Business Analyst CMHC Commercial Services

FirstOntario Credit Union; Hamilton; Hybrid; CAD 59,000 - 81,000; Full time

Benefits offered by this job

Health benefits

Mental health benefits

Professional development

Pension plan

Flex-work

Volunteer program

Employee Assistance Program

Job summary

FirstOntario Credit Union is seeking a Business Analyst for CMHC Commercial Services in a hybrid role based in Hamilton, ON. You will analyze commercial real estate financing, including multifamily projects, underwriting, funding, and ongoing portfolio management to meet CMHC requirements and risk standards.

The role requires strong financial analysis, CMHC program knowledge, and experience with commercial lending.

Qualifications

• Post-secondary diploma or degree in business or related field.
• 3+ years of commercial lending experience and/or commercial credit adjudication experience.
• Knowledge of CMHC-insured financing programs and multifamily real estate underwriting is preferred.
• Direct experience with MLI Select is an asset.
• Strong understanding of income-producing real estate metrics such as NOI, DSCR, LTV and cap rates.

Responsibilities

• Support CMHC-insured lending opportunities including multifamily and other housing properties.
• Prepare detailed credit analysis and underwriting memoranda.
• Coordinate due diligence and documentation for approvals and CMHC applications.
• Monitor covenant compliance and portfolio performance for CMHC-insured loans.
• Liaise with members, brokers, CMHC representatives and external professionals.
• Contribute to the department's goals and identify opportunities to streamline loan origination and management.

Skills

Commercial lending

Credit analysis

CMHC programs

MLI Select

Real estate underwriting

Construction financing

Financial statements

Excel

Communication

Time management

Education

Post-secondary diploma or degree in business or related field

Tools

Excel

Word

Job description

• Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account
• Enhanced mental health benefits through SunLife and TELUS Health
• Up to $1000 per year towards professional development
• Pension Plan
• Flex-work environment
• Company-wide Employee Volunteer program (Blue Wave Program)
• Employee and Family Assistance Program

Why FirstOntario?

• Competitive compensation packages
• Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account
• Enhanced mental health benefits through SunLife and TELUS Health
• Exclusive banking benefits
• Up to $1000 per year towards professional development
• Pension Plan
• Flex-work environment
• Company-wide Employee Volunteer program (Blue Wave Program)
• Employee and Family Assistance Program

Job Overview

The Business Analyst, CMHC Commercial Services is responsible for supporting the origination, underwriting, funding and ongoing portfolio management of CMHC-insured commercial real estate financing, with a primary focus on multifamily housing. As a key member of the team, the incumbent conducts detailed financial and property analysis, coordinates due diligence, prepares high-quality credit submissions and supports the delivery of financing solutions that meet member needs while complying with CMHC requirements and FirstOntario policies and risk standards.

Role

• Support CMHC-insured lending opportunities, including acquisition, refinance, construction, lease-up and term financing for multifamily and other eligible housing properties by:
  • Assessing transaction eligibility under applicable CMHC programs, including MLI Select, and analyze affordability, accessibility, energy-efficiency and other program requirements, as applicable
  • Analyze borrower and guarantor financial information, property operating statements, rent rolls, leases, appraisals, market studies and other supporting documentation
  • Prepare detailed credit analysis and underwriting memoranda, including net operating income, debt service coverage, loan-to-value, debt yield, capitalization rate, vacancy, sensitivity and stabilization analysis
  • Review construction budgets, sources and uses, cost-to-complete information, quantity surveyor reports, draw requests and lease-up assumptions for construction and construction-to-term facilities
  • Prepare internal credit and CMHC application packages and coordinate the collection, review and tracking of required due diligence and documentation
  • Support the administration and funding of approved facilities by monitoring conditions, documentation requirements, CMHC certificates and other closing deliverables
• Liaise with internal partners and external stakeholders, including members, brokers, CMHC representatives, appraisers, environmental consultants, quantity surveyors, legal counsel and other professionals
• Prepare and complete annual reviews and ongoing portfolio management of CMHC-insured loans, including covenant monitoring, property performance analysis and identification of emerging risks or warning trends
• Diligently complete detailed commercial reviews through the breakdown and analysis of financial statements and recommendations to mitigate any new or changing risks
• Concentrate on department goals and objectives, and portray a strong positive image to our members and the community
• Over deliver on set targets and planned initiatives in the region by identifying new opportunities within the loan management and origination process
• Perform other duties we may need you to do

Required Skills

• Have a post-secondary diploma or degree in business or related field, or an equivalent combination of education and experience
• Have a strong business acumen with minimum 3 years of Commercial lending experience and/or commercial credit adjudication experience
• Knowledge of CMHC-insured financing programs and multifamily real estate underwriting is preferred
• Direct experience with MLI Select is considered an asset
• Have a strong understanding of income-producing real estate, including: rent roll analysis, property cash flow, net operating income, capitalization rates, vacancy, debt service coverage, loan-to-value, debt yield and stabilization concepts
• Have a strong understanding of real estate development and construction financing, including development budgets, construction monitoring, cost-to-complete analysis and construction-to-term structures
• Experience interpreting financial statements, property operating statements, appraisals, environmental reports, market studies and quantity surveyor reports
• Ability to prepare clear credit recommendations and work effectively with members, internal partners and external professionals
• Highly detail-oriented and analytical, with a strong commitment to accurate financial analysis, documentation and data integrity
• Strong written and verbal communication skills
• Strong organizational and time-management skills, with the ability to manage multiple applications, priorities and deadlines in a process-driven environment
• Proficiency with Microsoft Office, particularly Excel and Word
• Experience with financial modelling and commercial lending systems is preferred
• Commitment to responsive member service and professional relationship management
• Awareness of enterprise risk factors and commitment to compliance with applicable legislation, regulations, CMHC requirements and FirstOntario policies and procedures
• Be willing to work flexible hours to accommodate business need, networking and community involvement

This role is hybrid in Hamilton, ON.

This posting is for an existing vacancy.

Salary Range: $59,078 to $81,233 annually.

Compensation for this role reflects a combination of skills, experience, and internal equity. Those whose experience more closely aligns the role's requirements may be placed higher within the salary range. You will learn more about FirstOntario Credit Union's total rewards package during the interview process.

Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know.