Job Description
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 780,000 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 $138 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 Associate Director, Special Accounts Management Unit, primarily has accountability for the strategic management, resolution, and recovery of complex commercial default files and high-risk commercial loans. This includes large-balance and complex credit exposures (including conventional and construction facilities), managed in accordance with the Bank’s underwriting standards, risk appetite, and internal policies and procedures.
Acting with a high degree of professional judgment and autonomy, the incumbent leads the development and execution of customized workout and recovery strategies, enforces contractual and security rights as appropriate, and proactively mitigates loss exposure while seeking commercially pragmatic outcomes. The role requires balancing legal, financial, reputational, and relationship considerations, with a strong focus on loss mitigation.
The Associate Director serves as a trusted subject-matter expert and key point of contact for internal and external stakeholders, including Senior Management, legal counsel, real estate professionals, and other business partners. The incumbent represents the Bank in the professional community and ensures complex transactions and resolutions are advanced efficiently, transparently, and in alignment with the Bank’s strategic objectives. This role will also serve to support training and development for others in the Special Accounts Management Unit group. The incumbent will assist with completing site inspections as required for portfolio management purposes and/or default loans.
Additionally, the role will support contributing to portfolio oversight, credit risk analysis, management reporting, regulatory deliverables, and special initiatives, while exercising influence without direct authority.
The core parts of your role would be to:
- Portfolio & Default Management
- Independently manage and resolve a portfolio of complex, high-value delinquent and non-performing commercial mortgage loans, applying advanced credit judgment and risk assessment to protect the Bank’s interests.
- Lead full financial, credit, and collateral reviews on defaulted and problem accounts, identifying key risk drivers and recommending and executing tailored workout, restructuring, or enforcement strategies.
- Determine, recommend, and oversee legal action for non-payment events (including past maturities, tax arrears, insurance lapses, bankruptcies, liens, and covenant breaches), ensuring enforcement actions are commercially sound, timely, and compliant with internal policies.
- Actively manage legal action files, coordinating with external counsel and internal partners, and enforcing remedies and conditions as warranted.
Underwriting, Risk & Credit Oversight
- Perform and/or critically review all aspects of underwriting for defaulted and problem loans, including collateral valuation, market analysis, and borrower capacity assessment.
- Ensure heightened risk elements are appropriately identified, documented, mitigated, and escalated, as applicable.
- Maintain accurate and timely risk ratings for default and watchlist loans, ensuring alignment with internal credit standards and reporting requirements.
Stakeholder Management & Negotiation
- Serve as the primary relationship lead on assigned files, liaising with internal stakeholders (Credit, Mortgage Services, Risk, Finance, Legal) and external parties to negotiate and execute successful resolutions.
- Lead complex negotiations with borrowers, guarantors, and third parties, balancing firmness in enforcement with pragmatic restructuring where appropriate.
- Provide clear, concise, and well-reasoned recommendations and updates to Senior Management and other stakeholders.
Reporting, Governance & Regulatory Support
- Ensure the timely preparation, accuracy, and integrity of management, Board, and regulatory reporting, including:
o Quarterly Problem Loan Reports
o Monthly classified and watchlist reporting
o Arrears and non-performing loan monitoring
o Provisioning and ad hoc risk analysis
- Respond to ad hoc requests from Senior Management with high-quality analysis and clear recommendations.
Property Oversight & Site Reviews
- Conduct site inspections as required to support portfolio management, default resolution, and recovery strategies.
- Where applicable, provide direct oversight and monitoring of properties held by the Bank for recovery purposes, coordinating with third-party service providers.
Strategic & Operational Contribution
- Actively contribute to the continuous improvement of Special Loans and Restructuring operations by identifying inefficiencies, proposing enhancements, and supporting the implementation of improved processes, policies, and controls.
- Lead special projects and initiatives, including process redesign, and system or reporting enhancements.
- Serve as a knowledge resource and informal mentor within the team, sharing best practices and technical expertise.
Let’s Talk About You!
- Have a minimum of 5-7 years of commercial mortgage lending, credit risk, or restructuring, with demonstrated experience managing defaulted or high-risk commercial loans
- Business degree or a related discipline, and/or a CPA or similar professional designation or equivalent work experience.
- Strong working knowledge of mortgage enforcement remedies and foreclosure processes across Canada.
- Advanced credit analysis, financial modeling, and problem-solving skills, with the ability to assess complex and incomplete information.
- Deep technical understanding of secured lending, commercial real estate markets, and end-to-end credit processes.
- Highly developed organizational and time-management skills, with the ability to manage competing priorities under tight timelines.
- Demonstrated ability to operate effectively in a fast-paced, high-intensity, and evolving environment.
- Proven self-starter with the ability to work independently while exercising sound judgment and accountability.
- Strong negotiation, influencing, and communication skills (written and verbal), with the confidence to engage senior-level audiences.
- 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.
Job Complexities/Thinking Challenges
The position requires the incumbent to demonstrate the ability to make sound decisions/recommendations efficiently with often limited information available in a timely manner. The incumbent shall possess strong cognitive and professional judgement upon which they can rely in the ongoing management of their portfolio. The incumbent is required to follow corporate policies, procedures and regulatory requirements to work through files and rationalize the recommendations or decisions made.
The position demands strategic thinking, market awareness, and resilience, as well as the ability to manage multiple unique and high-stakes files concurrently. Success in the role depends on the incumbent’s ability to synthesize information quickly, develop sound recommendations, and drive timely resolution of problem loans.
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 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
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 2200-25 Ontario Street, 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!
