Manager, Commercial Credit Administration

Alterna Savings - Toronto, ON (25 days ago)

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Scope of Position

The incumbent’s primary focus is to manage the daily operation of the department’s loan administration activities and to work with account management staff and the Commercial Services leadership team to provide effective “Service & Fulfillment” for Alterna’s Commercial and Community Business portfolio. The role is essential to ensure the department’s performance agreement is met and/or exceeded consistently through ongoing coaching, mentoring and maximizing staff resources.

The Manager provides support in transaction and portfolio administrative matters to the account management staff to enable them to focus on other areas of accountability such as risk assessment and sales which contribute directly to the economic profit of the department. The role requires the ability to exercise effective and efficient problem solving and creative thinking.

Major Responsibilities

Manage the daily operation of the department’s credit administration activities
4-5 Direct reports (CSSOs)
Directs, develops and maintains an inclusive and co-operative team
Provides leadership to enhance the employee experience and create a performance-driven culture; recommends and provides where necessary, appropriate coaching and mentoring
Recruits and develops appropriate personnel resources and competencies, to ensure the desired growth of the team
Determines standards of performance and reviews performance against pre-determined criteria through the employee appraisal
Ensure compliance of policy (i.e. Credit Policy & Commercial Operating Credit Policy) and operational procedures within transactions and department operations.
Ensures adherence to departmental service levels, credit policies, commercial operation credit policies, including but not limited to the funding process, FINTRAC and AML requirements and other legal/regulatory, requirements as defined.
Develop and maintain loan administration policies, procedures, and corporate directives applicable to loan processing.
Responsible for ensuring that all supporting documents and pre-disbursement conditions have been received and satisfied prior to advancing funds. Co-ordinates the closing process.
Ensure that Internal and external audit deficiencies, as they relate to loan administration, are properly addressed.
Liaise with account management for any outstanding conditions for loan disbursements.
Liaise with external legal counsel for and insurance consultant for loan disbursements.
Ensure the accurate programming of all loan advances onto the banking system.
Following a loan disbursement, complete an audit and ensure compliance of all policies & procedures.
Preparation of client/member welcome letter, provision of amortization schedule, etc.
Monitor and ensure appropriate follow-up action on delinquencies and unauthorized overdrafts;
Oversee follow-up of Property Insurance, Taxes and PPSA registrations/renewals.
Oversee the preparation, review, and verification of department generated reports (Renewals, Reviews, Connected, Loan Out of Order Report, Delinquencies, Overdrafts), for credit portfolio and risk management.
Work with the Manager, Community Business Banking and branches, to jointly monitor account activity and conduct annual /periodic reviews for the cannabis accounts.
Work with the Manager, Community Business Banking to complete business account analysis, EFT and account profitability of business accounts.
Implement and operate systems to identify and mitigate operational risk issues, including acting as the department’s designated anti-money laundering officer.
Ensure security discharges are processed accurately and in a timely manner.
Identify and implement methods of improving departmental efficiencies that contribute to improve delivery of quality service while meeting member needs and accommodating loan growth.
Assist the VP and/or Director of Commercial Services with portfolio management and various other loan administrative duties, as assigned and when required.
General office management (distribution of partner referrals. manage attendance schedule, supplies, etc.), and special projects as assigned by department leadership.

Expectations/Outcomes

Funding/Loan disbursements to be accurately prepared and processed 3 days prior to the funding/loan disbursement date
Accurate and timely completion of all loan administration activities
Member focused “Service & Fulfillment” and a “Solutions provider” mindset.
Sound knowledge and compliance with Alterna’s credit Policies and Procedures.
Identify referral opportunities and adopt a holistic sales and service approach in all external dealings, to facilitate increased Alterna “share of wallet” penetration with members to enable identification of sales and referral opportunities.
Demonstrates resourcefulness, creativity, innovation, and a helpful attitude, while striving to meet the needs of members / clients, within established Alterna risk tolerances.
Develops and maintains a spirit of teamwork and co-operation.
Undertakes or supports special projects per departmental and / or organizational priorities and resourcing, as required.
Demonstrate accountability and ownership for job expectations outlined herein.

Qualifications

Education / Certifications / Experience

Post-Secondary education combined with at least 7 years of related experience in a financial institution or an equivalent combination of education and experience
5 years direct experience in a commercial (mortgage) lending environment with direct borrower/member contact or related experience
Experience at leading a team

Knowledge / Skills

Solid understanding of commercial loan products and loan administration processes
Good knowledge of the banking system
Strong computer and MS Excel skills is essential

Competencies

Willingness to pursue additional learning programs
Proven track record in service delivery
Sound decision making abilities and self-confidence
Effective communication and time management skills
Superior multi-tasking skills
Self-motivated with ability to motivate others
Decisive, creative, flexible, ability to work independently
Readily adapts to change in the organizational environment
Promotes and maintains a team environment
Positive attitude, displays initiative on an ongoing basis
Goes beyond what is expected to meet processing requirements and to achieve department, corporate and personal goals
Strong coaching and motivational skills. Ability to drive results through others to achieve unit goals. Ability to effectively train and guide others
Exceptional organizational, communication, and customer service skills

About the Alterna Financial Group

Alterna Savings and Credit Union Limited (Alterna) has been the Good in Banking for 111 years!

Alterna has grown from its humble beginnings to be the second largest credit union in Ontario, and one of the Top 10 in Canada, with over $8 billion in assets under management and more than 167,000 members and a network of 35 branches across Ontario. The impressive growth throughout the years stems not only from merging with other credit unions, but also from significantly gaining new retail, business and not-for-profit members as people recognize Alterna’s philosophy of putting members first.

Known for its fast-paced environment, Alterna is viewed as a trailblazer in the industry. Led by a CEO with a passion for innovation, Alterna was the first credit union to introduce a digital bank and the first to offer a fully digital end-to-end mortgage through its wholly-owned subsidiary, Alterna Bank.

Alterna is proud of its long history of helping communities thrive. It shared its success in 2018 by donating more than $1 million to the community and, in partnership with employees, contributed 11,300 volunteer hours. Its flagship Community Micro Finance Program also helps underrepresented groups. Since inception, the program has disbursed more than $5 million in impact loans and helped change the lives of more than 1,000 participants and their families.

Alterna is also extremely proud of its corporate culture. With a workforce of more than 600 employees, Alterna is honoured to be recipient of prestigious employer awards, including the National Capital Region’s Top Employers and Aon’s Best Employers (Platinum level) awards.

For more information please visit www.alterna.ca and www.alternabank.ca and connect with us on https://twitter.com/alternasavings.

Compensation

  • At Alterna, we offer a competitive total rewards program and an opportunity to truly make a difference. If you put people first and value excellence and integrity, we hope you'll apply!
  • Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills and competencies outlined above.
  • Alterna is compliant with the Ontarians with Disabilities Act. If you have a disability, please contact the recruiter to let us know how we can accommodate you.