22 Jan
HomeEquity Bank
Old Toronto
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
The Director Operational Effectiveness is responsible for leadership and oversight of strategic initiatives aimed at enhancing operational efficiency (cost focus) and effectiveness (risk focus) with adherence to the Risk Appetite of the Bank. This covers all Operations Business Units including Credit Adjudication, Funding & Fulfillment, and Mortgage Servicing & Default Management. This role will be pivotal in driving continuous improvement culture and efforts to build process and operational excellence through the application of lean methodology and other best practices.
The role will also be responsible:
- Quality Assurance, Training & Developments programs, and delivery of sustainable change through Knowledge Management (Resource Documentation & Policy & Process Centre).
- Business Intelligence and Reporting to optimize performance management across Operations and to support and align to the strategic goals of the Bank.
- Enablement and active participant in the Bank’s Automation & Digitization strategy
As part of operational and organizational excellence, the position plays an important role within the Bank and requires a deep understanding of credit underwriting, mortgage subject matter expertise, operations and risk management, and regulatory compliance to effectively execute. This includes a key role in the Risk and Sales Management practices of the business as it relates to full adherence to the Bank’s policies and procedures and regulatory requirements.
The role fosters a collaborative relationship with the Bank’s other departments within Operations, Customer Strategy & Design, Sales and Marketing, Risk, Technology and Project Management. The role must lead by example and ensure healthy,
effective relationships within the Bank with an overarching focus on maximizing Customer and Employee experience to achieve the objectives of the Bank.
Direct reports will include a Senior Manager Operational Effectiveness with oversight of both a Quality Assurance team for all Operation Business Units and a Deal Support function, and a Manager Business Intelligence, including respective roles under both reports.
MAJOR ELEMENTS OF THE ROLE
Key accountabilities of this position include:
- Develop strategies to improve operational processes and enhance overall efficiency.
- Collaborate with senior leadership to align operational initiatives with the bank's strategic goals
- Oversee execution of key operational initiatives; ensure timely and effective implementation.
- Collaborate with relevant Operation teams to optimize the reverse mortgage process End-to-End from Adjudication to Default Management
- Leverage Front to Bank Methodology to integrate front-end customer interactions with back-end process to improve Customer Experience to best in class. Lead &/or be an integral part of cross-functional teams to drive strategic projects and initiatives
- Foster a culture of continuous improvement across the organization; leverage performance metrics to Identify and prioritize opportunities for process optimization and cost reduction.
- Solid understanding of key processes and policies from Adjudication through to Default Management to support continuous process improvement culture
- Implement lean methodology to streamline processes, reduce waste, and enhance productivity; evolve to a maintenance & oversight function ongoing.
- Establish and oversee a Quality Assurance team to serve as the first line of defense for Operations; ensure team conducts reviews and assessments maintain high standards of quality and compliance.
- Strong stakeholder engagement to gather insights and feedback on operational processes; and effective communication strategy to communicate progress and outcomes of initiatives
- Lead, mentor, and develop a high-performing team of operational excellence professionals.
- Promote a collaborative and inclusive work environment.
- Set clear performance expectations and provide regular feedback and coaching.
- Evolve a comprehensive business intelligence strategy to support data-driven decision-making to maximize productivity including throughput,
capacity management and quality of performance.
- Oversee the creation and maintenance of dashboards and reports to track key performance indicators (KPIs) & metrics. Analyze data to identify trends, insights, and opportunities.
- Develop protocol for executive updates on performance against KPIs and strategic goals.
- Develop processes/ systems for queue management and report on deal status efficiently.
SKILLS AND EXPERIENCE REQUIRED
Qualifications & Attributes:
- Bachelor’s degree in business administration, Operations Management, or a related field; MBA or equivalent advanced degree preferred.
- Minimum of 10 years of experience in operational effectiveness, strategy, or a related role, preferably within the financial services industry.
- Experience with Automation & Digitization in Banking or related educational equivalent
- Proven track record of leading successful operational improvement initiatives.
- Strong knowledge of lean methodology and continuous improvement principles.
- Excellent analytical, problem-solving, and decision-making skills with ability to work in a fast-paced environment.
- Exceptional leadership, relationship building, team management and communication abilities.
- Strong subject matter expertise in Mortgages & Credit Adjudication
- Past Branch Banking and or direct Customer experience is an asset
Working Conditions Unique to Job
- Hybrid working 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:
LinkedIn
Youtube
Facebook
Twitter
Instagram
Chip.ca
Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.
Other details
- Job Family Non-sales
- Pay Type Salary
Impress this employer describing Your skills and abilities, fill out the form below and leave Your personal touch in the presentation letter.