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Vice President, Commercial Real Estate
2 weeks ago
RFA’s mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank with a focus on Canadian mortgage products. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending). The Bank’s commercial mortgage operations focus on large commercial exposures in the construction and term lending space. Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.
- RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.
**The Opportunity**
- Reporting to the President & CEO, the Vice President, Commercial Real Estate is accountable for all commercial lending activity in the Bank, including, but not limited to: Insured multi-residential, commercial term lending; and commercial construction lending. Ongoing strategic direction for the portfolio and management activity for all commercial and multi-residential loans held by the Bank are included in this purview. Accountabilities include but are not limited to: oversight and reporting on the business lines’ performance from both volume and risk perspectives; development and implementation of governance; and ensuring all activities in the purview are operating within the Bank’s stated risk tolerance.**Core Responsibilities**
- Customer Results
- Lead the Commercial team in achieving set objectives as it pertains to origination and underwriting of multi-residential and commercial debt.
- Directly responsible for implementation and management of the Commercial Term, Commercial Construction, and Insured Multi-Residential lending programs.
- Generate and deliver reporting to Senior Management/Executive (monthly) and Board of Directors (Quarterly). Reporting to include portfolio performance and forward-looking strategic objectives and opportunities.
- In conjunction with Enterprise Risk Management, development and implementation of policies pertaining to new originations and acquired assets.
- Development and implementation of RFA Bank’s commercial underwriting governance including, but not limited to: Multi-Residential, Construction, and Commercial Guidelines; Standards; and Processes. Governance to adhere to the Bank’s credit, AML and compliance policies and Risk Appetite Framework while maintaining competitive position in the marketplace.
- Handle difficult interactions and unpopular decisions, balancing business partner satisfaction with quality standards established by the Bank.
- Accountable for the quality objectives of the commercial credit group, including monitoring of arrears and default levels; emerging and existing trends; ongoing portfolio assessment for higher risk and/or monitored loans; and upcoming maturities.
- Lead and manage relationships with third party service providers employed by the Bank’s commercial group (including, but not limited to: MCAP’s Development Finance Group; MCAP’s Commercial Mortgage Group; First National’s Commercial Mortgage Group; and Peakhill Capital).
- Ensure prudent fiscal management of outsourced resources, reviewing and approving monthly billing and assessment of requirements (e.g. Purview; Equifax; Transunion)
- Risk Management
- Participate in review of Quality Assurance reviews and provide feedback to account managers to support the risk objections of RFA Bank of Canada.
- Liaise with Quality Assurance, AML, and Credit Risk teams to ensure loan quality and best practices while ensuring service levels are not compromised.
- Ensure timely and compliant commercial mortgage funding with co-ordination of internal and external stakeholders.
- Liaise with ERM for internal assessments including, but not limited to: Risk Control Self Assessments; Regulatory Risk Assessments; Compliance Testing; and input and approval of Key Risk Indicators into Resolver, the Bank’s risk management system.
- Assist the CAMLO in development and ongoing implementation of AML procedures for the Bank’s commercial lending activities.
- Ensure timely completion of ongoing portfolio management activities in the commercial lending book (e.g. annual and quarterly reviews, as required).
- Customer/Stakeholder Interaction- Escalation points for clients dissatisfied with adjudication re: changes to existing loans (eg. Allowing second mortgages; borrower paid taxes; ports; title transfers; and assumptions)
Financial Responsibilities- Attaining revenue targets associated with insured multi-residential program.
- Maintaining net
