Associate, Underwriting Commercial

2 months ago

Toronto, Canada Bayview Asset Management Full time

Job Description

Overview

Glasslake is a rapidly growing mortgage lender. Since the start of our operations in 2023, we have expanded presence across Canada in Ontario, Alberta and British Columbia. We are seeking a seasoned Associate, Underwriting Commercial to join our operations in the Toronto office.

Are you a results-driven professional, open to learning or enhancing your skills and looking for a new challenge? Do you want to excel in the mortgage industry and learn from some of the best and most-experienced executives in the lending business? If this is you, we invite you to submit your application today

This is an individual contributor role and will primarily be responsible for evaluating the credit worthiness and management capabilities of the borrower/guarantor, the real estate collateral securing the proposed loan, adequacy of the loan structure for transactions and maintaining the relationship with broker and lender partners. This role requires knowledge, experience and understanding of small balance and large commercial lending with an understanding of residential lending considered an asset, preferably in the alternative lending space.

The successful candidate will thrive in a high-paced environment and will be able to manage multiple priorities and deadlines. Through the development of strong relationships with our partners, the ideal candidate possesses effective communication skills, has a high level of emotional intelligence and strong interpersonal skills with a proven track record to consistently meet or exceed performance objectives.

At Glasslake, we believe our biggest strength lies in our people and we are dedicated and committed to your growth. We offer a competitive benefits package, educational opportunities and reimbursement as well as mentorship from industry experts. In this role you will leverage constructive feedback and utilize skills that you have learned to continuously exceed targets. We also offer earned opportunities for advancement and a work environment that thrives on fun, inspiring your colleagues and access to executive leadership. If this opportunity sounds like the right fit for you, we invite you to submit your applications. 

Glasslake is an equal opportunity employer, and only successful candidates will be contacted for an interview.


Responsibilities

The following job functions are not all-inclusive. The employee will be required to perform other job-related tasks/responsibilities as requested. Job duties may change as required by the needs of the company.

Conduct in-depth review, analysis and research of balance sheets, income statements, cash statement, text returns and projections to underwrite mortgage files. Interpret and analyze financial information from multiple sources, including reporting services, credit bureaus, credit reports, and other industry data to inform underwriting decisions.  Assess the borrower’s ability to generate income sufficient to repay existing and proposed debt  Review appraisal, environmental, and other reports to identify risk areas and recommend mitigating solutions and next steps.  Prepare narrative memo analysis of the financial review, demonstrating a thorough understanding of financial condition.  Recommend various loan structures (and pricing structures) that balance risks and rewards.  Underwrite and decision files based on sound credit with particular emphasis on adherence to credit policy and requirements, risk culture, financial analysis/modeling, risk evaluation and mitigation and proper loan structuring  Meet production requirements and department goals.  Adhere to applicable compliance obligations including Privacy, Anti-Money Laundering/Anti-Terrorist Financing and internal Anti-Fraud Policy requirements.  Ensure effective communication between Relationship Managers, Loan Administration, Loan Documentation, Funding Control and other departments involved in the loan process.  Liaise with lender partners on large volume transactions Participate in pre-commitment and post-closing inspection as part of a continuous monitoring of the credit-risk management framework as well as improve efficiency and reduce costs.  Recommend process improvements with Loan Origination System and assist with the implementation.  Adhere to underwriting guidelines and department policies and procedures  Perform second level one up reviews/approvals on loans recommended for approval from Underwriters, where it is above their authority  Establish relationships with Sales/Acct Management that optimizes business potential with brokers  Perform other duties as needed. 
Qualifications

The ideal candidate will possess the following skills and background:

At least 5-8 years of experience in commercial underwriting, financial analysis or deal structing in financial services; experience in residential lending considered an asset Bachelor's degree in business, finance, or a related field preferred Formal credit or commercial loan training and some previous credit decisioning preferred Knowledge of credit/underwriting of small commercial real estate loans. Exposure to a wide variety of commercial credits and the professional/executive market segment is preferred  Knowledge of financial accounting theory and logic, loan structuring, commercial products and services Solid credit fundamentals in a commercial environment Working knowledge of bankruptcy, foreclosure and litigation matters is considered an asset Ability to work effectively in a fast-paced environment. High integrity and a high level of respect for confidentiality Strong written and verbal communications skills. Strong analytical and intuitive investigative skills. Ability to manage multiple tasks and prioritize workflows often under tight deadlines Strong independent decision-making capabilities and attention to detail. Skilled in negotiating issues and resolving problems and influencing decisions to meet performance goals Strong skills in Word, Excel and Outlook Ability to establish and maintain working relationships with co-workers, staff and external contacts, and to work effectively in a professional team environment Demonstrate leadership abilities

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