures.

Retention (60%)

• Proactively establish and maintain contact with borrowers in the assigned portfolio of loans 90 to 180 days prior to maturity, positively representing the bank through the renewal process with a strong emphasis on superior customer service, ultimately with the goal of retaining them as Equitable Bank borrowers. This includes the ability to work professionally with authorized mortgage brokers. 
• Negotiate renewals within a predetermined pricing range, attempting to offer the borrower the best product while maximizing the bank’s profit, while adhering to the underwriting criteria, timelines and other policies and procedures. 
• Assess borrowers on an individual basis, making knowledgeable recommendations that are best suited to address their needs, whilst maintaining and upholding the Bank’s interest. This includes monitoring mortgages that no longer meet Equitable Bank’s risk assessment standards, working with these borrowers and/or third parties (brokers/lawyers) to ensure that they can transition in an efficient and timely manner.
• Be self-directed and organized, able to balance and upkeep the day-to-day maintenance of five months’ worth of loans in a large portfolio. This includes, but is not limited to, ensuring 24-hour turn-around time on email requests and one hour turn-around time on all phone messages. 

Administration (30%)

• Prepare loan renewal documents for individual borrowers, processing said documents once signed and returned by borrowers.
• Ensure all procedural and compliance requirements are met to minimize the bank’s exposure to risk and that all documents meet legal requirements and are electronically archived correctly for future reference. 
• Ensure all actions to the file are accurately and consistently documented on the customer tracking database. 
• Ensure the file has met all Anti-Money Laundering and Anti-Terrorist Financing requirements as stipulated by procedures to minimize the bank’s exposure to risk. 

Reporting (5%)

• Systematically track all interactions with borrowers and other external parties. 
• Keep monthly portfolio spreadsheets up to date and available for review by management upon request. 

Other (5%)

• Efficiently and accurately complete any additional projects and tasks related to SFR. Renewals that may be assigned by management. 
• Be team oriented, showing a willingness and ability to harmoniously work alongside other Equitable Bank employees in Renewals and other departments to better serve borrowers. 

Let's Talk About You!

• Completed post-secondary program in a related discipline and/or 2-3 years of experience in a related field. 
• Superior interpersonal and communication skills, both written and verbal. 
• Strong decision making and problem-solving abilities. 
• Ability to perform under pressure.  
• Basic mathematical skills. 
• Exemplary analytical abilities. 
• Strong customer service and negotiation skills. 
• Computer literate (MS Outlook, MS Word, MS Excel). 
• Self-motivated to meet tight deadlines. 
• Results/goal achievement oriented. 
• Ability to seamlessly balance multiple priorities simultaneously; organized multitasking. 
• Team oriented. 
• Working knowledge of residential mortgages and processes, and thorough understanding of products offered by Equitable. 
• A general understanding of current mortgage market trends. 

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 and personal days

🖥  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!