Director, Credit

Director, Credit & Underwriting

Location: Moncton, NB

Employment Status: Permanent, Full-Time

iQ Commercial is Atlantic Canada's leading independent mortgage finance company. We take pride in our expertise, teamwork, and commitment to service excellence. We offer competitive rewards, continuous learning opportunities, and clear pathways for career growth.

The Role

We are looking for a detail-oriented Director, Credit & Underwriting to join our growing Commercial Real Estate division. This is an excellent opportunity for an experienced professional in real estate finance underwriting to thrive in a fast-paced, entrepreneurial environment.

Key Responsibilities

1. Loan Underwriting and Analysis

• Structure and underwrite both conventional and CMHC-insured loans, conducting in-depth creditworthiness assessments.
• Prepare detailed Loan Submissions by gathering essential documents (e.g., rent rolls, financial statements, leases, appraisals).
• Conduct comprehensive loan assessments and develop reasoned recommendations.
• Manage CMHC-insurance applications and ensure compliance with due diligence requirements.
• Propose alternative loan structures to address underwriting challenges.
• In-depth analysis of Sponsors' net worth & liquidity positions.

• Review Commitment Letters outlining loan terms and conditions.
• Set interest rate expectations, funding schedules, assist with Annual Reviews.
• Summarize property details, financial figures, and analysis into concise Loan Summaries for lender review.

• Track local and national market trends (vacancy rates, rental trends, cap rates, etc).
• Build strong relationships with lenders, lawyers, CMHC, appraisers, etc.

• Provide training and mentorship to Junior Underwriters.
• Collaborate with Partners, other Directors, and Vice Presidents on best practices.

What You Bring to the Team

1. Experience

• Minimum 3 years of commercial underwriting experience focused on office, retail, industrial, and multi-unit residential properties.
• Familiarity with CMHC policies and procedures related to multi-unit residential properties.
• Strong knowledge of commercial real estate market trends, transactions, and valuation metrics.

• Expertise in analyzing AACI Appraisals, Environmental Reports, and Energy Efficiency Assessment Reports.
• Advanced financial analysis skills for property evaluation and data compilation.
• Strong organizational and time-management abilities.
• Proficient in Microsoft Office Suite (Word, Excel, PowerPoint).
• Exceptional communication, problem-solving, and decision-making skills.
• Ability to work independently and collaboratively within a team environment.
• Commitment to integrity and accountability.
• Think outside of the box

• Bachelor's degree in business, Commerce, or a related field.

Why Choose IQ Commercial?

• Be part of a dynamic and innovative team.
• Surround yourself with individuals devoted to real estate and their clients.
• Enjoy continuous learning and development opportunities.
• Grow your career with a leading mortgage finance organization in Atlantic Canada.

Join Our Team at iQ Commercial