Senior Manager, Operational Effectiveness

Senior Manager, Operational Effectiveness

Friday, January 17, 2025

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.

OUR VALUES, OUR PASSION

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners, and each other.

• Courage to Act. Do the Right Thing
• One Team. One Vision
• Think Long-Term. Ever-Evolving

POSITION SUMMARY

The Senior Manager, Operational Effectiveness is responsible for enhancing the efficiency (cost focus) and effectiveness (risk focus) of the Adjudication & Mortgage Funding, Mortgage Servicing, and Default Management operation functions, with adherence to the Risk Appetite of the Bank and alignment with the Bank’s strategic goals.

This role includes oversight of the deal support function for sales inquiries related to the status of mortgage adjudication and funding, managing the quality assurance team for the first line of operational defense, and implementing lean methodology to drive continuous improvement and enable a best-in-class customer and employee experience. In addition, the role will include a focus on policy enhancements, through stakeholder feedback, to gain adjudication & funding efficiencies.

The position will play an integral role in supporting the Director of Operational Effectiveness & Strategy in Training & Development programs and delivery of sustainable change through Knowledge Management (Resource Documentation & Policy & Process Centre). Be an active participant in the Bank’s Automation & Digitization strategy, supporting operational innovation.

The role is a key partner to the Operational functions, the Customer Experience Strategy & Design team, Sales, and Risk related teams. The role will support cross-functional squads to optimize processes and be responsible for execution of key operational initiatives for the respective operation functions.

To achieve operational excellence, the position requires a deep understanding of credit underwriting, mortgage subject matter expertise, operations and risk management, and regulatory compliance to effectively execute.

The role fosters a collaborative relationship with the Bank’s other departments within Operations, Customer Strategy & Design, Sales and Marketing, Risk, Technology, and Project Management. The role must lead by example and ensure healthy, effective relationships within the Bank with an overarching focus on maximizing Customer and Employee experience.

MAJOR ELEMENTS OF THE ROLE

Key accountabilities of this position include:

• Solid understanding of key processes and policies from Adjudication through to Default Management to improve operational processes and enhance overall efficiency. Lead and/or support execution of key operational initiatives; ensure timely and effective implementation.
• Strong collaboration with cross-functional teams to streamline operations and improve service delivery. Leverage Front to Bank Methodology to integrate front-end customer interactions with back-end processes to improve Customer Experience to best in class.
• Implement lean methodology to drive continuous process improvement across all operational functions. Identify and eliminate waste, streamline processes and enhance overall efficiency. Train and mentor team members on lean principles and practices.
• Create and manage operating model to provide credit and funding related deal support for sale inquiries, offering status updates. Support operational teams with process/systems for effective queue management.
• Lead the Quality Assurance team responsible for the first line of operational defense. Establish and maintain quality standards, ensuring adherence to policies and procedures. Conduct regular audits and reviews to identify areas for improvement and implement corrective actions.
• Foster a culture of continuous improvement, collaboration, inclusiveness and accountability. Develop and mentor team members, promoting professional growth and development.
• Strong stakeholder engagement to gather insights and feedback on operational processes; and effective communication strategy to communicate progress and outcomes of initiatives.

SKILLS AND EXPERIENCE REQUIRED

Qualifications & Attributes:

• Bachelor’s degree in business administration, Finance, Operations Management, or a related field.
• Minimum of 7-10 years of experience in mortgage operations, with a focus on adjudication, funding, and servicing.
• Proven experience in implementing lean methodology and driving continuous improvement initiatives.
• Strong leadership and team management skills.
• Excellent analytical, problem-solving, and decision-making skills with the ability to work in a fast-paced environment.
• Exceptional communication and interpersonal skills.
• Experience with Automation & Digitization in Banking or related educational equivalent is an asset.
• Past Branch Banking and or direct Customer experience is an asset.
• Key competencies include operational excellence, risk management, quality assurance, lean methodology, strategic thinking, and customer focus.
• Hybrid working environment.

WHY WORK AT HOMEEQUITY BANK?

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture – With People at the Centre

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including Greater Toronto’s Top Employers 2024, Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row, and Achievers Top 50 Most Engaged Workplaces 2023.

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally through a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favorite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness

HomeEquity Bank is committed to an inclusive, equitable, and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.

• 200 Bay St., Toronto, ON M5J 2J1, Canada