Senior Credit Underwriting Analyst presso EQ Bank | Equitable Bank

The Core Responsibilities!

• The primary focus of this position is to perform the residential portfolio underwriting process from third party origination channels. Specific responsibilities include, but is not limited to, the following:


Recommending\Approving the purchase\Renewals of Single-Family Residential Mortgages originated from third party partnerships and Concentra’s Legacy direct lending business:
• Review and analyze Alt-A residential mortgage loans credit file documentation (credit reports, income/employment documentation and funding documents, etc.) to assess application in accordance with Residential Mortgage Underwriting Guideline and other relevant policy/guideline and procedures.
• The Underwriter must cross-reference the originator’s underwriting to both the RMMG – Third Party, as well as EQB’s internal Corporate Underwriting guidelines to ensure consistency.
• The Underwriter makes credit recommendations/approvals on individual mortgage deals reviewed in line with current delegated authority limits.
• Review mortgage data accuracy/integrity to ensure the information is consistently captured and documented in accordance with internal standards.
• Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings.


Builds and maintains relationships with both internal and external stakeholders:
• Prioritizes applications and workflow to ensure consistent and sound risk assessments are maintained while managing high volumes and a continued focus on service excellence
• Establishes and maintains positive relationships with mortgage originators to build loyalty to the Bank
• Provide excellent customer service to other departments and third-party originators through professional written and verbal communication.
• On a daily basis provide the highest level of internal and external customer service while fielding originator inquiries.
• Directly responsible for updating third party originators of all interest rate changes/updates.
• Designs, implements, and prepares reports, papers, plans, dashboards and templates for clients, senior management and multiple internal committees
• Responsible for key metric reporting to Managing Director, Consumer Markets – includes non-conforming loans, exceptions, standard approval/declines and pre-approvals.
• Working closely with internal departments to provide feedback and support recommendations to continually improve the effectiveness and efficiencies on internal processes
• Works closely with internal departments to identify areas of opportunity/gaps in procedural guidelines and makes recommendations for effective changes.
• Develops, implements, documents and evaluates processes and procedures across credit portfolios with internal teams
• Stays current with latest industry knowledge, competition, and market trends


Helps support and maintain a robust fraud and compliance environment as an active and engaged member of the Banks first line of defense.
• Ensure that a UAR (Unusual Activity Report) is submitted on loans suspected of containing fraud and perform risk assessments on a broader scale, when identified.
• Assist in the identification of new and evolving fraud trends or systematic issues and patterns.
• Timely escalation/reporting of any evidence of fraud identified through detailed review which may impact other areas of the business.
• Assists with portfolio risk management practices and reporting, ensuring compliance with lending policies and procedures
• Ensures disciplined execution of applicable corporate credit policies, strategies and market best practices
• Assesses third party originator performance and accuracy by reviewing loan decisions for residential mortgages
• Provides input and support to the support internal\external audits and annual servicer reviews
• Monitors action plans for fraudulent/watch list accounts in adherence to internal

Let's Talk About You!

• University degree or equivalent - preferably in finance, business, or a related field
• A minimum of three to five years in a related role pertaining to residential mortgage origination (underwriting and operational).
• Sound knowledge and understanding of Alt-A products, Prime and Reverse mortgages, operations, processes, services, systems and associated risks and controls.
• Demonstrated ability to review residential mortgage documentation, audit, perform analyses, validate, and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
• Extensive knowledge of underwriting best practices and apply them to their day-to-day work.
• In depth understanding of Residential Mortgages underwriting processes and requirements.
• Sound understanding of Mortgage related regulatory requirements (OSFII B20, AML/ATF), and Mortgage Insurer requirements (CMHC, Genworth)
• PC skills including Microsoft Outlook, Word, Excel, Power Point, related applications, and other software applications used within the organization.
• Excellent organizational skills and ability to complete responsibilities in a busy and time sensitive environment.
• Strong analytical skills.
• Strong verbal and written communication skills.
• Attention to detail and an ability to identify potential problems within files.
• Self-motivated.
• Strong interpersonal skills.
• Work effectively in a team setting to accomplish goals and complete tasks.
• Ability to make decisions under pressure.
• Excellent time management, analytical and problem-solving skills.
• Displays pride in providing superb customer service.