Manager, Commercial Credit
Manager, Commercial Credit
DUCA is currently looking for a Manager, Commercial Credit to join our dynamic team!
Job Purpose & Summary
The Manager Credit will be accountable for adjudicating commercial loans while staying within the parameters of DUCA’s risk appetite and tolerances, and complying with DUCA’s policies, procedures and guidelines while using sound credit granting principles. The incumbent will monitor the commercial borrowing portfolio and will oversee the transactional credit function for DUCA’s Commercial Lending team. By developing strong relationships with both the Commercial team and external partners, the Manager, Credit will ensure client satisfaction and growth of DUCA’s commercial loan portfolio. As a credit professional, the Manager, Credit will be also involved in various departmental initiatives to improve credit policies and processes.
Key Accountabilities & Duties
- Review and adjudicate credit applications and transactions within assigned credit limits in a timely manner. The current delegated limit is $3.75 Million for new credit and $7.5 Million for annual reviews
- Provide independent, objective reviews and approvals to credit applications and other matters which have been agreed to and/or recommended by the Commercial Account Managers
- Review all commercial loan applications and reviews prior to submission to senior management, to ensure the completion of due diligence and adherence to DUCA’s policies and guidelines
- Provide decisions and approvals on adjudicated credit transactions/applications and communicate effectively with Commercial Account Managers to ensure rationale and decision is clearly understood
- Review commitment letters and draw requests to ensure credit terms and conditions are respected.
- Write succinct credit memos or credit announcements to communicate credit perspective and rationale for new credits and credit extensions
- Maintain credit review lists and ensure they are delegated to the Credit Analysts for completion
- Communicate with Commercial Account Managers about specific credit applications and transactions to seek further information and modifications, if needed. Discuss appropriate structuring for the deal and criteria required for approval. Ensure that all information is credible, accurate, and relevant, including analysis and evaluation of the technical aspects (e.g., financial analysis, credit terms, structure, and collateral)
- Respond to and resolve escalated issues raised by Commercial Account Managers
- Support DUCA’s Commercial Team to ensure member satisfaction and growth of a profitable commercial loan portfolio while ensuring the credit granting provided is within DUCA’s prescribed asset quality standards
- Recommend best practices and provide training and information sessions to Credit Analysts on new initiatives and procedures
- Provide support in strategic projects, policy and process improvements initiatives related to Commercial Credit
Occupational Experience & Education Requirements
- Bachelor’s Degree in business or a related field; or equivalent work experience in commercial lending within banking industry
- Pursing or having a CFA/CGA/MBA is considered an asset
- Prior commercial adjudication experience is an asset
- Minimum 4-6 years experience in a commercial lending underwriting / adjudication capacity
- Minimum 4 years knowledge of financial statement analysis
Knowledge, Skills & Attributes
- Sound credit judgement. Ability to understand the risk return trade-off and come up with well thought-out solutions to mitigate credit risk
- Ability to articulate complex credit application into succinct and balanced recommendation
- Knowledge of various due diligence reports related to real estate financing (e.g. Appraisals Report, Environmental reports, Building Condition Reports etc.)
- Understanding of commitment letters and other legal documents from a credit perspective
- Financial Statement Analysis experience
- Understanding of commercial banking practices and end-to-end credit process
- Analytical skills and attention to details
- Problem-solving capabilities and excellent organizational and time management skills
- Proficiency with MS Office Suite of products
- Experience working with a banking software
Department: Commercial Credit
Primary Location: 5255 Yonge Street, North York
Employment Status: Full-Time
Hours per Week: 38
Job Grade Level: Eight (8)
DUCA exists to help people do more, be more and achieve more with their money and their lives. We’re driven by a co-operative philosophy that puts our Members (and Owners) at the centre of every decision we make, gives them a voice in how we’re run, and rewards them for their loyalty by sharing our profits.
At DUCA, we’re dedicated to creating a positive environment where our employees have growth and development opportunities, a healthy work/life balance, opportunities to give back to the community, and a focus on doing what is right for our Members. DUCA offers a competitive total compensation package including base salary, a short-term incentive (bonus) program, a comprehensive benefits program, pension plan, and employee banking benefits.
DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.
Qualified applicants are encouraged to submit their application. Applications must include both a resume and cover letter.
We thank all applicants but only those considered for an interview will be contacted.