Job Description

Join a Challenger


Being a traditional bank just isn\xe2\x80\x99t 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\xe2\x80\x99s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you\xe2\x80\x99re not afraid of taking on big challenges and redefining the future, you belong with us. You\xe2\x80\x99ll 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 370,000 people across Canada through Equitable Bank, Canada\'s Challenger Bank\xe2\x84\xa2, 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 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people\'s lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World\'s Best Banks 2023, 2022, and 2021 lists.


Purpose of the Job:


To assist the Commercial Mortgage Underwriting team with the underwriting of CMHC-insured commercial mortgage loans. The Intern will be trained on all aspects of underwriting the loans including analysis of rental income streams, borrower financial strength and key risk factors inherent in the lending decision. The Intern will also become familiar with the Bank\xe2\x80\x99s
established policies and underwriting standards as well as federal compliance regulations while finding creative solutions to achieve customer service goals and internal volume targets.


Work Term: January 8, 2024 to April 26, 2024.


Unposting date: November 10, 2023.

The Work

• 60% on a daily basis, the Intern will analyze and underwrite CMHC-insured commercial mortgage loans and perform annual reviews of the portfolio of CMHC insured loans. Time will be divided between the two areas as business demands require. Attention must be made to ensure that compliance with the company\xe2\x80\x99s established lending guidelines and procedures are followed with recommendations submitted for approval to management. The incumbent is responsible to ensure all lending criteria have been satisfied on deals underwritten and outstanding documentation/conditions, if any, are being met in a timely manner.
• 10% on a daily basis, the incumbent will communicate with external contacts (origination partners) and internal contacts (funders, managers, administrators) to ensure mortgage loan transactions are processed in a timely and efficient manner in order to deliver superior customer service and meet required funding deadlines.
• 10% on a daily basis, the incumbent is responsible for time management of their deal flow in order to meet prescribed deadlines.
• 20% on a weekly basis, the Intern will assist with various credit-related and administrative duties such as reporting, pipeline management and ad-hoc projects

Let\'s Talk About You!

• Currently enrolled in University or College program (Finance, Business, Accounting or Economics is preferred)
• Demonstrated ability using MS Office (Excel, PowerPoint, and Word)
• Strong organizational skills and demonstrated ability to work under pressure and adhere to tight deadlines
• Strong attention to detail
• Strong analytical skills
• Excellent oral and written communication skills with the ability to respond in a clear, concise and professional manner
• Ability to handle multiple competing priorities
• Ability to work in a fast-paced environment

How to Correctly Submit Your Application

• All applications must be submitted through our company website: https://jobs.lever.co/eqbank . Search for: Commercial Mortgage Underwriting Intern (CMHC), Winter 2024
• Please note that you must be an active student going back to school. Applications from students who have already graduated will not be accepted unless you need to do a co-op placement in order to graduate.
• Please scan together and submit ONE DOCUMENT that includes your transcripts, resume and cover letter. Please note that if the application is not completed properly, it will not be accepted.

What We Offer

• Competitive pay
• A modern work environment in Toronto, easily accessible by TTC
• A fun, relaxed, diverse work environment

What we offer [For full-time permanent roles]

\\uD83D\\uDCB0 Competitive discretionary bonus
\xe2\x9c\xa8 Market leading RRSP match program
\\uD83E\\uDE7A Medical, dental, vision, life, and disability benefits
\\uD83D\\uDCDD Employee Share Purchase Plan
\\uD83D\\uDC76\\uD83C\\uDFFD Maternity/Parental top-up while you care for your little one
\\uD83C\\uDFDD Generous vacation policy, personal days and even a moving day
\\uD83D\\uDDA5 Virtual events to connect with your fellow colleagues
\\uD83C\\uDF93 Annual professional development allowance and a comprehensive Career Development program
\\uD83D\\uDC9B A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience


The incumbent will be working hybrid and in office time will be spent working from Equitable Bank\xe2\x80\x99s additional office space located at 351 King Street East, Toronto, ON.

Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone\xe2\x80\x99s 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\xe2\x80\x99t wait to get to know you!