Associate Director

Job summary

Oversee underwriting and support analysts while managing complex commercial mortgage transactions, analyzing financial and property information, and recommending loan structures and credit decisions. Coordinate with clients, investors, funders, legal teams, and consultants to advance loans, meet conditions, monitor construction draws, and support the commercial mortgage division.

Job details

We are hiring an Associate Director, Commercial Financing! Reporting To Assistant Vice President, Commercial Financing Full-Time/Part- Time Full-time Salary Range $85,000-$120,000 Posting Date October 5, 2026 Closing Date October 26, 2026 Hours Of Work 8:30 a.m. – 5:00 p.m. Grade Office Location: 16.2 Toronto Great location! Steps away from the main public transit station What We Offer Highly competitive compensation package which includes, base salary, bonus, benefits, and career advancement opportunities! Eligibility for benefits is dependent on the terms of employment The Opportunity The Associate Director contributes to the production and development of the commercial mortgage portfolio by analyzing financial and supporting documents on incoming applications and ensuring information is consistent with internal, insurer and investor policies. The role is specific to CMHC, construction and conventional commercial real estate financing requests. How You Will Contribute Provide oversight and support to more analysts working directly within the team, including reviewing underwriting, credit applications and loan commitments. Ability to handle complex transactions from start to finish with minimal oversight. Work directly with clients and prospects to gather due diligence, advance relationships and recommend appropriate mortgage solutions Make decisions on advancement of loan opportunities, complex structuring and credit Analyze financial information on commercial properties including rent rolls, operating statements and financial/net worth statements, to assist management in determining the appropriate loan size, terms, conditions and pricing Review third party reports including appraisal, phase I/II environmental reports and engineering reports, to determine compliance with investor requirements, product lending and guidelines and loan terms and conditions Review conditions and exception requests and prepare recommendations to credit/investors. Ensures that underwriting procedures are in force at all times and senior management authorizes any exceptions Prepare loan summary including financial analysis and credit documents to assist in the loan approval process Coordinate with Funder, Investor, Legal, and other third-party consultants to ensure loan conditions are met Coordinate with clients and prepare Letters of Interest and Commitment Letters along with managing information flow to ensure smooth loan transactions Develop and analyze construction/development pro-forma as of various multi-unit housing type projects Monitor on-going construction loan draws, cross-referencing budgets, and ensuring applicable undertakings are performed Monitor pending and approved loans and any corresponding fees which includes a review of any fees currently on deposit with First National Assist from time to time in preparation for prospect and existing client meetings Assist in training and mentorship of other team members Perform other duties as necessary to support the goals and objectives of the commercial mortgage division Adhere to policies/procedures to ensure AML requirements are met, when applicable. The Experience You Need Experience in commercial real estate lending is a must Undergraduate Degree and/or MBA with focus in a Finance/ Real Estate related discipline 6-7 years’ experience in a relative commercial real estate role Knowledge of applicable real estate lending regulations is a must Experience in financial analysis (i.e. balance sheet, income statement) Organizational skills to manage several ongoing and competing tasks simultaneously Experience communicating with clients, appraisers, engineers, lawyers, consultants, investors and/or credit committees Strong understanding of legal documentation, ownership structures and AML requirements Preferred experience in CMHC and/or construction finance, development industry, private equity, cost consulting, or accounting with a commercial mortgage focus Familiarity with principles of property valuation and the construction process Advanced PC skills, with an emphasis on Word and Excel High degree of consistent accuracy and attention to detail Able to work with minimum supervision Results oriented and highly motivated self-starter Bilingualism (French, English) an asset Working Environment And Physical Demands Analysis Office environment Periods of high volume with tight timelines Long periods of stationary position/sitting Prolonged periods of repetitive movement (i.e. using a keyboard and mouse) Long periods of time in viewing a computer screen Multi-tasking may include speaking to customers on a telephone call while looking up information on a computer program. Why join First National? Competitive Compensation Comprehensive benefits program (i.e., Health Spending Account, Maternity and Parental Leave Top Up) Extensive training programs to set our employees up for success Modern office environment conducive to collaboration Supportive teamwork culture Opportunities to give back to the communities and work through events focused on a variety of charities Ongoing social events throughout the year The Team You’ll Join Founded in 1988, First National is one of Canada’s largest non-bank lenders. We provide residential mortgages exclusively through the mortgage broker channel and we are Canada’s largest commercial mortgage lender. First National has been consistently recognized as a great place to work and we are proud that our employee engagement feedback is higher than our industry partners. We would like to thank all applications for their interest in this existing vacancy, but only candidates selected for an interview will be contacted. Artificial Intelligence is not used in our recruitment or hiring process for this role. First National is proud to be an equal opportunity employer and is committed to diversity and inclusion regardless of race, color, religion, national origin, age, gender identity, physical or mental disability, sexual orientation and any other category protected by law. First National supports requests for accommodation from applicants with disabilities; please contact Human Resources at accessibility@firstnational.ca should you need an accommodation at any point in the recruitment process. #FNLOON

What you’ll do

Oversee underwriting and support analysts while managing complex commercial mortgage transactions, analyzing financial and property information, and recommending loan structures and credit decisions. Coordinate with clients, investors, funders, legal teams, and consultants to advance loans, meet conditions, monitor construction draws, and support the commercial mortgage division.

Requirements

Requires a degree and/or MBA focused on finance or real estate, 6–7 years of relevant commercial real estate experience, and strong knowledge of lending regulations, financial analysis, legal documentation, ownership structures, and AML requirements. Experience with CMHC or construction finance is preferred, along with advanced Word and Excel skills, strong organization, accuracy, and the ability to work independently.

Benefits

• Bonus
• Health Spending Account
• Maternity and Parental Leave Top-Up
• Training Programs
• Career Advancement Opportunities

Listed skills

• Attention to detail · Preferred
• Microsoft Excel · Preferred
• Microsoft Word · Preferred
• Financial analysis · Preferred
• Client Relationship Management · Preferred

Other relevant skills

Identified from the job description. Confirm important requirements above.

• Commercial Real Estate Lending
• Commercial Mortgage Underwriting
• Financial Analysis
• Credit Analysis
• Loan Structuring
• Client Relationship Management
• Due Diligence
• Construction Finance
• Construction Loan Monitoring
• Property Valuation
• Legal Documentation
• Anti-Money Laundering Compliance
• Microsoft Word
• Microsoft Excel
• Team Mentoring
• Attention to Detail

Job areas

• Finance & Accounting
• Management & Leadership
• Sales
• Construction

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