Director, Commercial Credit, CMHC

4 months ago

Old Toronto, Canada Equitable Group Full time
p>Join a Challenger

Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. Overall we serve more than 370,000 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 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform (eqbank.ca) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.

The Work

The Director, Commercial Credit is responsible for all credit underwriting and portfolio management aspects of the Commercial division’s Multi-family Insured lending group (CMHC). The incumbent will lead a team comprised of Managers, underwriters, and analysts in the prudent underwriting of $8 billion annually of CMHC-insured multi-family loans located in markets throughout Canada. p>

Key responsibilities include establishing and overseeing procedures to ensure that credit risk is thoroughly assessed and within the Bank’s risk appetite. The Director will manage, supervise, and mentor the CMHC Credit team to ensure individual responsibilities are completed in accordance with Company policies, procedures, and priorities. Along with the CMHC Credit Managers, the Director will manage credit flow, approve, or recommend insured mortgage facilities according to assigned delegation of authority and ensure that the portfolio is being proactively managed and operating within prescribed thresholds.

In addition, the Director will champion the Bank’s goal of delivering a superior customer experience by proactively engaging senior management to address issues as they arise while ensuring that team members complete underwriting assignments quickly and efficiently.


The core parts of your role would be to:
  • Provide support, guidance and ongoing training to department managers and staff, identifying their specific needs and devising plans to ensure all staff are adequately trained.
  • Ensure compliance with the company’s established policies and procedures.
  • Adjudicate CMHC-insured credit facilities (i.e. new deals, mortgage renewals, assumptions, and annual reviews) ensuring the request falls within the Company’s lending and regulatory requirements and is in compliance with the Company’s delegated authority limits.
  • Continuously identify and implement improvements to processes to increase department efficiencies, improve customer service levels, and ensure ongoing compliance with risk and regulatory requirements.
  • Oversee ongoing, timely completion of regular reporting for senior levels of management, including but not limited to: Commercial Dashboard, exception to policy tracking, KPI/KRI reporting, and securitization reporting.
  • Assist with department projects or company initiatives, where needed.
    • Post-secondary education (diploma/degree) in business or finance, MBA/CFA preferred.
    • Have a minimum of 10 years multi family-insured/commercial mortgage experience with a minimum of 3-5 years of management experience.
    • Highly developed verbal and written communication skills with the ability to communicate to Senior Management, Partners, and Borrowers in a clear, concise, and professional manner.
    • Advanced technical knowledge of commercial lending, financial statement analysis and factors affecting the Canadian commercial lending environment.
    • Possess a detailed understanding of macro factors affecting the CMHC-insured multi-family lending environment with an ability to understand, anticipate and react accordingly, to changing factors.
    • Demonstrated service excellence within their field.
    • In-depth knowledge of AML/ATF regulations and Corporate/Legal documentation for commercial real estate in multiple jurisdictions across Canada.
    • Strong organizational and time management skills.
    • Proficient in MS Office.

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