Manager Commercial Real Estate Lending
League Savings and Mortgage
Halifax, NS | Moncton, NB | Charlottetown, PE | Saint John, NB
Job Details:
Benefits:
League Savings and Mortgage (LSM) Company provides tailored financial solutions designed to meet the unique needs of our customers. Backed by a dedicated team of financial professionals, we ensure every solution aligns with our customers' personal and business goals. With nearly six decades of experience and a legacy of success, League Savings remains a trusted partner-delivering competitive solutions and results that count.
What We offer:
- Flexibility and balance, working from home.
- Working with a dynamic, knowledgeable and community-focused team.
- This is a permanent full-time position with an annual salary range of $125,463 - $147,603
- Competitive, performance-based incentives.
- Competitive benefit package including a Flexible Health and Dental Plan.
- Group Savings for Retirement Options up to 8% of base earnings with TFSA option. Matching GSRP contribution by the Company.
- Generous paid time off including Me Time, Vacation, Sick Days, and Volunteer days.
- Tuition reimbursement, training, and personal development.
- Perks such as reduced rates on employee loans/mortgages, plus wellness and social committees.
If this sounds like a fit for you, consider joining our team as Manager Commercial Real Estate Lending.
Working with and leading a professional and dedicated team, the Manager Commercial Real Estate Lending contributes to the management and growth of the commercial mortgage and construction loans portfolios in line with company and individual goals, providing support, advice and guidance to new/existing clients, credit unions and other Commercial Lending staff regarding the structure of commercial mortgage lending throughout the approval process.
This role provides service to Atlantic Canada,with the flexibility of working from home, responsibilities include:
1. Supervises and coordinates the work of the Commercial Relationship Managers and Commercial Analysts.
2. Actively contributes to the business development activities of LSM by:
- Developing and maintaining a network of relationships with LSM partners, borrowers and other stakeholders including direct credit union, and other referral sources (e.g., brokers, accountants, etc.).
- Researching the market to determine active property developers / investors.
- Conducting cold calls to discuss potential funding opportunities.
- Reviewing potential new business opportunities including negotiating terms, conditions and deal structures, conducting a comprehensive analysis of the applicant's financial statements, cash flow, business performance history, profitability and personal net worth of shareholders to assess credit worthiness and compliance in accordance with LSM's and/or AC's commercial lending policies and guidelines, and preparing credit applications prior to submitting for adjudication.
- Supporting and guiding the Commercial Relationship Managers in their business development activities.
3. Proactively manages LSM's commercial loan portfolios, including:
- Ensuring annual reviews on all commercial accounts are completed when due.
- Ensuring all accounts are operating as authorized.
- Ensuring early intervention on delinquent accounts to find the most effective method to secure payment. Initiates appropriate collection activity to recover principle, interest, and security. Initiates legal action and maintains liaison with legal counsel on foreclosures and other issues.
- Handling client inquiries, changing loan terms and conditions.
4. In conjunction with the Director, Commercial Lending, conducts detailed analysis of potential Canada Mortgage Bond (CMB) transactions and prepares credit submissions to include a recommendation to LSM's Executive Committee.
5. Performs training and development activities including, but not limited to:
- Designs and delivers information and/or training sessions that are aligned with departmental and company goals to clients, referral sources, and credit union employees, on LSM mortgage products and services.
- Identifies educational gaps of LSM commercial staff and researches, recommends and delivers or coordinates the delivery of necessary training to bridge those gaps.
6. Promotes and cross-sells existing and potential clients and/or referral sources on the benefits of utilizing other LSM and/or credit union products and services. Maintains regular contact with credit unions and referral sources to promote and cross-sell on the benefits of LSM products and services and to provide support to credit unions in their development of commercial business opportunities.
7. Reviews and adjudicates commercial mortgage and construction loan applications within approval limits from LSM and participates in the company's credit committees, providing adjudication on new applications for LSM and regional credit union applications.
8. Reviews, provides feedback, and approves the annual reviews prepared by the Commercial Analysts.
9. Reviews various delinquency reports including delinquency, property held for resale, non- performing loans, CMHC report on delinquency. Recommends write-off and following up on written off loans to monitor opportunity for recapture. Ensures monthly reporting for the appropriate committees. Prepares claims to CMHC, initial and supplementary as required.
10. Provides input into the development of the annual department business plan and budget. Implements assigned sections of the plan, monitors results (e.g. new business targets) and takes corrective action as appropriate.
As the ideal candidate you will have successfully completed a bachelor's degree with an emphasis in Finance or a related discipline plus have a minimum of seven years Commercial Lending lending/underwriting/adjudication experience; or equivalent combination of training and experience. Previous supervisory experience required.
- Strong analytical skills
- Proven ability to perform mathematical calculations including calculating interest, ratios, percentages, etc.
- Proven ability to read and analyze financial statements, particularly regarding various measures of profitability and cash flow, balance sheet strength and valuation of assets as collateral
- Demonstrated working knowledge of the commercial and residential mortgage process: underwriting, credit analysis, property appraisal, security, disbursement, closing and accounting entries
- Demonstrated proficiency in the use of Microsoft Office applications (Word, Excel, PowerPoint)
- Proven sound lending judgement
- Proven training design and facilitation skills using training techniques to train adult learners
- Demonstrated expert knowledge in CMHC criteria in relation to loan origination and servicing
This position will be based in our Halifax, NS office, and provides services throughout Atlantic Canada, so therefore offers the flexibility to work remotely.
This position requires occasional evening and weekend work.
We are proud to be a Certified B Corporation joining a global movement of people using business as a force for good. We are committed to making business decisions that are in the best interests of our employees, credit unions and their members.
We are committed to providing a work environment that fosters inclusion, value and respect that reflects the diversity of the communities in which we live and serve. We encourage and welcome applications from traditionally underrepresented and equity-seeking groups. All qualified applicants will receive equal consideration; however, priority will be given to Canadian citizens and permanent residents. Should you require any accommodation during the recruitment process or otherwise, please notify us and we will work to meet your accessibility needs.
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