11 Oct
EQ Bank
Toronto
Join a Challenger
Being a traditional bank just isn’t 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’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll 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 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank™,
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 six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
The Work: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’s established policies and underwriting standards as well as federal compliance regulations while finding creative solutions to achieve customer service goals and internal volume targets.
The Core Responsibilities Of the Job:
- 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’s 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
What we offer [For full-time permanent roles] Competitive discretionary bonus ✨ Market leading RRSP match program Medical, dental, vision, life, and disability benefits Employee Share Purchase Plan Maternity/Parental top-up while you care for your little one Generous vacation policy,
personal days and even a moving day Virtual events to connect with your fellow colleagues Annual professional development allowance and a comprehensive Career Development program 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’s 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’s 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’t wait to get to know you!