Underwriter, Commercial Real Estate

7 months ago


Toronto, Canada Vancity Community Investment Bank Full time

**About Vancity Community Investment Bank**

Vancity is the largest private sector Living Wage Employer in Canada and has been consistently recognized as one of the Top Employers in Canada. Come join our team of 2,600 diverse individuals and access competitive rewards & benefits, all while knowing you are a part of a greater movement.

This position is based at Vancity Community Investment Bank (VCIB), an Ontario-based subsidiary of Vancouver City Savings Credit Union (Vancity). As Canada’s first values-driven bank, VCIB provides banking, investing, and financing solutions to help purpose-driven businesses and organizations create, grow and foster change. At VCIB, we embrace your strengths and your ambitions, so you feel empowered at work. We need talented, passionate professionals who are dedicated to using finance as a force for good and doing what’s right for our clients.

**About the workplace**

As an Underwriter on the Commercial Real Estate team, you will play a critical role in growing and managing the portfolio of loans to values aligned social purpose real estate projects, including (but not limited to) term and construction financing of market rental housing, affordable housing, green buildings, and community spaces. You will join a small, diverse team of entrepreneurial, purpose-driven individuals, and will contribute and develop your expertise in credit underwriting and portfolio management with a specialized lens on real estate finance.

**A typical day will involve**:
The Underwriter, Commercial Real Estate will provide expertise to support the growth and administration of VCIB’s commercial mortgage business. You will be responsible for supporting the origination team on new transactions, renewals and annual reviews ensuring the adherence of commercial credit policy, standards and guidelines, and while fostering a culture of respect, trust and integrity.

**How You’ll Succeed**
- Complete underwriting analysis of commercial mortgage transactions for term and construction facilities including detailed analysis of the real estate security, borrower and loan terms to ensure all files meet industry and company regulatory requirements.
- On each transaction, assess suitability, review risks, complete due diligence requirements on commercial mortgage transactions in accordance with the company’s risk appetite.
- Prepare and issue commitment letters, amendments, renewals and other client facing documents outlining all conditions that must be met to the company’s satisfaction and according to negotiated and approved terms.
- Maintain consistent, objective and sound risk assessments in a service-oriented environment.
- Provide guidance and decision making support to the origination teams to solve problems.
- Work effectively with colleagues across teams to improve underwriting systems to maximize effectiveness and achieve excellence.
- Complete loan renewals and annual reviews.

**You Are**:

- **A problem solver** - You have an analytical mind and can multi-task to come up with solutions
- **A great communicator** - You find it easy to get to know others and have great conversations
- **Ready for a challenge** - You have a positive attitude and are able to work in a fast-paced changing environment
- **Resourceful **- You understand and utilize the network of resources available to you and can independently formulate appropriate solutions for your members
- **A strong relationship builder**:

- You find it easy to get to know others and build trust

**You Have**:

- Bachelor's degree and/or Master’s degree in business, economics, finance or related field
- Minimum of 3 years real estate financing or related experience
- Knowledge of the Ontario commercial real estate market, and experience and/or strong interest in advancing social purpose and sustainable real estate
- Strong interpersonal and writing skills
- Experience in commercial credit underwriting and evidence of strong business and financial analytical skills
- Strong English communications skills (oral and written)
- Business banking experience is an asset

**Posting Deadline: Posted until filled**

**We offer**:

- We are the largest private-sector Living Wage Employer in Canada and have been consistently recognized as one of the Top Employers in Canada
- Our permanent employees qualify for attractive benefit packages that can be customized and changed each year to meet their evolving needs
- New employees receive between three and four weeks of vacation allowance per calendar year, and the number of vacation days grows — to a maximum of six weeks per year — as their length of service increases. In addition, full-time, permanent staff can purchase up to six extra days of vacation through our flexible benefits package.
- In addition to the 10 statutory holidays in British Columbia, Vancity provides an additional three statutory holidays. We offer care days for periods of short-term personal illness or emergency family illnes



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