Senior Account Manager, Special Assets

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 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 DUCA 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. 

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Senior Account Manager, Special Assets

DUCA is looking for a Senior Account Manager, Special Assets to join our growing team! 

Job Purpose & Summary

The Senior 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 Senior Account Manager, Special Assets is responsible for a portfolio of loans with an average exposure of $2MM-$10MM, with accounts of higher value assigned as needed.

Key Accountabilities & Duties

Watch List Account Management (75%)

• Use sound judgment to actively manage the assigned special asset loan portfolio on a day-to-day basis
• 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
• 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 (25%)

• Update the banking system for watchlist accounts as required
• 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

• 3 years’ of Commercial lending and/or credit experience
• Knowledge of restructuring, special account management, and work-out strategies an asset
• CIRP or LIT certification 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.)
• Demonstrated sound judgment and decision-making skills
• 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.

 

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Department: Commercial Credit 

Primary Location: Corporate Office - 5255 Yonge Street, North York, M2N 6P4

Employment Status: Full-Time 

Hours per Week: 38

Salary: The annual salary range for this position starts at $80,494. 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

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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.