Specialized Finance Collateral Specialist

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

The Specialized Finance Collateral Specialist is responsible for validating the underlying collateral associated with each Specialized Finance transaction in order to ensure it is accurate and adheres to the terms of the relevant credit agreement. Additional duties are also required including loan set-up in PPlus, completion of draw requests, and special projects as required by the Associate Directors, and Managing Director, Specialized Finance, and AML/KYC review. The incumbent will be working closely with the Specialized Finance team, Commercial Funders and Administrators, Compliance, and other internal departments.

The core parts of your role would be to:

• Daily, the incumbent is responsible for carrying out the responsibilities of the Specialized Finance Collateral Management Team. These include, but are not limited to, management of the Purview tracking system and loan level collateral validation. (40%)
• Daily, the incumbent will assist with the maintenance of borrowers monthly reporting, along with the set-up/update of loans in PPlus to track and manage deal flow. The incumbent will work closely with Analysts and Associates to follow for outstanding conditions. (25%)
• Daily, the incumbent will process draw requests, ensuring all conditions for advances are met, including reviewing reporting and other relevant documentation, updating PPLUS, and working with Commercial Administration to ensure funds are sent on time. (25%)
• On a daily, weekly, monthly, and quarterly basis the incumbent will be responsible for the preparation of specific reports on assigned categories as well as contributing to special projects required for the team, which will be relied upon by Senior Management (10%).

Let's Talk About You!

• Bachelors’ degree considered an asset;
• Minimum of 1 year of commercial mortgage/administration experience;
• Working knowledge of MS Office (Word, Excel, Outlook, Power Point);
• Knowledge of PPlus considered an asset;
• Ability to create adhoc reports in Excel with practical knowledge in importing data for the use in report software, spreadsheets and graphs;
• Proven ability to capture and document information thoroughly;
• Creatively solve problems and propose solutions with minimal direction;
• Excellent attention to detail;
• Strong problem solving and analytical skills;
• Excellent time management and organizational skills;
• Ability to handle multiple competing priorities; and
• Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner.

Job Complexities / Thinking Challenges

• In this role you will be continuously challenged by the high level of information requirements and managing multiple activities, many of which will be time sensitive. The position requires you to be a self-starter and make sound decisions as efficiently as possible. Specialized Finance transactions can be complex in nature, requiring in-depth reviews of documentation.

#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!