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About the Role

The Quality Assurance Analyst is responsible for performing reviews and assessments of activities performed by individuals within the Bank “1st line’ Operations. The QA Analyst will assist in the development and maintenance of the Quality Assurance Framework for the SFR business, execute activities within the framework, and report findings to stakeholders. The objective is to ensure processes align with current policy and procedures, operate effectively, and coordinate with affected departments.

Responsibilities

Perform reviews and assessments of activities performed by individuals within the Bank “1st line’ Operations.
Assist the Manager in the development and maintenance of the Quality Assurance Framework for the SFR business.
Execute necessary activities within the QAF and discuss and report on findings to relevant stakeholders.
Conduct objective assessment and analysis of SFR mortgage files/documentation.
Replicate the credit decision, including TDS/GDS recalculation.
Confirm compliance with established credit and operational policies, procedures, processes, and controls.
Detect mortgage fraud and aid in fraud prevention measures.
Provide clear and factual reporting of findings/conclusions to the business unit.
Analyze each document separately and relate it to the deal as a whole for Single Family Residential mortgages.
Develop sound knowledge of checks required for each document and how to identify and report observations.
Sign Broker / Partner Commission and Miscellaneous cheques (within assigned limits).
Provide assistance to departmental staff members in support of other QA requirements.
Review and analyze mortgage applications, credit approval forms, corporate documentation, credit reports, income/employment documentation, and funding documentation to determine accuracy and completeness.
Read and understand Credit Risk Analysis performed by the business prior to completing a thorough review and substantiating observations.
Demonstrate a sound understanding of different product-types within SFR lending and their associated processes.
Visualize, articulate, conceptualize, or solve complex and uncomplicated documents and/or problems by making sensible decisions.
Review data accuracy/integrity to ensure consistent and routine application to the Company’s internal system.
Analyze and validate all reported observations and provide detailed and accurate documentation to substantiate findings.
Ensure all accounts suspected of containing fraud are accurately recorded on Sherlock and perform risk assessments on a broader scale.
Assist in the identification of new and evolving fraud trends or systematic issues and patterns.
Timely escalation/reporting of any evidence of fraud identified through detailed review which may impact other areas of the business.
Provide support to the front line business for any new initiatives that may directly affect the review process or business unit objectives.
Provide excellent customer service to other departments through professional written and verbal communication.
Maintain knowledge and understanding of SFR products, operations, processes, services, systems, and associated risks and controls.
Communicate with the Manager, Quality Assurance on status reports and duty prioritization.
Prepare training documentation and assist in training new staff or peers.
Review new and/or revised regulations, policy, and procedures and establish a continuous cycle of improvement for the QA Framework.
Coordinate and/or support the completion of special reviews and assignments as requested by the CRO and/or Director, Fraud Operations.
Conduct credit/operational analysis reviews of credit files as part of due diligence activities associated with potential acquisitions.
Conduct reviews of other staff members' work for consistency and coaching purposes.

Requirements

A minimum of five years’ experience in a Canadian financial institution.
A minimum of three to five years in a related role pertaining to residential mortgage origination (underwriting and operational).
Ability to review residential mortgage documentation, audit, perform analyses, validate and document potential risk to determine course of appropriate corrective action and/or make recommendations of such action.
In-depth understanding of Residential Mortgages underwriting processes and requirements.
Sound understanding of Mortgage related regulatory requirements (OSFII B20, AML/ATF), and Mortgage Insurer requirements (CMHC, Genworth).
PC skills including Microsoft Outlook, Word, Excel, Power Point, related applications and other software applications used within the organization.
Excellent organizational skills and ability to complete responsibilities in a busy and time-sensitive environment.
Strong analytical skills.
Strong verbal and written communication skills.
Attention to detail and an ability to identify potential problems within files.
Self-motivated.
Strong interpersonal skills.
Ability to work effectively in a team setting to accomplish goals and complete tasks.
Ability to conduct presentations if required.
Must successfully complete a criminal background check and credit check.

Skills

Quality Assurance
Mortgage Underwriting
Credit Analysis
Fraud Detection
Policy and Procedure Compliance
Risk Assessment
Microsoft Office Suite
Communication Skills
Analytical Skills
Organizational Skills
Attention to Detail

Location

Toronto, ON

Work Type

Hybrid

Experience Level

3-5 years
5+ years

Benefits

Competitive discretionary bonus
Market leading RRSP match program
Medical, dental, vision, life, and disability benefits
Employee Share Purchase Plan
Maternity/Parental top-up
Generous vacation policy and personal days
Professional development and comprehensive Career Development program

About the Company

EQ is remaking banking so every Canadian gets ahead, every day.
Serving nearly 4 million Canadians from coast to coast, EQ offers a wide variety of financial services from banking and lending, to trust and credit union solutions.
Challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences since 1970.
EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™.
EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.

Equal Opportunity

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported.
We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives.
We’re equally committed to supporting your growth, both professionally and personally.
We provide a barrier‑free recruitment process and work environment.
If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.
As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team.