Account Manager, Special Assets

Commercial Credit
Toronto, Ontario

Posted On: September 14, 2021

Account Manager, Special Assets 

DUCA is currently looking for an Account Manager, Special Assets to join our dynamic Commercial Credit department! 

Job Purpose & Summary

The Account Manager, Special Assets is responsible for managing DUCA’s commercial Watch List and Special Assets portfolios, comprised of high-risk loans with potential for credit losses or other irregularities. Key responsibilities include reviewing loan and security documentation and formulating and implementing recovery/restructuring action plans while balancing the objectives of avoiding losses, maintaining DUCA’s reputation, and preserving a satisfactory Member experience.

The Account Manager, Special Assets is responsible for a portfolio of loans with an average exposure of $2MM-$10MM primarily in the real estate sector.

Key Accountabilities & Duties

Watch List Account Management

  • Work with the Director, Special Assets, the Commercial Credit team, and the Commercial Finance team to devise and implement an action plan for DUCA’s Watch List accounts
  • Monitor the loan portfolio under management for annual reviews, delinquency reports, credit expiries, covenant breaches, etc.
  • Update the banking system for watchlist accounts as required
  • Independently liaise with external service providers (e.g., lawyers, property managers, appraisers, environmental consultants, receivers, etc.) to develop strategies for DUCA legal files and power of sale properties
  • Develop relationships with commercial Members experiencing financial hardships and/or other irregularities to devise solutions to bring the accounts back into good standing
  • Become the main point of contact from beginning until debt repayment (sending files to legal counsel, breach and demand letters issuance, agreements/extensions execution, providing instructions to back office about payouts, etc.)
  • Monitor and timely review of all applications/submissions/inquiries
  • Liaise with financial institutions where DUCA has exposure in syndicated loans as Lead or Participant
  • Represent DUCA as needed in legal matters (court appearances, affidavits, examinations, etc.)

Watch List Portfolio Reporting / DNA inputs

  • Maintain an up-to-date Commercial Watch List spreadsheet showing key accounts; enhance reporting format and provide other reports as required
  • Complete monthly / quarterly Watch List updates on all accounts, as needed, outlining key developments and next steps
  • Monitor delinquency reports on a weekly basis and work with Commercial Finance team to remedy situation on non-payments
  • Submit estimates of expected credit losses to DUCA’s Finance department in the commercial allowance report
  • Review the Watch List portfolio for recommended provisions for credit losses and legal reserves
  • Keep track of invoices from third parties retained by Special Assets (legal counsels, financial advisors, trustees, receivers, appraisals, etc.)
  • Assist the Director, Special Assets in preparing relevant portions of the Credit Risk Management Policy and the Commercial Guidelines while collaborating with key stakeholders

Occupational Experience & Education Requirements

  • 5 years’ of Commercial special account management experience with knowledge of restructuring and work-out strategies
  • CIRP or LIT certification is an asset
  • MBA/CFA/Law degree preferred

Knowledge, Skills & Attributes

  • In-depth knowledge of commercial mortgages with experience and familiarity of commercial mortgage documents (commitment letters, appraisals, environmental reports, project monitor reports, etc.)
  • Experience and familiarity with commercial mortgage enforcement processes and documents (notice of sale, receiverships, settlement agreements, forbearance letters, etc.)
  • Proficiency with Microsoft Office products with advanced skills in Excel
  • Critical thinking and problem-solving skills with the demonstrated ability to devise creative solutions in the face of a very fast-paced and dynamic working environment
  • Comfort understanding risk, uncertainty, and making decisions in the face of incomplete information
  • Effective negotiation and business writing skills
  • Strong understanding of accounting standards and financial statements
  • Comfort working closely with a multitude of outside service providers on DUCA power of sale properties

Working Conditions 

Job requires the ability to deal with some challenging clients and Members experiencing financial and other hardships. Must have the ability to remain calm when dealing with challenging Members.

Some travel within Ontario required as site visits are to be conducted on an as needed basis within DUCA’s geographical lending sphere.

Department: Commercial Credit 

Primary Location: 5255 Yonge Street, North York, ON 

Employment Status: Full-Time 

Hours per Week: 38 hours 

Job Grade Level: Seven (7) 

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.

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