Underwriter, Immediate Financing Arrangement (Ifa)

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 Underwriter, Immediate Financing Arrangement will be primarily responsible for adjudicating/recommending/declining and approving IFA applications within established guidelines, to be (at least partially) secured by Whole Life Insurance Policies. This must be done as efficiently as possible while exercising sound lending judgment and without compromising service and profitability.
The Work

• 50% - On a daily basis, review received applications along with supporting documentation and confirm terms with the financial advisor, decline the applications, recommend the applications for approval and in some instances, approve the applications. Ensure that approved deals close as scheduled and as efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines.
• 20% - On a daily basis provide the highest level of internal and external customer service while fielding inquiries and maintaining advisor relationships.
• 10% - On a daily basis provide underwriting expertise to advisors, clients and co-workers and maintain an up to date knowledge of company policies, procedures and products. Provide guidance to more junior staff as required.
• 20% - Follow up with advisors on a daily basis on issued approval letters (or on outstanding documents) to ensure the efficient closing of files. As required, assist the team with reporting, file management and data integrity requirements.

Let's Talk About You!

• A desire and a willingness to join a growing team and evolving product
• Excellent attention to detail
• Knowledge of fraud risk in the insurance industry and the ability to address concerns relating to suspected misrepresentation is required.
• Established and meticulous organizational skills
• Demonstrated ability to coach and mentor more junior employees
• Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
• Ability to make decisions under pressure
• Deep understanding of financial statements
• Highly developed verbal and written communication skills with the ability to respond in a clear, concise and professional manner
• Bachelor’s degree
• Displays pride in providing superb customer service
• Autonomous decision making on files of greater complexity
• Sound knowledge of AML & ATF practices
• Completion of a post-secondary degree preferably in a financial field
• CFA/CPA preferred
• Proficiency in MS Office (mainly MS Word and Excel)
• 1-3 years’ previous Insurance lending/commercial underwriting experience
• Sound thinker with the ability to multi-task
• Excellent time management, analytical and problem-solving 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!