Senior Officer, Administration - Specialized Lending

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 Officer, Administration

DUCA is looking for a Senior Officer, Administration to join our growing team! 

Job Purpose & Summary

The Senior Officer, Administration (Specialized Lending) will fulfill day-to-day operations regarding all aspects of credit up to the point of funding for Specialized Lending. The incumbent will process credit requests for Investment Loans and Margin Secured Lines of Credit, margin accounts, gather information and prepare preliminary review documentation in support of annual reviews, calculate the payment of trailers to advisors and overrides to MGAs and investment dealers; and provide ongoing advisor and Member service interactions via phone and email in the spirit of service excellence.

The Senior Officer, Administration skillfully and tactfully manages internal and external stakeholder relationships, fulfilment of critical, time-sensitive processes and ongoing support of advisors and related parties. As a specialist in credit administration surrounding Specialized Lending products and services, the incumbent assists in the development and refinement of administrative processes and the testing and implementation of new products.

Key Accountabilities & Duties

• Develop contacts, obtaining policy summaries and illustrations from insurance companies
  • Develop a team-player approach with third party contacts, following up regularly, but respectfully, building relationships over time & learning how representatives of each organisation prefer to correspond (email, fax, mail)
  • Make recommendations to Senior Manager, Administration and Product Director for improving all aspects of this business process
• Prior to a request to Credit Risk for funding:
  • Verify the completeness of all collateral security documentation, including where appropriate: application forms, guarantees, Solicitor’s Letter of Opinion, priority assignment of life insurance policies, revocability of beneficiaries on life insurance policies and Assignments of Life Insurance Policies
  • Register collateral security on PPSA within urgent timeframes
  • Verify conditions precedent are met prior to account funding, including confirmation of security values, receipt of all relevant corporate governance documentation (e.g. Certificate of Status, Certificate and Agreement re: signing authorities, Certificate of Incorporation)
  • In coordination with Credit Risk, develop a check-list for all items which must be in place prior to funding
• Update, verify, report and action of monthly margining of investment loan portfolio, including email communications to advisors regarding any accounts which are out of monthly margin and immediate notification to Credit Risk.
• As per instructions from Credit Risk, call &/or email Members to redress margin breaches, while maintaining a high degree of professionalism, understanding and without sacrificing service excellence.
• Calculate trailer fee payments to independent advisors and override payments to MGAs and dealers; and instruct Accounts Payable to process payments, along with detailed supporting documentation.
• Interact professionally and deliver an experience of service excellence to advisors and Members via phone and email with respect to:
• Account updates (increases, decreases, payouts)
• Margin reporting (Q&A with advisors and Members)
• Account balance inquiries
• Interest payments and interest payment reporting for tax purposes
• Details, timing and trouble-shooting regarding the payment of trailer fees to advisors and overrides to dealers and MGAs.
• Support the Senior Manager, Administration in the development and refinement of administrative processes, identifying opportunities and making recommendations to improve the efficiency and effectiveness of all administrative activities.
• Relative to assigned relationships with Senior Manager(s), Portfolio Management, track annual review status for all accounts…
  • Providing monthly advanced notice of reviews due
  • Obtaining and providing Senior Manager updated personal &/or corporate financial statements from advisors
  • Obtaining (with rigorous follow up) and providing Senior Manager updated life insurance illustrations and policy summaries from insurance carriers
  • Reporting overdue reviews to the Senior Manager, Administration for escalation
• Produce reports that provide Sales and Portfolio Management team members with insights that enable them to coach their teams to maximize product sales and fee income, and to minimize Member experience issues and revenue leakage.
• Participate in new product development, testing, and development and implementation of efficient end-to-end business processes that leverage technology enablers to ensure all new products can be operationalized to deliver a superior Member experience while mitigating risk to DUCA.
• Under the guidance of the Senior Account Manager, Specialized Lending, prepare lending requests for Investment Loans and Margin Secured Lines of Credit and submit for approval to Credit Risk.

 Occupational Experience & Education Requirements

• University degree or equivalent work experience in Business Administration
• Minimum 5 years of administrative experience working with retail and corporate lending and estate settling
• Experience with all aspects of credit fulfillment (collateral security, insurance assignments, PPSA registrations) process for personal and business lending
• Administrative experience supporting Specialized Lending products, secured by non-registered investments and the Cash Surrender Value of permanent insurance policies would be an asset

Knowledge, Skills & Attributes

• Knowledge of retail and commercial lending products
• Strong computer skills including MS Office
• Analytical and problem-solving skills with the ability to reconcile data, identify root causes of problems, recommend approaches, and determine potential solutions.
• Excellent written, verbal, and interpersonal skills
• Proficient with Excel
• Ability to deal with Member complaints and respond appropriately
• A proactive, self-manager able to work on multiple initiatives at the same time and manage to commitments and deadlines
• Knowledge of Estates and related payment processes
• Knowledge of Specialized Lending products and business ecosystem, including MGAs, insurance companies, MFDA & IIROC dealers and wealth advisory firms would be an asset
• Independent and highly motivated
• Effective team player and ability to work well within a group setting.

 Working Conditions

Normal office environment.

Department: Specialized Lending 

Primary Location: Kitchener Office - 4195 King Street E, Unit 110, Kitchener, Ontario N2P 0C1

Employment Status: Full-Time

Hours per Week: 38

Salary: The annual salary range for this position is $69,956 to $87,445. Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. This position may be eligible for discretionary bonuses.

Number of Existing 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.