Full time| Mid-Senior Level | Reports to the Senior Manager, Underwriting

Position Summary

Reporting to the Senior Manager, Underwriting, the Team Lead, Underwriting is responsible for assessing and evaluating loan applications and borrower creditworthiness, while also providing day-to-day leadership support to a small team of underwriters.

Key Responsibilities

Underwriting (70-80%):

• Conduct thorough analysis of loan applications, financial statements, credit reports, and other relevant documents to assess borrowers’ creditworthiness.
• Evaluate the risks associated with the loan requests and make informed decisions based on established underwriting guidelines.
• Evaluate financial statements, income documentation, and collateral to determine the level of risk involved in granting loans.
• Analyze credit history, repayment capacity, and industry trends to assess the likelihood of timely loan repayments.
• Ensure compliance with regulatory requirements, internal policies, and lending guidelines.
• Stay up to date with changes in lending regulations and implement necessary modifications to underwriting processes.
• Collaborate with loan officers, credit analysts, and other departments to gather information, clarify details, and resolve any discrepancies related to loan applications.
• Work closely with relationship managers to understand the needs of clients and offer appropriate credit solutions.
• Present loan recommendations and credit proposals to senior management or credit committees.
• Provide clear justifications for credit decisions, highlighting the risk factors and mitigants, as well as alternative options, if applicable.

Team Lead (20-30%):

• Review and challenge deals prepared by underwriters prior to escalation to the Senior Manager, ensuring quality, consistency, and adherence to guidelines.
• Actively monitor pipeline to ensure deals are progressing efficiently, identifying bottlenecks and addressing delays.
• Provide guidance and coaching to underwriters on complex files, deal structuring, and risk assessment.
• Support consistency in underwriting approach, documentation standards, and decision rationale across the team.
• Act as a key point of contact for escalations and day-to-day questions from team members.
• Foster a collaborative, accountable, and high-performance team environment.

Requirements

• Bachelor’s degree in Finance, business administration, or a related field.
• Minimum 10 years’ experience in residential mortgage lending and underwriting within the banking industry.
• In-depth knowledge of lending regulations, credit risk assessment methodologies, and underwriting principles.
• Strong analytical skills with the ability to interpret financial statements, credit reports, and other relevant financial data.
• Familiarity with credit scoring models and underwriting software/systems.
• Excellent communication and interpersonal skills to collaborate with internal stakeholders and interact with clients.
• Ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.
• Attention to detail and strong problem-solving abilities to identify risks and propose effective solutions.
• Understanding of economic trends, industry analysis, and market dynamics to assess the potential risks in loan portfolios.

What You Need to Know

At WealthONE, our people are our greatest asset. You’ll become part of a diverse and growing team that acknowledges everyone’s unique talents to do what’s right for the client, and to do it well. As part of our team, you will:

• Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and at home.
• Connect: Work in a place that fosters creativity and collaboration.
• Develop: Apply your skills and grow your career in a young, fast-growing environment.
• Prosper: Share in our collective success with a competitive salary, incentive pay, and excellent health benefits program.

WealthONE is an equal opportunity employer committed to creating an inclusive environment where all team members and clients feel like they belong.

The role requires a minimum of 2 in-office days. You also need to be legally eligible to work in Canada.

To learn more, please visit us at Wealth One Bank of Canada - About Us (https://www.wealthonebankofcanada.com/Personal/AboutUs/)