Business Development Manager - Reverse Mortgage

EQ Bank | Equitable Bank • Toronto, ON

5d • Hybrid

About The Position

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 800,000 customers 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 $142 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 Business Development Manager is responsible for developing the reverse mortgage origination volume potential of certain mortgage brokers in their assigned geographic areas while delivering on the Bank’s service commitment to the broker network. The BUSINESS DEVELOPMENT MANAGER prospects for new broker relationships and nurtures existing relationships to develop the origination volume potential of their assigned broker network and meet targets. The BUSINESS DEVELOPMENT MANAGER interacts with brokers primarily through non face-to-face communications and may be required to present or participate in person at training sessions, industry events and special events outside the office from time to time. Relationship management with brokers is strengthened through the BUSINESS DEVELOPMENT MANAGER’s positive personality, professional conduct and ability to deliver exceptional service in a highly competitive and dynamic market. Achieving origination volume potential will depend on the BUSINESS DEVELOPMENT MANAGER’s ability to assist brokers with identifying deals that fit within the Bank’s addressable market, promoting the Bank’s value proposition to win the business and assisting brokers and internal teams with getting acceptable deals closed. Success will also depend on the BDMs knowledge level of the broker network, the Bank’s products, internal processes and credit guidelines combined with the ability to work effectively with others on both the inside and external sales teams. The BUSINESS DEVELOPMENT MANAGER is to report directly into the Director, Residential Sales.

Requirements

• Two years’ residential mortgage Underwriting/Credit experience
• Outstanding interpersonal skills
• Self-directed and highly organized individual
• Agile time management skills with ability to multi-task
• Must possess a valid driver’s license and a clean driving record
• Completion of a college or equivalent post-secondary degree
• Strong written and verbal skills along with presentation experience
• Proficient with Microsoft Office: Word, Excel, PowerPoint

Nice To Haves

• Previous sales experience
• Proficient knowledge of Cyberquery or similar database reporting tool(s)

Responsibilities

• Develop the origination volume potential from brokers in their assigned geographic areas by generating new business and cultivating increased share of business from existing broker relationships.
• Prospect for new broker relationships and nurture existing relationships to develop origination volume potential and meet targets.
• Prospecting: Continually sourcing broker names from external and internal resources, scrubbing sourced broker names to produce a list of prospects, maintaining the prospects list, pro-actively cold contacting brokers to establish new relationships and routinely contacting warm leads, onboarding brokers (establishing agreements, welcome calls, collecting feedback), tracking prospecting activities.
• Business Development: Conducting training and product awareness sessions (primarily through webinars, sometimes in person), advising brokers on potential deal inquiries to improve submission quality, efficiency of credit assessment, and turn-around time, facilitating getting commitments to funded status by working efficiently with internal departments, adjusting focus and tactics to get deals closed, tracking submissions, deal status, funded volume and overall pipeline.
• External & Internal Relationship Management: Reflect the Bank’s values in all interactions, proactively engaging and building rapport with sales team members and credit teams, assisting credit in following up on outstanding commitments or documents, liaising with credit teams and others to resolve broker issues, assisting brokers with general questions about products and underwriting, probing, validating and sharing insights on brokers, competitive activities and market dynamics, distinguishing between being an effective champion for a broker’s deal versus interfering or duplicating roles of credit teams.
• Administration and Organization: Supporting informational needs and processes for the Single Family Residential team, creating a routine to capture, document and track interactions with brokers and feedback, providing required sales, productivity and activity reports in a timely manner, adjusting time spent and activities to balance prospecting and business development needs, providing weekly Crystalline status reports, updating rates and broker contact information, handling operational requests from others.

Benefits

• 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
• Professional development and comprehensive Career Development program
• A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree