Senior Analyst, Quality Assurance

Join a Challenger

Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.

We are a big (and growing!) family. Overall we serve more than 670,000 people 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 $125 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 Quality Assurance Analyst is responsible for performing reviews and assessments of activities performed by individuals within the Bank “1st line’ Operations.

The QA Analyst is responsible for assisting the Manager in the development and maintenance of the Quality Assurance Framework [“QAF”] for the SFR business and executes the necessary activities within the QAF and will be required to discuss and report on findings to the relevant stakeholders.

The QA team’s objective is to ensure that the process is in line with current policy and procedures, is operating effectively and is coordinated with any department that is directly affected by the reported observations.

The QA Analyst is responsible for conducting 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

This position requires an ability to analyze each document separately, but also to be able to relate it to the deal as a whole for Single Family Residential mortgages. The QA Analyst will develop sound knowledge of what checks are required for each document in the file and how to identify and report each observation.

Additional responsibilities include /Signing of Broker / Partner Commission and Miscellaneous cheques (within assigned limits), and 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.
• Must have the ability to read and understand the Credit Risk Analysis performed by the business prior to completing a thorough review and substantiating observations
• 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
• Have the ability to 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

• 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.
• Must 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. 

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

🎓  Annual professional development allowance and a 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!