Mortgage Retention Specialist

Job Details

Job Type: Full-Time

Vacancy Status: This posting is for an existing vacancy

Target Salary Range: $60,000-65,000

The compensation for this position is determined by a combination of skills, experience and is aligned to the Market in which the job is posted. Your recruiter will provide additional details about our total rewards package during the hiring process.

Scope of Position

The Mortgage Retention Specialist supports Alterna’s Retail division by providing its membership with excellence in service and advice pertaining to residential mortgage financing and where possible identifies opportunities for referrals to its retail division for personal loans, locs, account packages, investment and wealth management products and services.

The mortgage Retention Specialist is responsible for the entire mortgage renewal journey with a goal of retaining and growing the mortgage business. They are responsible for outreach and connection of their book of business with a goal of upselling identifying additional opportunities and deepening member relationships.

Major Responsibilities

• Responsible for ensuring retention of existing mortgage business within a specified target rate
• Shall adhere to established risk management practices throughout the mortgage renewal and retention process. This includes assessing member circumstances for financial suitability, ensuring compliance with regulatory requirements, and escalating any identified risks
• Ability to up sell and cross sell through opportunity spotting additional member solutions including credit, investment and banking products and services and achieving assigned sales targets
• Accountable for ensuring mortgage business remains with Alterna by negotiating and offering competitive rates
• Excellent understanding of all Alterna credit and deposit products
• Provides mentoring/guidance to branch retail staff to assist them with closing the member solution
• Subject matter expert in loan and mortgage solutions with strong knowledge of industry and competition
• Completion of the monthly mortgage renewal lists including automatic renewals as well identifying opportunities to increase member mortgage balances by assisting members with residential mortgage refinancing requirements.
• Effective management of member requests for mortgage payouts and mortgage information
• Understands and adheres to all regulatory and audit requirements
• Work in collaboration with Retail Division, Business Development,
• Provides education and advice to members on transactional banking and investment and credit situations

Expectations / Outcomes

• Sales plans are achieved through identifying additional needs and referring to the appropriate banker.
• Targets and goals achieved as per annual performance agreement.
• Provides exceptional member experience with each interaction
• Willing to work flexible hours that may include evenings (to 8:00pm) and Saturdays

Education/Certifications/Experience

• Bilingual (English & French) Preferred
• Post-secondary education and related experience in a financial institution
• Experience in a member service-related position at Alterna Savings or at another financial institution
• 5 years of credit granting/recommending experience for loans, lines of credit and residential mortgages
• Experience and knowledge of the mortgage brokerage industry
• Proven sales experience

Knowledge / Skills / Competencies

• Excellent analytical and creative problem-solving skills to systematically identify analyze and resolve complex member issues/problems
• Effective interpersonal, communication and teambuilding skills
• A commitment to excellence in the delivery of member/client service
• Ability to identify opportunities for sales and referrals
• Ability to work independently, professionally and under pressure
• Developed writing skills sufficient to communicate detailed factual information to members and various department or partners
• Extensive knowledge of processing and procedures loans and mortgages
• Sound lending judgment
• Sound knowledge of CMHC and Genworth guidelines
• Sound knowledge of various computer applications including Excel, Word, Wealthview
• Proficient use of financial planning calculators
• Share knowledge with peers and call upon others’ knowledge and experience as required
• Expert knowledge of Mortgage products, payments

About Alterna Savings

Alterna Savings and Credit Union Limited (Alterna) has delivered The Good in Banking for over 115 years creating financial services that transform lives for the better, all while giving back to our community. Alterna is made up of Alterna Savings and Credit Union Limited and its wholly owned subsidiary, Alterna Bank.

Alterna is the first full-service, member-owned cooperative financial institution outside Quebec, sharing its expertise with over 210,000 members through a network comprised of 40 branches across Ontario, a call centre and multiple digital channels. Members and customers also benefit from an industry-leading online brokerage and investment management services.

To learn more about Alterna Savings, please visit alterna.ca, X, Facebook, Instagram, or LinkedIn.

Working at Alterna

We are incredibly proud of our corporate culture, embodying our core values: Collaboration, Integrity, and Respect, where everyone works together towards a common goal; the financial wellbeing of our employees, members, and customers. This commitment has earned us several prestigious employer awards, including the National Capital Region's Top Employers award for eight years running.

• We appreciate all applicants; however, preference will be given to candidates who most closely meet the qualifications, key skills, and competencies outlined above.
• Alterna is compliant with the Ontarians with Disabilities Act and our team strives to provide an accessible accommodation experience. If you have a disability and require accommodations during the recruitment process, please contact our Recruitment Team and let us know how we can accommodate you.
• Alterna does not currently use Artificial Intelligence (AI) to screen, assess, or select applicants