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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 successful candidate will be responsible for enforcing the conditions of the mortgage contract on residential and commercial loans in default, while adhering to policies and procedures of the Mortgage Services department.

Core Responsibilities

50% Arrears/ Legal Action Process:

- Proactively manage portfolio of residential and commercial delinquent loans in default for breach of mortgage or loan conditions including non payment, tax arrears, past matured loans, property standards, insurance cancellations and any other breach identified; send notifications regarding returned payments and/or arrears to borrowers; closely monitor entire portfolio, obtain information as needed from third parties; identify loans requiring further financial assistance.




- Obtain and conduct full review of financial documents and make recommendations for workouts while ensuring bank interest and priority is secured; monitor accounts with active workouts to mitigate losses within guidelines and seek approval from management or insurer as necessary.
- Conduct portfolio reviews including valuation of the property, review site inspection report, borrower creditworthiness, lease review, building condition, environmental assessment; instruct property managers to conduct occupancy checks; when best efforts unsuccessful, take appropriate legal action in a timely manner to enforce mortgage contract and mitigate losses.
- Analyze and report regularly on defaulted loans along with recommended solutions to management.
- Liaise with mortgagors, guarantors, trustees in bankruptcy, brokers, lawyers and real estate agents; make best efforts to cure defaulted loans; collaborate with attorneys, receivers and internal management to recommend repayment terms.

30% Reporting and Time Management:

- Manage portfolio assignments in a timely manner, as per deadlines provided by management.
- Ensure all correspondence is responded to and documented within established timelines.
- Perform other duties as assigned.
- Prepare critical reports as required.

20% Administration:

- Manage collection activity on all accounts upon commencement of legal action until the mortgage is either up to date or paid out.
- Ensure all files are kept current and active with respect to property insurance, condo fees, utilities, property taxes and any other property management fees.
- Ensure payments and payouts are processed in a timely manner.
- Ensure all statements are accurately completed up to date, payout, notice of sale, and demand.

Let's Talk About You
- Diploma required in a related discipline.




- 3-5 years' experience in mortgage default (not including entry level); experience in workouts considered an asset.
- Comprehensive knowledge of mortgage enforcement and foreclosure remedies.
- Strong analytical, problem solving and negotiation skills.
- High degree of accuracy and solid attention to detail.
- Ability to handle tight deadlines.
- Strong organizational skills and ability to prioritize tasks.
- Effective communication skills.
- Intermediate to advanced Microsoft Office, Excel and SharePoint skills.
- Working knowledge of relevant systems required.
- Bilingual in English and French is preferred.

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

The incumbent will be working hybrid and in office time will be spent working from Equitable Bank's additional office space located at 2200-25 Ontario Street, 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.

We can't wait to get to know you!

Apply on Kit Job: kitjob.ca/job/2fsp7n

📌 Default Specialist (Toronto)
🏢 EQ Bank | Equitable Bank
📍 Toronto