28 Aug
|
Equitable Bank
|
Toronto
28 Aug
Equitable Bank
Toronto
The work! Focusing on the accounting, reporting, and financial analysis of the Banks securitization activities.
Develop a strong understanding of securitization profit calculations and accounting.
Follow established accounting practices to ensure that the financial and operating reports accurately reflect the condition of the securitization business in accordance with accounting standards.
Assist with the routine accounting processes for the securitization activities of both Equitable Bank and Equitable Trust; ensuring timely and accurate accounting and reporting of financial results Oversee the accounting for creation, issuance, and settlement of new NHA MBS pools Oversee daily cash tracking and balancing of servicer partners, including bank reconciliations Ensure timely and accurate accounting and reporting on Covered Bonds activities.
Support the monitoring of securitization regulations to identify new or changing requirements, evaluate the applicability of the requirements to the Bank, and then assisting with the modification or establishment of new data sources/systems/processes to accommodate and comply with the requirements Provide support to the Accounting group, assisting them with their mandate in establishing appropriate accounting for the Banks securitization activities; including NHA MBS and Covered Bonds.
Key contributor to the financial statement close process through the preparation of monthly accounting schedules Assist in the preparation of month-over-month variance analysis in financial results and program profitability Assist with the preparation of financial statements notes and other disclosure requirements on a quarterly basis Respond to accounting inquiries, providing ad hoc analysis for use in management decisions Support compliance interactions with government agencies and external auditors, including reviews, audits and other communications Identify opportunities for process improvement and assist in the implementation of recommended changes, including training of team members.
Support new securitization initiatives by working closely with Capital Markets and other relevant stakeholders Ensure effective and efficient staff performance by providing ongoing support and guidance, as well as coordinating, scheduling, and reviewing the contribution of direct reports Liaise with other departments and external stakeholders.
Internal interactions may include but are not limited to Accounting group, Capital Markets, Treasury, Prime Single Family and Commercial Lending, Compliance and Internal Audit, IT, BA and Project Management, and Financial Planning and Analysis External interactions may include but are not limited to Strategic partners and service providers, CMHC, Computershare, and external auditors Knowledge/Skill Requirements: Post-secondary education and qualified designation in Accounting (CPA) A minimum of 5 years of experience in accounting or financial reporting at a financial institution,
with at least 2 years in a leadership role Knowledge of/experience with CMHC sponsored NHA MBS and CMB securitization programs would be an asset Strong technical aptitude, with a proven understanding of cash flow modeling Possesses strong leadership skills with an ability to work independently, influence and engage across the organization Experience with execution of complex financial reporting requirements, preferably securitization related Experience in the mortgage industry and securitization preferred Experience with data management and reporting systems Experience in process development and controls management Specific Attributes Possesses strong analytical abilities and very detailed oriented Outstanding interpersonal skills with ability to build solid relationships with other members of the Finance department, business unit representatives, and internal and external stakeholders Excellent verbal and written communication skills, with the ability to communicate clearly and concisely Strong organizational skills with the ability to prioritize multiple tasks and meet tight deadlines within a fast-paced environment Independent thinker and self-starter who will be able to work independently and exercise good professional judgment Ability to identify and drive process improvements, maintaining a strict control environment Proficient computer skills (advanced Microsoft Excel, Access, Word, and accounting systems Job Complexities/Thinking Challenges: The ability to learn quickly and develop knowledge and understanding of mortgage securitization through the CMHC NHA MBS and CMB programs The Manager, Securitization must be comfortable with complex and nuanced transactions that require innovative thinking and the development of tailored/customized solutions The Manager, Securitization is expected to develop a strong understanding of the Banks securitization operations and accounting Strong process related skills would be beneficial to identify and assess process improvement opportunities and assist with the development and execution of solutions Must be able to communicate clearly and provide thoughtful insights Accountability The incumbent will operate under the management and guidance of the Director, Securitization, assisting in the effective management of nearly $40 billion securitized mortgage portfolio contributing approximately $100 million to the Banks income.
The incumbent will work closely with the following stakeholders: Senior Director, Finance and the accounting team on accounting policy and financial reporting Managing Director,
Capital Markets in coordinating the Banks securitization activities Senior Director, Financial Planning & Analysis in the development and maintenance of portfolio and profitability analysis The Manager, Securitization will be accountable for: Meeting the organization''s expectations for productivity, quality, and objectives Contributing to a team culture that works collaboratively with internal and external stakeholders Working with the team to collectively deliver on the teams goals Participating in target setting, regular touch base meetings, performance development planning, and formal semi-annual performance reviews All reporting is extremely time sensitive and can directly impact the Banks funding programs.
Physical Demands / Working Conditions Normal office environment with no physical demands.
However, there is substantial pressure, at times, placed on the incumbent due to the time sensitivity of certain transactions and reporting requirements.
Hybrid work environment with 3 days in office required per week.
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 Fin
Techs and help create a new kind of banking experience Equity, Diversity & Inclusion EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported.
We believe our organization is stronger and our people thrive when we honour and celebrate diverse experiences, identities, and perspectives.
Were equally committed to supporting your growth, both professionally and personally.
We provide a barrierfree recruitment process and work environment.
If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.
As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position.
All AI-enabled outputs are reviewed and validated by our talent team.
All candidates considered for hire must successfully complete a criminal background check and credit check.
While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role. EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country''s seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada''s Challenger Bank. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.
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📌 Securitization Administration Manager (Toronto)
🏢 Equitable Bank
📍 Toronto