Job Description

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we\xe2\x80\x99re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage\xe2\x84\xa2 product.

Our Values, Our Passion
At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

We Are Customer-Focused, Passionate Advocates.

We Have the Courage to Act and Do the Right Thing.

We Are One Team, with One Vision.

We Think Long-Term, We Are Ever-Evolving.

We Strive to Be Exceptional and Inspire Greatness.

POSITION SUMMARY:
Reporting to the Director, Credit, the Manager, Credit and Mortgage Underwriting, is responsible for ensuring the Credit department underwrites each mortgage application assessing the collateral and the client\xe2\x80\x99s credit worthiness, following Bank\xe2\x80\x99s policies and guidelines. Builds and maintains effective relationships with Sales and Operations Leadership in order to develop creative solutions that efficiently and effectively manage client expectations while ensuring adherence to all applicable risk and compliance guidelines.
The position plays an important role within the Bank because it requires a deep understanding of credit underwriting, appraisals management, mortgage terms, risk management, internal controls and regulatory compliance.

MAJOR ELEMENTS OF THE ROLE:

• Developing, coaching, mentoring and leading a high performing team of Underwriters
• Stakeholder management, escalations, relationship building
• Policy and procedure implementation and management, ongoing adherence/review
• Control and quality testing/audits
• Manage relationships with our suppliers and service providers to strengthen our business
• Manager internal relationships with Sales and liaise with other internal departments to articulate their needs and adopt strategies to support their needs
• Preparing and presenting insightful quantitative and qualitative analysis to Senior Management \xe2\x80\x93 for what purpose?
• Develop and present business cases to support Operations driven projects or initiatives
• Design, implement, and oversee all key aspects of performance metrics to evaluate performance and ensure adherence to vendor Service Level Agreements (SLA\xe2\x80\x99s)
• Reporting
• Appraisals management \xe2\x80\x93 originations and appraisals
• Review and approval of mortgage applications and escalations
• People \xe2\x80\x93 supports the Director, Credit by providing high quality input to performance assessments
• Lead projects and key priorities on behalf of the Credit department

Specific elements of the role include but are not limited to:
Leadership:

• Coach, mentor, train and lead a team of Underwriters and Team Leads
• Establish objectives with staff, conduct performance reviews and monitor relative to those objectives

Business Performance:

• Ensure that all submitted credit applications are underwritten in an efficient and timely manner within the parameters of the Bank\xe2\x80\x99s regulatory requirements and defined policies
• Make prompt decisions on escalated Underwriting decisions requiring review and secondary approval as appropriate and permitted
• While applying the principles of OFSI, balance looking to adopt unique solutions on deal structure to help prospective clients while ensuring we independently adhere to Bank policies
• Be a critical contributor to the Bank\xe2\x80\x99s operational efficiencies by identifying and proposing effective solutions to maximize process efficiency
• Play a lead role in reviewing quality metrics, performance, and overall controls
• Interpret data and provide insights to derive performance efficiencies and drive to change to policies or influence projects
• Develop and maintain comprehensive procedures
• Develop and implement solutions on a timely basis to address any identified control gaps or opportunities
• Act as subject matter expert on cross-functional projects as assigned, actively contributing to the digitization of the function and development of the risk framework
• Review audit reporting, identifying areas of opportunity to address with team and create and implement action plans
• Maintains professionalism in all dealings with internal and external parties to maintain the reputation of the Bank
• Balance risk and opportunity by looking for solutions on mortgage structures while ensuring adherence to Bank\xe2\x80\x99s policies and guidelines
• Implement solutions on a timely basis to address any identified control gaps or opportunities

Reporting:

• Provides regular and adhoc reporting to Management with qualitative commentary and insights
• Measure processing and capacity efficiencies, looking for opportunities to improve quality and turnaround times

Appraisals:

• Ensure monthly appraisal process is executed
• Coordinate appraisals of properties as required per Bank\xe2\x80\x99s policy
• Review and resolve exceptions
• Review and coordinate appraisal escalations and issues with appraisal management company and internal partners
• Orders and reviews ad-hoc re-appraisals as required
• Reports on variations in valuations to management and other stakeholders

SKILLS AND EXPERIENCE REQUIRED:

• Post-secondary education and/or equivalent experience
• Experience leading high-performance teams
• Experience with reporting and data analytics
• Experience preparing and providing analysis and presentations for management
• Experience managing vendor relationships
• Experience with policy management, audits and OSFI reviews
• Experience at a Canadian financial institution
• Experience in Credit/Mortgage Underwriting

ATTRIBUTES:

• Collaborative leadership style with the ability to take initiative
• Ability to work independently and know when to make decisions and when to seek input from others
• Effectively manage multiple projects under time constraints while maintain daily business performance
• Effective communication skills with the ability to establish healthy working relations and partnerships
• Demonstrated planning abilities with excellent written and verbal communication skills
• Excellent computer skills \xe2\x80\x93 Microsoft Office (Outlook, Word, Excel, PowerPoint).
• Ability to speak French is an asset

Working Conditions Unique to Job

• Standard office environment
• Hybrid Work schedule with 3 days in the office

WHY WORK AT HOMEEQUITY BANK?

Great Environment
HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility \xe2\x80\x93 an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture \xe2\x80\x93 With People at the Centre
We believe our people make all the difference, and our tireless commitment to inclusivity, professional development, and employee engagement/experience has been recognized through awards including the Canadian Mortgage Professional (CMP) Top Mortgage Employer 2023 (third year in a row), Achievers 50 most Engaged Workplaces 2023, Waterstone Canada\'s Most Admired Corporate Cultures 2022, Globe and Mail\xe2\x80\x99s Report on Business: Canada\xe2\x80\x99s Top Growing Companies 2022 (third year since 2019), Strategy Online Top 10 Brands Awards (at #8).

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development, as well as providing employees unlimited access to LinkedIn Learning.

Celebrating Great Work and People
We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say \xe2\x80\x98great job\xe2\x80\x99 to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President\xe2\x80\x99s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program also recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with the opportunity to take a paid day off each year to support their favourite local charity.

The Perks
HomeEquity Bank offers a competitive total rewards package that includes the following:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness

Stay in the Know

Find out what we\xe2\x80\x99re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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Chip.ca