Manager, Commercial Lending
Atlantic Central provides liquidity management, payments processing and trade association services that support the credit unions of Atlantic Canada. The central provides leadership, advocacy and a range of support services in the fulfillment of these key functions. League Savings and Mortgage is a subsidiary of Atlantic Central and provides commercial and retail mortgage financing in support of credit unions, credit union members, and through broker services.
Atlantic Central is currently accepting applications for the position of Manager, Commercial Lending. The successful candidate will bring a network of business contacts that will ensure success in sourcing real estate lending opportunities in the $2M and up bracket. They will also lead a small team that is collectively responsible for the growth and ongoing management of the Company’s commercial mortgage portfolio.
Reporting to the Director, Commercial & Lending Services, the Manager, Commercial Lending is responsible for:
- Developing and maintaining a network of relationships including direct, credit union, and other referral sources (e.g. brokers, accountants, etc.). Actively pursuing opportunities in the $2M and up bracket to grow LSM’s commercial portfolio and AC’s syndication portfolio ensuring department, team, and individual goals are achieved.
- Conducting detailed analysis of potential Canada Mortgage Bond (CMB) transactions and preparing credit submissions to include a recommendation to LSM’s Executive Committee in conjunction with the Director, Commercial & Lending Services
- Maintaining a full understanding of CMHC criteria pertaining to the insurance of multi residential real estate financing.
- Reviewing potential new business opportunities including, but not limited to, conducting a comprehensive analysis of the applicant’s financial statements, cash flow, business performance history, profitability and personal net worth of shareholders to assess credit worthiness and compliance with the company’s commercial lending policies and guidelines.
- Negotiating terms and conditions and deal structures, and preparing credit applications prior to submitting for adjudication.
- Supervising and coordinating the work of direct reports.
- In conjunction with the Director, Commercial & Lending Services and the Senior Manager, Lending Services, managing the AC Syndication Portfolio and the LSM Commercial Loan Portfolio; completing annual reviews and ensuring action plans are formalized to regulate accounts experiencing financial difficulty.
- Preparing and analyzing commercial mortgage annual reviews including, but not limited to, conducting credit investigations; gathering pertinent information; analyzing financial statements; visiting sites (as required); pricing reviews; updating risk assessments, and recommending required actions.
- Designing, developing and delivering information and/or training sessions on AC/LSM products and services to clients, referral sources, and credit union employees. Identifying educational gaps of LSM commercial staff, and researching, recommending and delivering and/or coordinating the delivery of necessary training to close gaps.
- Promoting and cross-selling existing and potential clients and/or referral sources on the benefits of utilizing other LSM and/or credit union products and services. Maintaining regular contact with credit unions and referral sources to promote and cross-sell on the benefits of LSM products and services and to provide support to credit unions in their development of commercial business opportunities.
- Providing input into the development of the annual department business plan and budget. Implementing assigned sections of the plan, monitoring results (e.g. new business targets) and taking corrective action as appropriate.
- Completing other duties and projects as assigned.
This position requires occasional travel.
The ideal candidate for this position will have successfully completed a Bachelor’s Degree with an emphasis in Finance or a related discipline plus have a minimum of six years Commercial Lending lending/underwriting experience; or equivalent combination of training and experience.
The successful candidate will have the following skill set:
- Strong oral and written communication skills
- Strong interpersonal skills
- Demonstrated proficiency in the use of Microsoft Office applications (Word, Excel, and Outlook)
- Strong analytical skills
- Proven ability to perform mathematical calculations including calculating interest, ratios, percentages, etc.
- Proven ability to read and analyze financial statements, particularly regarding various measures of profitability and cash flow, balance sheet strength and valuation of assets as collateral
- Demonstrated working knowledge of the commercial and residential mortgage process: underwriting, credit analysis, property appraisal, security, disbursement, closing and accounting entries
- Demonstrated proficiency in the use of Microsoft Office applications (Word, Excel, PowerPoint)
- Proven sound lending judgement
The successful candidate will also demonstrate strong competencies in:
- Change Leadership
- Team Leadership
- Results Orientation
- Listening, Understanding and Responding
- Building Relationships & Partnerships
- Strategic Orientation
- Developing Others
This is a permanent full-time position and the salary level is currently under review. Atlantic Central offers a competitive benefits package as well as the opportunity to participate in the Performance Sharing Incentive Plan.
Applications will close on February 24, 2017.
Interested candidates should forward their résumé, including salary expectations, in confidence, to:
Human Resources Department
6074 Lady Hammond Road
Halifax, NS B3K 2R7
(When sending applications by e-mail, please send in MS Word format)