Commercial Credit Bes Intern Summer 2024

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 370,000 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 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform (eqbank.Ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists. Work Term: May 2024 – August 2024 Purpose of the Job: Equitable Group Inc. trades on the Toronto Stock Exchange (TSX: EQB and EQB.PR.C) and serves a growing number of Canadians through Equitable Bank, Canada's Challenger Bank™. Equitable Bank has grown to become the country's eighth largest independent Schedule I bank with a clear mandate to drive real change in Canadian banking to enrich people's lives. Founded over 50 years ago, Equitable Bank provides diversified personal and commercial banking and through its EQ Bank platform has been named #1 Bank in Canada on the Forbes World's Best Banks 2021 and 2022 list. EQ Bank provides state-of-the-art digital banking services, like the Savings Plus Account that reimagines banking by offering an everyday high interest rate, plus the flexibility of a chequing account, as well as a wide range of smart banking solutions for Canadians, like fast international money transfers, US dollar accounts and a suite of registered products. Main Activities:

• The incumbent will on board loans by adding loans to SIT and RAISE platforms. Scrub the loan details against SFR watch/deny list and document the Broker verification process. The incumbent will scrutinize the contents of the file with a strong emphasis on anti-money laundering (AML) and anti-terrorist financing (ATF) requirements, to assess if CIF merges are required, review existing AML scores, ensure any STR/SATs are dealt with accordingly and archive all documents received to date to Athena (10%)
• Will be responsible to communicate with internal contacts (i.E., Account Managers, Underwriters, Funders, Compliance) and third-party providers (i.E., Brokers, Partners, Clients) to obtain/review required AML documentation and act as a liaison between various groups within the department. Ensuring transactions are processed in a timely and efficient manner to deliver superior customer service, while ensuring compliance with the Company’s established AML policies and lending guidelines and requirements. Completion of the Fintrac form prior to funding and recommend to Management for approval (10%)
• Generate CAFs by updating loan details in SIT as per approved LPD write ups and recommend to management for approval. Update statuses or closing dates as requested, process good faith deposit cheques on SIT, document loan cancellations on SIT, RAISE and Athena, prepare loan cancellation memos for fee reimbursement for senior management approval and cut reimbursement cheques from SIT or request wires from Funding (10%)
• On regular basis, assist the underwriters in preparation of draft commitments, instructing the funding dept, income analysis and employment verbal verifications, the incumbent is responsible for time management of their workflow to meet prescribed deadlines (20%)
• Will assist with the timely and efficient collection of documents for transactions by communicating with external contacts (i.E., partners, brokers, sponsors) to ensure a deal is ready for underwriting and subsequent funding. The incumbent will scrutinize the files to ensure accurate receipt. The incumbent will also assist underwriters in the preparation of supporting documentation required as part of a credit submission like industry segmentation, aggregate exposure, and AML form (25%)
• Also, the incumbent will analyze and underwrite commercial credit facilities together with additional credit related and administrative duties, for conventional commercial mortgage product types. Attention must be made to ensure that compliance with the company’s established lending guidelines and procedures are followed with recommendations submitted for approval to management. The incumbent is responsible to ensure all lending criteria have been satisfied on deals underwritten and outstanding documentation/conditions, if any, are being met in a timely manner (25%)