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 Senior Counsel, Mortgage Lending is the organization’s primary legal authority on residential mortgage lending, including origination, underwriting, secured lending structures, consumer protection, and end‑to‑end mortgage lifecycle governance. This role delivers strategic, pragmatic legal guidance that enables safe, compliant, and commercially successful mortgage operations across Canada.
A secondary but critical component of the role is meaningful exposure to financial services regulation, including OSFI expectations, FCAC oversight, AML/ATF obligations, the Bank Act, and provincial consumer protection regimes.
The Senior Counsel ensures compliance with all applicable laws, supports regulatory examinations, interprets legal requirements, and partners closely with mortgage product, underwriting, servicing, risk, and executive leadership to balance legal risk with operational execution and business growth.
MAJOR ELEMENTS OF THE ROLE:
Provide authoritative legal guidance on residential mortgage origination, underwriting, adjudication, and enforcement.
Advise on mortgage product design, modification, innovation, and implementation.
Assess interest rate structures, penalties, prepayment privileges, portability, and related features.
Review and ensure enforceability of mortgage structures across all provinces.
Oversee governance of mortgage forms, credit agreements, renewals, amendments, assumptions, and enforcement documentation.
Review and approve customer‑facing disclosures for accuracy and compliance.
Lead legal review of agreements with brokers, appraisers, title insurers, technology vendors, and other third parties.
Provide legal interpretation of OSFI guidelines (including B‑20), the Bank Act, provincial mortgage and consumer protection laws, PIPEDA, and AML/ATF obligations.
Support regulatory reviews, examinations, remediation, and policy enhancements.
Advise on fair lending, disclosure requirements, complaint‑handling, and regulatory expectations.
Provide legal guidance on credit and operational risk, enforcement strategy (power of sale, foreclosure, litigation), and escalated customer matters.
Advise on regulatory investigations and novel or exception‑based transactions.
Engage external counsel, title insurers, and other third parties as needed.
Key Internal & External Stakeholders:
Mortgage Product • Underwriting & Funding • Fraud • PF Servicing • Risk Management & Compliance • Executive Leadership • External Counsel & Regulators
SKILLS AND EXPERIENCE REQUIRED:
15 years of legal counsel experience
Deep knowledge of Canadian financial services and mortgage lending.
Expertise in secured transactions, property law, and consumer protection.
Strong ability to interpret and apply regulatory expectations (OSFI, FCAC, provincial rules).
Ability to balance legal risk with business needs and provide practical, business‑aligned advice.
Strong analytical judgment, issue‑spotting, and decision‑making skills.
Ability to communicate complex legal concepts clearly to non‑lawyers.
Proven leadership skills, including mentoring junior counsel.
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 (for eligible employees)
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:
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Chip.ca
Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.
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What We Do
HomeEquity Bank is a Schedule I Canadian bank and is the only provider exclusively focused on reverse mortgages for homeowners aged 55 and over. HomeEquity Bank is a privately held company and helps Canadians live retirement their way by providing a safe, secure, and easy way to access the equity they’ve built up in their homes through their financial solutions, the CHIP Reverse Mortgage® and Income Advantage®. HomeEquity Bank has been the leader of reverse mortgages in Canada since its inception in 1986. HomeEquity Bank has an effective direct-to-consumer distribution model as well as a well-established network of referral partners. This extensive partner network includes all major Canadian banks, credit unions, mortgage brokers, and financial planning firms.
