Manager, Commercial Credit CMHC

4 months ago

Toronto, Canada EQ Bank | Equitable Bank Full time
Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing) family. Overall we serve more than 670,000 people across Canada through Equitable Bank, Canada's Challenger Bank™, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than six million members. Together we have over $125 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our customers have named our EQ Bank digital platform (eqbank.ca ) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
The Work
The Manager, Commercial Credit is responsible for providing day to day leadership, mentoring and guidance to team members while at the same time ensuring that the team operates efficiently and productively. The Associate Manager will be responsible for:
  • reviewing and approving CRAs including originations, renewals, assumptions and ad hoc requests within delegated limits
  • all aspects of CMHC portfolio management (excluding CMHC annual reviews) including the monitoring and processing of all maturities, renewals, and loan extensions as well the Quarterly Servicing Audit of CMHC loan files
  • assessing new deals when received from servicers in order to assign them to the appropriate team member

The Manager will also be responsible for ensuring that departmental guidelines, procedures, policies and credit risk objectives are adhered to and must exercise sound judgment without compromising service and credit risk. Additional credit-related and administrative duties including weekly, monthly and quarterly reporting are also required to support senior management and regulatory requirements. The Manager is responsible for communicating and cooperating with external business partners as well as staff within the Credit & Risk Management group and other internal departments.
The Manager will prepare and conduct team members’ performance reviews and target settings as well as interviews for all incoming employees.
As required, the Manager is also responsible for underwriting commercial mortgage product types to be reviewed by the Senior Manager, Commercial Credit including conventional and CMHC-insured facilities, adhering to established policies and underwriting standards, meeting compliance and control requirements, achieving service goals and assisting with the achievement of anticipated annual team targets.
The core parts of your role would be to:
  • 1. 25% on a daily basis, the incumbent will review loan analyses (CRAs) submitted by commercial mortgage underwriters (including originations, renewals, assumptions, and ad hoc requests) and approve applications within prescribed limits. The incumbent is also responsible to ensure that the approved deals close as scheduled and as efficiently as possible by following up on outstanding conditions/documents and ensuring compliance with established guidelines. On a daily basis, the incumbent is expected to provide support, guidance and mentoring to team members. The incumbent will be responsible for ensuring that team members adhere to company policies and guidelines
  • 25% on a daily basis the incumbent will be responsible for providing ongoing training and guidance to staff members. This will include regular staff meetings and one-on-one discussion with individual staff members
  • 25% on a daily basis, the incumbent will responsible for managing all aspects of CMHC portfolio management (excluding CMHC annual reviews). This includes:
  • proactively managing upcoming maturities to make sure proper resources are available to handle the influx of renewals, extensions and payouts
  • monitoring the CMHC Maturities Pipeline to accurately track the status of upcoming renewals, refinances, extensions and discharges
  • coordinating the quarterly CMHC quarterly Servicing audit which includes compiling audit sample batches, assigning audit files to the appropriate team members, reviewing audit results and preparing the quarterly report to be reviewed by management
  • This is to be accomplished in part by having weekly conference calls with our Partners, monthly meetings with the Director of CFG and working closely with the CMHC coordinator to ensure all lending criteria have been satisfied and outstanding documentation/conditions, if any, are being met in a timely manner
  • 10% on an ad-hoc basis, the incumbent will prepare and conduct employee targets and performance reviews as well as interview candidates for available positions
  • 10% on a daily basis, the incumbent will communicate with internal contacts (funders, managers, administrators) and external contacts (lending partners, mortgage brokers) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service
  • 5% on a monthly basis, the incumbent will be responsible for various administrative and reporting duties required for the department/Company which will be relied upon by Senior Management

Let's Talk About You
  • Minimum 5 years of experience in underwriting commercial real estate transaction including CMHC-insured multi-unit commercial mortgages
  • Post-secondary education (diploma/degree), preferably in business or finance
  • Bilingualism is an asset
  • Strong leadership and coaching skills with the ability to set strong examples for colleagues
  • Working knowledge of AML/ATF regulations and Corporate/Legal documentation (both direct and partner originated transactions) for commercial real estate in multiple jurisdictions across Canada
  • Proven ability to thrive in a constantly changing environment and to perform well in a high volume, high intensity environment
  • Proven ability to inspire a team to work toward a set of goals and objectives
  • Highly developed verbal and written communication skills with the ability to communicate to Management, Partners and Clients in a clear, concise and professional manner
  • Sound technical knowledge of commercial real estate underwriting, financial statement analysis and factors affective the commercial mortgage market
  • Effective analytical and problem solving skills
  • Strong organizational and time management skills
  • Ability to handle multiple competing priorities and make decisions under pressure
  • Proficient in MS Office

What we offer (For full-time permanent roles)
 Competitive discretionary bonus
✨ Market leading RRSP match program

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