Company Overview
IC Savings is a credit union that focuses on bringing the benefits of co-operative banking to more than 17,000 personal and business members, whether online, by mobile or in branch at its eight locations in the Greater Toronto Area. To learn more, visit www.icsavings.ca.
Job Overview
The Senior Underwriter actively promotes IC Savings’ full range of lending solutions, with emphasis on mortgages. The role is responsible for a senior lending approach to determining the credit worthiness of members (customers) based on established lending criteria. This includes managing broker relationships, originating new business, underwriting, and recommending lending applications for approval in an environment focused on operational and service excellence.
Major Duties & Responsibilities
Job responsibilities include, but are not limited to:
Business Development:
- Develop and strengthen internal and external relationships in a sales culture environment through networking/marketing with brokers, members, lawyers and represent IC Savings at various industry related functions.
- Ensure regular contact with Mortgage Brokers. This may include visits and presentations at the Mortgage Brokers’ offices.
- Actively promote sales of existing lending products, up-sell and cross-sell IC Savings’ full range of lending solutions with a focus on residential mortgages.
- Introduce and train broker community on new mortgage offerings.
- Actively participate in all IC Savings campaigns.
- Maintain both a high personal profile and the reputation of IC Savings as the financial institution of choice amongst the Mortgage Broker community.
- Maintain sufficient sales call volumes to the Mortgage Brokers and Mortgage Agents to sustain assigned Target volumes.
- Work with reporting manager on marketing and business development initiatives.
Credit Review, Analysis and Recommendation:
- Successfully contribute to the Residential Lending results, ensuring growth and profitability targets are being met.
- Evaluate, assess, and recommend complex residential mortgage and loan applications to Management by assessing customer's credit history, collateral and income or ability to pay within IC Savings established guidelines, policies and procedures.
- Evaluate credit risk in compliance with internal and external regulatory guidelines, apply a prudent lending approach to underwriting, ensure suitability of lending products to borrowers'/members' circumstances.
- Negotiate, structure, and evaluate received mortgage applications according to internal policies.
- Responsible for the review of complex deals and higher risk credit analysis.
- Issue mortgage commitments with appropriate conditions.
- Ensure accurate record keeping and records retention to meet Company and regulatory standards.
- Identify, embrace and implement continuous improvement opportunities.
- Follow AML procedures on all files with an emphasis on “Know Your Member” rules.
- Adhere to compliance and operational risk controls in accordance with company’s policies and procedures.
- Manage portfolio risk by exercising consistent, objective and sound credit decisions, escalating with quality rationale to support recommendation where appropriate.
- Maintain minimum funded volumes as assigned.
- Effectively interact with Solicitors and Funding staff to ensure proper workflow and funding procedures.
- When required, interview loan and mortgage applicants, assist in the proper completion of credit applications, analyze financial information, assess credit, and make recommendations for approvals/declines.
- If Credit Limits have been issued, adhere to the approved Letter of Authority.
- Underwrite and maintain loan and mortgage applications submitted from retail branches and refinancing applications referred by the Retention team.
Leadership:
- Lead by example to reflect company values, integrity, accountability, and respect for others.
- Act with honesty, take responsibility, and treat everyone with dignity.
- Inspire and motivate a positive work environment that encourages collaboration.
- Maintain up-to-date knowledge of the competition, industry trends and market conditions.
- Serve as a mentor and embrace a culture of continuous on-the-job knowledge, sharing, learning and professional development.
Perform other duties as assigned.
Who Are We Looking For?
The successful candidate is someone who is experienced, passionate about the lending industry, has existing broker relationships and the ability to achieve assigned target volumes. Additionally, the candidate meets the following qualifications:
- 10+ years of retail credit adjudicating experience in the banking industry, with at least 5+ years of residential mortgage underwriting experience in the alternative mortgage lending space.
- Completion of post-secondary education in combination with relevant mortgage underwriting experience and job-related courses/education.
- Self-starter, self-motivated, creative and entrepreneurial with solid interpersonal & communication skills and an ability to work within a team environment.
- Strong English written & oral communication skills; excellent phone etiquette; proficiency in other languages an asset.
- Strong working knowledge of MS Word, Excel, Outlook.
- High degree of numerical competency.
- Strong focus on customer service excellence, organization, attention to detail and sense of urgency; ability to prioritize and meet deadlines.
- Valid driver’s license with good driving record and access to a reliable vehicle on a regular basis.
Working Conditions/Physical Effort
- Professional, team oriented, office environment.
- Core business hours based on 37.5-hour work week; Monday to Friday from 9:00 am 5:00 pm; ability to work extended hours, if required.
- The physical demands are representative of those that must be met by being able to successfully perform the essential functions of the job; these include, but are not limited to sitting, considerable use of computer and phone, seldom moving items up to 25 pounds in weight, driving.
- Ability to visit various mortgage broker offices and attend job related trade shows and events across the GTA.
Compensation Range
The final compensation offered will be determined based on the successful candidate’s skills, experience, education, and other relevant qualifications.
Vacancy Type
This position is for the open vacancy.
AI Disclosure
Due to large number of applications received, AI is used in assisting with screening and selecting applicants.
How to Apply
If you think you have what it takes to be a successful member of our team, please forward your resume to [email protected].
At IC Savings, we are committed to accommodating people with disabilities as part of our hiring process. If you have special requirements, please advise us during the recruitment process. All submissions are confidential.
We thank you in advance for taking the time to review our posting. If you have been selected for an interview, we will be in touch.
Job Types: Full-time, Permanent
Pay: $70,000.00-$105,000.00 per year
Benefits:
- Company events
- Dental care
- Disability insurance
- Discounted or free food
- Employee assistance program
- Extended health care
- Life insurance
- Mileage reimbursement
- On-site gym
- Paid time off
- RRSP match
- Store discount
- Vision care
Ability to commute/relocate:
- Etobicoke, ON M9B 1B2: reliably commute or plan to relocate before starting work (required)
Application question(s):
- What are your compensation expectations?
Experience:
- retail credit adjudicating: 10 years (required)
- retail credit adjudicating in alternative lending space: 5 years (required)
Licence/Certification:
- Driving License and access to reliable vehicle (required)
Work Location: In person
