Manager, Commercial Administration
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: Manager, Commercial Administration
Department: Credit & Risk Management
Reports To: Director, Commercial Funding and Administration
Purpose of Job
The Manager, Commercial Administration is responsible for managing and supervising the Commercial Administration department to ensure that the department is providing optimum service, working efficiently and effectively as a team, adhering to established policies and procedures, meeting compliance and control requirements and achieving service goals.
- Review and approve subadvances, operating line advances, adhoc requests, partial discharges, annual reviews under $1.25mm, undertaking/holdback releases, investor/specialized financing servicing transactions including monthly remittances
- Ensure monthly follow up by team members are being completed for undertaking/holdbacks (new and old), final reports and adhoc requests (as required)
- Ensure PPSA renewals and CIF merges are completed in an accurate and timely manner
- Prioritize and assign tasks to team members appropriately to ensure quality and timely completion of duties
- Maintain excellent customer service levels
- Prepare specific reports which will be relied upon by Senior Management
- Motivate and support the professional growth of the team, including training, creation of development plans, Target setting, Performance Reviews, regular staff one-on-one meetings and team meetings
- Promote team engagement and the Bank’s Core Values
- Participate in management meetings, one-on-one meetings with Senior Management, department meetings, department events and special projects as assigned
- Assist with special projects and department initiatives
- Communicate and co-operate with external parties (Clients, Lending Partners, Solicitors, Brokers etc.) and internal staff members across all departments to provide optimum service, maintain business relationships and ensure polices, processes and procedures are adhered to.
- Assist the Director, Commercial Funding and Administration from time to time with reporting and implementing procedures within the Credit & Risk Department, in order to comply with the Company’s lending and regulatory requirements (i.e. Basel II, ICOFR, OSFI, CCPM, User Guides etc.)
- Assist Senior Manager and Counsel, Commercial Funding with the legal review of Specialized Finance transactions and other complex commercial transactions
- Minimum of 5 years’ mortgage experience
- Leadership training or managerial experience is required
- Experience in complex commercial real estate transactions
- Background in law, business or finance
- Required expertise includes but is not limited to:
- AML/ATF related legislation - PCMLTFA, PIPEDA, OBCA, etc.
- Real estate and contract law - Solid working knowledge of practices in multiple jurisdictions across Canada including Common Law and Civil Code in Quebec.
- Commercial property insurance requirements and practices
- Basic commercial real estate underwriting knowledge
- In depth knowledge of the Bank’s legal documentation for:
- Direct transactions
- Partner transactions
- CMHC securitized transactions
- Highly developed verbal and written communication skills with the ability to communicate to Senior Management in a clear, concise and professional manner.
- Demonstrate strong leadership skills with the ability to set strong examples for staff
- Strong analytical and risk assessment skills
- Excellent organizational skills
- Ability to handle multiple competing priorities
- Strong time management skills
- Good working knowledge of MS Office (primarily Word and Excel) and PPLUS
- Understand the importance of quality and timely customer service to external clients, solicitors, business partners and internal management and staff across all departments
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