Regional Business Manager (Toronto West)
Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $25 billion in assets under management. Most recently, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 600 employees across the country.
Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.
Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.
Job Title: Regional Business Manager – Toronto West
Department: Single Family Residential
Reports To: Manager Business Development
Purpose of Job
The Regional Business Manager (RBM) is responsible for maintaining existing and sourcing new broker relationships within specified territories and increasing revenues based on yearly targets set by the department and the Company in general. In this role, the RBM must be highly knowledgeable about Equitable Bank’s products to generate prospective deals while having a keen understanding of the underwriting process to ensure proper requirements are met for application submissions.
1. Sales Management (30%)
The RBM must be a highly organized individual who is self-directed to manage and report on the status of sales and market activity via broker visits and industry networking events. Success in achieving and exceeding sales targets for Prime, PATH, Alternative, and HELOC’s involves various steps as outlined below:
- Producing a Key Account list of Alternative 25 Brokers as part of the on-going EQB Sales strategy that will be updated on a yearly basis depending on the volume of business for those identified brokers. Must be completed and approved by the Manager Business Development (MBD) no later than the 15th of January. In the event of a blacklisted account or any other circumstances, the list must be completed and approved by (MBD) no later than the 15th of the month corresponding with the beginning of each quarter.
- Discuss every Friday with the Respective Credit Managers the Performance of the Alternative/HELOC/Prime Top 25 and PATH Top 3 to maximize production from key brokers as well as challenges and successes around service.
- Manage follow-up communications on all pending deals. Although this function is primarily performed by the underwriting team, the RBM will assist, when asked by credit during high volume times and leverage this opportunity to continue to build the relationship with these brokers. RBM’s are expected laisse with their credit managers as it pertains to pipeline management and then contacting the respective brokers in order to assist them in closing deals successfully, which in turn generates a greater rapport with those brokers.
- Completing monthly expense reports accurately and submitting by the deadline (2 business days after the end of every month) to their designated Senior Regional Business Manager in Central Canada and Manager of Business Development in Eastern/Western Canada. Approval to be given by the MBD.
- All new inquires and escalations from the Alternative/Prime Top 25 are to be handled by the Internal Business Development Representatives (IBDR) and the RBM must be readily available to assist in obtaining any additional information required.
- Escalations beyond the scope of the IBDR are to be sent to the Senior Regional Business Manager within Central Canada for best advice, and to the MBD for all other regions.
For Senior Regional Business Managers Only:
- Review expense reports of designated RBM’s.
- Providing “best advice” to their assigned Regional Business Managers – they are the first response for questions and deal escalations.
2. Sales Activities and Achievements (40%)
The RBM is expected to be out of the office at least four days a week to do pro-active sales calls to generate new business and to visit existing brokers with information about recent enhancements of products pertaining to Prime, PATH, Alternative, and HELOC’s, changes to services, the delivery of prize items, the distribution of promotional or new print materials to gain valuable face to face time. To achieve visibility and to build a wider broker network, the RBM must:
- Book a minimum of 3 scheduled “quality” broker meetings daily to solidify your existing relationships and to develop and maintain new broker relationships, scheduled at least a week in advance. When time permits additional “drop in” meetings are to be done also. Also ensure to meet at least once a month with the Alternative Top 25 List of Brokers and PATH Top 3 List of Brokers in order to discuss their efficiency ratios and obtain feedback from these brokers on any service related concerns.
- Identify opportunities to assist in selling our mortgage solutions to brokers partners, such the HELOC, when quotes and or commitments have been sent by credit underwriting.
- Provide mid-level analysis of the RBM’s region, upon request from the MBD, as to increase the efficiency of the business development function and be prepared to discuss at National meetings and weekly meetings with your Manager.
- Attend major industry events to bring heightened visibility to the company including attendance at golfing tournaments, broker holiday events and specific programs as well as annual trade shows (where applicable) and EQB related events, such as the Sales Offsite and the Company Town Hall
- Obtain market and competitor intelligence from key partners at Out of Town Conferences and provide feedback on the prescribed template to be discussed and archived by MBD no later then three days upon returning.
- Expected to be available after business hours to attend events and or service key brokers – events to be attended will be upon request by the MBD or could be voluntarily requested.
- Promotional or updated collateral must be disseminated upon receipt and followed up by the RBM for the Alternative/Prime Top 25 or PATH Top 3 via email that the material was received and understood.
3. Presentation Skills (15%)
An integral element of sales is strong presentation skills which require clear messaging, product/credit knowledge. The RBM must be prepared with:
- Ensure the presentation is an approved presentation from the MBD. Ad Hoc Presentations without approval are not permitted.
- Acquiring the proper collateral materials and the most up to date promotions for distribution.
- Intimate knowledge of product promotions. Ensuring that they are working with the most recent sales presentation covering products pertaining to Prime, PATH, Alternative, and HELOC’s, addressing Equitable policies on Anti Money laundering and Terrorist Financing and pertinent compliance requirements.
- Inclusion of credit in presentations is also expected, pending approval from the Credit Managers.
- Addressing any other broker related questions/concerns
- For Senior Regional Business Managers Only:
- Senior RBM to attend quarterly RBM presentations and provide feedback.
- Prepare and present “Did you know” Workshops meetings with Sales and Credit Managers
4. External & Internal Relationship Management (15%)
As a representative of the Company, the RBM will reflect the Company’s image of integrity, quality and knowledge in the industry. As the major interface between the broker and the Company, the RBM will work with their credit team to ensure superior service is being offered and the broker experience is professional and positive. RBM may be expected to be:
- The RBM is expected to relay any service related issues to their MBD.
- Participating in brokerage house events – sales presentations, lender appreciation programs, holiday and special occasion programs, which may occur outside of business hours.
- Take part in industry associations in order to establish an Equitable Bank representative in an association as well as obtain valuable industry information. Note that the expectation is for an RBM to serve a min of 1 year on an association and provide opportunities for others to serve the following years, alternating each year. This is to be managed by the MBD.
- If no association available for participation, take part in other industry related events including charitable ones. (i.e. MPC/CMBA golf registration, Mortgage Alliance rally of hope, Invis – Angels in the Night)
- Speaking at company sponsored events with appropriate messaging provided by the marketing & communications department.
- Assisting credit during an influx of deals with the assistance of IMBD
- Covering for other RBMs during unscheduled and scheduled time off. Ideally a member of your regional team.
- Sponsorship requests must be completed with the request form and 2 years of cyberquery data for funded volume pertaining to the broker in question and sent to the MBD for approval.
- Vacation days are to be approved via Dayforce by the MBD.
- Strong written and verbal skills
- Proficient on Microsoft Office – Word, Excel, and Power Point
- Previous sales and or underwriting experience in the industry
- Self directed and highly organized individual who can multi-task
- Must possess a driver’s license and a clean driving record
- Completion of a college or equivalent post-secondary degree
- 5 years in the related industry
- Outstanding interpersonal skills
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process. 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.
- Pay Type Salary
- Equitable Bank, Toronto, Ontario, Canada