Canada's Challenger Bank™
If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.
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 $31 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 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.
Analyst, Specialized Finance
Credit & Risk Management
Manager, Specialized Finance
Purpose of the Job
While adhering to established compliance and control requirements, the Analyst, Specialized Finance will be responsible for portfolio administration and writing credit risk analyses while assisting with the development, structuring and overall management of the Bank’s specialized commercial lending platform. The key focus will be placed on real estate and non-real estate secured operating lines of credit, equipment financing, portfolio acquisitions, “lend-to-lender” financing and other new opportunities across a diverse range of industries. Along with the other Analyst, the incumbent will assist in obtaining buy-in from Management on new deals, structures and asset classes. The analyst will also perform and learn financial analysis, modeling and valuation, co-ordinate and collaborate with internal teams to perform diligence activities and prepare presentation materials as required.
The Analyst will need to ensure that key policies, controls and processes are followed such that all relevant Bank stakeholders are involved with, and apprised of, new deal flow, operational requirements, and funding/reconciliation mechanics. Without limitation, Corporate Development, Accounting, Treasury, Finance, Payments, Commercial Funding and Credit will need to be actively engaged to ensure smooth loan fulfillment while minimizing operational and credit risk. The Analyst will complete ongoing portfolio management including, but not limited to, monthly, quarterly, and annual reporting requirements, in order to effectively manage exposure and prudently monitor risk associated with new and existing investments.
1. Portfolio monitoring and stakeholder management (65%)
Prepare reports for Management and ultimately monitor funded specialized finance deals including analysis of borrowing base and margin requirements, covenants, operating line usage, portfolio amortization and key risks
Develop familiarity with internal systems and gather relevant data from various internal sources
Monitor and maintain control mechanisms and standardized reporting documents which prudently monitor risk
Ensure internal Bank stakeholders are appropriately consulted during deal origination and thereafter to ensure amicable and cohesive relationships
Stay current on recent events and share findings with related Bank parties as necessary
2. Credit risk analysis (30%)
Prepare credit risk analyses on large transactions (typically $25.0 million+), primarily annual reviews
Perform and learn financial analysis, modeling and valuation
Prepare presentation materials as required
Support the development of business cases for new opportunities – manage the communication of findings and support on follow-up
Use and learn quantitative methods (e.g., Excel models) to develop insights that support decision making
Ensure compliance with the Bank’s established AML policies, lending guidelines and procedures
Ensure all lending criteria and outstanding documentation/conditions have been satisfied on all transactions, while being processed in a timely and efficient manner to deliver superior customer service
3. Business development and research (5%)
Along with the Director, Specialized Finance, participate in the development of new relationships and referral sources with the aim of identifying new and profitable lending opportunities
- Contribute to the brainstorming, structuring and problem solving process for new lending opportunities including market research to support business unit and enterprise strategy
- Scan various sources (e.g., news releases, journals, industry publications, etc.) to identify, track and monitor market, competitive and regulatory trends
- Perform interviews with internal and external parties to gather information and develop insights
- Post-secondary education (diploma/degree) in Business Commerce or related field
- 1-3 years’ experience in commercial and/or corporate lending. Experience in both real estate and specialized lending is considered an asset.
- Strong business acumen
- Excellent financial, analytical, and problem solving skills
- Excellent oral and written communication skills as well as attention to detail
- Proficient in using MS Office (Excel, Access, Power Point)
- Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
- Ability to handle multiple competing priorities
- CFA is an asset
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.