Join a Challenger
At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.
We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.
What's kept us moving? The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.
If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity.
We can’t wait to get to know you!
The Work
The Senior Manager, Credit Risk, reports to the Director, Credit Risk Management, and supports the Director, Credit Risk Management, and other Senior Management with respect to the management of all aspects credit risk across the Bank. The Senior Manager, Credit Risk, will also be responsible for assisting in the development of credit risk strategies and leading the second line oversight of various loan portfolios with the objective of maintaining high quality lending strategies and the implementation of risk mitigation strategies.
The Senior Manager, Credit Risk, will lead the Commercial Credit review oversight process in order to ensure that underwriting parameters are being followed appropriately in line with the Bank’s policies and AIRB requirements. Another key aspect of the role is involvement in the approval and/or recommendation of Cash Surrender Value (CSV) credit facilities to ensure that the criteria falls within the Company’s lending and regulatory requirements. The role is also responsible for leading second line credit risk oversight of the Bennington Financial Corporation (BFC) division.
The position is also accountable for managing the Credit Risk Team and key relationships, both internal and external, that have credit related responsibilities or impacts.
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The Core Responsibilities
Credit:
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Lead the Commercial Credit review process in line with the relevant policies and procedures in order to assess the soundness of underwriting procedures and processes, and determine if they are being followed. This includes a specific focus on risk rating assignments in order to ensure they are conducted in accordance with the Bank’s rating policies.
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Provide ongoing recommendations and feedback to ensure the Company maintains adequate credit policies and procedures (with a specific focus on Commercial, BFC and CSV loan products) within the Bank’s risk appetite; recommend modifications to these policies as required to manage risk within prevailing economic conditions.
Quality Assurance:
New Initiatives:
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Where applicable, work with the Director, Credit Risk Management, to support Corporate Development and provide Risk input into the exploration of new market and product initiatives, conduct operational and financial feasibility studies and develop thorough business cases for new business opportunities. Contribute to the review and approval process with Senior Leadership and Board of Directors.
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With Risk Capital & Analytics, provide Risk input into the development of financial models to help validate Credit Risk Assessment of new initiatives, consider organizational impact and returns on regulatory and economic capital.
Bennington Financial Corporation (BFC):
AIRB:
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The Senior Manager, Credit Risk will be expected to provide feedback regarding Risk input and oversight into the creation and ongoing maintenance of Internal Ratings Based Risk Rating systems for Commercial, SFR, and new products.
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The Senior Manager, Credit Risk, is expected to continuously review relevant policies and procedures across the business units and make recommendations to evolve and adapt the relevant frameworks in a manner that supports the successful implementation and ongoing maintenance of AIRB processes and procedures.
Let's Talk About You
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Have a minimum of 10 years of lending experience with expertise in a combination of commercial banking, retail lending including single family mortgages, real estate lending including construction and commercial mortgages, asset based lending or leasing, and portfolio management experience
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Deep understanding of real estate/commercial/asset based underwriting and valuation techniques [NPV (Net present value), IRR (Internal Rate of Return), determination and capitalization of NOI (Net operating Income)], financial statement analysis, secured lending and factors affecting the mortgage market
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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 EQ Bank’s additional office space located at 2200-25 Ontario Street, Toronto, ON.
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. We’re equally committed to supporting your growth, both professionally and personally.
We provide a barrier‑free 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.
To learn more, visit eqb.investorroom.com and eqbank.ca.
