Commercial Funding Administrator, CMHC
Toronto
Commercial – Commercial /
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 370,000 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 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.
The Work
The Commercial Funding Administrator is responsible for the day-to-day maintenance of various funding and administrative tasks. Duties include preparing the Commercial Daily Funding Agenda and Pipeline reporting along with final report follow-up, tax calculation, wire remittances for third party refunds/fees and documentation validation. Additional responsibilities include data entries in PPLUS and special projects required by management. These duties involve liaising with the Bank’s lending partners, solicitors, and staff within the Commercial Funding & Servicing group and other internal departments.
The core parts of your role would be to:
- Daily, the incumbent will be responsible for the coordination, preparation, monitoring and delivery of the Daily Funding Agenda throughout the day, which is relied upon by senior management and several internal groups within the Bank.
- Daily, the incumbent will be responsible for pipeline reporting for BES, CFG and CMHC Funding groups and posting on Sharepoint.
- Daily, the incumbent will be responsible for completing the Validator report for BES, CFG and CMHC Funding groups and posting on Sharepoint.
- On a daily basis, the incumbent will complete supporting steps related to funding and post-funding activities (i.e. set up property tax accounts in PPlus and prepare tax calculations, set up Pre-Authorized Debit (PAD) Accounts in PPlus, cross-check wires, prepare and send client welcome letters), which are to be completed accurately and in a timely manner.
- On closed transactions, the incumbent will be responsible for uploading the Validator and Funding Checklist; any gaps identified will be escalated to the responsible funders.
- Once a transaction has closed, the incumbent will work with solicitors and partners to obtain final reports for all closed deals. In addition, to ensure data integrity for each loan in PPlus, the incumbent is required to leverage available reports to identify gaps or inaccuracies and solve or correct the issues.
- The Commercial Funding Coordinator will also process wires/refunds to various parties (brokers, solicitors, insurance consultants, borrowers, etc.) accurately and in a timely manner.
- On a weekly basis, the incumbent will be responsible for the preparation of specific and adhoc departmental reports which include but not limited to pipeline, data integrity, and cancellation reporting to be relied upon by Management. This entails regular communication and follow-up with Funders and internal servicing team. In addition, when required, the incumbent will be required to complete memos with supporting details for other departments to leverage their tasks.
- Periodically, the incumbent will also be asked to work with Management on specific projects and/or tasks that include system testing, documentation collection and reporting. Incumbent will be required to develop an adequate level of proficiency in internal suite of software applications used by the bank , primarily PPLUS, File Nexus and Cyberquery.
- Liaise daily with a variety of internal departments to address any unique adhoc issues that may arise and seek timely resolution.
- Understand and follow departmental policies, guidelines, and procedures
- Complete other tasks assigned at the request of Management
- Gather data and accurately prepare assigned departmental reports as scheduled
Let’s Talk About You
- Degree in business administration or finance or diploma program in a related discipline with a minimum of 1-2 years’ experience in administration and servicing of mortgage loans
- Experience in management reporting is considered an asset
- Strong working knowledge of MS Office (Word, Excel, Outlook, PowerPoint) is a must
- Strong attention to detail
- Strong analytical skills
- Strong organizational skills
- Ability to handle multiple competing priorities and meet deadlines
- Excellent time management skills
- Team-oriented
- Ability to solve problems and propose solutions
- Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
Job Complexities / Thinking Challenges
- The position requires the incumbent to be a self-starter and make sound decisions as efficiently as possible. Commercial mortgages can be complex in nature, requiring in-depth reviews of documentation. The incumbent must be able to work within established guidelines independently, prioritize workload, and accurately prepare reports. Ability to analyse complex funding and post-funding issues and liaise with the funding team, partners, servicers and clients. There will be times when situations arise and sound judgement in making decisions or recommendations will be needed.
#LI-Hybrid
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!
