Credit Risk Manager

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.

Customer-Focused. Passionate Advocates

Courage to Act. Do the Right Thing

One Team. One Vision

Think Long-Term. Ever-Evolving

Be Exceptional. Inspire Greatness

POSITION SUMMARY:

The role will support the execution of HomeEquity Credit Risk Management Program with a focus on policy and process including portfolio credit risk management and default/loss management principles. expanding the entire credit lifecycle. As a second line of defense role, it will lead an independent challenge program with respect to the end-to-end adherence to Bank policies and procedures. Will ensure regulatory compliance with regards to OSFI and other applicable regulations and guidance.

MAJOR ELEMENTS OF THE ROLE:

Support in the execution and continuous improvement of the Bank’s Credit Risk Management program.

• Contribute to the development, review, and update to the Bank’s mortgage underwriting policy (RMUP) and guidelines (RMUG)
• Assist in the design and implementation of policies, procedures and standards related to portfolio risk management and default / loss management.
• Conduct independent challenge over the Bank’s credit underwriting to ensure mortgage approvals and quality controls are aligned with the Bank’s risk appetite and OSFI B-20 principles. This extends to independent 2 nd line work with respect to challenge of default and loss management.
• Perform critical review/challenge on credit escalations/ underwriting policy exceptions to make well reasoned recommendations for management consideration and approval. Ability to review credit files to recommend alternative ways/mitigants to enable approval of files that should otherwise be declined.
• Assist in the preparation of regular credit metrics reporting, highlighting portfolio composition and performance for key internal and external audiences as may be required.
• Contribute to the development of proactive portfolio management strategies to support the Bank’s overall risk appetite .
• Provide active and direct support to resolve outstanding audit and regulatory issues and respond to ad hoc Senior Management and regulatory requests.
• Maintain open and positive dialogue with business units and leaders to provide solutions to credit files.
• Keep up-to-date with risk management best practices, risk policy, and macroeconomic factors that impact the Canadian real estate market.
• Contribute to Risk Management Department projects and initiatives, as needed.
  
  

SKILLS AND EXPERIENCE REQUIRED:

Qualifications

• Post secondary education with 7+ years of experience in retail Credit Risk Management encompassing the credit life-cycle, together with a solid knowledge of retail products, particularly mortgages.
• Strong experience in credit risk policy design and independent challenge roles including executing risk-based monitoring and testing programs.
• Strong background in designing and implementing credit risk reporting for Management and Board.
• Deep, applied knowledge of OSFI B-20, B-15 and other relevant regulatory framework/ Guidance.
• Possess broad mortgage underwriting expertise and must be able to conduct enhanced due diligence reviews on credit escalations/policy exceptions .
• Highly Proficient with MS Office applications (Word, Excel, PowerPoint).
• Hands on experience with Data Visualization and Analytics tools (Looker, Tableau, Power BI, etc.)
• Broader knowledge of the mortgage industry in Canada and industry best practices in Credit Risk.
• Excellent communication skills with ability to positively engage with business partners and external stakeholders
  
  

Attributes

• Well-developed analytical, problem solving, research, and control testing/ audit skills.
• Well-rounded experience of the retail credit life-cycle
• Effective organizational and time management skills with the ability to manage multiple and changing priorities with minimal supervision.
• Excellent verbal and written communication skills, including experience in preparing and presenting reports and presentations to various levels of management.
• Must be pro-active, self-motivated and a self-starter.
• A positive attitude, a desire to learn, and a willingness to persevere to get work done, either independently or as part of a team.
• Strong attention to detail and accuracy.
  
  

Working Conditions Unique to Job:

• Hybrid office environment
  
  

WHY WORK AT HOMEEQUITY BANK?

Great Environment

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 the 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 though 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 favourite 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.

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