Senior Underwriter, Insurance Lending Solutions
Toronto
Insurance Lending and Wealth Solutions – Insurance Lending and Wealth Solutions /
Full Time /
Hybrid
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.
Are you interested in learning about a unique lending product? Have experience in commercial underwriting? Have an interest in learning about Cash Surrender Value (CSV) lending? Are you looking to work with a small but motivated team eager to drive exponential growth? This may be the right role for you. The Senior Underwriter is responsible for conducting expert credit reviews across the entire suite of Insurance Lending products which includes Immediate Financing Arrangements (IFA), CSV Max, and CSV Flex applications. The incumbent will be responsible for adjudicating complex corporate and personal credit applications will maintaining excellent service levels.
The Work
- Assess the credit worthiness of both commercial (corporate) and individual borrowers, while adhering to the Bank’s lending guidelines and policies.
- Provide recommendations and approvals within designated limits, including those of peers when necessary. Ensure that approved deals close as scheduled and as efficiently as possible, by following up on outstanding conditions/documents and ensuring compliance with established guidelines.
- Demonstrate a comprehensive understanding of the nuances of Whole Life Insurance policies, including their structure, functionality, as well as the impact of future policy changes on the credit portfolio.
- Deliver exceptional, customer-centric service to both internal and external stakeholders; participate in sales meetings, as required.
- Mentor team members on credit adjudication and compliance practices.
- Actively engage in team efforts and support colleagues.
- Maintain a high level of professionalism in all interactions.
- Support other areas within the Growth Business unit as required
Let's Talk about You
- Demonstrated ability to coach and mentor more junior employees.
- Autonomous decision making on files of greater complexity. Post-secondary education in business or finance.
- In-depth knowledge of commercial underwriting and financial statements analysis.
- Proficient underwriting skills, with a minimum of 2-4 years of commercial lending experience.
- Insurance lending experience preferred
- Exposure to and knowledge of whole life insurance products is highly preferred.
- Strong analytical and problem-solving skills, with the ability to assess credit applications holistically.
- Sound knowledge of AML & ATF practices. Excellent time management, analytical and problem-solving skills, able to handle multiple competing priorities. Ability to make decisions under pressure.Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment.
- Excellent relationship building skills.
- Knowledge of fraud risk in the credit and insurance industries and the ability to address concerns relating to suspected misrepresentation is required.
- A desire and a willingness to join a growing team and evolving product.
- Proficiency in MS Office (mainly MS Word and Excel).
- CFA/CPA as well as the ability to speak Mandarin would be an asset.
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
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!
