Job Title: Director of Credit Underwriting

Location: Toronto, ON (Hybrid/Flexible Remote)

Reports to: President

About Key

Key (www.keyown.com) is an innovative proptech company with a real estate impact fund investing in attainable housing across Canada. At Key, we're on a mission to put Canadians on the path to homeownership without a burdensome down payment or mortgage. Backed by mission-driven investors and powered by technology, we're growing rapidly and looking for smart, values-aligned talent to help scale our impact.

Position Overview

The Director of Credit Underwriting will lead the development and execution of Key's resident evaluation, credit screening, and credit coaching functions. This is a senior role responsible for credit policy design, risk-based resident adjudication, resident credit improvement programs, and integration of underwriting analytics into our operational processes. As we scale, this leader will balance rigorous credit standards with inclusive, forward-looking evaluations, helping more Canadians move onto a path to homeownership.

What You'll Do

Credit Risk Leadership & Policy Development

• Develop, implement, and maintain Key's resident underwriting framework, including credit criteria, affordability modeling, and eligibility thresholds.
• Translate traditional 5 C's of credit (Capacity, Capital, Collateral, Character, and Conditions) into resident-centric, mortgage-adjacent screening practices.
• Lead the continuous refinement of credit policies to reflect real-time portfolio trends, market risks, and investor needs.
• Collaborate with the Director of Operations to align underwriting with operational workflows and resident lifecycle stages.

Resident Application Adjudication & Oversight, Resident Credit Programs

• Oversee adjudication of all resident applications, using a combination of alternative data, bank transaction analysis, and traditional credit files.
• Ensure all assessments are aligned with Key's credit risk appetite and scalable for automation.
• Use discretion and judgment to approve applications that may fall outside strict guidelines but align with portfolio risk thresholds and Key's impact mandate.
• Implement a program for failed applicants to receive feedback and active guidance to improve their standing over time and reapply.
• Implement systems to improve resident credit scores over the course of their occupancy and ensure that they are on track to qualify for a take-out mortgage at the end of their term (including a potential pre-qualification program with the CMHC).
• Train and oversee a small team of credit screeners, analysts and coaches as volume grows.

Portfolio Monitoring & Reporting

• Monitor overall resident credit quality and report on credit trends and potential exposure to senior management.
• Partner with the CFO to ensure alignment between resident quality and overall fund performance.
• Maintain credit KPIs, including default risk flags, DTI trends, buyout success rate, and resident improvement metrics.

Compliance & Risk Management

• Ensure all underwriting practices meet internal compliance standards and are resilient to reputational and financial risks.
• Collaborate with the CFO on regulatory interpretations and process audits.
• Stay current on regulatory and policy developments relevant to credit, housing, and fintech innovation.

Qualifications

Required Experience

• Minimum 7+ years in residential credit underwriting, mortgage lending, or related risk leadership roles.
• Experience in alternative lending, fintech, or alternative ownership models is a strong asset.
• Demonstrated ability to make sound risk decisions in high-volume, fast-moving environments.
• Proficiency with credit bureau data, income verification (T4s, bank statements), and bank transaction interpretation.

Skills & Attributes

• Strong analytical thinker with the ability to evaluate both quantitative and qualitative risk factors.
• Skilled communicator who can justify credit decisions to both internal teams and external investors.
• Highly organized, systems-oriented, and capable of scaling a credit function for national operations.
• Comfortable navigating ambiguity and developing new frameworks from first principles.
• Passion for inclusive housing access and belief in responsible paths to homeownership.

Why Join Key?

• Shape the Future of Housing: Be a leading voice in building Canada's most innovative homeownership platform.
• Mission-Driven: Work for positive socioeconomic impact while applying rigorous credit and investment principles.
• Ownership & Growth: Equity options and personal development in a scaling startup.
• Flexibility: Choose where and how you work—remote-friendly with strong collaboration systems.
• Supportive Leadership: Collaborate closely with a visionary, experienced executive team.

How to Apply

If you're ready to use your underwriting skills to help transform the landscape for future homeowners, submit your resume and a brief cover letter explaining why you're excited to join Key. We look forward to building a better Canada with you.