Position: Associate

Job type: Full-time

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Job Description

There When It Matters for 175 Years

This year, we are proud to celebrate our 175th anniversary. Since our founding in Quebec in 1846, we’ve been committed to improving the financial health of all of our clients. We are driven by the opportunity to help families thrive, communities grow and businesses succeed. As our roots have grown stronger than ever before, we are ready to lead the way for the next 175 years.

Laurentian Bank Financial Group (LBCFG) is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred to as Laurentian Bank Financial Group (the "Group" or the "Bank").

With more than 2,900 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its personal, business and institutional customers. With pan-Canadian activities and a presence in the U.S., the Group is an important player in numerous market segments.

This role sits within Laurentian Bank, a subsidiary of Laurentian Bank Financial Group.

We are growing our Senior Underwriting team for residential mortgage lending across Canada. This is a permanent work-from-home opportunity, with base salary and performance bonuses. This is a unique opportunity to be a senior lender for two banks in one - B2B Bank and Laurentian Bank - and Prime and Alternate mortgage products.

The Senior Mortgage Underwriter will have responsibility for the end to end mortgage adjudication process from origination to funding ensuring adherence to Laurentian Bank underwriting guidelines and operating procedures.

The Senior Residential Mortgage Underwriter Is Responsible For Growing Residential Mortgage Business From a Designated Portfolio Of Mortgage Brokers And Retail Branches, As Defined By Objectives Within a Balanced Scorecard (BSC), Including
  • Financial Objectives; mortgage and secured line of credit product acquisition, customer acquisition, cross-sell, national financial plan met/exceeded)
  • Operational Effectiveness: credit quality objectives, turn-around time, SLA adherence, compliance requirements, organized and efficient submissions of applications, etc.
  • Customer: partner experience satisfaction
Responsibilities

º Contribute to the effective processing and approval of mortgage applications submitted from origination channel partners

º Determining and obtaining all pertinent credit information such as proof of income, down payment confirmation etc., and conducting appropriate due diligence in order to meet the bank’s credit and quality standards, including anti-money laundering and anti-terrorist financing standards and maintain the bank’s desired reputation with the public and regulators;

º Accurately inputting data to computer underwriting program and determine a "pass", "fail" or "further consideration" decision for each mortgage application;

º Within a designated discretionary limit for mortgage applications which are "passed" by the system, approve, decline, or present alternatives that meet bank’s Risk tolerance for mortgage transactions and recommend to a higher level those which are qualified for further review if the incumbent considers them to be credit worthy;

º Issuing and following-up on customer mortgage commitments, outstanding conditions and fulfillment.

º Obtaining Mortgage Insurer approval for insured loans;

º Ordering and reviewing appraisals for all conventional mortgages;

º Assembling, analyzing and ensuring receipt of all relevant information and documentation prior to onward submission of the file for timely instruction to solicitors

º Verifies data and information on mortgage applications to ensure accuracy.

º Effectively communicating Bank lending policy and procedures, instilling a thorough knowledge of lending requirements, and qualifying parameters.

º Responsible for meeting all productivity measures and service levels

º Keeps up-to-date on applicable legislation, as well as on the Bank’s policies, programs, procedures and mortgage insurer policies.

º Ability to work independently in a complex environment

Qualifications

º Proven track record in residential mortgage underwriting - credit authority limits must be provided

º Bilingual preferred (French, English)

º Excellent knowledge of both prime and alternative lending solutions, draw and construction financing

º Sound knowledge and expertise of credit and underwriting practices, and lending products

º Post-secondary degree or diploma in a related field and a minimum of 3 years of lender mortgage underwriting experience within the financial services industry.

º Strong analytical skills and decision-making capabilities, including demonstrated ability to use initiative and good judgment

º Understanding of the financial services industry, its independent distribution channels, and the regulatory environment.

º Strong verbal and written communication skills

º Results-oriented

º Partner mindset

º Excellent problem-solving and negotiation skills

º Strong aptitude for leadership and providing others with assistance

º High level of attention to detail and accuracy

º Excellent time management skills

º Must be proficient in MS Office (Word and Excel)

Additional Information

Equity, Diversity & Inclusion

We are proud to be an equal opportunity employer and are committed to fostering an inclusive and accessible work environment that reflects the diversity of our customers and our communities. We welcome and encourage applications from individuals from all groups, including Indigenous people, women, visible minorities, and persons with disabilities, regardless of race, national or ethnic origin, colour, religion, age, sex, sexual orientation, gender identity or expression, marital status, family status, genetic characteristics, disability or any other legally-protected ground.

Accessibility

Accommodations for persons with disabilities are available upon request for job applicants taking part in all aspects of the recruitment process.

Pipeda

We may collect, use or disclose your personal information for the purpose of establishing an employment relationship with you.
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Deadline: 26-03-2024

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