Reverse Mortgage Specialist

Company Overview

EQ Bank is an innovative challenger bank in Canada, committed to transforming the banking experience with creativity and agility. Serving over 670,000 customers through Equitable Bank and supporting credit unions via Concentra Bank, we manage assets exceeding $125 billion. Our digital platform has been recognized among Forbes World's Best Banks since 2021. Our inclusive culture encourages learning, collaboration, and reaching new professional heights.

Role Overview

The Reverse Mortgage Specialist is tasked with evaluating new mortgage applications, issuing commitments, and gathering necessary documents to progress transactions to funding promptly and within guidelines. The role demands prudent lending judgment, operational efficiency, and dedicated service to enhance profitability.

Key Responsibilities

• Promptly reviewing applications daily, verifying documents for authenticity and accuracy, and making decisions to approve, decline, or escalate for approval.
• Ensuring timely closure of approved deals by managing outstanding conditions and maintaining compliance with policies.
• Actively liaising with brokers to maximize funding volumes through consistent follow-ups on mortgage commitments.
• Conducting thorough checks emphasizing anti-money laundering (AML) and anti-terrorist financing (ATF) standards, including income and down payment validations.
• Acting as the primary contact to provide underwriting expertise and mortgage fulfillment support to brokers, client representatives, and colleagues.
• Managing deal pipelines effectively to meet deadlines and service level agreements by using tracking reports.
• Evaluating applicants according to EQ Bank's Reverse Mortgage criteria by conducting tasks such as title searches, affordability assessments, property appraisals review, and ensuring compliance with internal and regulatory standards.

Qualifications & Experience

• Post-secondary education in business or finance fields.
• At least 2 years of mortgage industry experience, preferably with exposure to reverse mortgages.
• Strong verbal and written communication skills to interact professionally and clearly.
• Experience in single family residential mortgage lending or reverse mortgage lending is a notable advantage.
• Capable of managing time efficiently while applying analytical and problem-solving abilities.
• High attention to detail supplemented with strong organizational capabilities.
• Sound knowledge and application of AML and ATF requirements, with aptitude to identify and address potential fraud or misrepresentation.
• Experience with mortgage underwriting, funding, and quality assurance processes is beneficial.
• Familiarity with underwriting mortgages across multiple provinces adds value.
• Proficiency with Microsoft Office applications, notably Word and Excel.
• Ability to adapt and excel in dynamic, high-volume environments.
• Talent for cultivating and maintaining positive relationships with mortgage brokers.
• Commitment to continuous personal and professional development and staying updated on industry trends.
• Critical thinking skills to creatively handle non-standard or complex mortgage transactions.

Benefits

• Competitive discretionary bonus program.
• Generous RRSP matching scheme.
• Comprehensive medical, dental, vision, life, and disability insurance coverage.
• Participation in Employee Share Purchase Plan.
• Maternity/parental leave top-up benefits.
• Generous vacation and personal days policy.
• Virtual events fostering colleague connection.
• Annual allowance for professional development and structured career advancement programs.
• Opportunity to join a leading FinTech entity shaping a new banking model.

Additional Information

EQ Bank holds a strong commitment to diversity and inclusion, creating an environment that honors diverse perspectives and experiences. The recruitment process is designed to be barrier-free, and accommodations are available to support candidates throughout. Successful candidates must pass criminal background and credit checks. Only those whose qualifications closely align with the role will be contacted.