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Senior Securitization Accountant

Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada Req #1031
Monday, September 14, 2020

Canada's Challenger Bank™

Equitable Bank manages over $34 billion in assets and is a wholly-owned subsidiary of Equitable Group Inc. It was founded in 1970 as The Equitable Trust Company and has become Canada’s ninth largest Schedule I bank. Equitable Bank offers a diverse suite of residential lending, commercial lending, and savings solutions, including high-interest savings products and GICs.

At Equitable, we have no doubt that financial services are changing. Consumers increasingly prefer to interact remotely through digital channels and are less likely to visit brick and mortar locations. That’s why we launched EQ Bank in 2016. Its approach to simple and convenient banking makes it a strong contender in the industry. We believe there’s an opportunity for something different, to provide better service and a better deal for our customers through digital banking.

Job Title:            Senior Securitization Accountant                                                       

Department:     Finance

Reports To:        Senior Manager, Securitization



 

Purpose of Job

 

The Senior Securitization Accountant will be responsible for the effective and efficient administration and reporting of the Bank’s securitization programs.  Responsibilities will include executing new securitization issuances and ongoing administration, preparing monthly investor reports, accounting, and financial analysis.  This role requires the individual to possess a high degree of knowledge, experience, and well developed interpersonal and communication skills.  The role will require comprehensive skills to interpret and analyze financial data.  The position will also require a candidate to have experience in the area of data and systems management.  The Senior Securitization Accountant will work closely with internal and external stakeholders including the Bank’s Accounting group, Capital Markets and Treasury departments, CMHC, Computershare, strategic business partners, third party service providers, and the Bank’s external auditors.  Strong organization and multi-tasking skills are a must.  The individual should be able to work with work independently, take initiative, and have good attention to detail.

                                                                                                    

Main Activities:

 

The main activities of this position will be focused around the administration, accounting, reporting, and financial analysis of the Bank’s securitization activities. 

  • Executes for the creation, issuance, and settlement of new NHA MBS utilizing mortgageHUB software
  • Prepares monthly CMHC 2840 investor reporting and payments to the CPTA
  • Develop an understanding of and adhere to the Bank’s policies and procedures as it relates to compliance with CMHC’s NHA MBS and CMB Guidelines
  • Support the Senior Manager, Securitization with 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
  • Responsible for daily cash tracking and balancing including bank reconciliations
  • 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. 
  • 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
  • Support new securitization initiatives by working closely with Capital Markets and other relevant stakeholders
  • 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
    • Financial Planning and Analysis
    • Financial Operations

External interactions may include but are not limited to:

    • Strategic partners and service providers
    • CMHC
    • Computershare
    • External auditors

 

Knowledge/Skill Requirements:

 

Formal Education

  • Professional designation in accounting (CPA)

Related Experience

  • A minimum of 5 years of experience in accounting or financial reporting at a financial institution
  • 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 the 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 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)

 

Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates.  Accommodations are available on request for candidates taking part in all aspects of the selection process. 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

Other details

  • Pay Type Salary
  • Equitable Bank, 30 St. Clair Ave West, Suite 700, Toronto, Ontario, Canada