Underwriter Team Lead - Broker Channel

WHO WE ARE                                            

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.  
  

Our Values, Our Passion

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.  

Customer-Focused. Passionate Advocates 

Courage to Act. Do the Right Thing 

One Team. One Vision 

Think Long-Term. Ever-Evolving 

Be Exceptional. Inspire Greatness

POSITION SUMMARY:
 

Reporting to the Senior Manager, Credit, the Team Lead, Credit, is responsible for ensuring the Credit department underwrites each mortgage application assessing the collateral and the client’s credit worthiness, following Bank’s policies and guidelines. The Team Lead reviews and approves mortgage applications and escalations within their delegated lending authority. The Team Lead trains and coaches Underwriters and provides inputs to the Senior Manager regarding Underwriter performance management. The role is required to maintain a collaborative relationship with the Bank’s other departments and must lead by example and ensure that healthy, effective relationships are fostered.
 

The position plays an important role within the Bank because it requires a deep understanding of credit underwriting, appraisals management, mortgage terms, risk management, internal controls and regulatory compliance.
 

MAJOR ELEMENTS OF THE ROLE:

• Review and approval of mortgage applications and escalations
• People – supports the Senior Manager by providing high quality input to performance assessments
• Developing, coaching, mentoring and leading a high performing team of Underwriters
• Stakeholder management, escalations, relationship building
• Policy and procedure implementation and management, ongoing adherence/review
• Control and quality testing/audits
• Lead projects and key priorities on behalf of the Credit department
• Specific elements of the role include but are not limited to:

Leadership:

• Collaborate with the co-Team Lead, Credit, to develop, coach, mentor, and lead the team of Underwriters
• Establish objectives with team members, provide input on performance reviews and provide feedback to the Senior Manager on performance relative to the objectives established through goal setting

Business Performance:

• Ensure that all submitted mortgage applications are underwritten in a timely manner, within expected quality standards and within the Bank’s credit policies and guidelines
• Make prompt and thorough reviews and decisions on mortgage files and escalations
• Balance risk and opportunity by looking for solutions on mortgage structures while ensuring adherence to Bank’s policies and guidelines
• Be a critical contributor to the Bank’s operational efficiencies by identifying and proposing effective solutions to maximize process efficiencies
• Play a lead role in reviewing quality metrics, performance, SLA’s and overall controls
• Develop and maintain comprehensive procedures
• Implement solutions on a timely basis to address any identified control gaps or opportunities
• Act as subject matter expert on cross-functional projects as assigned
• Maintains professionalism in all dealings with internal and external parties to maintain the reputation of the Bank

Reporting:

• Provides regular and ad-hoc reporting to Management with qualitative commentary and insights
• Measure processing and capacity efficiencies, looking for opportunities to improve quality and turnaround times

Appraisals:

• Review and coordinate appraisal escalations and issues with appraisal management company and internal partners  
• Review and resolve exceptions
• Orders and reviews ad-hoc re-appraisals as required
• Reports on variations in valuations to management and other stakeholders

SKILLS AND EXPERIENCE REQUIRED:

• Post-secondary education and/or equivalent experience
• Experience at a Canadian financial institution
• Experience in Credit/Mortgage Underwriting
• Leading high-performing teams
• Experience with policy management, audits and OSFI reviews
• Preparing and providing analysis and presentations for senior management

ATTRIBUTES:

• Collaborative leadership style with the ability to take initiative
• Establish healthy relationships and ongoing effective communication
• Ability to work independently and know when to make decisions and when to seek input from others
• Exceptional attention to detail
• Ability to manage and resolve conflict

Working Conditions Unique to Job

• Hybrid home/office environment

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
 

A Dynamic Culture – With People at the Centre  

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023. 
 

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.  
 

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness 

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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