Associate Director, Commercial Credit, CMHC

EQ Bank | Equitable Bank • Toronto, ON

10d • Hybrid

About The Position

Equitable Bank, Canada's Challenger Bank, is seeking an Associate Director, Commercial Credit. This role involves managing and supervising a team of underwriters and administrators to ensure optimal service, efficiency, adherence to policies, underwriting standards, and compliance requirements. The Associate Director will monitor the commercial pipeline, manage credit flow, approve or recommend commercial mortgage facilities within assigned limits, and lead team development to meet lending and regulatory requirements. The position also includes additional credit-related and administrative duties to support Senior Management and regulatory needs, and requires communication and cooperation with external Business Partners, Lending Partners, Clients, Brokers, and internal departments within the Credit & Risk Management group.

Requirements

• Have a minimum of 10 years’ mortgage experience with 5 years of management experience.
• Post-secondary education (diploma/degree), preferably in business or finance
• Demonstrate leadership skills with the ability to set strong examples for subordinates
• 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 Senior Management and Partners 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
• Proficient in MS Office

Responsibilities

• Review and analyze all commercial mortgage reviews and proposals (including originations, amendments and/or updates), together with supporting credit related documentation. Attention must be made to ensure that compliance with the company’s established lending guidelines, procedures and regulatory requirements (including AML/ATF requirements) are followed with recommendations submitted for approval to management. The incumbent is responsible to ensure all criteria has been satisfied on underwritten commercial mortgage reviews and outstanding documentation/conditions, if any, are being met in a timely manner. A majority of the reviews are comprised of complicated loans requiring higher levels of approval which include thinking out of the box (as there might not be established procedure addressing it), working on mitigants to safeguard the Banks’ interest and providing recommendations accordingly.
• Lead their team by providing support, guidance and mentoring. The incumbent will be the first point of contact for Senior Management and will be responsible for ensuring that their team adheres to company policy and guidelines as well as regulatory requirements. The incumbent will also be the person responsible for resolving day to day department challenges, assess individual staff member training needs and ensure that they are met so that the individual is able to perform his/her job effectively.
• Attend New Deal meetings where new loans are presented to the Credit team and will be required to opine on them. This will include heading up the meetings in lieu of the Director if required.
• Responsible for time management of their work flow, as well as that of the department, in order to meet prescribed deadlines. The intention is to have a 24 hour turn around for a loan submitted for review.
• Communicate with internal contacts (Senior Management, Underwriters, Administrators, and Commercial Funders) and external contacts (Lending Partners, Brokers and Clients) to ensure transactions are processed in a timely and efficient manner in order to deliver superior customer service.

Benefits

• Competitive discretionary bonus
• Market leading RRSP match program
• Medical, dental, vision, life, and disability benefits
• Employee Share Purchase Plan
• Maternity/Parental top-up while you care for your little one
• Generous vacation policy and personal days
• Virtual events to connect with your fellow colleagues
• Professional development and comprehensive Career Development program
• A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: Associate degree