Manager, Commercial Lending

The Estonian Credit Union has been providing financial services primarily to members of the Estonian community and a growing number of friends for over sixty years.  Our unique combination of a high level of customer service, no-fee day to day banking, and very competitive interest rates is hard to beat.  Because our customers are also our owners (members), we can focus 100% on doing what is best for our customers.  With close to 5,000 members and over $130 million in assets, we are growing and looking to add a key person to our team.

Reporting directly to the CEO, the Manager, Commercial Lending is a core member of the credit union’s management team and will play a key role in the future strategic development of the organization.

The Manager, Commercial Lending will be responsible for managing and growing a book of 66 commercial mortgages with a value of $50 million including syndicated balances.  The book consists primarily of low to moderate risk loans with no delinquency, and contains a good mix of industries served and geographic regions.  In addition to underwriting loans on our own account, the credit union both syndicates loans to other credit unions and our central credit union, Central 1, and participates in loans syndicated by them, including construction lending.  The Commercial Lending Manager will operate within regulatory lending limits permitting loans up to $2.2 million on the credit union’s own account and leading syndicated loans up to $12 million. 

The Manager, Commercial Lending will manage a commercial lending officer and work closely with external commercial lending consultants, and internal retail lenders and finance.

This role will appeal to a commercial lender with 5+ years’ experience, who is looking to take on a management role and full-responsibility for the commercial lending function.  In addition to commercial lending, there is opportunity to develop other small business financial services in the credit union. 

The successful candidate will demonstrate both business development acumen and underwriting capability, together with an appreciation of teamwork and desire to coach staff.

Primary Tasks and Responsibilities:

  •  Manage the existing portfolio of loans, including:
  • Review annually the performance and risk of each loan
  • Identify and regularly monitor problem accounts and plans to minimize risk
  • Enforce covenants and security for non-compliance of borrowers, including calling loans for repayment in the case of default
  • Ensure collection of proper documentation and security for all commercial loans
  • Liaise with syndicate partners
  • Loan loss allowance
  • Pending funding and payouts
  • Report monthly to CEO and Board and input to monthly financial and regulatory reports.
  • Build strong relationships with existing clients, seeking additional lending opportunities and promoting the full-range of the credit union’s financial services.
  • Business development, relationship-building and networking with credit union sector syndicate partners, commercial brokers, commercial real estate lawyers, and businesses.
  • Review and analyze new loan opportunities issuing term sheets, applications, and commitment letters in conjunction with the credit union’s commercial lending consultants:
  • Underwrite or manage staff to underwrite all new loans, ensuring appropriate risk mitigation and pricing, and compliance with credit union policies and procedures.
  • Receive and analyze financial and personal net worth statements and business plans
  • Conduct site visits to view and evaluate property / security and interview borrowers
  • Calculate debt servicing capacity and sensitivity to interest rate movements and business assumptions
  • Negotiate terms and conditions of loans and ensure these are understood by the borrower
  • Grant commercial mortgages and lines of credit within commercial lending policy and lending limits, and submit recommendations for credit to appropriate approval level.
  • Provide direction, training, and coaching to Commercial Loan Officer and approve loans referred within lending limits.
  • Maintain strong communication with Manager, Systems and Finance on lending pipeline and upcoming payouts to manage credit union liquidity and structural risk.
  • Develop strong, mutually respectful relationship with lending consultants and credit union colleagues.
  • Ensure commercial lending policy and procedures remain up to date, recommending policy changes to the Board.

Essential Requirements

  • Demonstrated business development acumen and strong interpersonal skills
  • Commercial lending underwriting experience and strong analytical skills
  • Experience negotiating commercial mortgage terms and conditions
  • Ability to juggle multiple priorities effectively and meet deadlines
  • Ability to maintain accuracy and composure under pressure
  • Capable business judgement and risk identification
  • Disciplined execution and management of department and book of loans
  • Mature escalation of issues and risk to executive management and board
  • Mentor and coach to direct reports
  • Driver’s license

Assets

  • Business degree
  • Accounting designation or commercial lending certifications
  • Access to a vehicle

This position offers the opportunity to grow and take on additional responsibilities based on ability and career goals.   We offer a competitive compensation package and a positive work environment. 

Are you looking to join a dynamic, community-based financial institution that truly cares about its members and goes out of its way to find the right financial solution for each member?  Then please submit a resume and cover letter to contact@grahambrownconsulting.com by May 15, 2017.

The successful candidate must complete a full background check and be bondable.

We thank all candidates; however, only those to be interviewed will be contacted.  

Estonian Credit Union is committed to meeting the needs of all individuals in accordance with the Accessibility for Ontarians with Disabilities Act (AODA). Should you require accommodations during the recruitment and selection process, please notify us and we will work with you to meet your needs.

 

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