Senior Analyst, Quality Assurance

Summary

Join Equitable Bank, Canada's Challenger Bank™, a growing family serving over 670,000 people. As a Quality Assurance Analyst, you will perform reviews and assessments of 1st line operations, ensuring processes align with policies and procedures. You'll analyze mortgage files, detect fraud, and report findings to stakeholders. This role requires strong analytical and communication skills, experience in residential mortgage origination, and a deep understanding of mortgage underwriting and regulations. Equitable Bank offers competitive benefits, including a bonus program, RRSP matching, comprehensive health benefits, and professional development opportunities.

Requirements

• A minimum of five years’ experience in a Canadian financial institution
• A minimum of three to five years in a related role pertaining to residential mortgage origination (underwriting and operational)
• Ability to review residential mortgage documentation, audit, perform analyses, validate and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action
• Possess an in depth understanding of Residential Mortgages underwriting processes and requirements
• Sound understanding of Mortgage related regulatory requirements (OSFII B20, AML/ATF), and Mortgage Insurer requirements (CMHC, Genworth)
• PC skills including Microsoft Outlook, Word, Excel, Power Point, related applications and other software applications used within the organization
• Excellent organizational skills and ability to complete responsibilities in a busy and time sensitive environment
• Strong analytical skills
• Strong verbal and written communication skills
• Attention to detail and an ability to identify potential problems within files
• Self-motivated
• Strong interpersonal skills
• Work effectively in a team setting to accomplish goals and complete tasks
• Ability to conduct presentations if required
• Successfully pass a criminal background check and credit check to qualify for hire

Responsibilities

• Perform reviews and assessments of activities performed by individuals within the Bank “1st line’ Operations
• Assist the Manager in the development and maintenance of the Quality Assurance Framework [“QAF”] for the SFR business and execute the necessary activities within the QAF
• Discuss and report on findings to the relevant stakeholders
• Conduct objective assessment and analysis of SFR mortgage files/documentation with focus on: Replicating the credit decision (includes TDS/GDS recalculation); Confirming compliance with established credit and operational policies, procedures, processes and controls; Detection of mortgage fraud and aid in fraud prevention measures, as outlined in the SFR Mortgage Fraud Control Procedures; Clear and factual reporting of findings/conclusions to the business unit
• Develop sound knowledge of what checks are required for each document in the file and how to identify and report each observation
• Sign Broker / Partner Commission and Miscellaneous cheques (within assigned limits)
• Provide assistance to departmental staff members in support of other QA requirements
• Review and analyze mortgage applications, credit approval form, corporate documentation, credit reports, income/employment documentation and funding documentation to determine accuracy and completeness
• Read and understand the Credit Risk Analysis performed by the business prior to completing a thorough review and substantiating observations
• Have a sound understanding of different product-types within SFR lending and the different processes that surround each product; such as Alternative, Prime, HELOC mortgages, CMHC Insured product and Third Party Serviced loans and mortgages
• Visualize, articulate, conceptualize or solve both complex and uncomplicated documents and/or problems by making decisions that are sensible given the available information and resources
• Review data accuracy/integrity to ensure the information is consistently and routinely applied to the Company’s internal system
• Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings
• Ensure that all accounts suspected of containing fraud are accurately recorded on Sherlock and perform risk assessments on a broader scale, when identified
• Assist in the identification of new and evolving fraud trends or systematic issues and patterns
• Timely escalation/reporting of any evidence of fraud identified through detailed review which may impact other areas of the business
• Provide support to the front line business for any new initiatives that may directly affect the review process or business unit objectives
• Provide excellent customer service to other departments through professional written and verbal communication
• Maintain knowledge and understanding of SFR products, operations, processes, services, systems and associated risks and controls
• Communicate with the Manager, Quality Assurance on status reports and duty prioritization
• Prepare training documentation as well as assist in training new staff or peers
• Review of new and/or revised regulations, policy and procedures and establish a continuous cycle of improvement for the QA Framework
• Coordinate and/or support the completion of special reviews and assignments as requested by the CRO and/or Director, Fraud Operations
• Conducting credit/operational analysis reviews of credit files as part of due diligence activities associated with potential acquisitions
• Conducting review of other staff members work for consistency and coaching purposes

Benefits

• 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
• Annual professional development allowance and a comprehensive Career Development program