Manager, Commercial Lending
3 weeks ago
**Job Title**: Manager, Commercial Lending
**Department**: Credit Underwriting & Reporting Dept.
**Reports to**: Vice-President, Credit
**Job Summary**
The Manager, Commercial Lending is responsible for the underwriting commercial loans that are originated by the branches. The Manager, Commercial Lending provides advanced level support to the members of the Adjudication Committee and the Loan Committee by structuring, underwriting, conducting in-depth assessments of credit worthiness and loan quality. General duties involve analysis of income verification documents, financial and operating statements, and other necessary due diligence items in order to manage the credit risks and provide feedback on credit quality to lending authorities. The Manager, Commercial Lending also resolves loan funding issues in partnership with the branches.
**Responsibilities And Duties**
**Preparation of Loan Documentation for assigned deals**
- Obtain all relevant information (e.g. income documents, credit report, rent roll, financial statements, invoices, property management contract, leases, appraisal, environmental site assessment, building condition assessment, etc.) required to complete in-depth loan analysis.
- Review appraisal, environmental site assessment and building condition assessment reports and opine on any issues.
- Summarize all property details, figures and analysis into a loan approval packages to be circulated to Loan Committee for review and approval
- Complete underwriting for both residential and commercial loans supported by appropriate due diligence and a well-reasoned recommendation.
- Take a solution focused approach to underwriting by offering alternative structures and/or funding conditions as appropriate.
- Review credit packages prior to submission for policy compliance, structural soundness and credit weakness
- Follow up and help resolve any loan funding or asset management issues
- Research and maintain records relating to market conditions (e.g. vacancy rates, rental rates, cap rates, property values)
**Monitoring and Annual Reviews**
- Perform an annual credit review for all commercial borrowers and ensure that financial statements are received on an annual basis
- Monitor all financial covenants in accordance with credit agreement.
- Prepare diverse reports as required by VP of Credit
**Skills And Qualifications**
- Undergraduate degree in Business, Finance or Account, etc.
- Relevant professional certifications, designations or equivalent education is preferred.
- Thorough knowledge of the bank’s loan policy/guidelines and the regulatory (OSFI) requirements.
- Ability to understand and analyze commercial and residential appraisal reports.
- Strong knowledge of loan-related legal terms and documentations.
- Ability to conduct in-depth financial and collateral analysis in accordance with the lending guidelines.
- Working proficiency in Microsoft Excel & Word.
- Strong interpersonal skills to communicate with branch employees and member of the loan committee.
- Strong time management skills to review and present the assigned deal within the established deadline.
**Job Types**: Full-time, Permanent
**Salary**: $60,000.00-$80,000.00 per year
**Benefits**:
- Company pension
- Dental care
- Life insurance
- Vision care
Flexible Language Requirement:
- French not required
Schedule:
- Monday to Friday
Ability to Commute:
- North York, ON M2N 6K1 (required)
Ability to Relocate:
- North York, ON M2N 6K1: Relocate before starting work (required)
Work Location: In person
Application deadline: 2024-03-09
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