Senior Manager, Reverse Mortgage

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 Senior Manager is responsible for providing day to day leadership, mentoring and guidance to team members whilst ensuring the team operates efficiently and in accordance to Bank policy.

In partnership with the Senior Director and other Reverse Mortgage team members, the Sr. Manager will support the implementation of plans for the rapid growth of reverse mortgage business line.

In this role, the Sr. Managermust be highly knowledgeable about Equitable Bank’s product suite and the broader retirement financing market in order tosupport prospective deals and partnerships. This position requires exercising independent judgment to perform the responsibilities described herein.

As a key member of the Equitable Bank Reverse Mortgage team, establish an exceptional standard of care and behaviour with all internal and external stakeholders. 

This position will be in Toronto and may require travel to other Bank markets. 

Prudent Lending, Credit Risk Management and Fulfillment

• Be accountable for ensuring that respective team members comply with Bank policies and guidelines. Be the first point of contact for escalations within the team and make prudent decisions in a timely fashion.
• As applicable, for both you and for staff, decline, recommend, approve and fulfill applications within your prescribed lending limits. 
• Exercise mature judgement in credit decision making; escalate to higher authorities as required.
• Maintain the effective inventory of underwriting and related follow-on guidelines. Ensure team is familiar with credit and process changes as applicable. 
• Identify and remove barriers to effective operations and present process recommendations to management. 

Credit Operations, Productivity and Broker Service

• On a regular basis, assist with daily underwriting and fulfillment to ensure service levels are met or exceeded. Follow up with mortgage brokers or advisors from time to time to ensure the timely collection of outstanding documents to achieve optimal productivity and customer service. Be responsible for the efficient management of files prior to funding to ensure that approved deals close in a timely manner and within established guidelines.
• Maximize the productivity of the team and rectify challenges as required. Provide valuable timely feedback on team member performance and seek out training opportunities for staff as required.
• As needed, engage with external contacts to resolve issues, learn about competitive dynamics relevant to the Bank. 

Leadership

• Assume a senior role and lead respective team by providing support, guidance and mentoring to team members and others across the Bank. 
• Encourage an entrepreneurial, yet disciplined culture amongst team members bringing energy and perseverance to all activities.
• Provide the highest level of internal and external customer service while fielding external inquiries and building strong working relationships.
• Nurture a high-performance culture within the team. 
• Train the team on underwriting and fulfillment of reverse mortgage transactions. 

Effective Reporting and Communication

• Create and maintain various reports which will assist with the management of the team’s daily workflow and individual staff performance. Use the data obtained from reporting to motivate, mentor, support and lead the team. 
• Communicate with staff members to ensure Bank goals and objectives are understood and achieved.
• Communicate with external contacts and business partners to strengthen and promote the Equitable Bank brand in the marketplace as well as to help drive higher Net Promoter Scores. 
• Meet regularly with business unit management to provide updates on outstanding projects. 

Let's Talk About You!

• 7-9 years’ mortgage experience in the mortgage market, Alternative or Reverse mortgage experience would be an asset. 
• 2+ years’ mortgage underwriting experience. 
• 5+ year of management experience. 
• Strong leadership and coaching skills. 
•  Reverse mortgage lending or single family residential mortgage lending experience is an asset/plus!
• Established and meticulous organizational skills. 
• Sound multi-tasking skills and excellent attention to detail. 
• Autonomous ability to make decisions under pressure. 
• Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner. 
• Excellent time management, analytical and problem-solving skills. 
• Committed to providing superb customer service. 
• Demonstrated ability to use MS Office (MS Word and Excel). 
• Sound knowledge of mortgage lending. 
• Completion of a post-secondary degree preferably in a financial field. 
• Proven ability to thrive and perform well in a constantly changing, high volume and high intensity environment. 
• Sound knowledge of AML & ATF practices. 
• Elevated knowledge of fraud risk in the mortgage industry. 
• Fluency in French considered an asset. 

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!