Director, Commercial Credit, Cmhc
7 months ago
**The Work**
The Director, Commercial Credit is responsible for all credit underwriting and portfolio management aspects of the Commercial division’s Multi-family Insured lending group (CMHC). The incumbent will lead a team comprised of Managers, underwriters, and analysts in the prudent underwriting of $8 billion annually of CMHC-insured multi-family loans located in markets throughout Canada. In addition, the incumbent will be responsible for, and provide oversight of, a $20 billion portfolio of insured multi-family product.
Key responsibilities include establishing and overseeing procedures to ensure that credit risk is thoroughly assessed and within the Bank’s risk appetite. The Director will manage, supervise, and mentor the CMHC Credit team to ensure individual responsibilities are completed in accordance with Company policies, procedures, and priorities. Along with the CMHC Credit Managers, the Director will manage credit flow, approve, or recommend insured mortgage facilities according to assigned delegation of authority and ensure that the portfolio is being proactively managed and operating within prescribed thresholds.
In addition, the Director will champion the Bank’s goal of delivering a superior customer experience by proactively engaging senior management to address issues as they arise while ensuring that team members complete underwriting assignments quickly and efficiently.
**The core parts of your role would be to**:
- Provide support, guidance and ongoing training to department managers and staff, identifying their specific needs and devising plans to ensure all staff are adequately trained.
- Ensure compliance with the company’s established policies and procedures.
- Adjudicate CMHC-insured credit facilities (i.e. new deals, mortgage renewals, assumptions, and annual reviews) ensuring the request falls within the Company’s lending and regulatory requirements and is in compliance with the Company’s delegated authority limits.
- Develop, implement, and maintain production and service metrics to measure and support best-in-class turnaround times on completion of underwriting tasks with a goal of exceeding customer service, accountability, and transparency targets.
- Continuously identify and implement improvements to processes to increase department efficiencies, improve customer service levels, and ensure ongoing compliance with risk and regulatory requirements.
- Communicate and co-operate with internal and external parties providing optimum service to maintain long standing relationships.
- Oversee ongoing, timely completion of regular reporting for senior levels of management, including but not limited to: Commercial Dashboard, exception to policy tracking, KPI/KRI reporting, and securitization reporting.
- Provide overflow support to CFG Underwriting by way of taking on new business underwriting assignments.
- Assist with department projects or company initiatives, where needed.
**Let's Talk About You**:
- Post-secondary education (diploma/degree) in business or finance, MBA/CFA preferred.
- Have a minimum of 10 years multi family-insured/commercial mortgage experience with a minimum of 3-5 years of management experience.
- Highly developed verbal and written communication skills with the ability to communicate to Senior Management, Partners, and Borrowers in a clear, concise, and professional manner.
- Proven ability to inspire a team to work toward a set of goals and objectives.
- Advanced technical knowledge of commercial lending, financial statement analysis and factors affecting the Canadian commercial lending environment.
- Possess a detailed understanding of macro factors affecting the CMHC-insured multi-family lending environment with an ability to understand, anticipate and react accordingly, to changing factors.
- Detail-oriented individual who possesses a high level of integrity.
- Demonstrated service excellence within their field.
- In-depth knowledge of AML/ATF regulations and Corporate/Legal documentation for commercial real estate in multiple jurisdictions across Canada
- Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment.
- Effective analytical and problem-solving skills.
- Strong organizational and time management skills
- Ability to handle multiple competing priorities.
- Proficient in MS Office
**Job Complexities / Thinking Challenges**:
- The incumbent will be working in a fast-paced environment where accuracy and speed of execution are critical to our goal of providing a superior customer experience. Accordingly, the incumbent will need to ensure that stated timelines are being adhered to while regularly reviewing deal pipelines to ensure that high priority deliverables are being addressed. The volume of CMHC transactions combined with tight turnaround times often results in the need to make decisions with limited and/or incomplete information.
- The CMHC team is gen
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