Senior Account Manager, Special Loans and Restructuring

EQ Bank | Equitable Bank • Toronto, ON

9d • Hybrid

About The Position

The Senior Account Manager, Special Loans and Restructuring, is responsible for managing commercial default files, certain commercial loans designated as "problem accounts", which include but are not limited to conventional and construction facilities while adhering to underwriting standards and the Company’s policies and procedures (including AML requirements, as applicable). The incumbent is responsible for enforcing the conditions of the mortgage contract on facilities in default as directed by Management, while providing proactive and efficient resolutions/work out strategies to avoid legal action when feasible while minimizing losses to the Bank. The incumbent at times will act as the key primary contact for communicating and co-operating with both internal and external stakeholders (such as legal counsel, real estate agents, brokers, partners and other internal departments within the Bank) and representing the Bank in the professional community to ensure transactions are processed in a timely and efficient manner. The Senior Account Manager, Special Loans and Restructuring will provide direct support to the Associate Director, Special Loans and Restructuring by performing a variety of functions associated with default management, including underwriting/credit analysis, portfolio management/monitoring, reporting, projects and initiatives and other administrative duties, which may include ad hoc requests by Senior Management. In addition, the incumbent will assist with completing site inspections as required for portfolio management purposes and/or default loans.

Requirements

• Minimum of 5-7 years of commercial mortgage experience or related
• Business degree or a related discipline, and/or a CPA or similar professional designation or equivalent work experience
• Understanding of mortgage enforcement remedies and foreclosures across Canada
• Effective analytical and problem-solving skills
• Sound technical knowledge of secured lending and factors affecting the commercial mortgage market, with strong understanding of end-to-end processes
• Established and meticulous time management and organizational skills
• Sound multi-tasking skills with strong attention to detail when handling multiple competing priorities under tight timelines
• Proven ability to thrive in a constant changing environment and ability to perform under a high intensity environment
• Self-starter with the ability to work independently
• Developed and effective negotiation and communication skills, both oral and written
• Excellent presentation skills and ability to professionally communicate with Senior Management and other stakeholders (both internal and external)
• Proficient in MS Office
• Possess a valid driver’s license
• Ability to travel within the provinces, with some overnight travel required from time to time

Nice To Haves

• Previous default experience preferred

Responsibilities

• Manage and/or administer complex delinquent and problem commercial mortgages (generally loans exceeding $2.5MM) while minimizing losses to the Bank
• Process loans for legal action for non-payment (including past maturities, tax arrears, insurance cancellations, bankruptcies/liens, etc.) and conduct full financial review prior to recommending appropriate legal remedies to Senior Management
• Manage legal action loans and enforce on remedies/conditions as warranted, while ensuring compliance with established default/workout strategies are implemented in a timely and efficient manner
• Liaise with key stakeholders, both internal and external, to determine and negotiate successful workout strategies
• Perform, review and correlate all aspects of underwriting (including collateral analysis and valuation) for defaulted loans and problem accounts, while ensuring that each submission addresses heightened risk elements, as identified
• Monitor and ensure risk ratings on default loans are updated timely and reported to the appropriate internal stakeholders
• Work closely with the Mortgage Services team and provide assistance to manage, monitor and/or resolve commercial delinquencies and certain default loans deemed to be non-performing, while providing timely updates to Senior Management as warranted
• Ensure timely preparation of various reports required by Senior Management, the Board of Directors and external regulators (such as quarterly Problem Loan reports, monthly classified and watchlist reports, monthly arrears monitoring reports, provisioning reports, loan monitoring reporting etc.) including ad hoc reporting or analysis as required by Management
• Actively work with Senior Management to continuously strive for operational efficiency and implement improvement measures to ensure departmental requirements are met on a timely and effective manner
• Participate and/or launch ad hoc projects, establishing new policies and procedures and/or other related initiatives to deliver superior service to all stakeholders

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: Senior