This position is based at Vancity Community Investment Bank (VCIB), an Ontario-based subsidiary of Vancouver City Savings Credit Union (Vancity). As Canada’s first values-driven bank, VCIB provides banking, investing, and financing solutions to help purpose-driven businesses and organizations create, grow and foster change. At VCIB, we embrace your strengths and your ambitions, so you feel empowered at work. We need talented, passionate professionals who are dedicated to using finance as a force for good and doing what’s right for our clients.
As an Account Manager on the Commercial Real Estate Lending team, you will play a critical role in growing and managing the portfolio of loans to social purpose real estate projects, including (but not limited to) affordable housing, green buildings, and community spaces. You will join a small, diverse team of entrepreneurial, purpose-driven individuals, and will contribute and develop your expertise in credit underwriting, portfolio management and funding, with a specialized lens on impact finance.
What You’ll Be Doing
The Account Manager, Commercial Real Estate Lending will provide expertise to support the growth and administration of VCIB’s commercial mortgage underwriting business. You will be responsible for supporting the origination team on new transactions and for managing a portfolio loans on an ongoing basis, ensuring the adherence of commercial credit policy, standards and guidelines, and while fostering a culture of respect, trust and integrity.
How You’ll Succeed
- Complete underwriting analysis of commercial mortgage transactions for multi-residential and construction facilities including detailed analysis of the borrower, real estate security and loan terms to ensure all files meet industry and company regulatory requirements.
- On each transaction, review, assess suitability, risks & complete due diligence requirements, and adjudicate commercial mortgage transactions in accordance with the company’s risk appetite.
- Prepare and issue LOIs (Letters of Interest) and commitment letters outlining all conditions that must be met to the company’s satisfaction and according to negotiated and approved terms.
- Maintain consistent, objective and sound risk assessments in a service-oriented environment
- Provide guidance and decision making to support the origination teams to solve problems
- Work effectively with colleagues across teams to improve underwriting systems to maximize effectiveness and achieve excellence
- Maintain a pipeline of transactions and a list & file of all transactions amended or declined or approved to support accountability, effective reporting, and decision-making
- Complete loan renewals and annual review processes
- Co-ordinate closing process with solicitor and investors, ensures that all funding requirements have been met
- A problem solver – You have an analytical mind and can multi-task to come up with solutions
- A great communicator – You find it easy to get to know others and have great conversations
- Ready for a challenge – You have a positive attitude and are able to work in a fast-paced changing environment
- Resourceful – You understand and utilize the network of resources available to you and can independently formulate appropriate solutions for your members
- A strong relationship builder- You find it easy to get to know others and build trust
- Bachelor's degree and/or Master’s degree in business, economics, finance or related field
- Minimum of 5 years real estate financing experience
- Knowledge of the Ontario commercial real estate market, and experience and/or strong interest in advancing social purpose and sustainable real estate
- Strong interpersonal and writing skills
- Experience in commercial credit underwriting and evidence of strong business and financial analytical skills
- Strong English communications skills (oral and written)
Interested in the position? Apply now!
A cover letter is mandatory.
Posting Deadline: Please apply by 4:00PM on September 10, 2021