Manager, Commercial Real Estate Lending

League Savings and Mortgage; Halifax; On-site; CAD 80,000 - 120,000; Full time

Job summary

A financial services provider is seeking a Manager for Commercial Real Estate Lending in Halifax. The role involves supervising a team, managing loan portfolios, and driving business development. The ideal candidate has a Bachelor's degree in Finance and at least seven years of relevant experience, including supervisory roles. Offering flexible working arrangements in a community-focused environment.

Benefits

Flexible working arrangements

Personal days

Birthdays off

Qualifications

• Minimum seven years commercial lending/underwriting/adjudication experience required.
• Previous supervisory experience necessary.

Responsibilities

• Supervises and coordinates the work of Commercial Relationship Managers and Analysts.
• Contributes to business development activities by developing relationships.
• Manages commercial loan portfolios, ensuring annual reviews are completed.
• Conducts analysis of potential Canada Mortgage Bond transactions.
• Promotes and cross-sells products to clients and referral sources.

Education

Bachelor's Degree in Finance or related discipline

Job description

A TYPICAL WEEK:

Working with and leading a professional and dedicated team, the Manager Commercial Real Estate Lending contributes to the management and growth of the commercial mortgage and construction loans portfolios in line with company and individual goals, providing support, advice and guidance to new/existing clients, credit unions and other Commercial Lending staff regarding the structure of commercial mortgage lending throughout the approval process.

They also analyze commercial mortgage annual reviews and builds relationships with credit unions, clients and referral sources to contribute to the commercial lending portfolios of League Savings and Mortgage (LSM).

Direct reports include the Commercial Analysts and Commercial Relationship Managers.

Who WE Are:
League Savings & Mortgage (LSM), a credit union owned company, is a federally regulated financial institution based in Nova Scotia. We deliver quality results and offer a collaborative and community focused work environment in which to do it. Our employees' wellbeing is a top priority, and we underscore that with flexible working arrangements, personal days, and even birthdays off, to enable employees' to strike a balance that works for them. We strive to create an environment where all team members have opportunities for growth and feel welcome, valued, supported and connected.

If your values align with ours, consider joining our growing team as Manager, Commercial Real Estate Lending.

Qualifications

As the ideal candidate you will have successfully completed a Bachelor's Degree with an emphasis in Finance or a related discipline plus have a minimum of seven years Commercial Lending lending/underwriting/adjudication experience; or equivalent combination of training and experience. Previous supervisory experience required.

Responsibilities

1. Supervises and coordinates the work of the Commercial Relationship Managers and Commercial Analysts. (Recruitment & selection, training & development, planning, assigning and directing work; ongoing coaching, address performance issues as they arise; and conducting staff meetings to communicate corporate and department business plans)

2. Actively contributes to the business development activities of LSM by including, but not limited to:

• Developing and maintaining a network of relationships with LSM partners, borrowers and other stakeholders including direct credit union, and other referral sources (e.g., brokers, accountants, etc.).
• Researching the market to determine active property developers / investors.
• Conducting cold calls to discuss potential funding opportunities.
• Reviewing potential new business opportunities including negotiating terms, conditions and deal structures, conducting a comprehensive analysis of the applicant's financial statements, cash flow, business performance history, profitability and personal net worth of shareholders to assess credit worthiness and compliance in accordance with LSM's and/or AC's commercial lending policies and guidelines, and preparing credit applications prior to submitting for adjudication.
• Supporting and guiding the Commercial Relationship Managers in their business development activities.

3. Proactively manages LSM's commercial loan portfolios, including, but not limited to:

• Ensuring annual reviews on all commercial accounts are completed when due.
• Ensuring all accounts are operating as authorized.
• Ensuring early intervention on delinquent accounts to find the most effective method to secure payment. Initiates appropriate collection activity to recover principle, interest, and security. Initiates legal action and maintains liaison with legal counsel on foreclosures and other issues.
• Handling client inquiries, changing loan terms and conditions.

4. In conjunction with the Director, Commercial Lending, conducts detailed analysis of potential Canada Mortgage Bond (CMB) transactions and prepares credit submissions to include a recommendation to LSM's Executive Committee.

5. Performs training and development activities including, but not limited to:

• Designs and delivers information and/or training sessions that are aligned with departmental and company goals to clients, referral sources, and credit union employees, on LSM mortgage products and services.
• Identifies educational gaps of LSM commercial staff and researches, recommends and delivers or coordinates the delivery of necessary training to bridge those gaps.

6. Promotes and cross-sells existing and potential clients and/or referral sources on the benefits of utilizing other LSM and/or credit union products and services. Maintains regular contact with credit unions and referral sources to promote and cross-sell on the benefits of LSM products and services and to provide support to credit unions in their development of commercial business opportunities.

7. Reviews and adjudicates commercial mortgage and construction loan applications within approval limits from LSM and participates in the company's credit committees, providing adjudication on new applications for LSM and regional credit union applications.

8. Reviews, provides feedback, and approves the annual reviews prepared by the Commercial Analysts.

9. Reviews various delinquency reports including delinquency, property held for resale, non- performing loans, CMHC report on delinquency. Recommends write-off and following up on written off loans to monitor opportunity for recapture. Ensures monthly reporting for the appropriate committees. Prepares claims to CMHC, initial and supplementary as required.

10.Provides input into the development of the annual department business plan and budget. Implements assigned sections of the plan, monitors results (e.g. new business targets) and takes corrective action as appropriate.

11.Acts as back-up to the Director, Commercial Lending in their absence.

12.Completes other duties and projects as assigned.

About LSM

League Savings and Mortgage Company provides tailored financial solutions designed to meet the unique needs of our customers. Backed by a dedicated team of financial professionals, we ensure every solution aligns with our customers' personal and business goals. With nearly six decades of experience and a legacy of success, League Savings remains a trusted partner-delivering competitive solutions and results that count.

We are proud to be a Certified B CorporationTM joining a global movement of people using business as a force for good. We are committed to making business decisions that are in the best interests of our employees, credit unions and their members.

Curious about what else we do? Check out our website or LinkedIn page.

We are committed to providing a work environment that fosters inclusion, value and respect and reflects the diversity of the communities in which we live and serve. We encourage and welcome applications from traditionally underrepresented and equity-seeking groups. All qualified applicants will receive equal consideration; however, priority will be given to Canadian citizens and permanent residents. Should you require any accommodation during the recruitment process or otherwise, please notify us and we will work to meet your accessibility needs.