Eqbank8mo ago

Securitization Analyst

Toronto · TorontoFull Timemid

OtherSecuritization Analyst

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Quick Summary

Key Responsibilities

Accounting group Capital Markets Treasury Prime Single Family and Commercial Lending Compliance and Internal Audit IT,

Technical Tools

OtherSecuritization Analyst

Join a Challenger

Being a traditional bank just isn’t our thing, so we challenge ourselves to get creative in providing innovative banking solutions for Canadians.

How do we get there? With a talented team of inquisitive and agile challengers that break through the status quo. So, if you’re passionate about redefining the future of banking—while having fun—this could be your next big opportunity.

Our company continues to grow, and today we serve more than 800,000 customers 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 $142 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 Securitization Analyst will be responsible for assisting with the effective and efficient administration and reporting of the Bank’s securitization programs. Responsibilities will include assisting with the execution of new securitization issuances and ongoing administration, preparing monthly investor reports, accounting, and financial analysis. This role requires the individual to possess well developed interpersonal and communication skills. The role will require comprehensive skills to interpret and analyze financial data.

The Securitization Analyst 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 independently, take initiative, and have good attention to detail.

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

Accounting for the issue and settlement of new NHA MBS pools.

Prepare monthly investor reporting such as CMHC 2840’s and payments to the Central Payor and Transfer Agent (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

Develop an 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

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

Support new securitization initiatives by working closely with Capital Markets and other relevant stakeholders

Interact with other departments and external stakeholders

Identify opportunities for process improvement and assist in the implementation of recommended changes

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 Reporting

Financial Operations

External interactions may include but are not limited to:

Strategic partners and service providers

CMHC

Computershare

External auditors

CDS

Formal Education

University/College undergraduate degree in Business Administration/Commerce; Accounting focus preferred

Pursuing professional designation in Accounting (CPA)

Related Experience

A minimum of 3 -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 an understanding of cash flow modeling

The ability to work independently 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, competing priorities 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)

The ability to learn quickly and develop knowledge and understanding of mortgage securitization through the CMHC NHA MBS and CMB programs.

The Securitization Analyst is expected to develop a strong understanding of the Bank’s various other securitization operations and accounting.

The Securitization Analyst must gain an understanding of complex and nuanced transactions.

Must be able to communicate clearly and provide thoughtful insights.