Credit Manager
About the role
Why DUCA?
We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.
We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™.
DUCA (www.duca.com) is distinguished for the following:
- Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
- Competitive rates.
- Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
- Profit sharing among Members.
- Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7
- A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.
A career with DUCA means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.
Credit Manager
DUCA is looking for a Credit Manager to join our growing team!
Job Purpose & Summary
The Credit Manger contributes to DUCA’s risk management program related to the Commercial Lending portfolio, including Term Financing, Construction, and Multi-Unit Residential Building (MURB) portfolios, as assigned. This position is accountable for conducting comprehensive reviews and analysis of new credit deals received from the Commercial Banking team and adjudicating applications within assigned credit limits.
As an experienced credit professional, this position is responsible for quality assurance of the submitted credit requests, portfolio monitoring, reporting, and project coordination, when applicable. The Credit Manager contributes to credit policies, procedures, and guideline updates based on current practices, feedback from first line of businesses, and changing market and regulatory requirements.
The Credit Manager develops strong relationships with Commercial Banking Team and external partners (MURB Counterparties and servicers, etc.) by providing guidance and support for healthy and sustainable growth of commercial loan/lease portfolio.
Key Accountabilities & Duties
- Independently review and adjudicate new credits and annual reviews within assigned credit limits in accordance with DUCA credit policy and guidelines, in a timely manner (the current delegated limit is up to $7.5 Million for new credit and annual reviews and up to $10 Million for connected credit)
- Independently conduct detailed analysis on new credits and annual reviews and provide well-articulated and thought-out recommendations for credit adjudication which exceeds lending authorities for senior management approval
- Approve annual reviews and credit amendments as per delegated lending authority, within assigned credit limits
- Conduct objective review of due diligence documents (e.g. appraisals, environmental reports, lease agreements, industry reports etc.), financial spreadsheets, risk rating, financial models and conduct sensitivity analysis
- Communicate with the Commercial Banking team to seek further information and modifications, if needed; discuss appropriate structuring for the deal and criteria required for approval; ensure that all information is credible, accurate, and relevant, including analysis and evaluation of the technical aspects (e.g., financial analysis, credit terms, structure, and collateral)
- Review and approve commitment letters, construction draw requests, margin, or borrower base calculations
- Discuss, negotiate and resolve credit related issues raised by Lending or other stakeholders
- Perform analysis and provide reporting to management on the commercial credit portfolio; determine performance and risk associated with various segments of the commercial credit portfolio, such as by deal type or industry and make recommendations on potential changes to portfolio make-up
- Keep a team activity log, pipeline report and assist with summary for various communications due at the month end
- Support the due diligence and adjudication of securitized MURB transactions
- Support the monitoring and presentation of Counterparty risks
- Use sound credit judgment to assess, analyze, and present well-written recommendations for adjudication on new deals and annual reviews; communicate effectively with the Commercial Banking team and external counterparties to ensure rationale and decision is clearly understood
- Undertake quality assurance reviews on commercial credit portfolio, track audit action items and coordinate with key stakeholders (lenders, funding team, analysts, adjudication team)
- Support the healthy and sustainable growth of a profitable Commercial Lending portfolio by ensuring the credit granting provided is within DUCA’s prescribed asset quality standards
- Stay abreast of regulatory changes and their impact on existing policies, procedures and guidelines; monitor market conditions and make recommendations for enhancements to existing / creation of new policies, procedures and guidelines
- Coordinate various initiatives and projects for the Commercial Credit team
- Provide additional coverage for Leasing credit reviews, adjudication and analysis as needed
Occupational Experience & Education Requirements
- Undergraduate degree in Business, Finance, or a related field
- Post-graduate degree or other related designation (CFA, FRM, CA etc.) considered an asset
- 5+ years’ work experience in commercial or real estate lending, or related field
- Knowledge of construction finance / CMHC insured MURB financing is an asset
- Minimum 4 years knowledge of financial statement analysis
- Knowledge of or experience with real estate secured lending
Knowledge, Skills & Attributes
- Strong ability to critically assess credit applications and demonstrate sound judgement in risk return trade-off
- Ability to recommend well thought-out solutions to mitigate credit risk
- Ability to articulate complex credit applications into succinct and balanced recommendations
- Knowledge of various due diligence reports (g. appraisals, environmental reports, lease agreements, industry reports etc.)
- Understanding of commitment letters and other legal documents from a credit perspective
- Understanding of term financing, leasing, MURB, and Construction lending practices and end-to-end credit process
- Knowledge of different lending products and sound lending practices
- Knowledge of DNA (banking software) to extract information
- Knowledge of the commercial real estate lending
- Ability to analyze financial statements and perform meaningful financial analysis
- Strong interpersonal and collaboration skills
- Highly developed critical thinking, problem-solving capabilities and excellent project management, planning, organizational, and time management skills with ability to handle complex multi-task assignments
- Strong attention to detail
- Excellent written and verbal communication skills
- Client-focused mindset and drive to do what is best for our Members
- Proficient with Microsoft Excel, Word, and PowerPoint
- Ability to work in a dynamic and fast-paced environment, under pressure and with time-sensitive deadlines
- Collaborates well in a team environment
Working Conditions
Normal office environment
Department: Commercial Credit
Primary Location: Corporate Office - 5255 Yonge Street, North York, M2N 6P4
Employment Status: Full-Time
Hours per Week: 38
Salary: The annual salary range for this position starts at $80,494. Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. Depending on the position, DUCA’s total compensation package may include incentive compensation tied to company and individual performance or other benefits.
Number of Vacancies: 1
DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.
Qualified applicants are encouraged to submit their application. Applications must include a resume.
We thank all applicants but only those considered for an interview will be contacted.
Credit Manager
About the role
Why DUCA?
We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.
We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™.
DUCA (www.duca.com) is distinguished for the following:
- Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
- Competitive rates.
- Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
- Profit sharing among Members.
- Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7
- A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.
A career with DUCA means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.
Credit Manager
DUCA is looking for a Credit Manager to join our growing team!
Job Purpose & Summary
The Credit Manger contributes to DUCA’s risk management program related to the Commercial Lending portfolio, including Term Financing, Construction, and Multi-Unit Residential Building (MURB) portfolios, as assigned. This position is accountable for conducting comprehensive reviews and analysis of new credit deals received from the Commercial Banking team and adjudicating applications within assigned credit limits.
As an experienced credit professional, this position is responsible for quality assurance of the submitted credit requests, portfolio monitoring, reporting, and project coordination, when applicable. The Credit Manager contributes to credit policies, procedures, and guideline updates based on current practices, feedback from first line of businesses, and changing market and regulatory requirements.
The Credit Manager develops strong relationships with Commercial Banking Team and external partners (MURB Counterparties and servicers, etc.) by providing guidance and support for healthy and sustainable growth of commercial loan/lease portfolio.
Key Accountabilities & Duties
- Independently review and adjudicate new credits and annual reviews within assigned credit limits in accordance with DUCA credit policy and guidelines, in a timely manner (the current delegated limit is up to $7.5 Million for new credit and annual reviews and up to $10 Million for connected credit)
- Independently conduct detailed analysis on new credits and annual reviews and provide well-articulated and thought-out recommendations for credit adjudication which exceeds lending authorities for senior management approval
- Approve annual reviews and credit amendments as per delegated lending authority, within assigned credit limits
- Conduct objective review of due diligence documents (e.g. appraisals, environmental reports, lease agreements, industry reports etc.), financial spreadsheets, risk rating, financial models and conduct sensitivity analysis
- Communicate with the Commercial Banking team to seek further information and modifications, if needed; discuss appropriate structuring for the deal and criteria required for approval; ensure that all information is credible, accurate, and relevant, including analysis and evaluation of the technical aspects (e.g., financial analysis, credit terms, structure, and collateral)
- Review and approve commitment letters, construction draw requests, margin, or borrower base calculations
- Discuss, negotiate and resolve credit related issues raised by Lending or other stakeholders
- Perform analysis and provide reporting to management on the commercial credit portfolio; determine performance and risk associated with various segments of the commercial credit portfolio, such as by deal type or industry and make recommendations on potential changes to portfolio make-up
- Keep a team activity log, pipeline report and assist with summary for various communications due at the month end
- Support the due diligence and adjudication of securitized MURB transactions
- Support the monitoring and presentation of Counterparty risks
- Use sound credit judgment to assess, analyze, and present well-written recommendations for adjudication on new deals and annual reviews; communicate effectively with the Commercial Banking team and external counterparties to ensure rationale and decision is clearly understood
- Undertake quality assurance reviews on commercial credit portfolio, track audit action items and coordinate with key stakeholders (lenders, funding team, analysts, adjudication team)
- Support the healthy and sustainable growth of a profitable Commercial Lending portfolio by ensuring the credit granting provided is within DUCA’s prescribed asset quality standards
- Stay abreast of regulatory changes and their impact on existing policies, procedures and guidelines; monitor market conditions and make recommendations for enhancements to existing / creation of new policies, procedures and guidelines
- Coordinate various initiatives and projects for the Commercial Credit team
- Provide additional coverage for Leasing credit reviews, adjudication and analysis as needed
Occupational Experience & Education Requirements
- Undergraduate degree in Business, Finance, or a related field
- Post-graduate degree or other related designation (CFA, FRM, CA etc.) considered an asset
- 5+ years’ work experience in commercial or real estate lending, or related field
- Knowledge of construction finance / CMHC insured MURB financing is an asset
- Minimum 4 years knowledge of financial statement analysis
- Knowledge of or experience with real estate secured lending
Knowledge, Skills & Attributes
- Strong ability to critically assess credit applications and demonstrate sound judgement in risk return trade-off
- Ability to recommend well thought-out solutions to mitigate credit risk
- Ability to articulate complex credit applications into succinct and balanced recommendations
- Knowledge of various due diligence reports (g. appraisals, environmental reports, lease agreements, industry reports etc.)
- Understanding of commitment letters and other legal documents from a credit perspective
- Understanding of term financing, leasing, MURB, and Construction lending practices and end-to-end credit process
- Knowledge of different lending products and sound lending practices
- Knowledge of DNA (banking software) to extract information
- Knowledge of the commercial real estate lending
- Ability to analyze financial statements and perform meaningful financial analysis
- Strong interpersonal and collaboration skills
- Highly developed critical thinking, problem-solving capabilities and excellent project management, planning, organizational, and time management skills with ability to handle complex multi-task assignments
- Strong attention to detail
- Excellent written and verbal communication skills
- Client-focused mindset and drive to do what is best for our Members
- Proficient with Microsoft Excel, Word, and PowerPoint
- Ability to work in a dynamic and fast-paced environment, under pressure and with time-sensitive deadlines
- Collaborates well in a team environment
Working Conditions
Normal office environment
Department: Commercial Credit
Primary Location: Corporate Office - 5255 Yonge Street, North York, M2N 6P4
Employment Status: Full-Time
Hours per Week: 38
Salary: The annual salary range for this position starts at $80,494. Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. Depending on the position, DUCA’s total compensation package may include incentive compensation tied to company and individual performance or other benefits.
Number of Vacancies: 1
DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.
Qualified applicants are encouraged to submit their application. Applications must include a resume.
We thank all applicants but only those considered for an interview will be contacted.