Payouts Administrator

Being a traditional bank just isn’t our thing, so we challenge ourselves to get creative in providing innovative banking solutions for Canadians. How do we get there? With a talented team of inquisitive and agile challengers that break through the status quo. If you’re passionate about redefining the future of banking—while having fun—this could be your next big opportunity.

Our company continues to grow, and today we serve more than 670,000 people across Canada through Equitable Bank, Canada’s Challenger Bank™, and have been around for more than 50 years. Equitable Bank’s wholly‑owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people’s lives.

Our customers have named our EQ Bank digital platform () one of the top banks in Canada on the Forbes Worldwide Best Banks list since 2021.

The incumbent is responsible for all activities related to facilitating payout requests, including the accurate calculation of prepayment charges, preparation of payout statements, and follow-up to obtain full and/or shortfall payout funds.

• Prepare payout statements accurately within the specified turnaround timeframe
• Update prepayment charge reference rates into applicable platforms as required
• Handle inbound phone calls and emails from solicitors, notaries, and financial institutions regarding payout and discharge/assignment inquiries
• Conduct timely follow‑up to obtain all past‑due payout funds. When necessary, reactivate mortgages and initiate collection for outstanding balances
• Diligently complete collection activity to obtain payout shortfalls
• Work with Renewals and Internal Refinance teams to retain mortgages
• Understand and follow policies, guidelines, and procedures

• Experience in managing payout or collections processes (preferred)
• Strong communication skills for handling calls and emails
• Attention to detail and ability to manage multiple tasks within deadlines
• Knowledge of mortgage and financial regulations (advantageous)

• Competitive discretionary bonus 💰
• Market‑leading RRSP match program ✨
• Medical, dental, vision, life, and disability benefits 🩺
• Employee Share Purchase Plan 📝
• Maternity/Parental top‑up while you care for your little one 👶🏽
• Generous vacation policy and personal days 🏝
• Virtual events to connect with your fellow colleagues 🖥
• Annual professional development allowance and a comprehensive Career Development program 🎓
• A fulfilling opportunity to join one of the top Fin Techs and help create a new kind of banking experience 💛

The incumbent will be working hybrid and in‑office time will be spent working from Equitable Bank’s additional office space located at 2200‑25 Ontario Street, Toronto, ON
.

Equitable Bank is deeply committed to inclusion. We support and encourage our staff to grow not just in their career path, but personally as well. We commit to providing a barrier‑free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond.

All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire.

We can’t wait to get to know you!

Not Applicable

Full‑time

Information Technology

Transportation, Logistics, Supply Chain and Storage

Richmond Hill, Ontario, Canada

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