CMHC Commercial Underwriter

1 month ago

Edmonton, Canada Servus Credit Union Full time

Posting Closes: September 6, 2024 @ 4:00 pm (MST)

Employment Status: Full-time

Compensation: Commensurate with a Relationship Manager or Senior Relationship Manager, depending on qualifications


Servus is growing We are currently looking for a CMHC Commercial Underwriter in each of Calgary and Edmonton's Business Banking Centers.

Servus Credit Union is Alberta's largest member-owned credit union, known for building strong, resilient communities by helping our members feel good about their money. One of Canada's Best Managed Companies for 20 consecutive years and ranked as one of the top banks in Canada on Forbes World's Best Banks list for two years in a row, we are a team of smart, gutsy and driven individuals.  

Reporting to the Market Director- Business Banking, your primary responsibility as a commercial financing CMHC subject matter expert is to:

  • fully complete and submit CMHC applications in compliance with required terms and procedures to obtain the Certificate of Insurance (COI)
  • underwrite (internal) credit applications in adherence with Servus' policies and procedures
  • ensure documentation and follow-up procedures are in compliance with CMHC at and after funding
  • Time permitting, provide underwriter support on conventional (non-CMHC insured financings)

As an Underwriter, you will ensure applications meet acceptable risk tolerances in accordance with prudent lending practices and corporate lending policies, as well as regulatory and legislative requirements.

More specifically, the scope of your responsibilities will include, but is not limited to, the following:

  • As a CMHC subject matter expert in all aspects of the multi-unit residential properties (both construction and long term take-out financing) you need to be informed and current on all CMHC policies and requirements.
  • Since you will be completing both CMHC's COI applications and Servus' credit applications, you will need to ensure that all requirements (in particular collection of all reports and supporting documentation) by both CMHC and Servus are fulfilled and maintained.
  • Completing quantitative and qualitative analysis of applicable loan documents for new financing requests and reviews of existing relationships
  • Applying prudent risk management practices and adhering to policies and procedure established by the operations and credit team
  • Understand, analyze, and interpret standard business lending reports, including but not limited to: balance sheet, income statement, statement of cash flows, tax returns, personal financial statements, business plans, projections, rent rolls, appraisals, environmental, and building condition reports
  • Research, review, and analyze industry data, market studies, competitive information, management’s ability, member’s industry, member’s competition, and regional impacts for this member
  • Meeting the service level agreements for volumes, accuracy, and timeliness
  • Maintain up to date knowledge of Commercial Lending products, services, policies, procedures and documentation.
  • Act as a resource for internal members and commercial banking team; provide advice and resources regarding economic influences, industry trends, and the analysis, structure and negotiation of commercial credit applications and related documentation
  • Make recommendations regarding credit decisions, risk ratings, loan pricings and credit structure to management in line with Servus Credit Union's policies and regulations

Requirements

  • 5+ years’ experience as a commercial lender or underwriter; full knowledge of complex commercial and business loan underwriting, documentation preparation, funding, and applicable laws and regulations
  • 5+ years’ experience in analysis and underwriting
  • 5-7+ years’ experience in reviewing and understanding business and personal financial information and tax returns
  • University degree in a business discipline or sufficient experience in lieu of education
  • Experience working with CMHC multi-unit financings, ideally completing CMHC COI applications, is considered a strong asset

Benefits

Working for Servus has outstanding benefits. In addition to standard benefits like health and wellness, vacation and retirement savings programs, we also provide other important benefits such as:

  • Training & Development Opportunities
  • Career Advancement Potential
  • Flexible work options
  • Competitive Compensation including performance-based incentive pay
  • Meaningful work towards individual and corporate goals 
  • Opportunities to get involved and give back through an employee volunteer program

 For information about these benefits and more, click here. 

At Servus, our employees are also members. This means you'll have all the benefits of being a member of the credit union including profit sharing, voting for the board of directors, and all of the services we provide … with a few additional perks

What happens next?

Only those applicants selected for an interview will be contacted. Should you require any accommodations during the hiring process, please advise us at that time.

Discover a sense of belonging amongst a team of unique, authentic individuals working together to reimagine financial fitness. We value and celebrate the richness that diverse backgrounds and experiences bring to our community. Your skills, passion, and curiosity may find a sense of belonging at Servus.

#indh

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