Senior Analyst, Commercial Quality Assurance

Join a Challenger

Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing!) family. Overall we serve more than 670,000 people 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 $125 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 Quality Assurance Analyst [“QA”] is responsible for performing reviews and assessments of activities performed by individuals within the Bank's “1st line” Operations.

The Senior Analyst, QA is responsible for assisting the Manager in the development and maintenance of the Quality Assurance Framework [“QAF”] for the Commercial Business and executes the necessary activities within the QAF and will be required to discuss and report on findings to the relevant stakeholders. The QA team’s objective is to ensure that the process is in line with current policy and procedures, is operating effectively and is coordinated with any department that is directly affected by the reported observations.

The Senior QA Analyst is responsible for the focused review of Brokers and Employers within the EQB database to detect mortgage fraud and aid in fraud prevention measures, as outlined in the SFR Mortgage Fraud Corporate Procedures.

This position requires an ability to analyze each document separately, but also to be able to relate it to the deal as a whole on both Commercial and Single-Family Residential mortgages. The Senior QA Analyst will develop sound knowledge of what checks are required for each document in the file and how to identify and report each observation.

Additional responsibilities include the execution of funding cheques and renewal post-funding cheques to include providing assistance to departmental staff members regarding QA requirements.

• Review and analyze mortgage applications, corporate documentation, credit reports, income/employment documentation and funding documentation to determine accuracy and completeness.
• Must have the ability to read and understand the Credit Risk Analysis performed by the business prior to completing a thorough review and substantiating observations.
• Sound understanding of different product-types within commercial lending and the different processes that surround each product; such as small commercial mortgages, large commercial loans and mortgages, CMHC Insured product and Third Party Serviced loans and mortgages.
• Have the ability to visualize, articulate, conceptualize or solve both complex and uncomplicated documents and/or problems by making decisions that are sensible given the available information and resources.
• Review data accuracy to ensure the information is consistently and routinely applied to the Company’s internal system.
• Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings.
• Ensure that all accounts suspected of containing fraud are accurately recorded on Sherlock and perform risk assessments on a broader scale, when identified.
• Assist in the identification of new and evolving fraud trends or systematic patterns.
• Timely escalate any evidence of fraud examined through detailed review which may impact other areas of the business.
• Perform WorldCheck1 searches for the Commercial business and provide appropriate turnaround of time-sensitive requests, monitor outstanding searches and be responsible for closing each search.
• Periodic review and signing of Single Family Residential (Renewal) post-funding cheques.
• Ensure that all required documentation including proof of results and sign-off for the issue and/or procedural change, in all review capacities, is readily available for internal and/or external audit review.
• Provide support to the front-line business for any new initiatives that may directly affect the review process or business unit objectives.
• Provide excellent customer service to other departments through professional written and verbal communication.

• A minimum of five years’ experience in a Canadian financial institution.
• A minimum of two years in a related role pertaining to quality control/quality assurance and fraud investigation.
• Understanding of mortgage/credit origination processes and controls.
• Good working knowledge of MS Office (primarily Word and Excel).
• 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.

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

Annual professional development allowance and a comprehensive Career Development program

A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

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!