Director, Commercial Financing
4 weeks ago
We are hiring a Director in our Commercial Financing department
**The Role**:
**Reporting To**: Assistant Vice President, Commercial Financing
**Full-Time/Part
- Time**: Full-time
**Salary Range**: $94,902 - $161,333
**Posting Date**: January 31, 2024
**Closing Date**: February 14, 2024
**Hours of Work**: 8:30 a.m. - 5:00 p.m.
**Grade**: 18.2
**Office Location**: Vancouver BC Great location Steps away from the main public transit station
**What we offer**:
Highly competitive compensation package which includes, base salary, bonus, benefits, and career advancement opportunities
- Eligibility for benefits is dependent on the terms of employment
**What you will do**:
- Support the Assistant Vice President in developing and expanding the client base, while increasing income and company profit
- Ability to transactions from start to finish and problem solve through any complex matter.
- Work directly with clients and prospects to gather due diligence, advance relationships and recommend appropriate mortgage solutions
- Make decisions on advancement of loan opportunities, complex structuring and credit
- Analyze financial information on commercial properties including rent rolls, operating statements and financial/net worth statements, to assist management in determining the appropriate loan size, terms, conditions and pricing
- Review third party reports including appraisal, phase I/II environmental reports and engineering reports, to determine compliance with investor requirements, product lending and guidelines and loan terms and conditions
- Review conditions and exception requests and prepare recommendations to credit/investors. Ensures that underwriting procedures are in force at all times and senior management authorizes any exceptions
- Prepare loan summary including financial analysis and credit documents to assist in the loan approval process
- Coordinate with Funder, Investor, Legal, and other third-party consultants to ensure loan conditions are met
- Coordinate with clients and prepare Letters of Interest and Commitment Letters along with managing information flow to ensure smooth loan transactions
- Develop and analyze construction/development pro-forma as of various multi-unit housing type projects
- Monitor on-going construction loan draws, cross-referencing budgets, and ensuring applicable undertakings are performed
- Monitor pending and approved loans and any corresponding fees which includes a review of any fees currently on deposit with First National
- Assist from time to time in preparation for prospect and existing client meetings
- Assist in training and mentorship of other team members
- Perform other duties as necessary to support the goals and objectives of the commercial mortgage division
- Act as a resource and share knowledge amongst the entire commercial finance group
- Demonstrate a high degree of confidence when making/approving recommendations
- Demonstrate a high degree of knowledge regarding available market capital and its requirements and pricing
- Adhere to policies/procedures to ensure AML requirements are met, when applicable
**The Requirements Needed**:
- Experience in commercial real estate lending is a must
- Undergraduate Degree and/or MBA with focus in a Finance/ Real Estate related discipline
- 8 - 10 years’ experience in a relative commercial real estate role
- Knowledge of applicable real estate lending regulations is a must
- Experience in financial analysis (i.e. balance sheet, income statement)
- Organizational skills to manage several ongoing and competing tasks simultaneously
- Experience communicating with clients, appraisers, engineers, lawyers, consultants, investors and/or credit committees is a must
- Strong understanding of legal documentation, ownership structures and AML requirements
- Preferred experience in CMHC and/or construction finance, development industry, private equity, cost consulting, or accounting with a commercial mortgage focus
- Familiarity with principles of property valuation and the construction process
- Advanced PC skills, with an emphasis on Word and Excel
- High degree of consistent accuracy and attention to detail
- Able to work with minimum supervision
- Results oriented and highly motivated self-starter
- Bilingualism (French, English) an asset
Why join First National?
- Supportive teamwork focused environment
- Collaborative entrepreneurial spirit
- Extensive training programs to set our employees up for success
- Bright open concept office environment
- Large kitchens with a coffee and latte maker to enjoy at no cost
- Opportunities to give back to the communities and work through events focused on a variety of charities
- Ongoing social events throughout the year
**The team you will join**:
Founded in 1988, First National is one of Canada’s largest non-bank lenders. We provide residential mortgages exclusively through our mortgage broker channel and service commercial clients through our national origi
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