BES Credit Intern (Fall 2024)

Purpose of Job

• The BES Credit Intern is responsible for onboarding, maintaining, and updating commercial mortgage files/pipeline report along with being responsible for underwriting conventional commercial mortgages. They will also be responsible to liaison between the Account Manager, Underwriting, Funding and Compliance departments, ensuring compliance with the Company’s established lending guidelines and requirements.  Additional duties are also required including providing the Manager with administrative and clerical support and supporting the underwriting team in document fulfillment and due diligence tasks from receipt of deal through to the funding stages. The incumbent will ensure compliance with the Company’s established lending guidelines and specific deal requirements. 

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 workflowto meet prescribed deadlines (20%). 
• Willassist 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%)   

Knowledge/Skill Requirements

• Currently enrolled in University or College program (Finance, Business, Accounting or Economics is preferred) 
• Extensive working knowledge of MS Office (Word, Excel, Outlook, Power Point) 
• Strong analytical skills 
• Strong organizational skills 
• Ability to handle multiple competing priorities 
• Good time management skills 
• Highly developed verbal and written communication skills with the ability to respond in a clear, concise, and professional manner 
• Bilingualism is an asset 

How to Correctly Submit Your Application

• All applications must be submitted through our company website: https://jobs.lever.co/eqbank . Search for: BES Credit Intern (Fall 2024)
• Please note that you must be an active student going back to school. Applications from students who have already graduated will not be accepted unless you need to do a co-op placement in order to graduate.
• Please scan together and submit ONE DOCUMENT that includes your transcripts, resume and cover letter. Please note that if the application is not completed properly, it will not be accepted.