Underwriter (Commercial Loans)
3 weeks ago
IO’s Finance, Technology, and Lending Enterprise Team ensures that IO is a financially efficient and effectively managed organization and that the agency’s finances are monitored, reported, and managed appropriately. The team also manages the infrastructure lending program, which has supported more than $19 billion in local infrastructure development, and IO’s Information Technology and Business Services, providing tools and systems to ensure secure, effective, and efficient operations.
**What You Will Do**:
- Perform a complete review of the applicant’s business case, financial history, project risks, management and governance, existing debts and legal structures for complex or large loans.
- Provide credit structuring guidance in loan structuring and portfolio management deliverables, both within the team and with partner teams.
- Perform financial modelling, including downside scenario analysis.
- Develop loan term sheets and review final loan agreements in collaboration with Legal partners.
- Manage complex loans and loans in difficulty.
- Interact with Customer Relations, Loan Operations and Legal in the execution of new loans or on-going loan portfolio management, including conducting due diligence, reviewing legal documentation and making recommendations on loan structures for presentation.
- Conduct interviews with internal and external clients during the due diligence process.
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Implement and execute the credit risk management framework and policies**:Implement and execute the credit underwriting framework and policies including adherence to credit limits and controls, efficiency, and customer satisfaction.- **Monitor borrowers’ financial standing, credit risk and loan covenant compliance**:
- Monitor financial performance of existing borrowers and ensure their compliance with applicable loan covenants.
- Review, check and test financial covenants and ratios to ensure borrower compliance. For construction phase loans, assess Conditions Precedent including financial criteria in connection with the conversion to long-term debentures.
- Perform annual reviews on a portfolio of loans to ensure adherence to Infrastructure Ontario’s policies and established risk tolerance limits
- Compile research and prepare sector briefing notes on emerging issues, new and existing sectors/credit market topics, as required.
**What We’re Looking For**:
- Direct credit risk and commercial lending transaction experience, preferably in commercial real estate and/or project finance, non-profit sector, municipal and infrastructure lending.
- Credit risk certification is an asset.
- Expertise in underwriting principles and loan agreements, with sound knowledge of credit risk measurements, assessment, and methodologies.
- Strong knowledge of cash flow lending, credit analysis, control systems and processes.
- Strong analytical and business risk assessment skills, including the ability to conduct financial statement and ratio analysis.
- Ability to coach and mentor others in a collaborative environment.
**What's in It For You**:
- Commitment to creating a diverse, equitable and inclusive culture that promotes a sense of belonging and represents and reflects the needs of the communities we serve.
- A flexible, hybrid work approach that allows colleagues to find balance between their professional and personal lives and making the most of the benefits of working remotely and purpose-driven in-person collaboration opportunities.
- A defined contribution pension plan, where IO contributes the equivalent of 5% of a full-time employee’s annual salary, with an option for IO to match an additional 2.5% contribution made by the employee. IO also offers a Group Retirement Savings Plan and Group Tax Free Savings Account, designed to help IO colleagues plan and save for their future.
- A comprehensive package that covers health, dental, vision, out-of-country care, paramedical services, and more.
- A pregnancy and parental leave program that offers expecting, eligible employees a top-up to 93% of their annual base salary for 31 weeks, and our parental leave program offers eligible employees a top-up to 93% of their annual base salary for 15 weeks.
- Access to our $500 Healthcare Spending Account to top up expenses not covered in the benefits program and a Lifestyle Account that expands the eligibility of health and wellness options and can include coverage for gym memberships and fitness equipment, nutrition counselling or financial planning.
- Support for professional development opportunities for all colleagues through a broad range of learning programs that include in-person and online training, leadership development, and support for colleagues’ well-being. IO will also cover the costs associated with up to two membership and licence fees per year for eligible colleagues if directly related to the employee’s role.
- Access to a suite of virtual healthcare options to support non-urgent medical needs
- A conv
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