Residential Funding Support - Summer Intern

Join a Challenger

Being a traditional bank just isn’t our thing, so we challenge ourselves to get creative in providing innovative banking solutions for Canadians.

How do we get there? With a talented team of inquisitive and agile challengers that break through the status quo. So, if you’re passionate about redefining the future of banking—while having fun—this could be your next big opportunity.

Our company continues to grow, and today we serve more than 800,000 customers 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 six million members. Together we have over $142 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.

The Work

The Residential Funding Support role ensures the seamless completion of the mortgage closing process by providing accurate and comprehensive data and documentation to the closing service provider. This enables solicitors/agents to initiate the property purchase or mortgage refinance closing process. Following the disbursement of funds, the incumbent will perform various administrative functions and finalize the setup of the loan within the mortgage system.

The Core Responsibilities!:
• Collaborate with Partners: Work closely with Equitable Bank’s closing service provider to provide all necessary data and documentation required for solicitors/agents to initiate the closing process for property purchases or mortgage refinances.

• Data Management: Update systems and portals as necessary to tailor borrower data based on loan product and type.

• Effective Communication: Liaise with the Residential Credit Team to identify and resolve inconsistent information affecting the instruction process. Assign tasks for resolution, monitor progress, and verify corrections to ensure quality outcomes.

• Insurance Documentation: Prepare insurance documents with precision, ensuring borrower information is accurate and comprehensive.

• Compliance Assurance: Verify that legal representatives meet all Equitable Bank integrity and compliance standards.

• Portal Monitoring: Oversee the EQB closing service provider’s portal to ensure that funds have been appropriately disbursed by lawyers to designated parties.

• Issue Resolution: Collaborate with solicitors and the closing service provider to identify and resolve any deficiencies or discrepancies.

• Final Report Review: Analyze final reports submitted by solicitors to ensure Equitable Bank’s mortgage registration complies with the terms and requirements outlined in the commitment.

• Loan Status Updates: Accurately update loan statuses to reflect the receipt and review of final reports.

• Follow-Up and Escalation: Proactively follow up with solicitors regarding outstanding final reports. Escalate unresolved cases to management for further action.

Let's Talk About You!:
• Currently enrolled in University or College program (Finance, Business, Accounting or Economics is preferred)

• Demonstrated ability using MS Office (Excel, PowerPoint, and Word)

• Strong organizational skills and demonstrated ability to work under pressure and adhere to tight deadlines

• Strong attention to detail

• Strong analytical skills

• Excellent oral and written communication skills with the ability to respond in a clear, concise and professional manner

• Ability to handle multiple competing priorities

• Ability to work in a fast-paced environment

How to Correctly Submit Your Application!:
• All applications must be submitted through our company website: https://jobs.lever.co/eqbank.

• Please note that you must be an active student going back to school. Applications from students who have already graduated will not be accepted unless you need to do a co-op placement in order to graduate.

• Please scan together and submit ONE DOCUMENT that includes your transcripts, resume and cover letter. Please note that if the application is not completed properly, it will not be accepted.

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 and personal days
🖥 Virtual events to connect with your fellow colleagues
🎓 Professional development and comprehensive Career Development program
💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

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!