Reverse Mortgage Specialist (Underwriting and Fulfillment)

<strong>Join a Challenger<br><br></strong>At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.&nbsp;<br><br>We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.<br><br><strong>What's kept us moving?&nbsp;</strong> The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.<br><br>If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity. We can’t wait to get to know you!&nbsp;<br><br>We can’t wait to get to know you!&nbsp;<br>

<p><strong>The work !</strong></p>

<p>The Reverse Mortgage Specialist is responsible for assessing new mortgage applications, issuing mortgage commitments, and collecting required documentation&nbsp;for&nbsp;taking&nbsp;transactions&nbsp;to the&nbsp;funding&nbsp;stage in a timely and prudent manner within established guidelines. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.&nbsp;&nbsp;</p>

Main activities :

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<li>Daily, incumbents must promptly review received applications, verify the supporting documentation to ensure accuracy and legitimacy, approve,&nbsp;decline,&nbsp;or refer the applications for approval.&nbsp;&nbsp;</li>

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<li>The incumbents are also responsible to ensure that approved deals close as scheduled and efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines.&nbsp;</li>

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<li>The incumbent will follow up with brokers daily on issued mortgage commitments to ensure that funding volumes are maximized.&nbsp;</li>

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<li>The&nbsp;incumbent will review documentation for accuracy and legitimacy placing a strong emphasis on anti-money laundering (AML) and anti-terrorist financing (ATF) requirements, including but not limited to, income and down payment verification.&nbsp;</li>

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<li>The incumbent will strive to ensure that mortgage files&nbsp;are following&nbsp;the&nbsp;corporation’s established lending policies and procedures.&nbsp;</li>

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<li>The incumbent is responsible for the management of their deal flow&nbsp;to&nbsp;meet prescribed deadlines and SLAs. The incumbent&nbsp;will&nbsp;make diligent use of reports to track and manage the flow of all deals funding for their pipeline.&nbsp;</li>

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<li>Incumbents must provide the highest level of internal and external customer service while fielding mortgage broker inquiries and building strong broker relationships.&nbsp;</li>

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<li>Daily, be the main point of contact and provide underwriting and mortgage fulfillment expertise to mortgage brokers,&nbsp;direct-to-client representatives, and&nbsp;aid&nbsp;co-workers when required to meet the&nbsp;corporation’s&nbsp;service levels&nbsp;&nbsp;</li>

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<li>Maintain up-to-date knowledge of&nbsp;the policies, procedures, and products.&nbsp;&nbsp;</li>

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<li>Develop strong broker relationships including in-person meetings to help drive excellent NPS results without sacrificing credit&nbsp;quality.&nbsp;</li>

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<li>Assess an&nbsp;applicant’s&nbsp;fit with EQB’s Reverse Mortgage criteria, specifically credit worthiness and legal ability to assume a mortgage. Perform activities like, but not limited to title searches, property maintenance affordability calculators, review property appraisal and borrower documentation to meet internal policy and procedure, regulatory and file-specific requirements.&nbsp;&nbsp;</li>

<ul>

<li>Work closely with Management from SFR Credit, SFR Residential Operations and SFR Sales to evolve the EQB Reverse Mortgage product.&nbsp;Also, the incumbent will need to be comfortable working with a wide range of internal stakeholders to help them understand how EQB’s Reverse Mortgage product differs from peers.&nbsp;&nbsp;</li>

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<li>Taking initiative and having an urgency to ensure files are funded in a timely manner&nbsp;</li>

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Knowledge/Skill Requirements!

<p><strong>Knowledge/Skill Requirements!</strong></p>

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<li>Post-secondary education in business or finance.&nbsp;&nbsp;</li>

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<li>Minimum of&nbsp;2&nbsp;years’ mortgage experience, with preference given to reverse mortgage exposure.&nbsp;&nbsp;</li>

<li>Bilingual in French and english</li>

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<li>Highly developed verbal and written communication skills with the ability to respond in a clear, concise, and professional manner.&nbsp;</li>

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<li>Excellent time management, analytical and problem-solving skills.&nbsp;&nbsp;</li>

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<li>Excellent&nbsp;attention to detail&nbsp;along with established and meticulous organizational skills.&nbsp;</li>

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<li>Sound knowledge of AML &amp; ATF practices, and&nbsp;fraud risk in the mortgage industry and the ability to address concerns relating to suspected misrepresentation is&nbsp;required.&nbsp;</li>

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<li>In-dept knowledge of mortgage funding,&nbsp;QA,&nbsp;and underwriting guidelines&nbsp;is&nbsp;an asset.&nbsp;</li>

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<li>Experience in underwriting&nbsp;mortgages&nbsp;for properties located in different provinces&nbsp;is&nbsp;an asset.&nbsp;</li>

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<li>Proficient in MS Office (MS Word and Excel).&nbsp;</li>

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<li>Demonstrated ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment.&nbsp;</li>

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<li>Ability to develop and maintain positive working relationships with brokers.&nbsp;</li>

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<li>Commitment to developing him/her-self and to keeping abreast of industry changes and trends.&nbsp;&nbsp;</li>

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<li>Critical thinking for unique transactions requiring “outside-of-the-box” thinking&nbsp;</li>

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<p><strong>Job Complexities/Thinking Challenges&nbsp;</strong></p>

<ul>

<li>The incumbent is responsible for making lending decisions and recommendations, often under constrained timelines, without compromising credit risk and profitability. The incumbent should be prepared to manage files and documentation of greater complexity at times. The incumbent is required to follow the&nbsp;corporate&nbsp;policies,&nbsp;guidelines,&nbsp;and procedures to work through files and rationalize the recommendations or decisions made.</li>

<li>There are designated authorities and various levels of management reviewing recommendations and approving the mortgage applications and documentation submitted for senior level approval.&nbsp;</li>

<p><strong>Accountability&nbsp;</strong></p>

<ul>

<li>Incumbents operate under direct management, and their team’s performance is regularly monitored by the Manager, Reverse Mortgage Underwriting. Regular&nbsp;decision&nbsp;making&nbsp;pertaining to deal recommendations and pricing is&nbsp;required,&nbsp;however this is done under management supervision and guidance&nbsp;is available as required.&nbsp;Given time constraint challenges of the department, the incumbent will work with a fair degree of independence, occasionally on more complicated files, and must think and react accordingly. The incumbent will also assist and make themselves available to their&nbsp;teammates&nbsp;and less experienced staff.&nbsp;</li>

<li>The role will have a substantial impact on the success of the Single-Family Residential department in reaching its annual funding targets and other departmental goals.&nbsp;</li>

<li>The incumbents may have authority to approve reverse mortgage applications up to a specified approval limit, but this will be at the discretion of Senior Management.&nbsp;</li>

<p><strong>Managing Risk&nbsp;</strong></p>

<ul>

<li>All members of the Equitable Bank team are responsible for managing risk and compliance within their departments. As such, employees should maintain and demonstrate the highest standards of integrity and ethical conduct in accordance with Equitable Bank policies, guidelines, and directions.&nbsp;&nbsp;</li>

<p><strong>Key Internal and External Contacts&nbsp;</strong></p>

<ul>

<li>The Incumbent communicates daily with mortgage brokers, and when necessary, with the appraisers and solicitors. Daily communication with interdepartmental staff members also occurs. The incumbent is expected to provide underwriting and credit expertise for mortgage brokers and co-workers.&nbsp;</li>

<p><strong>Physical Demands/Working Conditions&nbsp;</strong></p>

<li>Normal office&nbsp;environment:&nbsp;there is&nbsp;moderate,&nbsp;job-related&nbsp;pressure linked to operating in a fast-paced environment, broker requirements, fixed closing dates, uncooperative business partners, etc.&nbsp;Occasional travel within Canada to other offices of the Bank and industry events may be required from time to time.&nbsp;Hybrid work is expected with 1-5 days in person depending on the level and seniority of the role.&nbsp;Work outside of normal business hours may be required.&nbsp;</li>

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What we offer [For full-time permanent roles]

&nbsp;

💰 Competitive discretionary bonus&nbsp;

✨ Market leading RRSP match program

🩺&nbsp; Medical, dental, vision, life, and disability benefits

📝&nbsp; Employee Share Purchase Plan

👶🏽 Maternity/Parental top-up while you care for your little one

🏝 Generous vacation policy and personal days

🖥&nbsp; Virtual events to connect with your fellow colleagues

🎓&nbsp; Professional development and comprehensive Career Development program

💛&nbsp; A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

&nbsp; Equity, Diversity &amp; Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives. We’re equally committed to supporting your growth, both professionally and personally.

We provide a barrier‑free recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.

EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.&nbsp;

To learn more, visit&nbsp;eqb.investorroom.com and eqbank.ca.