Senior Commercial Administrator (12 Month Contract)

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. 

Senior Commercial Administrator (12 Month Contract)

DUCA is looking for a Senior Commercial Administrator to join our growing team! 

Job Purpose & Summary

The primary responsibility of the Senior Commercial Administrator is to manage the ongoing administration associated with the Commercial loan portfolio, focusing on Corporate Finance, Syndication Management as well as supporting projects and new initiatives. The Risk associated with the size and complex nature of this portfolio demands a high degree of precision and efficiency on servicing and administration, while providing support to the Commercial Funding, Credit, Risk, Lending, and Analyst teams respectively. This support allows for improved efficiency across the department and helps provide Members and Syndicate Partners with an excellent experience. The Commercial Credit Operations group is focused on being a high performing team through continuous improvement.

Key Accountabilities & Duties

• Process loan documentation and fulfill condition precedent requirements for Renewals, Extensions, Assumptions, Breach Letters and Annual Reviews for Commercial loans, Business lines of credit, and Letters of Credit
• Prepare information statements, payouts, discharge documentation, and administer partial principal reductions and release of loan security for review and approval by the Credit Risk Team. Coordinate documentation to solicitor(s) and prepare paid out files for shipment to Iron Mountain
• Coordinate execution of various legal post-funding requirements for Corporate Finance Team and DUCA acting legal counsel (i.e.: Easements, No-interest letters, Acknowledgement and Directions)
• Manage and maintain up-to date processing report for required manual transactions including syndications on banking system
• Manage Personal Property Security Act (PPSA) Report and register PPSA renewals
• Reconcile and process debit advice for syndications and letters of credit on banking system and through Central 1 account with DUCA
• Keep updated syndicated led and non- led loans master spreadsheets, syndication reports including manual calculations of interest, skims, and share percentages calculation on various syndicated loans
• Assist, when required, with maintaining monthly insurance expiry report, collect past due insurance policies by contacting brokers and follow up with cancellations policy until insurance is up to date
• Process draws and payout requests for all mortgage receivable financing facilities
• Manage and develop controls to ensure the integrity of the mortgage loan system and the accuracy of information as required by Credit Operations and Credit Risk team(s)
• Assist Special Accounts and Lending Team(s) with administration of the watchlist portfolio by updating the banking system
• Liaise and interact with other financial institutions, lenders, brokers, insurers, external vendors, and other departments to follow up for documentation and respond appropriately to any information requests
• Work closely with management to support various projects to organize credit and banking system

Occupational Experience & Education Requirements

• Post-secondary education in Business administration/Finance considered an asset
• Minimum 2 years’ experience working in Commercial administration in the Financial Services sector, with Credit Union experience considered an asset
• Understanding of commercial loans including mortgages, Lines of credit, and Letters of Credit
• High level proficiency required with using Word and Excel

Knowledge, Skills & Attributes

• Ability to handle multiple competing priorities
• Good time management skills with ability to meet tight deadlines
• Strong writing and organizational skills with excellent attention to detail
• Ability to work in a team environment
• Ability to prioritize and organize workload to meet stringent turnaround times
• Strong commitment to high level of customer service
• Knowledge of mortgage-backed securities considered an asset

Working Conditions

• Normal office environment

Department: Commercial Credit Operations

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

Employment Status: Contract- Full-Time

Hours per Week: 38

Salary: The annual salary range for this position is $46,162 to $57,703. Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. This position is also eligible for discretionary bonuses.

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.

Our hiring process includes AI screening for keywords and minimum qualifications. Talent Acquisition Partners review all results.

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.