Credit Union Lending Analyst-

3 weeks ago

Toronto, Canada Central 1 Credit Union Full time

Central 1 cooperatively empowers credit unions and other financial institutions to deliver banking choice to Canadians. Central 1 provides critical services at scale to enable a thriving credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than 5 million diverse customers in communities across Canada. For more information, visit www.central1.com.

What we offer:

  • Work-life flexibility
  • Hybrid work environment
  • One-time allowance to set up your office for remote-first employees
  • Variable annual incentive plan
  • Generous annual vacation allotment
  • Top-notch flexible benefits plan including family building and gender affirmation
  • Retirement Plan, matched contributions at 6%
  • Access to a learning platform and educational assistance support
  • Access to a virtual wellness platform
  • Career development opportunities
  • Wellness Flex Fund to support personal interests and activities
  • Day off to volunteer in your community and other paid time off options
  • Corporate discounts

*subject to employment agreement

Job Summary:

As a Credit Union Lending Analyst, you will play a pivotal role in supporting credit union lending by initiating and preparing credit applications, conducting annual credit reviews, maintaining risk ratings for credit union counterparties, and managing the issuance and administration of letters of credit and guarantees. You will analyze financial statements, business plans, and operating environments to assess creditworthiness while monitoring a portfolio of loans, current account activity, and related securities to ensure accurate reporting and risk measurement. In addition to your core responsibilities, you will provide backup support, enhance departmental efficiency, and contribute to delivering exceptional service to our credit union members, ensuring a seamless and high-quality lending experience.

What you’ll be doing:

  • Responsible for the issuance and administration of letters of credit and guarantees. Manage renewals and fees, including working with relationship managers, credit union clients, beneficiaries, and external stakeholders.
  • Assist with the preparation of quantitative and qualitative credit reviews and facility applications and renewals consistent with Central 1’s underwriting standards and regulatory requirements.
  • Support includes obtaining financial statements and all relevant data from the borrowers, analysis, and summation of all documentation and data required to complete a new or renewal credit application. Output will be written memoranda and loan facility transactions.
  • Maintain and enhance a risk rating framework for credit union counterparties, updating and improving the risk rating model.
  • System management: update and maintain tracking and reporting of activity within credit union members’ credit facilities.
  • Monitor daily unauthorized overdrafts and work with borrowers to ensure that all overdrafts have been cleared.
  • Monitor performance of accounts to ensure adherence to conditions and covenants, taking appropriate action to bring accounts into compliance where required.
  • Prepare risk and position reporting to senior management.
  • Provide input as required into the maintenance and revision of Central 1’s policies and procedures.
  • Work with the Manager, Credit Union Lending to improve department efficiency.

What you’ll have:

  • Undergraduate degree in commerce, business studies, economics, finance, mathematics, or another quantitative subject.
  • 3-5 years of experience in commercial underwriting, assessing credit risk, structuring complex loan agreements, and evaluating financial health.
  • Proficiency in MS Office, particularly Excel, and writing macros.
  • Computer modelling skills with the ability to build financial models using spreadsheets and other computer tools.
  • Synthesize and distill information from several written, verbal, and online sources.
  • Well-developed verbal and written communication skills with an emphasis on report writing clearly and logically.
  • Sensitive to the business needs of Central 1 and able to cooperate across departments in a professional, collegial, and respectful manner.
  • Flexibility to responsively meet the business needs of Central 1 and the credit union system, to develop along with the evolution of the unit, and cope in a rapidly changing environment.
  • Accuracy is required in all areas of job responsibility, including loan analysis, the preparation and/or review of credit applications, financial documents, and other related tasks.
  • Strong interpersonal and relationship-building skills that enable successful outcomes when interacting with internal staff, credit unions members, partners, and external parties (lawyers, accountants, etc.).
  • Credit Union knowledge is an asset.
  • Ability to maintain confidentiality due to the sensitivity of information.
  • CFA designation is considered an asset (along with other professional designations).

Salary range: $60,000-$67,000

The salary range represents the job rate determined for the successful candidate who is fully competent in the role. The actual salary will vary depending on market conditions and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training.

Central 1 is an equal opportunity employer and committed to building an inclusive workforce by creating an environment where everyone feels like they belong and has the opportunity to be successful. We welcome all applicants to join our diverse workforce and we will provide an accessible candidate experience including, but not limited to accommodations to interview sites and alternate formats upon request to our Recruitment team.

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