Senior Commercial Underwriter

Position Title:

Senior Commercial Underwriter

Division:

Finance and Lending

Department:

Municipal Business Development and Lending

ReportsTo:

Director, Commercial Underwriting

Position Purpose

To provide senior level expertise and leadership in municipal and commercial loan underwriting/structuring; analyze borrowers’ financial standing, credit risk, and business acumen; and support the Director, Commercial Underwriting in the development and oversight of underwriting practices. To assume responsibility for managing complex loans and loans in difficulty.

Key Function and Responsibilities

1. Implement and execute the credit risk management framework and policies.

  • In collaboration with the Director, Commercial Underwriting, implement and execute the credit underwriting framework and policies including adherence to credit limits and controls, efficiency, and customer satisfaction.

 

2. Perform credit assessment of loan applications.

  • Provide leadership and occasional coordination of Underwriters on collaborative arrangements.
  • Act as alternate quality assurance in review of credit proposals on behalf of the Director.
  • Provide coaching, credit structuring guidance to the team of underwriters in loan structuring efforts.
  • Manage complex loans and loans in difficulty.
  • Provide a complete review of new loan applications and coordination with Customer Relations and Loan Operations; conduct loan due diligence; in partnership with Customer Relations negotiate loan terms with clients; review legal documentation and make recommendations on loan structure to the Director for presentation to the Credit Department.
  • Perform a complete review of the applicant's business case, financial history, project risks, management and governance, existing debts and legal structures often for more complex or large loans.
  • Conduct interviews with customer relations, loan operations team members and applicants during the due diligence process.
  • Compile analysis into comprehensive and concise credit applications to be submitted to Credit Department and maintain due diligence checklist and other documentation for communication and collaborative review. 
  • Seek input to and brief the Director on loan recommendations.
  • Collaborate with Loan Operations, Customer Relations in communication with customers.
  • Present recommendations to Credit Department on the best appropriate loan structures to ensure adherence to Infrastructure Ontario credit risk policies and accommodation of client needs.
  • Coordinate credit related activities with Loan Operations and Legal department to ensure timely post-approval customer follow-up, term-sheet approval.
  • Create loan term-sheets and review final loan agreements.

 

3.Monitor borrowers' financial standing, credit risk and loan covenant compliance.

  • Monitor financial performance of existing borrowers and ensure their compliance with applicable loan covenants during the construction advance period.
  • Review, check and test financial covenants and ratios to ensure they are in compliance prior to the borrower converting their construction loan to a long-term debenture.
  • Perform annual reviews on a portfolio of loans to ensure adherence to Infrastructure Ontario's terms and conditions and that risk levels are within established risk tolerance limits
  • Compile research and prepare sector briefing notes on new and existing sectors over time.

Qualifications

Education and Knowledge

  • University degree with Finance, Business, Accounting, Economics concentration and/or other credit risk certifications
  • Well versed in underwriting principles and loan agreements with sound knowledge of credit risk measurements, assessment and methodologies

Experience

  • A minimum of 7 years of direct credit risk and commercial lending transaction experience in a client-facing role, namely commercial real estate and/or infrastructure, with a strong knowledge of lending, credit analysis, control systems and processes.
  • Experience with public sector bodies an asset.

Skills and Personal Attributes

  • Strong acuity for business models and business risks and an ability to conduct financial statement and ratio analysis. Strong attention to details in credit applications.
  • Strategic, critical and abstract thinking towards policy, credit and loan strategies.
  • Clearly demonstrated communication skills. The ability to present complex concepts in a clear, cogent and intelligible manner, both by way of written reports and verbal presentations.
  • Strong interpersonal skills, comfort dealing with external and internal stakeholders and experience managing sensitive customer relations.
  • Ability to coach and mentor others in a collaborative environment including providing guidance and constructive feedback at all levels
  • Management and organizational skills to handle complex loans and lead small teams.
  • Excellent analytical and research skills. Ability to research and synthesize regulatory, legal and other relevant information. Ability to simplify complex financial economic data/ policy initiatives.
  • Collaborative style and ability to work effectively in a team-based environment.