Analyst, GIC & Payments

WHO WE ARE      

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.  

OUR VALUES, OUR PASSION

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

• Customer-Focused. Passionate Advocates 
• Courage to Act. Do the Right Thing 
• One Team. One Vision 
• Think Long-Term. Ever-Evolving 
• Be Exceptional. Inspire Greatness

POSITION SUMMARY

This role is an important function within HomeEquity Bank(“the Bank”); it ensures the Bank has sufficient liquidity to discharge its obligations and seeks to optimize that liquidity to maximize net interest margin (or ‘spread’) between income earning assets and interest bearing liabilities, while at the same time protecting the Bank’s value from financial risk.

The role will execute various treasury banking, cash management and deposit administration functions to support the day to day functioning of the Treasury team. Individual incumbents will have specialized day to day responsibilities but will be expected to be able to perform all of the major elements of the role as required.

MAJOR ELEMENTS OF THE ROLE

Deposit Management

Administer the Bank’s GIC deposits in the Portfolio Plus subledger system, including the following:

• Process and confirm daily GIC issuances
• Process and monitor payments of principal and interest, and commissions
• Set up new agents on the system (transfers-in) and configure them for appropriate processing
• Process re-registrations of existing deposits
• Process transfers in of new GIC deposits
• Process amendments and cancellations
• Process early redemptions
• Administer rate changes
• Maintain relationships with the operations teams of the Financial Institutions and Deposit Brokers distributing the Bank’s GICs,
• Work with Portfolio Plus to make desired enhancements to improve accuracy and efficiency of processing, accounting, reporting and forecasting
• Conduct software testing and upgrades as needed

Banking / Cash Management

• Review daily cash position and bank account balances
• Assist in the management of bank relationship and bank accounts
• Review and analyze monthly bank fees and charges
• Support and implement changes to banking structures and practices
• Perform other banking activities, including corporate EFTs and wires, positive pay, stop payments, etc.
• Timely processing of all initial mortgage advances to borrowers
• Processing additional advances to existing clients,
• Administration of monthly servicing payments required on existing mortgages,
• Periodic transactions as required to pay commission on mortgage originations
• Periodic transactions as required to execute intercompany mortgage transfers
• Assistance to accounting department with reconciliations of the mortgage account

Treasury Finance

• Support the maintenance of the Bank’s portfolio of debt and derivative instruments
• Track due dates for all payments required under these instruments, especially debt interest
• Process all banking activities related to these instruments, including interest payments and swap settlements
• Maintain relationship with operations teams of the retail banking platform (ScotiaBank), custodians (CDS and BNY Mellon Trust), investment dealers and other GIC deposit partners (Cannex, Portfolio Plus)
• Assist with maintaining the Bank’s portfolio of derivatives using the Treasury Management System (Reval), providing support for accounting and control functions,
• Assist the Treasurer in preparation of liquidity reports used by senior management.
• Assist accounting department with reconciliation of the GIC accounts, including ending balances and transaction activity
• Provide information and support for internal and external audit
• Provide information to facilitate monthly reconciliations with agents
• Support any initiatives to extend automated interfaces to G/L for accounting and disclosure information related to GIC deposits 

Treasury Management

• Monitor GIC rates of other issuers, providing key data in deciding the rate setting for HomeEquity Bank’s GICs
• Track GIC issuances by maturity tenor across various platforms, providing historical information and analysis on issuances
• Work with Treasury’s forecasting and interest rate models, to provide analysis and assist in GIC rate recommendations
• Provide information for senior management for ALCO (Asset Liability Committee) decision making purposes

SKILLS AND EXPERIENCE REQUIRED:

• Progressive experience in a cash management, banking or treasury administration role, preferably in a financial services or banking organization
• Bachelor degree in Commerce, Finance or Accounting
• Experience in setup and administration of banking software and familiarity with treasury database workstation
• Knowledge of financial markets, including fixed income investments and derivatives, would be an asset.
• Demonstrated integrity, creativity and enthusiasm in achieving results.
• Excellent problem solving and analytical skills.
• Ability to work independently, multi-task between priorities, and complete objectives on-time with minimal supervision in a fast paced environment.
• Detail oriented and organized; displays integrity and concern for accuracy and ownership of treasury processes and tasks.

Working Conditions Unique to Job

• Hybrid office environment

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
 

A Dynamic Culture – With People at the Centre  

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023. 
 

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.  
 

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness  

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.