Commercial Account Manager

4 days ago

Kitchener, Ontario, Canada Equitable CA Full time
Job Title: Commercial Account Manager

At Equitable, we're committed to creating a workplace that helps you grow and reach your full potential. Our friendly and collaborative environment recognizes that our growth and success depend on a dedicated, motivated, and client-responsive staff. We're looking for a Commercial Account Manager to join our Private Investments team.

Key Responsibilities:
  • Source new commercial mortgages, including CMHC insured, to achieve volume targets within quality and term parameters and meet investment benchmarks.
  • Underwrite new mortgage proposals by conducting a thorough assessment of the property, tenants, third-party reports, and borrower/guarantor information to ensure undue risk is not being assumed and returns are appropriate.
  • Structure, negotiate, and issue detailed commitment letters with approved terms and conditions to comply with underwriting criteria and mitigate risk.
  • Direct and coordinate the work of external sources, including legal counsel, to ensure suitable final security and loan documentation is in compliance with approved terms and conditions and oversee the advance/funding process.
  • Assist in the management of the Commercial Mortgage Portfolio, including financial performance and administration, effectively managing client relationships and maintaining credit risk controls.
  • Assist in preparing annual reviews of existing loans to ensure appropriate continuing security, profitability, and ratings of the portfolio are maintained.
  • Review loans approaching maturity to evaluate if the investment remains acceptable, preparing renewal application if so, and negotiating repayment or revised terms and conditions if necessary.
  • Monitor the portfolio to identify undesirable assets, developing and implementing action plans if necessary to correct delinquencies or defaults, or in the case of non-performing loans, to enforce the security documentation to ensure the repayment of the loan.
Requirements:
  • University degree, preferably in Business, Accounting, or Economics. A.A.C.I. designation or other real estate designation.
  • Ten years' demonstrated extensive mortgage/real estate lending experience with an established financial institution.
  • Experience in commercial real estate valuation methodology, spreadsheets, and credit and property analysis.
  • Solid understanding of land development processes, feasibility studies, and valuation and appraisal techniques and methods.
  • Knowledge of various real estate loan structures and how to structure transactions.
  • Thorough knowledge of commercial property market conditions and trends for values, costs, fees, and lending rates.
  • Working knowledge of laws relating to commercial mortgage lending, environmental liability, and mortgage defaults and foreclosure.
  • Knowledge of mortgage documentation, legal opinions, and other related legal agreements.
  • Demonstrated negotiation skills with the ability to lead discussions with borrowers, brokers/agents, and lawyers to ensure best results for the Company.
  • Excellent interpersonal skills and strong oral and written communication skills.
  • Computer literate in Word/Excel in Windows environment.
What We Offer:
  • A healthy work-life balance with employee wellness top of mind.
  • Annual bonus program, annual vacation allowance, and company-paid benefits program.
  • An additional paid volunteer day each year so you can spend time giving back to the community.
  • Immediate enrollment in the company's pension program with employer matching.
  • Employee resource groups that support an inclusive work environment.
  • Tuition support and specialized program assistance.
  • An onsite, full-service cafeteria with a variety of daily options.
  • Discounts on company products and services, and access to exclusive employee perks.
  • Regular EQ Together events focused on company togetherness and collaboration.

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