Credit Officer

5 months 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


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
- Retirement Plan, matched contributions at 6%
- Access to a learning platform and educational assistance support
- Career development opportunities
- Wellness Flex Fund to support personal interest and activities
- Day off to volunteer in your community and other paid time off options
- Corporate discounts

Job Summary:

- Job Description- What You’ll be doing:
- Analyze financial statements, review 3rd party reports such as building condition, environmental site assessment, Project Monitor, review of commercial/office leases and Agreements of Purchase & Sale and & financial risk, and business plans necessary to establish credit worthiness of the borrowers.
- Manage the annual review process, for a designated group of borrowers, including obtaining financial statements and all relevant data from the borrowers directly or from our credit union members.
- Support to the Regional Managers, Directors and/or AVP, Commercial Real Estate Lending in building relationships with credit unions, other financial institutions, and borrowers, to meet or exceed Central’s sales and revenue objectives while improving the overall customer satisfaction ratings of the Commercial Real Estate Lending Department.
- Manage the receipt of monthly reports from the borrowers and submit reports to Risk Management as required.
- Monitor performance of accounts to ensure adherence to conditions and covenants, taking appropriate action to bring accounts into compliance where required.
- Liaise and follow up with credit union members and other lending partners for loan maturity renewal options, including discussions on renewal fees and interest rate spreads while working towards established interest margin goals, as set annually.
- Maintain an open dialogue with credit union members and their membership, where applicable, to ensure appropriate credit risk standards are maintained and continue to reflect the changing business circumstances and risk appetite of both Central and its members.
- Ensure annual review, late reporting and other sundry fees are collected.
- Recommend and provide advice to individual credit unions regarding their members’ loan requirements.
- Attend meetings with their members, where applicable, either on the phone/virtual or in person, to develop workable credit solutions either for new credit relationships or for restructuring existing credits.
- Assist the Commercial Real Estate Lending Department with special projects and assignments both as outlined within agreed upon Annual Goals and/or as the need arises. Perform other duties as required.
- Extended hours, together with some travel, may be occasioned by member/credit union lenders requests for new loans and credit reviews. Additionally, travel may be occasionally required to make presentations to users and to attend courses and conferences.
- What you'll have:
- A college or university degree in finance or a related field - business administration, accounting, economics, or equivalent work experience.
- 2+ years’ experience in credit granting and portfolio management in the small to medium size commercial loan market.
- Possess a good understanding and comfort level in dealing with all phases of real estate finance (development, construction, and mortgage takeout financing) in addition to business financing structures.
- Demonstrated ability to analyze credit risks and make considered recommendations based on interpretation of results, sound business judgement, relationship considerations and market factors present at the time.
- Excellent client service ethic. Able to set and deliver service to clients that meet their expectations.
- Able to deal with complex and difficult client situations in a diplomatic and professional manner.
- Able to persuade, through negotiation, a desired outcome that satisfies all parties’ needs and meets Annual Goals.
- Approach tasks in a collegial and co-operative manner.demonstrate a significant degree of tact and discretion and be capable of interacting at many different levels, including borrowing clients, senior lenders, management, peers, and co-workers.
- Well-developed verbal and written communications skills.
- Strong interpersonal and relationship building skills that enable successful outcomes when interacting with internal staff, credit

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