Director/Senior Manager, Capital Markets
Canada's Challenger Bank™If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.
Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $31 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 employees across the country.
Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.
Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.
Job Title: Director/ Senior Manager, Capital Markets
Department: Capital Markets
Reports To: VP, Capital Markets
Purpose of Job
The Capital Markets department is responsible for evaluation, execution and ongoing maintenance of mortgage securitization and secured funding transactions. The department also provides analytical and valuation support to other business units within the Bank. The department works closely with other teams across the Bank, including Treasury, Finance and Accounting, and Single Family.
Reporting to the VP, Capital Markets, the incumbent will be responsible for managing the existing mortgage funding programs, including new issuance and maintenance of a $15+ billion book of outstanding transactions. The incumbent will supervise one Senior Analyst. Operational/back office support will be provided by a separate securitization finance team, which will work closely with but not report to this position.
- Lead execution of new issuances out of the Bank’s existing mortgage funding programs (NHA MBS, CMB, ABCP, secured credit lines).
- Lead ongoing maintenance of the existing transactions: update and review financial models, reports, valuations, manage CMB replacement asset sales, review and approve transaction settlements.
- Execute purchases of mortgages from 3rd party originators, including compliance reviews, pricing and hedging.
- Manage the mortgage hedging program.
- Manage mortgage portfolio insurance submissions.
- Develop and maintain all required process and compliance documentation.
- Assist with development and implementation of new funding programs.
- Lead process improvement efforts within the department.
- Provide ad-hoc support to VP, Capital Markets and to other teams within the Bank as required.
- Manage, motivate and support professional growth of own direct reports.
- Post-secondary degree in business, commerce, engineering, or a related field.
- 7+ years of experience in the Canadian financial services industry, with demonstrated career progression.
- Knowledge of the Canadian mortgage landscape, and of the related regulatory framework.
- Extensive experience with NHA MBS and CMB securitization programs. Experience in each of back, mid and front office roles would be a significant advantage.
- Sound knowledge of key financial concepts (yield curve, duration, fixed income valuation, etc.), and mortgages (amortization, pre-payment risk, etc.). CFA designation would be an asset, but not required.
- At least a basic understanding of accounting it relates to fixed income, hedging, and mortgage funding.
- At least some experience interpreting legal documentation, particularly in the context of securitization and derivative transactions.
- Strong attention to details.
- Excellent analytical and critical thinking skills.
- Proven ability to function independently, and proactive in using internal and external resources to achieve results.
- Resourceful, and able to think outside the box.
- A high level of maturity, with the ability to confidently interact with internal and external senior decision makers.
- Advanced Excel skills, proficient with the rest of Microsoft Office.
- Knowledge of VBA and/or SQL would be ideal, but not required.
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process. 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.
- Pay Type Salary
- Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada