VersaBank is a North American bank, federally chartered in Canada and the United States through its wholly owned subsidiary, VersaBank USA National Association. Operating with a branchless, business-to-business model, Versabank uses proprietary, leading-edge technology to address underserved segments of the financial industry with exceptional efficiency and a strong focus on risk mitigation.

VersaBank obtains the majority of its deposits and conducts most of its lending electronically through financial intermediary partners. This model provides significant operating leverage, enabling exceptional efficiency and returns on common equity. In 2024, VersaBank launched its Structured Receivable Program funding solution for point-of-sale finance companies, which has been highly successful in Canada for over 15 years, to the US point-of-sale market, bringing an innovative funding solution to this sector. VersaBank's common shares trade on the Toronto Stock Exchange and Nasdaq under the symbol VBNK. For more information, please visit our website at www.versabank.com.

We are seeking a Relationship Manager to join our VersaBank USA Structured Finance Team. This is an in-office role located in London, Ontario, Canada.

As a Relationship Manager, you will drive the stability and growth of the Bank’s high-performing product offerings within the US Structured Receivable Program. You will leverage your strong client relationship skills and industry knowledge to manage, optimize, and grow assigned accounts. Your responsibilities will include underwriting and structuring new and existing client programs, preparing credit applications, monitoring and reporting on portfolio performance, recommending structural changes, and delivering insightful reporting and analytics to senior management and the Credit department.

Primary responsibilities include:

• Establish and maintain strong relationships and service standards with new and existing clients.
• Recommend new and innovative structures to meet client needs while maintaining credit quality within the Bank’s risk appetite.
• Ensure that new and renewed structured transactions meet satisfactory underwriting standards.
• Ensure that new and renewed structured transactions comply with policies and procedures; that terms and conditions of credit are complied with at all times; and that credit and other risks are adequately identified in credit correspondences and credit structure mitigants are recommended.
• Ensure that accounts are properly managed by monitoring compliance with policies and procedures (including AML/KYC policies), ensuring timely review of accounts, and maintaining approved terms and conditions of credit applications and legal documents.
• Ensure that security and legal documentation requirements have been properly identified and closed with outside legal counsel.
• Ensure aspects of increased risk are identified and communicated.
• Promptly address late payments and maturing credits.
• Communicate to appropriate levels and develop action plans where conditions of deterioration of credit risk have been identified.
• Complete watch list reports on a timely basis as required.
• Collaborate with the internal compliance teams to ensure that any deficiencies are resolved and that funding processes remain efficient and compliant.
• Collaborate with senior team members to assist with other files as required.
• Make recommendations to policies and procedures where either market conditions warrant or operational efficiencies can be realized without increasing business risk.

What we look for:

• Business degree or related post-secondary education.
• CFA, MBA, or equivalent professional designation or experience preferred.
• 5+ years of experience in banking or financial services preferred.
• Prior US experience in structured finance, forward flow facilities, ABS markets, and/or commercial or consumer underwriting is considered an asset.
• Demonstrated strong client relationship and negotiation skills.
• Excellent communication and interpersonal skills.
• Strong analytical ability, including excel modeling capabilities and Power BI reporting.

What we offer:

• A collaborative and team-focused work environment.
• Competitive compensation package, including incentive opportunities and pension supplement program.
• Comprehensive benefits program and fitness program designed to support your well-being.
• Career advancement opportunities, professional development and tuition reimbursement programs.

EEO Statement

VersaBank USA is an equal opportunity employer committed to diversity, equity, and inclusion. We believe that we grow as we actively search for new ideas and welcome different perspectives. We also recognize that the best way we can serve our diverse communities is to have those communities represented in our workforce. VersaBank USA doesn't discriminate against, nor tolerate harassment by any person, including co-workers, supervisors, or third parties, based on any Protected Characteristics. Creating an inclusive and professional environment where employees feel comfortable, safe, and free from inappropriate and disrespectful conduct allows our employees to flourish and effectively collaborate.

Disclaimer

Applicants may be subject to a background check. Employees in this position must be able to satisfactorily perform the essential functions of the position. If requested, VersaBank USA will make every effort to provide reasonable accommodations to enable employees with disabilities to perform the position’s essential job duties. As markets change and the Bank grows, job descriptions may change over time as requirements and employee skill levels evolve. With this understanding, the Bank retains the right to change or assign other duties to this position.

Application Deadline

VersaBank USA accepts applications on a rolling basis. Even if your qualifications don’t match our criteria exactly, we welcome you to apply if you have an interest and feel you would be able to succeed in this position.