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Senior Manager, Commercial Loan Recovery
3 months ago
Key Responsibilities:
- The selected candidate will oversee and/or manage intricate delinquent and problematic commercial mortgages, aiming to minimize financial losses for the institution. This includes processing loans for legal proceedings due to non-payment, conducting thorough financial assessments before advising Senior Management on suitable legal actions, and managing loans under legal scrutiny while ensuring adherence to established default and workout strategies.
- The role involves performing, reviewing, and correlating all underwriting aspects, including collateral evaluation for defaulted loans and troubled accounts, ensuring that submissions address identified risk factors, and updating risk ratings on default loans in a timely manner.
- Collaboration with the Mortgage Services team is essential to assist in managing, monitoring, and resolving commercial delinquencies and certain non-performing loans, while providing timely updates to Senior Management as necessary.
- In certain situations, the candidate may provide direct oversight on properties held for recovery purposes.
- Preparation of various reports for Senior Management, the Board of Directors, and external regulators is a critical task, including quarterly Problem Loan reports, monthly classified and watchlist reports, and other ad hoc reporting as required.
- The incumbent will work closely with Senior Management to enhance operational efficiency and implement improvements to meet departmental objectives effectively. This may involve participating in or initiating special projects, establishing new policies and procedures, and other initiatives aimed at delivering exceptional service to all stakeholders.
Candidate Profile:
- A minimum of 5-7 years of experience in commercial mortgages or a related field, with a preference for candidates with default experience.
- A degree in business or a related discipline, along with a CPA or similar professional designation, or equivalent work experience.
- Knowledge of mortgage enforcement remedies and foreclosure processes across Canada.
- Strong analytical and problem-solving capabilities.
- Comprehensive technical knowledge of secured lending and the factors influencing the commercial mortgage market, with a solid understanding of end-to-end processes.
- Excellent time management and organizational skills.
- Ability to manage multiple tasks with a keen attention to detail, especially under tight deadlines.
- Proven adaptability in a fast-paced environment and the ability to perform under pressure.
- Self-motivated with the capability to work independently.
- Strong negotiation and communication skills, both verbal and written.
- Exceptional presentation skills and the ability to engage professionally with Senior Management and other stakeholders.
- Proficiency in MS Office.
- A valid driver's license and willingness to travel as required.
Job Complexity:
- This position requires the ability to make informed decisions and recommendations efficiently, often with limited information. The candidate must possess strong cognitive skills and professional judgment for effective portfolio management.
- Adherence to corporate policies, procedures, and regulatory requirements is essential for managing files and rationalizing decisions.
- The incumbent will face daily challenges associated with default management and must be a quick learner and strategic thinker to ensure timely resolutions for problem loans, managing multiple defaults that are often time-sensitive and unique.
- Market knowledge will be crucial for assessing appropriate solutions.
What We Offer:
- Competitive discretionary bonus.
- Market-leading RRSP match program.
- Comprehensive medical, dental, vision, life, and disability benefits.
- Employee Share Purchase Plan.
- Maternity/Parental top-up benefits.
- Generous vacation policy and personal days.
- Virtual events for colleague engagement.
- Annual professional development allowance and a robust Career Development program.
- An opportunity to contribute to an innovative banking experience.
