Director, Credit Risk Management

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 370,000 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 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform ( eqbank.ca ) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.
The Work
The Director, Credit Risk Management reports to the Senior Director, Credit Risk Management and supports Senior Management with respect to all aspects of credit risk management in the Bank. The Director will be responsible for assisting in the development and operationalization of credit risk strategies and will oversee all loan portfolios with the objective of maintaining high quality
lending and risk mitigation strategies.
Key aspects of the role are credit adjudication, governance, strategic initiatives, and managing key internal relationships enterprise-wide to champion risk and credit culture at the Bank.
The Core Part Of The Role Would Be

• Liaise and maintain strong relationships with the credit functions across the business lines to ensure that credit policies are adhered to in the organization
• Credit Risk Governance
• New Products and Initiatives
• Support the VP & CCO and Quality Assurance leaders in ongoing and continuous improvement initiatives to generate operational efficiencies
• Support the Risk team by identifying elements and/or issues during product development that require ERM or Compliance oversight
• Monitor exception frameworks in the business lines and escalate relevant trends and insights
• Credit Adjudication
• Ensure proposed products are in alignment with the bank’s credit risk appetite as articulated in credit policies and procedures and that satisfactory risk mitigation strategies have been discussed and documented
• Monitor the loan portfolios for relevant trends, insights and provide ad-hoc credit risk reports to members of senior management and to support quarterly board reporting
• Provide independent and effective challenge to credit policy and credit procedure changes, amendments, and work collaboratively on new developments as proposed by the Business Lines
• Approve Commercial loan extensions, renewals, and annual reviews in accordance with Delegated Lending Authorities
• Support the development of responses to recommendations/requests from OSFI and Internal Audit
• Recommend for approval and escalate transactions and exceptions above the Director’s lending authorities as necessary to the Senior Director Credit Risk Management, the VP & Chief Credit Officer or the SVP & Chief Risk Officer.
• Support with credit risk input to the development and ongoing maintenance of the Advanced Internal Ratings Based Risk Rating systems

Lets Talk About You!

• Post-secondary education (diploma/degree), preferably in business or finance with an MBA or accounting designation
• Strong analytical and problem-solving skills
• Proven ability to inspire a team to work toward a set of goals and objectives
• Ability to handle multiple competing priorities is a must
• Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
• Have a minimum of 8 years of lending experience with expertise in a combination of commercial banking, retail lending including Single Family mortgages, construction and commercial mortgages, and portfolio management experience
• Highly developed verbal and written communication skills with the ability to communicate to Senior Management, the Board of Directors in a clear, concise and professional manner
• Demonstrated leadership skills and strategic thinking
• Deep understanding of real estate/commercial/asset-based underwriting and valuation techniques, determination and capitalization of NOI (Net operating Income)], financial statement analysis, secured lending and factors affecting the mortgage market
• Strong organizational and time management skills

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, personal days and even a moving day
🖥 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
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.
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!