Senior Commercial Funding Officer

Senior Commercial Funding Officer 

DUCA is currently looking for a Senior Commercial Funding Officer for the Commercial Administration team! 

Job Purpose & Summary

The primary responsibility of the Senior Commercial Funding Officer, Commercial Credit is to manage the funding of new loan approvals, construction draws, letters of credit, and various other duties associated with the Commercial loan portfolio.  This role will also provide support to Commercial Administration, Lending, and Analyst teams.

The Senior Commercial Funding Officer acts as primary back-up and works closely with the Manager, Commercial Funding and Administration. This support allows for improved efficiency across the department and helps provide Members and internal/external stakeholders with an impressive and exceptional experience.

Key Accountabilities & Duties

• Process and review loan documentation and fulfill funding requirements for new approval credit, including the ability to fund over $5MM in construction, terms, and syndication deals
• Manage syndicated construction draws, for DUCA led and non-led syndication loans. This includes coordinating with internal and external parties to ensure correct documentation and searches are in place prior to funding
• Review, register, amend, and discharge PPSAs pertaining to various types of loans
• Prepare mortgage loan commitments and various supporting documentation for niche internal products offered
• Review, audit, and track final reports for funded deals
• Review various documentation for corporate entities, legal, and Anti-Money Laundering to ensure DUCA’s risk and compliancy is protected
• Ensure that all funding and AML criteria have been satisfied and confirm that any outstanding conditions are met as per prescribed in the commitment and within deadline
• Converse with Credit/Risk team for various amendments to underwriting and securities throughout post-approval stages to ensure deal is smoothly adhered to
• Co-ordinate with legal counsel for various functions: mortgage commitment letters, security, and Anti-Money Laundering documentation and any additional amendments, negotiations etc.
• Set up, review, and approve all manual reports for syndicated loans to include interest, skims, and share percentage calculations
• Manage internal master syndication report for all led and non-led syndicated loans. Includes ensuring all percentage shares, participation commitments and balances are accurate.
• Coordinate and issue all Letters of Credit for entire commercial portfolio including any amendments and other financial institution issued via RBC on behalf of DUCA
• Manage various internal and external reporting including: Syndication Report for DICO, Letter of Credit Report, Commercial Pipeline Report, Adjudication Tracker and Fees Reconciliation of application and commitment fees
• Liaise and interact with borrowers, lenders, brokers, insurers, external vendors, and other departments to follow up for documentation and respond appropriately to any information requests
• Provide on-going coaching and training to administration and funding team with security documentation; including assumptions, extensions, manual calculations and various business accounts with daily functionality
• Work closely with Manager, Commercial Funding and Administration to complete various projects to organize funding and administration daily. Streamline practices to help evolve and incorporate funding forms and checklists to help facilitate an ongoing improvement for functionality and team work.

Occupational Experience & Education Requirements

• Post-secondary education in Business Administration/Finance
• Minimum 5 years’ experience working in Commercial funding and/or relevant legal/mortgage documentation
• Experience funding complex construction and/or syndicated deals
• Product understanding of commercial loans including mortgages, business lines of credit
• Understanding of required legal and Anti-Money Laundering documentation

Knowledge, Skills & Attributes

• High level proficiency required with using Word and Excel
• Strong time management skills with the ability to effectively manage multiple competing priorities
• Strong communication and organizational skills with attention to detail
• Ability to work independently and perform under pressure within tight time constraints
• Ability to support and liaise with Commercial Credit & Risk Management team for various deals and ongoing functionality
• Highly proficient/knowledgeable with FINTRAC guidelines, AML, and Credit and Funding policies and procedures
• Ability to work in a team environment
• Ability to prioritize and organize workload to meet rigorous turnaround times

Working Conditions 

Normal office environment

Department: Commercial Administration 

Primary Location: Corporate Office - 5255 Yonge Street, North York, ON

Employment Status: Full-Time

Hours per Week:  38

Job Grade Level: Six (6)

About DUCA

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.