Regional Channel Manager, Reverse Mortgages

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.

Purpose of Job:

The Regional Channel Manager, Reverse Mortgages (RCM) is responsible for developing and operationalizing Equitable Bank’s in-market plans for its Reverse Mortgage business. Since 2018, Equitable Bank has been on a mission to empower Canadians to retire on their own terms with the support of our “decumulation” products. The Equitable Bank Reverse Mortgage is an important part of this offering and we have big ambitions.

In addition to sales strategy and delivery, responsibilities will include developing relationships with new and existing referral partners, providing training as well as engaging with borrowers requiring support in their origination activities. Sales targets will be set by management at the beginning of each business year, and the Senior Manager will oversee all sales activity to ensure that these goals are met.

In this role, the RCM must be highly knowledgeable about Equitable Bank’s product suite and the broader retirement financing market in order to generate prospective deals and partnerships. This position requires exercising independent judgment to perform the responsibilities described herein.

The Work

• Take part in industry associations in order to establish an Equitable Bank as a trusted partner and provider of high quality financial products. As well, seek to collect valuable feedback to support in the advance of products, services and process
• Main Activities:
• There are four areas of accountabilities listed below which when performed well, will cumulatively lead to ultimate success in this position
• In a post-COVID environment, the RCM is expected to be out of the office to do proactive sales calls to generate new business and to visit existing referral sources with information about recent enhancements of products pertaining to reverse mortgages, changes to services, the delivery of prize items, the distribution of promotional or new print materials to gain valuable face to face time. To achieve visibility and to build a wider broker network, one must:
• Expected to be available after business hours to attend events and/or service key brokers – events to be attended will be upon request by the Vice President, SFR BDM or could be voluntarily requested
• Drive performance by setting targets that align with corporate objectives and the strategic plan
• In credit escalation situations, support in the effective management with respective reverse mortgage Credit Manager
• In conjunction with the SFR RBMs, discuss, on a weekly basis, with the respective Credit Managers the performance of the reverse mortgage pipeline to maximize production from key brokers as well as challenges and successes around service
• 2. Sales Activities and Achievements – 40%
• 4. Leadership – 10%
• Manage follow-up communications on deals requiring assistance. Although this function is primarily performed by the underwriting team, the RCM will assist, when asked by credit and/or the BDM during high volume times
• As a Key member of the Equitable Bank Reverse Mortgage team, establish a high standard of care and behaviour with all internal and external stakeholders
• The RCM must be a highly organized individual who is self-directed to manage and report on the status of sales and market activity via referral support, direct client outreach and industry development events. Success in achieving objectives involves various steps as outlined below:
• An integral element of sales is strong presentation skills which require clear messaging and product/credit knowledge. The RCM must be prepared with:
• Provide valuable timely feedback on team member performance
• 1. Relationship Management - 40%
• Provide active support to SFR Regional Business Managers and/or Inside Sales Business Development Managers with their key accounts in the form of product and service training
• Provide mid-level performance analysis of the region, upon request from leadership, as to increase the efficiency of the business development function and be prepared to discuss at National meetings
• O Alongside Senior Management, opine on sales objectives and the allocation of sales quotas to the various parties accountable
• Obtain market and competitor intelligence and provide tactical feedback to REM credit and other management. Seek to increase collective knowledge on EQB’s capabilities relative to expectations and competitors
• Participate in brokerage house, financial advisor, bank branch, or other events – sales presentations, lender appreciation programs, holiday and special occasion programs, which may occur outside of business hours
• Ensuring the presentation is an approved presentation from leadership and/or marketing. Ad Hoc Presentations without approval are not permitted
• O Ensure appropriate support and content is available for new referral partners
• Work in tandem with SFR sales team to identify high-potential mortgage brokers, financial advisors and other referral sources, quickly establishing Equitable Bank as a trusted partner
• Set and enforce company standards for operations and quality of service
• As a representative of the Bank, reflect its image of integrity, quality and knowledge in the industry. As an important interface with the broker, advisor or client, will work effectively with credit team to ensure superior service is being offered throughout the entire process. The RCM may be expected to be:
• O Collect, analyze, and interpret sales records to obtain useful and actionable information
• 3. Presentation Skills – 10%
• Intimate knowledge of product promotions. Ensuring that they are working with the most recent sales presentation covering topics pertaining to reverse mortgages including Equitable policies on Anti Money Laundering and Terrorist Financing and pertinent compliance requirements
• Manage the budget in order to ensure Equitable Bank is branded at key Association events nationally
• Where applicable, provide consultant-like service to support brokers and advisors in their efforts to establish themselves as reverse mortgage experts. This may include, but is not limited to, providing product training, guidance on marketing, introductions to other industry experts, and business strategy support
• Acquiring the proper collateral materials and the most up to date promotions for distribution
• Develop and implement a business plan that optimizes the distribution of the reverse mortgage product in BC, such that there is a reliable and consistent pipeline of applications

Let's Talk About You!

• 5 years of people management experience in leading sales teams to achieve set targets (would be an asset)
• Must possess a driver’s license which must be in good standing
• Highly organized individual who can multi-task
• Outstanding interpersonal and presentation skills
• Proven book of business focused on mortgage brokers
• Proficient on Microsoft Office – Word, Excel, Access and Power Point
• At least 10 years of previous sales and or underwriting experience in the mortgage industry
• Ability to work alone with minimal direction
• Deep understanding of retirement planning and the needs of seniors
• Previously demonstrated the ability to grow a business
• Completion of a post-secondary degree and a graduate degree in business preferred
• Strong written and verbal skills (Mandarin, Cantonese or Urdu are a plus)

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!