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Commercial Credit Manager
3 months ago
At Equitable Bank, we believe in redefining the banking experience for Canadians. Our commitment to innovation drives us to challenge the traditional banking model, creating better options for our clients. With a team of dynamic and curious professionals, we strive to find smarter solutions in the financial sector. If you are ready to tackle significant challenges and help shape the future of banking, you will thrive in our environment. We foster a culture of collaboration, learning, and fun, encouraging each other to reach new heights.
Equitable Bank has been serving over 370,000 clients across Canada for more than 50 years. As a Challenger Bank, we aim to drive change in the industry, managing over $100 billion in assets. Our EQ Bank platform has been recognized as a top Schedule I Bank in Canada by Forbes for three consecutive years.
Your Role
Key Responsibilities
The Commercial Credit Manager plays a crucial role in leading and mentoring the team while ensuring operational efficiency. The responsibilities include:
- Reviewing and approving Credit Risk Assessments (CRAs) for originations, renewals, assumptions, and ad hoc requests within designated limits.
- Managing all aspects of the CMHC portfolio, including monitoring maturities, renewals, and loan extensions, as well as conducting quarterly servicing audits.
- Evaluating new deals from servicers and assigning them to appropriate team members.
The Manager will also conduct performance reviews, set targets for team members, and participate in the recruitment process for new hires.
Core Responsibilities Include
- 25%: Daily review and approval of loan analyses (CRAs) submitted by underwriters, ensuring compliance with guidelines and facilitating timely closings.
- 25%: Providing ongoing training and support to team members through regular meetings and one-on-one discussions.
- 25%: Overseeing CMHC portfolio management, including proactive management of maturities and coordinating quarterly servicing audits.
- 10%: Conducting performance reviews and interviews for potential candidates.
- 10%: Communicating with internal and external contacts to ensure efficient transaction processing and superior customer service.
- 5%: Handling various administrative and reporting duties required for departmental operations.
- Minimum of 5 years of experience in underwriting commercial real estate transactions, including CMHC-insured mortgages.
- Post-secondary education in business or finance is preferred.
- Bilingualism is an asset.
- Strong leadership and coaching abilities.
- Knowledge of AML/ATF regulations and corporate documentation for commercial real estate.
- Ability to thrive in a fast-paced, high-volume environment.
- Excellent verbal and written communication skills.
- Strong analytical and problem-solving capabilities.
- Proficient in MS Office and effective time management skills.
As a full-time permanent employee, you will enjoy competitive bonuses, a leading RRSP match program, comprehensive benefits, and a supportive work environment that values diversity and inclusion. We are committed to providing opportunities for personal and professional growth, ensuring that our employees can thrive in their careers while contributing to a transformative banking experience.
