Commercial Manager

3 months ago


Halifax, Canada iNova Credit Union Full time

Reporting to the General Manager, the Manager, Commercial Lending is responsible for the development and prudent management of credit union’s commercial loan portfolio. The incumbent directs and controls the commercial lending activities including account administration, credit extension, and business development functions in accordance to established policies and procedures and regulatory requirements.

**Specific Accountabilities**:

- Manages the daily activities of the commercial loan function including commercial credit, asset quality, and financial counseling.
- Develops and recommends new or revision of existing commercial loan policies, programs, products and procedures to best meet member service and organizational goals. Develops and documents sound commercial lending practices consistent with policy, industry standards, and customer service expectations.
- Reviews and analyzes commercial loan performance and prepares operating reports.
- Provides input into the credit union’s strategic plan and design and implements the Commercial Lending departmental plan and objectives. Develops and manages the annual department plan and operating budget.
- Keeps abreast of new developments in the field of commercial loans and changing government regulations, ensuring that the lending staff is kept informed.
- Participates in community events to increase the credit union’s visibility and to enhance new business opportunities.
- Interviews member to gather sufficient information to determine client needs. Analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting a loan. Approves or declines loan within approved lending limits or refers to the next higher approving position level with recommendations.
- Complies loan package and negotiates loan structure with applicant, including rates, terms repayment options, and other credit terms. Ensures loan agreements are complete and accurate according to policy and regulatory requirements are security is place prior to the disbursement of the funds. Ensures timely loan closing and disbursement of funds.
- Analyzes potential lending and deposit opportunities involved in each situation to further assist borrowers as well as increase the credit union’s lending and investment portfolios. Up sells Merchant Mastercard business expense cards. Canada Small Business Financing and Nova Scotia Small Business Financing/Loan Guarantee Program as well as referrals to partners and branches to grow personal business. Cross sells borrowers on the benefits of utilizing other credit union services.
- Monitors delinquency and account overdraft activity to ensure accounts operate within the limits and qualify from a risk standpoint. Ensures appropriate action is taken to minimize losses to the credit union.

**Minimum Hiring Qualifications and Experience**:
The Manager, Commercial Lending will have successfully completed a Bachelor’s Degree with an emphasis in Business Administration or Commerce plus have at least five years lending experience (with an emphasis in Commercial Lending) in a financial institution; or equivalent combination of training and experience in credit management.

**Our Offer**:

- Competitive compensation ($81,438 - $96,986 annually) to commensurate with education and experience.
- Generous benefits package including Flexible Health and Dental Plan (cost shared with employer)
- 6% contribution in a Defined Contribution Pension plan (employer contributes 9%)
- Additional perks include but not limited to an annual wellness credit, staff rates on employee loans and mortgages
- Vacation entitlement to be determined based on experience with a minimum of 3 weeks, up to 4 personal days and a flexible work environment

Applications will close on **October 18th, 2024**

Pay: $81,438.00-$96,986.00 per year

Schedule:

- Monday to Friday

**Education**:

- Bachelor's Degree (preferred)

**Experience**:

- commercial lending: 5 years (required)

Work Location: In person

Application deadline: 2024-10-18


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