Associate Director

First National Financial; Toronto; On-site; CAD 85,000 - 120,000; Full time

Benefits offered by this job

Competitive salary

Benefits package

Training programs

Modern office

Team culture

Job summary

First National Financial is seeking an Associate Director, Commercial Financing in Toronto to lead underwriting and credit analysis for a growing commercial mortgage portfolio. You will work with CMHC, construction and conventional real estate financing, guiding analysts and coordinating with investors and legal teams.

The role involves managing complex transactions end-to-end, gathering due diligence, and developing mortgage solutions for clients.

Qualifications

• Bachelor's/MBA focused in Finance or Real Estate.
• Strong financial analysis and balance sheet/income statement skills.
• Experience in commercial real estate lending is essential.

Responsibilities

• Provide oversight and support to analysts on underwriting and loan commitments.
• Handle complex transactions from start to finish with minimal supervision.
• Gather due diligence and advance relationships with clients and prospects.
• Decide on loan opportunities, pricing and credit structuring.
• Review appraisals, environmental and engineering reports for compliance.
• Prepare loan summaries and coordinate with investors and legal teams.
• Mentor team members and support AML/compliance requirements.

Skills

Commercial real estate lending

Client relationship management

Financial analysis

AML/compliance awareness

Bilingual English/French

Education

Undergraduate degree

MBA (Finance/Real Estate)

Tools

Microsoft Word

Microsoft Excel

Job description

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: 16.2

Office Location: 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 [e-mail] should you need an accommodation at any point in the recruitment process.

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