Commercial Funding Officer

Commercial Funding Officer

Job Purpose & Summary

The primary role of the Commercial Funding Officer, Commercial Administration is responsible for funding commercial mortgage product types such as purchases, refinances, assumptions, assignments and mortgage receivables while supporting Commercial Administration, Commercial Credit and Lenders.  The incumbent will analyze complicated corporate structures and review legal documentation with a strict adherence to legislative guidelines and Bank established policies.

Key Accountabilities & Duties

• Process and review loan documentation and fulfill funding requirements for new approval Credit, including the ability to fund under $5MM in term loans.
• Assist with syndicated construction draws, for led and non-led syndication loans. This includes coordinating with internal and externals parties to ensure correct documentation, searches are in place prior to funding.
• Review, register, amend and discharge PPSAs pertaining to various types of loans.
• Review, audit and track final reports for funded deals.
• Review various documentation for corporate entities, legal, and Anti-Money Laundering to ensure DUCA’s risk and compliancy is protected.
• Ensure that all funding and AML criteria have been satisfied and confirm that any outstanding conditions are met as per prescribed in the commitment and within deadline.
• Co-ordinate with various legal counsels for various functions: mortgage commitment letters, security and Anti-Money Laundering documentation and any additional amendments, negotiations etc.
• Manage and maintain all syndicated loans reports including manual calculations of interest, skims, and share percentages calculation on all syndicated loans reports.
• Manage various internal and external reporting including: Letter of Credit Report, and fees reconciliation of application and commitment fees.
• Liaise and interact with borrowers, lenders, brokers, insurers, external vendors, and other departments to follow up for documentation and respond appropriately to any information requests.
• Process all bookings and review loan documentation and fulfill funding requirements for all new approval credit for Small Business Loans
• Coordinate issued Letters of Credit for Commercial Portfolio along with Commercial Administration.
• Provide on-going coaching and training to administration team with security documentation; including assumptions, extensions, manual calculations and various business accounts with daily functionality.

Occupational Experience & Education Requirements

• Post-secondary education in Business Administration/Finance
• Minimum 3 years’ experience working in Commercial funding and/or relevant legal/mortgage documentation
• Minimum 3 years’ experience working in Mortgage administration and functionality
• Product understanding of commercial loans including mortgages, business lines of credit, legal and Anti-Money Laundering documentation.
• Ability to work in a team environment
• Ability to prioritize and organize workload to meet rigorous turnaround times

Knowledge, Skills & Attributes

• High level proficiency required with using Word and Excel
• Ability to handle multiple competing priorities
• Good time management skills
• Strong writing and organizational skills with attention to detail
• Ability to work independently and perform under pressure within tight time constraints

Working Conditions

Normal office environment.

Department: Commercial Administration

Primary Location: 5255 Yonge St., North York, ON

Employment Status: Full-time

Hours per Week: 38

Job Grade Level: 5

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 welcomes and encourages applications from people with disabilities. Accommodations will be made upon request for all aspects of the selection process.

Qualified applicants are encouraged to submit both their resume and coverletter. We thank all applicants but only those considered for an interview will be contacted.