Director, Mortgage Enforcement
Toronto
Mortgage Services – Mortgage Services /
Full Time /
Hybrid
Join a Challenger
Being a traditional bank just isn’t our thing, so we challenge ourselves to get creative in providing innovative banking solutions for Canadians.
How do we get there? With a talented team of inquisitive and agile challengers that break through the status quo. So, if you’re passionate about redefining the future of banking—while having fun—this could be your next big opportunity.
Our company continues to grow, and today 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.
Purpose
The Director, Mortgage Enforcement is responsible for oversight and management of the Bank’s Personal Banking mortgage portfolio in default. The Director is an expert in mortgage enforcement and is responsible to effectively oversee the default portfolio to ensure financial loss mitigation and cost management. The incumbent is the key contact for both internal and external stakeholders and partners and is required to build and maintain professional and effective relationships.
The Director prepares and delivers materials to Senior Management to display results and trending for impaired loans, including specific provisions and forecasts, in a concise and professional manner. The Director provides direction and support to the Defaults Team as required and ensures solid documentation of, and adherence to, company policies and procedures.
The Work!
- Oversight of Personal Banking portfolio (including Single Family, Reverse Mortgage, Insurance Lending and Small Commercial) under enforcement; recommend appropriate resolutions to ensure effective proceedings while minimizing costs and loss to the Bank.
- Lead Mortgage Enforcement team to success by mitigating losses through process change, industry insights, and coaching.
- Lead team initiatives including policy and procedure maintenance.
- Understand and ensure compliance with governmental, investor, and mortgage insurer guidelines.
- Manage the Bank’s provisioning process including reporting and forecasting.
- Supervise and manage external partners and related costs and SLAs (property managers, law firms, real estate agents, collection agencies).
- Prepare and present materials and reports to display results, trends, and forecasts for impaired loans, including specific provisions.
- Champion technical and process enhancements, working with key stakeholders both internal and external.
- Oversight of title insurance claims.
- Establish and report on team KPIs and manage performance reviews.
- Promote a culture of compliance, accountability, and customer-centric recovery.
Let's Talk About You!
- 5+ years of experience in residential mortgage enforcement at a financial institution; well-versed in mortgage enforcement practices across Canada
- 10+ years of management experience; demonstrated leadership and change management skills
- Business degree or a related discipline
- Solid knowledge of residential lending
- Excellent leadership, negotiation, and communication skills
- Proven people manager with focus on team engagement
- Proven client management experience
- Established and meticulous time management and organizational skills
- Proven ability to thrive in fast-paced, changing environment and demonstrated ability to perform and remain agile under high intensity conditions
- Excellent communication skills, both written and oral; ability to present and professionally communicate with Senior Management and other stakeholders (both internal and external)
- Proficient in MS Office
- Effective analytical and problem-solving skills
- Ability to work independently and make key decisions
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 and personal days
🖥 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 2200-25 Ontario Street, 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!
