HYBRID-Senior Commercial Lending Specialist

TEEMA; Surrey; On-site; CAD 73,000 - 90,000; Full time

Job summary

A leading credit union is seeking a Senior Commercial Lending Specialist in Surrey, Canada. This role involves delivering comprehensive commercial lending services including processing loan applications, conducting financial analysis, and ensuring compliance with lending policies. Candidates should have at least 5 years of experience in retail lending, and strong skills in financial analysis and risk assessment. The position offers a salary range of $73,533.24 to $89,534.42 CAD per year along with an extensive benefits package including paid health days, volunteer hours, and tuition reimbursement.

Benefits

13% employer contribution to RRSP

Up to 12 paid health days per year

Up to 6 weeks of paid vacation per year

Paid volunteer hours

Interest-free loan for computer or fitness equipment

Tuition reimbursement

Unlimited RMT Massages & Physio

Annual Health Care Spending Allowance

Qualifications

• Minimum 5 years' experience as a Retail Lender with exposure to Commercial Lending.
• Knowledge of Collection Law and a minimum of 1 year experience as a Collector.
• Ability to communicate effectively, both orally and in writing.

Responsibilities

• Deliver comprehensive commercial lending services to business members.
• Conduct financial analysis and risk assessment for loan applications.
• Prepare and maintain commercial loan files, ensuring compliance with legal requirements.

Skills

Financial analysis

Risk assessment

Customer service

Leadership

Communication skills

Education

Grade 12 plus post-secondary courses in lending

5+ years experience as a Retail Lender

3-4 years experience as a Commercial Loans Administrator

Tools

Microsoft Excel

Relationship Banking System

Job description

On behalf of our credit union client, TEEMA is seeking a Senior Commercial Lending Specialist.

Under the direction of management, the Senior Commercial Lending Specialist delivers a range of commercial lending services to business members. This includes processing and approving applications within authorized limits for commercial loans, mortgages, and lines of credit, as well as handling renewals, payouts, collections, and administrative support. The role involves financial analysis, risk assessment, and portfolio monitoring, ensuring compliance and quality across all lending activities.

REQUIRED SKILLS & ABILITIES

• Provides lending services to commercial members by:
  -Conducting interviews with members to identify lending needs and completing loan applications when required.
• Processes applications for new commercial and small business loans, mortgages, lines of credit and commercial builders' loans by:
  - reviewing and approving commercial loan applications within lending limits and obtaining all supporting documentation including financial statements, employment confirmations, certificates of title and agreements for sale; prepares personal net worth statements.
  - requesting commercial credit checks through the credit bureau and other financial institutions to assess the degree of risk associated with the application, orders appraisals.
  - preparing commercial promissory notes, guarantees, security documents and resolutions to borrow; prepares commitment letters confirming terms and conditions of loan and obtains member signatures.
  - setting up loan master’s on the banking system from application information and supporting loan documentation, and ensuring the accurate recording of codes, classes, amounts, industrial classifications, rates, payment dates and maturity related to each commercial file.
  - preparing and submitting lawyers' instructions, disbursing funds, collecting fees and service charges and ensuring all lawyers' instructions have been followed by reviewing legal documentation for accuracy.
  - ensuring registration of securities in accordance with legal requirements.
  - ensures appropriate insurance has been obtained on all loans and on renewals and PPSA renewals as required; reconciles month end insurance reports.
  - mastering and following up on loan and mortgage renewals.
  - ordering site inspections for course of construction loans as mortgage draws are requested by members, requesting lien searches, calculating draw amounts based on percentage of completion and disbursing funds following approval.
  - setting up, organizing and updating commercial loan files.
• Performs a variety of administrative duties relating to the renewal and mid-term modification of commercial mortgages and course of construction loans for commercial builders including:
  - monitoring pending loan renewals, analyzing previous terms, and making recommendations for renewal terms and rates based on degree of risk.
  - generating renewal letters to members confirming rates and terms, calculating revised payments for fixed mortgages, updating system information, collecting fees and crediting appropriate general ledgers.
  - monitoring expiring financial statements, following up with members to obtain new statements.
  - conducts credit checks, lien searches and name searches using the BC Online system.
• Answers general enquiries from members and the public on the features, rates and qualifying criteria associated with commercial lending products and services; screens and redirects calls; troubleshoots member concerns and problems with existing commercial loans; provides credit information to other financial institutions.
• Analyses commercial financial statements, assets, liabilities, sales and revenue to determine net worth and degree of risk; risk rates and all commercial loans and refers to the Manager for approval.
• Tracks receivables list for commercial lines of credit to ensure revenue covers line of credit amounts; identifies where revisions to lines of credit are required and refers and recommends to the Manager follow up action; makes all related system entries and advises members of any changes.
• Prepares payout statements on request from lawyers including payout amounts, additional fees and per diem rates; calculates penalties for early payments; processes mortgage discharges, obtains signatures and forwards to requesting agency; verifies incoming discharge documentation against payout statement to ensure accuracy.
• Compiles information on commercial lending activities for month end reporting purposes by collecting statistics on loan renewals, loans approved or declined and disbursements; balances and reconciles total number of letters of credit to report; balances and reconciles appraisals, lien searches and insurance general ledger accounts.
• Processes all staff loans including personal loans, mortgages and lines of credit by checking loan applications for accuracy and completeness, obtaining all required documentation, mastering loans on the banking system once loan has been approved, preparing lawyers' instructions, disbursing payments, ensuring registration of securities and maintaining all staff loan files.
• Prepares and maintains commercial Letters of Credit files by preparing applications and related letters of credit documentation, processing holds and freezes on security, ensuring the registration of securities and referring to the Manager for approval, debits fees and updates system entries.
• Receives and processes payments for accounts payable such as registration, search fees and appraisal cost, calculates and balances profits and transfers to appropriate general ledger.
• Reviews a variety of system generated reports and refers any problems to the Manager.
• Monitors and prepares necessary documentation for any postdated entries.
• Reviews Lines of Credits by checking member account lists and connected borrowings and deposits, completes risk rating and monitors worksheet and reviews sheets, updates the review date to correspond with financial statements, recommends taking out Line of Credit and refers any problems.
• Provides administrative support to the Manager, Credit in the day-to-day operation of the Centralized Lending department by:
  - Reviews the daily delinquency report for all retail and commercial accounts and initiates collection action for funds owing on delinquent accounts by analyzing and assessing the status of accounts and identifying appropriate steps to be taken in accordance with established collection policies, procedures, and time frames; composes correspondence and reports relative to delinquent accounts.
  - Contacts individual members, discusses available options and alternatives and initiates action to mitigate loss, interviews and counsels’ members on financial matter relative to debt incurred.
  - Oversees the distribution of delinquency letters.
  - Maintains liaison with legal counsel and bailiffs on collections, foreclosures and repossessions by providing information on account status and member history
  - Prepare legal documents and registers with the courts.
  - Reviews of a variety of computer-generated reports on an ongoing basis to monitor the overall delinquency status of the loan portfolio. Composes month end reports to summarize to Head Office.
  - Oversee the monthly non-performing reports for all delinquent accounts and instruct branches on necessary action to be taken.
  - Recommends write-offs yearly and prepares yearly write-off reports, monitors status of write-off loans through credit bureau checks and other tracing activities to collect amounts owing.
  - Provides training and support to all lending staff on lending policies, procedures, documentation requirements and statutory guidelines in accordance with training instructions from the Manager.
  - Audits loan files, payout statements, discharges and other documentation prepared by the Loans Clerks for accuracy and completeness.
• Performs other incidental duties related to member service and administration, as assigned.
• QUALIFICATIONS
• Knowledge of retail and commercial lending policies, procedures, documentation requirements and legal processes, including financial statement analysis and commercial risk rating
• Knowledge of banking procedures, and the features and use of the computerized Relationship Banking System
• Knowledge of Microsoft Office, including Word and Excel
• Knowledge of Credit Union lending products and services
• Knowledge of Credit Union and provincial regulations as they pertain to Collections
  Knowledge of Filing Small Claims Action
• Knowledge of Conventional Foreclosures and CMHC Foreclosures
• Knowledge of seizing vehicles

This position will require the following behavioural skills

• Ability to exercise judgement in taking a risk, and to make sound credit recommendations
• Ability to motivate staff and take a leadership role
• Ability to deal with members and the public in a courteous, friendly, tactful, diplomatic and professional manner
• Ability to communicate effectively, both orally and in writing
• Ability to use a variety of office machines including calculators and adding machines
• Ability to work under pressure, and to meet deadlines

This position will require the following education and experience skills

• Grade 12 plus completion of some post-secondary courses in lending through CUIC or other post-secondary institutions
• A minimum of 5 years’ experience as a Retail Lender with exposure to Commercial Lending: a minimum of 3 – 4 years’ experience as a Commercial Loans Administrator
• Knowledge of Collection Law and regulations and a minimum of 1 year experience as a Collector or equivalent position in a financial institution
  OR
• Equivalent combination of the above may be appropriate.

COMPENSATION & PERKS

• 35-hour work week
• Our client contributes a 13% of your monthly salary into your CSCU RRSP Account – NO matching or minimum contribution required
• Up to 12 PAID health days per year – and it gets even better, they pay out half of the unused balance at the end of each year
• Up to 6 weeks of PAID vacation per year
• PAID volunteer hours
• Up to $5,000 per year INTEREST- FREE Loan for home computer or fitness equipment
• Staff Mortgage and Personal Loans Rates
• Tuition Reimbursement Policy
• Learning and Development programs including PAID LinkedIn Learning membership
• Benefit Package that includes:

• Unlimited RMT Massages & Physio
• $500 Annual Health Care Spending Allowance
• $200 Vision every 12 months
• 100% Basic and 75% Major Dental Coverage & 50% Orthodontic (up to $2000 lifetime) coverage for the employee and their dependents
• Out-of-country Travel Insurance
• “Wellbeats” On-demand video streaming platform with expert-led fitness, nutrition and mindfulness classes
• $2,000 Annual Mental Health Coverage & iCBT (Internet-based Cognitive Behavioural Therapy)
• Carepath provides support to members and their families in the event of illness or other health crises.
• 3X Annual Salary Life Insurance Coverage
• Family Building, Fertility Drugs and Gender Affiliation benefits
• Exclusive discounts with Perkopolis
• Telemedicine

The typical salary range for this position is $73,533.24 – $89,534.42 CAD per year. The final offer may vary based on your job-related knowledge, skills, experience, and expertise.