Commercial Funding Officer

Join Equitable Bank: Drive Commercial Funding Excellence

Equitable Bank, Canada's Challenger Bank™, is redefining Canadian banking with innovative solutions and a commitment to enriching people's lives. With over 50 years of history and a growing digital presence recognized by Forbes, we serve over 800,000 customers. Join our talented team of challengers who are passionate about redefining the future of banking.

The Role: Commercial Funding Officer

As a Commercial Funding Officer within our dynamic Commercial team, you will be responsible for funding BES and CFG partner and direct loans, and CMHC-insured commercial transactions. This includes analyzing corporate structures, reviewing legal documentation across different provinces, and ensuring strict adherence to legislative guidelines and Bank policies. A strong understanding of AML guidelines is essential for this role, which operates in a fast-paced environment requiring effective time management.

Your Core Responsibilities

• Loan Review & Compliance (50%): Conduct daily legal and AML reviews under minimal supervision, including Commitment Letters and CMHC Certificates. Instruct Lawyers/Notaries or Partners, follow up on outstanding documents, and review legal documents for accuracy and enforceability. Analyze corporate structures and ensure compliance from an enforcement and AML perspective. Identify AML issues and prepare memos for Compliance or SVP, Commercial Lending. Review property insurance, title insurance, and tax certificates, recommending waivers as needed. Manage personal pipeline to meet deadlines.
• Collaboration & Communication (15%): Work closely with the Credit team to advise on document deficiencies that could impact funding and credit approval. Collaborate with partners to maintain exceptional customer service. Manage pipeline on the Daily Funding Agenda by providing timely and complete loan information and status.
• System Management & Closing (15%): Review loan setups on the Bank’s systems for accuracy. Advise Credit or Funding Management of inconsistencies. Update systems with new documentation. Close loans in the system upon approval, obtain authorized signatures on wires, and complete all post-funding steps and final checklist for file compliance.
• Reporting & Support (10%): Assist Funding Management with pipeline monitoring, reporting, and testing for projects and training.
• Team Support (5%): Assist other funders during peak volumes or absences.
• Stakeholder Liaison (5%): Work with Accounting and Quality Assurance to ensure timely wire approvals. Prepare internal memos for GICs, holdbacks, and advise Accounting of interest rate buy-downs.

What We're Looking For

• Minimum of 2 years of commercial mortgage funding experience within a regulated Canadian financial institution or law office. Mortgage lending and AML compliance experience are assets.
• Post-secondary education (diploma/degree) preferably in Legal or AML Compliance, with complementary courses in Contract Law, Business Law, and/or AML.
• Good working knowledge and understanding of PCMLTFA Act and Regulations.
• Proven ability to recognize process improvement opportunities and provide recommendations.
• Good working knowledge of MS Office (Word, Excel, PowerPoint).
• A team player willing to take on new funding challenges.
• Strong analytical skills and critical thinking abilities.
• Established organizational skills and ability to handle multiple competing priorities.
• Exceptional time management skills.
• Highly developed verbal and written communication skills.
• Bilingualism is preferred.

Job Complexities

This position requires a self-starter capable of making sound decisions efficiently. Commercial mortgage loans are complex, demanding in-depth review of legal and corporate documentation. Accuracy in preparing wires is paramount. The role involves reviewing legal documents that may deviate from standard templates with minimal oversight, and recognizing when further review from other stakeholders is necessary.

What We Offer

• Competitive discretionary bonus.
• Market-leading RRSP match program.
• Comprehensive benefits: Medical, dental, vision, life, and disability insurance.
• Employee Share Purchase Plan.
• Maternity/Parental top-up program.
• Generous vacation policy and personal days.
• Virtual events for team connection.
• Professional development and comprehensive Career Development program.
• A fulfilling opportunity to contribute to a leading FinTech company and help create a new kind of banking experience.

This role operates on a hybrid model, with in-office time spent at our Toronto office. Equitable Bank is committed to inclusion and provides barrier-free recruitment processes. Accommodations are available upon request.