Credit Manager, Business Banking

Retail Credit
Toronto, Ontario

Posted On: January 27, 2025

Why DUCA?

We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.

We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™.

DUCA (www.duca.com) is the fastest organically growing large Credit Union in Canada distinguished for the following:

Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
Competitive rates.
Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
Profit sharing among Members.
Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7
A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with one of Canada’s fastest growing credit unions means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.

Credit Manager, Business Banking

DUCA is hiring a Credit Manager, Business Banking to join our growing team!

Job Purpose & Summary

The Credit Manager, Business Banking (also known as Small Business Banking in the financial services industry) is be accountable for adjudicating small business Member loans through sound credit granting principles. Credit decisions will be kept within the parameters of DUCA’s risk appetite and tolerances, and comply with DUCA’s policies, procedures, and guidelines.

By developing strong relationships with both the Business Banking Team and external partners, this position ensures Member satisfaction and support the healthy and sustainable growth of DUCA’s Business Banking loan portfolio.

As a senior credit professional, this position is also involved in monitoring market conditions and any regulatory changes that require changes to credit policies, procedures, and guidelines related to Business Banking.

Key Accountabilities & Duties

Review and adjudicate credit applications and transactions within assigned credit limits in a timely manner
Provide independent, objective reviews and approvals to credit applications and other matters which have been agreed to and/or recommended by the Business Banking Team
Review all Business Banking 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 Business Banking Management 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
Communicate with Business Banking Team 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 the Business Banking Team
Support DUCA’s Business Banking Team to ensure Member satisfaction
Support the healthy and sustainable growth of a profitable Business Banking loan portfolio by ensuring the credit granting provided is within DUCA’s prescribed asset quality standards
Contribute to the development and implementation of sound Business Banking guidelines and policies
Monitor market conditions and make recommendations for enhancements to existing policies, procedures and guidelines
Assess the impact of regulatory changes to existing policies, procedures and guidelines
Provide support in strategic projects, policy and process improvements initiatives related to Business Banking
Provide additional coverage for Specialized Lending credit reviews, adjudication and other matters related to investment lending

Occupational Experience & Education Requirements

Bachelor’s Degree in business or a related field; or equivalent work experience with small businesses within the financial industry
Pursing or having a CFA/CGA/MBA is considered an asset
Minimum 4-6 years Business Banking lending experience is required
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 applications into succinct and balanced recommendations
Understanding of commitment letters and other legal documents from a credit perspective
Financial Statement analysis experience
Understanding of Business Banking lending 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

Working Conditions

Normal office environment

Department: Retail Credit

Primary Location: Corporate Office

Employment Status: Full-time

Hours per Week: 38

Salary: The annual salary range for this position starts at $78,149. Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. Depending on the position, DUCA’s total compensation package may include incentive compensation tied to company and individual performance or other benefits.

Number of Vacancies: 1

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 a resume.

We thank all applicants but only those considered for an interview will be contacted.