Director, Special Loans and Restructuring

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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 780,000 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 $138 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 () one of the top banks in Canada on the Forbes World’s Best Banks list since 2021.

The Director, Special Loans and Restructuring is responsible for direct oversight of the commercial arrears and default management process, on assigned loans, with a focus on mitigating financial loss to the Bank. The incumbent will lead and mentor a team of professionals in managing and resolving commercial defaults, assigned delinquencies, certain loans designated as “problem loans”, enforcing the conditions of the mortgage contract, implementation and development of recovery strategies (including applicable credit reviews/assessments), and support Commercial on complex breaches/matters as applicable.

Portfolio under leadership and management includes commercial product types and asset classes across Canada while adhering to the Company’s established policies and procedures. The Director will also be responsible for managing their own commercial default files and problem accounts.

Key responsibilities include establishing, implementing and overseeing procedures to ensure that default/credit risk is thoroughly assessed and within the Bank’s risk appetite. The Director will manage, supervise and mentor the team to ensure individual/departmental responsibilities are being completed in accordance with Company policies, procedures and priorities. The Director will monitor the loans, as assigned, under the Watchcall report, resolution of delinquencies/collection, manage workflow and recommend and/or approve credit submissions on facilities according to assigned delegation of authority (as applicable).

Additional credit‑related and administrative duties are also required to support Senior Management. The incumbent is responsible for communicating and co‑operating with external contacts as well as internal contacts/departments.

• The incumbent will oversee and manage, as assigned, the administration and/or execution of delinquent and certain problem loans while minimizing losses to the Bank. Including supporting the team in negotiating acceptable arrangements/settlements to resolve breaches and/or forbearances agreements to avoid enforcement while limiting any risk to the Bank.
• Manage and/or administer complex delinquent and problem commercial mortgages and conduct full financial review prior to recommendations to Senior Management
• Assess and execute on optimal workout strategy with the team when processing loans for legal action based on mortgage enforcement remedies by law (including non‑payment, non‑renewals, tax arrears, bankruptcies/liens, other material breaches or adverse changes etc.)
• Provide support by liaising with mortgagors, guarantors and subsequent encumbrances, trustees in bankruptcy, brokers, lawyers and realtors, to make best efforts to cure defaulted loans or negotiate credit enhancements to allow extended repayment terms while protecting losses including restructuring of covenants and earning fees or step‑up interest, when applicable.
• Ensure legal remedies are presented to Senior Management, with complete full reviews submitted prior to providing instructions to the solicitor and pivoting legal action as required to maximize…