Sr. Director, Credit Risk Management-Commercial Real Estate

Sr. Director, Credit Risk Management – Commercial Real Estate – RFA Bank of Canada

Date:
October 20, 2025

Location:
Toronto

Company:
RFA Bank of Canada

Job Type:
Permanent

About RFA

Founded in 1996, RFA (Realty Financial Advisors) is a leading Canadian-owned real estate firm. Through RFA Bank of Canada and RFA Mortgage Corporation, RFA offers mortgage brokers a complete range of Prime and Alternative mortgage solutions.

RFA Bank of Canada, a division of RFA (Realty Financial Advisors), is a federally regulated Schedule I Bank. Our goal is to be a long-term leader in the residential lending market by offering more than just competitive rates and compensation. At RFA Bank of Canada, we focus on delivering a unique value proposition in the Alternative mortgage space, committed to innovation and exceptional service to meet a diverse range of borrower needs.

The Opportunity

We're looking to fill a
Sr. Director, Credit Risk Management – Commercial Real Estate
position at
RFA Bank of Canada

The Senior Director, Credit Risk Management – Commercial Real Estate is responsible for second line oversight of the Bank's commercial real estate (CRE) lending activities, and quantitative portfolio analysis. The Senior Director will be responsible for reviewing new, renewal, and amended CRE loan applications, approving CRE loans within their Delegated Lending Authority (DLA), and referring loans outside of their DLA to the appropriate approving authority.

The Senior Director CRM-CRE will develop, maintain, and/or review CRE credit risk related policies, standards and guidelines to ensure alignment with the Bank's risk appetite, regulatory requirements, and expectations. In addition, the Senior Director is responsible for monitoring compliance with CRE credit risk policies, guidelines and risk appetite levels at origination and throughout the lifecycle of the loan, participate in reporting on portfolios and risk limits, monitoring the environment for emerging risks and assessing the impact on the portfolio of loans, while ensuring that appropriate risk management practices that address increased risk are implemented.

Core Responsibilities

As the
Sr. Director, CRM-CRE,
you will:

Commercial Real Estate Approvals:

• Approve new, renewal, or amended Commercial Real Estate (CRE) loan applications, within their Delegated Lending Authority (DLA), and recommend loans outside of their DLA to the appropriate approving authority.
• Approve off-balance sheet CMB Mortgage purchases/Investments within their DLA and recommend loans outside of their DLA to the appropriate approving authority.
• Ensure that all loans comply with the requirements for this book of business including risk appetite, policies, standards, guidelines and regulatory requirements.

Policies, Guidelines, and Standards:

• Maintain all CRE policies and ensure that limits are aligned with the Bank's risk appetite, regulatory requirements and consider the risks in the environment.
• Maintain or create relevant standards and guidelines to ensure that they reflect current Bank and market realities.
• Review and challenge the first line's guidelines and procedures and ensure alignment with the established policies, appetite, industry best practices, regulatory requirement, and evolving business environment.
• Assess the adequacy of the internal control environment and provide recommendations to improve controls and processes as appropriate.

ECL, Arrears and Default Management:

• Participate in the Bank's CRE ECL process including the assessment of specific allowances.
• Oversee arrears and default management.
• Monitor the portfolio for signs of increase in credit risk.

Stress Testing:

• Establish and maintain a program to perform ongoing sensitivity and stress testing to assess the impact of various factors on the risk of the CRE portfolio and proactively implement mitigating actions.
• Contribute to the ICAAP and contingency funding plan testing as needed.

Quality Assurance:

• Actively oversee the CRE quality assurance program ensuring that underwriting is aligned with the Bank's risk appetite and is in compliance with internal policies and standards as well as external requirements.

Monitoring and Reporting:

• Perform continuous monitoring of CRE risk limits and jointly provide accurate risk reporting on all current and emerging risks in the portfolio, including compliance with limits, performance of the portfolio, and changes in the business environment with the VP & Deputy CRO.
• Monitor market conditions, to identify and assess emerging issues or opportunities impacting the CRE loan portfolio.
• Ensure prompt submission of required OSFI reporting on CRE.
• Participate in monthly reporting on the CRE portfolio to Credit Committee and quarterly reporting to the Board.

Technical Advisor:

• Maintain detailed knowledge and understanding of the Bank's CRE business activities, the regulatory requirements and expectations, and developments in the economy and markets and its impact on the Bank's CRE business.
• Provide subject matter expertise and advice to all levels of management on CRE risk issues and related policy matters.
• Support Business Units in regulatory, governance and transformation initiatives.
• Develop expert understanding of CRE credit risk ERM challenges.
• Identify emerging issues and trends to keep current on market developments in CRE credit risk management.

Innovation and Change Management:

• Assess and adapt operational processes; develop new capabilities to ensure on-going relevance and success.
• Find ways of harnessing technology to improve the efficiency and timeliness of CRE management and reporting.
• Contributes to ERM's projects and initiatives, as needed.
• Maintains contact with peers in the industry to share best practices.

Other:

• Support the VP & Deputy CRO in other tasks as required.

What You'll Need to Succeed

• Minimum of 10 years of experience in a CRE credit management function working within a regulated Bank, with established knowledge of mortgage lending and deposit taking institutions.
• Technical knowledge and understanding of ERM practices including risk appetite framework, stress testing, models, and economic forecasts.
• In-depth knowledge of commercial lending credit risk and regulatory requirements, including OSFI.
• University degree in a related field.
• Professional degree or certification is an asset.

What Sets You Apart

• Detailed analytical skills and problem solving
• Ability to work within cross functional teams comprised of diverse backgrounds and skill sets.
• Strong interpersonal and communication skills, both written and verbal
• Strong organizational and project management skills with the ability to prioritize, balance conflicting tasks, and manage internal and external stakeholders.
• All-round abilities, and a demonstrated willingness and enthusiasm to be a team-player, and to embrace the challenge of working in a lean, fast-paced environment in a growing organization.
• Strong negotiation, presentation, and facilitation skills.
• Strong leadership and team development skills.
• An ability to confidently and competently act as a change agent.
• Proficient with Microsoft Office (Word, Excel, PowerPoint) and knowledge of PowerBI

Our Values and What We Offer at RFA

At RFA, we live by our core values. These values guide our daily actions and shape our work culture:

• Accountability:
  You take ownership of your work & its consequences. You always consider risk & make informed decisions.
• Selflessness:
  You share info & teach others. You're able to put your ego aside & understand that the best idea wins.
• Inclusivity:
  You value differing viewpoints & experiences. You understand how this can drive growth & innovation.
• Innovation:
  You seek opportunity & embrace change. You see tech as a way to enhance productivity & drive profitability.
• Courage:
  You make tough decisions in our best interest. You see opportunity when faced with challenge or adversity.
• Impact:
  You value results & your contributions. You rise to the occasion and never settle for sub-par.
• Performance:
  You embody a competitive spirit, desire to win and strive for executional excellence.

Along with a strong work culture, RFA offers a comprehensive benefits package, including:

• Health & Dental Care
• Vision Care
• RRSP Match
• Health & Wellness Spend
• Vacation & Personal Days
• Hybrid working environment

Ready to take the next step?

If this opportunity excites you and aligns with your skills and aspirations, we'd love to hear about how you can contribute to our team at RFA.

Accessibility

Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.