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Title:  Mortgage Fulfillment Officer - Toronto, ON

 

 

 

 

 

Requisition ID: 74504

 

Join the Global Community of Scotiabankers to help customers become better off.

Purpose of Job:

 

MOSE delivers a unique value proposition to Scotiabank, acquiring new customers to the bank, segmenting Mortgage Broker Customers and providing “high touch” underwriting and funding services to our top tier “Achiever” Brokers and “High Volume” Home Financing Advisors. Each Mortgage Fulfillment Officer (MFO) works closely with multiple assigned Broker Relationship Managers (BRM) or Home Financing Lending Managers (HFLM) The BRM/HFLM and MFO are the single point of contact for the Mortgage Broker/Home Financing Advisor throughout the entire underwriting/funding process. The MFO on average would be responsible for funding 800 + or - mortgage originations annually representing over $225 Million. The MFO is responsible for setting up the customer and mortgage information onto multiple Scotiabank systems, instructing the lawyer, preparing and packaging the file and dispersing mortgage proceeds. The MFO is also responsible for ensuring all additional credit adjudication is identified and accurately communicated to the branch staff to assist the branch in reaching their cross sell objectives.

 

He/she provides an excellent, differentiated level of customer service to assigned Broker Relationship Managers/Home Financing Lending Managers and high volume Mortgage Brokers/Home Financing

Advisors, as well as, all internal and external contacts including Branches, Solicitors and Business Partners.

 

He/she ensures strict adherence to internal Bank policy and procedures including “Know Your Customer” Guidelines, Privacy Code, Anti-Money Laundering Regulations, such that the Bank’s legal, operational and reputational risks are protected at all times.  He/she determines and escalates all out-of-policy exceptions for resolution.

 

Major Accountabilities:

1. Provide accurate, timely and efficient administration of new authorized mortgage applications from high volume Mortgage Brokers and high volumeHome Financing Advisors, from Customer acceptance through to funding by:

  • Monitor daily work, prioritize and complete with a high degree of accuracy within established SLA.
  • Accurately preparing and forwarding instructions to the lawyer within established SLA.
  • Forward mortgage documents to branch for customer signing through workflow within established SLA.
  • Accurately preparing mortgage files and forwarding to the branch for filing.
  • Reviewing Request for Funds and Identification Verification documents provided by Solicitor to ensure it is accurate and in compliance with Bank requirements.
  • Accurately entering mortgage information into various Bank systems such as the Alternate Mortgage Channel Underwriting platform (MIMS), Term Lending System (TLS), Customer Information System (CIS), Visa and Scotialine platform (KS),
  • Workflow, Imaging and Document Repository (IRIS) and the Mortgage Fulfillment System (MFS)
  • Accurately preparing and reviewing documentation including Personal Credit Agreement (PCA), Cost Of Borrowing (COB), Mortgage Protection Application (MPA) and Bridge loan security documents, ensure all disclosures are enclosed as per regulatory requirements.
  • Requesting all internal mortgage payout statements and providing to the appropriate party.
  • Requesting all external payout statements and preparing drafts for all 3rd Party Mortgage Fulfillment partners (Fidelity National Financial & First Canadian Title).
  • Calculate and refund mortgage prepayment penalties based on bank policy.
  • Make appropriate decisions regarding the deal structure to ensure it is in accordance with bank policies (ex ILA set up, SAM Warnings, STEP limits, links, ports and STEP Restructures).
  • Determining and escalating issues such as title defects, credit compliance deficiencies as required.
  • Dispersing mortgage proceeds on the correct date and to the appropriate payee; verifying the accuracy, completeness and obtain Team Leader authorization.
  • Preparing posting worksheets for the Mortgage Accounting Department to post the corresponding GL entries.
  • Ensuring prompt, accurate and thorough response and resolution to telephone and written enquiries from branches, lawyers, BRMs/HFLMs and Achiever Mortgage Brokers/High Volume Home Financing Advisors
  • Acting as intermediary to communicate information between BRMs/HFLMs, Braches and Solicitors.
  • Maintaining accurate records and filing systems per established procedures.
  • Providing backup, as required, to other Mortgage Fulfillment Officers to cover absences/vacations.
  • Take corrective measures or recommend same to prevent recurrence of errors/problem situations.
  • Assist and ensure implementation of required changes (system, policy, procedures)
  • Identify opportunities for process improvements and developing recommendations for consideration.
  • Identify opportunities for cost savings and/or increased efficiency.
  • Maintaining a thorough knowledge of the systems (MIMS, MFS, TLS, CIS, Adobe, KS,workflow, IRIS) and Expert knowledge of Scotiabank’s mortgage products, policies, procedures and processes.

 

2. Provide superior customer service to BRMs/HFLMs, Achiever Mortgage Brokers/High Level Home Financing Advisors, Branch Officers, Solicitors
by:

  • Delivering a high level of “front-line” service and support.
  • Ensure cross sell opportunities are identified and communicated to branch sales staff to assist the branch in reaching their cross sell objectives by reviewing additional credit adjudication notes and ensuring BRM/HFLM green releases deal outside of 5 days to ensure Branch “Pre Funding Advise” notification is received.
  • Establishing and maintaining effective support and working relationships with assigned BRMs/HFLMs and Mortgage Brokers/Home Financing Advisors; establishing and maintaining an open, co-operative, customer centric relationship with other Bank service units to ensure consistency of service including the Central Mortgage Unit and Branches, as well as external partners, such as solicitors, Brokers & 3rd Party Mortgage Fulfillment partners (Fidelity National Financial & First Canadian Title).
  • Establishing and maintaining superior knowledge of mortgage products and related services to ensure the ability to provide prompt, accurate and knowledgeable service to BRMs/HFLMs, Mortgage Brokers/Home Financing Advisors and Branch staff.
  • Ensuring exception conditions are dealt with quickly and appropriately, including preparation of documentation, presentation to the appropriate authority levels, and accurate / timely execution of instructions.
  • Assuming full responsibility for all BRM/HFLM, Customer, Branch and Solicitor enquiries, concerns and complaints, ensuring prompt, accurate, efficient and thorough response by resolving them within discretion or escalating to Team Leader.
  • Providing guidance, product knowledge and policy information to Branch Staff, BRM/HFLM & Solicitors.
  • Proactively identify ways to improve level of service/support provided by department.

 

3. Ensure the Bank’s risk profile is mitigated by:

  • Ensuring all processes, documentation and regulatory requirements or changes are adhered to.
  • Ensuring all mortgage documentation used meets Bank standards, protecting both the organization and the customer.
  • Ensuring compliance and recording of customer identification requirements to satisfy AML legislation.
  • Ensuring any outstanding conditions are followed-up with the BRMs/HFLMs through to resolution.
  • Maintaining integrity of customer and financial records and ensuring business practices conform to established Bank policies and procedures.
  • Maintaining Bank and customer confidentiality.
  • Responsible for promptly and appropriately escalating to Team Leader any incidences of KYC related non-compliance and unusual transactions.
  • Ensuring all stamps, keys, combinations and customer information are held in accordance with Bank regulations and security procedures, and are maintained as assigned.

 

Education/Work Experience/Designations:

 

Functional competencies:

 

  •  Thorough knowledge of the Bank’s Mortgage Broker delivery strategy.
  •  Thorough knowledge of BNS mortgage products, policies and mortgage documentation requirements including Step restructures, Ports and Links.
  •  Thorough knowledge of systems used in the alternate mortgage channel and related procedures including Term Lending System, KS (VISA), MIMS, MFS, IRIS, Workflow and CIS.
  •  Working knowledge of the roles and responsibilities of other Bank service and support functions crossing all delivery channels.
  •  Working knowledge of PC skills using common software tools such as MS Microsoft Word, Excel, Outlook, Adobe.
  •  Thorough knowledge of the Bank’s regulations, policies procedures and operations.
  •  Thorough knowledge of One Team One Goal values and Complaint Resolution Standards and Procedures.
  •  Working knowledge of processes & systems that support the domestic branches, centralized units and contact centers, bank accounting and controls.
  •  Organizational and self-motivational skills along with the ability to prioritize and deal with a variety of task/files.
  •  Minimum 1 year mortgage industry experience.

 

Behavioral competencies:

 

  • Excellent organizational skills; accuracy, thoroughness and detail oriented. Holds self responsible and accountable. Sets in place procedures and/or work processes in order to facilitate accurate work and to ensure high quality output. Holds self personally accountable for high quality work output.
  • Excellent prioritization skills. Must have the ability to multi-task and prioritize using judgment as incumbent must determine relative priorities of broker/Home Financing Advisor activities. Manages own time, resources, flow of work to benefit self, staff and customer. Reduces workload by understanding the difference between what is essential and what is not. Examines processes to reduce the number of steps leaving only critical value-added steps. Prioritizes and acts on higher-priority tasks first resulting in customer/staff satisfaction and decrease in work stress.
  • Excellent customer service focus; good interpersonal, communication (written and verbal) and problem solving skills, to deliver and differentiate a superior service level to the Achiever Broker/High Level Home Financing Advisor sector. Act as a trusted advisor: becomes actively involved in BRMs/HFLMs decision making process as appropriate.  Develops and acts on an independent opinion on BRM/HFLM problems or opportunities and possibilities for implementation. Models strong service excellence to all employees in every interaction, both in words and actions.
  • Ability to work independently and in a team environment. Facilitates team work and builds team spirit. Solicits input/feedback, genuinely valuing others’ input and expertise, and is willing to learn from others. Consider other groups’ perspectives. Recognizes when a team is not working well. Seeks to clarify roles, tasks, priorities and team dynamics required to achieve team effectiveness. Publicly credits group members on accomplishments. Promotes own group’s reputation with others
  • Must build excellent working relationship with assigned BRMs/HFLMs. Ensures continuity in a network of internal relationships. Maintains relationships with key people within the organization. Builds trust and fosters win-win mentality. Demonstrates sensitivity and understanding of relationships by recognizing appropriate opportunities to ask for and/or provide support.
  • Must be able to manage difficult situations and state resolution with confidence. Clearly and directly expresses confidence in own judgment or ability. Deals confidently with complaints, disagreements or conflicts. Maintains confidence and self-control in the face of stress, difficulty or ambiguity. Voluntarily raises concerns when disagreeing with others, but disagrees in an appropriate manner, communicating own view clearly and confidently with supporting rationale, even in conflict. Acknowledges own mistakes and limitations. Appears comfortable and competent when dealing with external contacts.
  • Excellent communications skills both verbal and written. Manages internal and external communications. Selects the method of communication what will get the message across most effectively. Keeps others within and outside the organization informed about changes or issues that may affect them. Minimizes the barriers to communications, communicating information or requests in an effective, concise and timely manner to the appropriate person for action.
  • Must demonstrate empathy when dealing with all internal and external customers.  Understands meaning beyond what is said. Looks beyond immediate behaviors/body language or what is actually said and tries to understand underlying issues or feelings. 
  • Requires flexibility in changing priorities and system and process changes.  Actively seeks alternative views and adapts tactics. Changes own behavior or approach to suit the situation or interact effectively with others. Is curious and enthusiastic when presented with different perspectives, new information or new ways of doing something.
  • Be committed to the bank and MOSE and act on behalf of the bank. Raises concerns to management in a constructive manner when is opposed to departments current direction/goal. Stands by decisions that benefit the whole bank even if they are unpopular or undercut one’s department’s short term goals.
  • Establishes a self development plan that increase competencies in the current role and improve long term goals and capabilities. Independently analyzes likely future requirements, factoring in accurate self-assessment, personal career goals, industry direction and develops an understanding of personal development needs. Takes needed action to proactively pursue plans to improve longer-term personal development.

 

Location(s):  Canada : Ontario : Toronto 

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. We value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.


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