Senior Analyst, CMHC

KV Capital; Calgary; Hybrid; CAD 84,000 - 100,000; Full time

Benefits offered by this job

Competitive total compensation package

Employee Stock Options Plan

Comprehensive paid time-off including

100% employer-paid benefits

Professional development opportunities

Hybrid work offering (4 days in office

1 day remote per week

Job summary

KV Capital is seeking an experienced underwriter to lead CMHC-insured multifamily lending initiatives. You will evaluate credit, valuation, and program risk, manage CMHC submissions through to Certificate of Insurance and funding, and coordinate with brokers, borrowers, and the Origination team.

With 3–5 years in mortgage underwriting and CMHC experience, you will support the deal lifecycle from application to funding, ensuring timely and compliant outcomes.

Qualifications

• Bachelor's degree in finance, real estate, economics, business or related field.
• 3–5 years of experience in mortgage, real estate or underwriting.
• Experience underwriting CMHC-insured transactions, HB-2 framework, and CMHC Select/Standard.
• Ability to interpret financial statements, credit reports, and corporate structures.
• Strong written and verbal communication with CMHC, brokers and borrowers.

Responsibilities

• Underwrite CMHC-insured multifamily term and construction loan applications.
• Review financial statements and tax filings to assess deal viability.
• Identify risks and mitigants and document underwriting recommendations.
• Prepare and present loan submissions to Credit through Loan Summaries.
• Submit CMHC loan insurance packages and manage queries from issuance to funding.
• Coordinate with brokers and borrowers on underwriting requirements and timelines.
• Serve with Origination, Credit, and CMHC to support deal lifecycle.

Skills

Financial analysis

Analytical thinking

Communication skills

Strong judgment

Organizational skills

Education

Bachelor's degree in finance/real estate/economics/business

Tools

Microsoft Excel

Microsoft Office

Real estate information databases

Credit bureau searches

Job description

Role

The successful candidate will play a vital role in the underwriting and execution of KV Capital's CMHC-insured multi-family lending platform. This will entail:

• Taking ownership of the underwriting and CMHC insurance submission process for CMHC-insured multifamily mortgage opportunities sourced by the Origination team.
• Independently assessing credit, valuation, and program risk to build well-supported, defensible underwriting recommendations.
• Managing the CMHC submission and query process directly, working with CMHC underwriters through to Certificate of Insurance issuance and funding.
• Coordinating directly with brokers, and on direct deals, Borrowers, to fulfill underwriting requirements.
• Supporting the Origination team through the deal lifecycle from application to funding.

Success will be dictated by your ability to independently underwrite complex CMHC-insured transactions with sound judgment, manage the CMHC process to a timely and successful Certificate of Insurance, and be a reliable, detail-oriented partner to Origination, Credit, and CMHC throughout each transaction.

Responsibilities

In collaboration with KV Capital’s Origination team, you will be responsible for:

• Independently underwriting CMHC-insured multifamily term and construction mortgage applications, including complex loan applications along with MLI Select and MLI Standard, applying CMHC's HB-2 underwriting framework and program parameters.
• Conducting in-depth review of corporate financial statements and tax filings to independently determine deal viability, applying sound judgment to reconcile CMHC-provided benchmarks and metrics against deal-specific facts, and determining which inputs and assumptions most appropriately apply to a given transaction.
• Identifying, quantifying, and evaluating key risks and available mitigants across market, borrower, property and structural factors, and maintaining working papers to support underwriting recommendations.
• Preparing credit submissions to the Credit team, clearly presenting deal structure, risks, mitigants, and underwriting recommendations through Loan Summaries.
• Preparing and submitting CMHC mortgage loan insurance application packages and managing subsequent CMHC queries and information requests directly from issuance of the Certificate of Insurance to funding.
• Coordinating directly with brokers on deal-specific underwriting requirements, including document requests, outstanding conditions, and closing timelines.
• On direct (non-brokered) deals, managing underwriting requirements directly with the Borrower, including document collection, conditions, and process management.
• Working with the internal Capital Markets team to execute rate locks and manage related timing and logistics ahead of funding.
• Managing and maintaining deal-related information and activity within the CRM.
• Working with Origination, clients, and industry contacts to maintain positive, professional relationships throughout the underwriting process.
• Supporting projects and other underwriting-related duties, as assigned.

Requirements

• A bachelor's degree in finance, real estate, economics, business, or a related field is required.
• 3 to 5 years of experience in a mortgage, real estate, or underwriting role required; CMHC insured lending experience preferred.
• Demonstrated experience independently underwriting CMHC-insured transactions under MLI Select, MLI Standard, and construction financing, with strong working knowledge of the HB-2 underwriting framework, required.
• Strong financial acumen with the ability to interpret financial statements, corporate structures, and credit reports.
• Experience with real estate information databases, title and corporate registry searches, and credit bureau searches is an asset.
• Strong analytical and problem-solving skills, with sound, independent judgment to assess and reconcile data from multiple sources.
• Excellent written and verbal communication skills, with comfort liaising directly with CMHC, brokers, and Borrowers.
• Strong organizational skills to manage multiple deals and competing deadlines.
• Advanced proficiency in Microsoft Office, particularly Excel, considered a strong asset.

About KV Capital

At KV Capital, we have established ourselves as industry leaders in real estate debt and investment, driven by our unwavering commitment to excellent, trusted partnerships, and innovating solutions. Since our founding in 2006, we have expanded our business across three connected areas of service: real estate private equity, real estate lending, and private equity investments in real estate supply chain businesses. Managing a robust portfolio of +$1.8 billion in funded investments, accompanied by +$1 billion in assets under management, our dedicated team of finance experts is driven by a shared goal to cultivate prosperity for our clients, investment partners, and communities. We have office locations in Edmonton, Calgary, and Toronto, and continue to expand our reach nationally.

Insured Lending

KV Capital is expanding its CMHC-insured multifamily lending platform, providing insured term and construction financing solutions for multifamily and purpose-built rental properties under CMHC’s National Housing Act programs. Our platform pairs deep capital markets and securitization expertise with a disciplined, credit-aware approach to origination, delivering competitive insured financing to borrowers, sponsors, and developers across the market.

What KV Capital Offers

• Competitive total compensation package, including performance-based and long-term incentives
• Eligible to participate in the Employee Stock Options Plan
• Comprehensive paid time-off package, including birthdays off and holiday office closures
• 100% employer-paid benefits
• Financial and organizational support for professional development opportunities
• Flexible work environment, including hybrid work offering (4 days in office, 1 day remote per week)

This position has a base salary range of $84,000 - $100,000 annually.

Please note: this recruitment process is being conducted through multiple job postings and will be used to fill one (1) position.

Our Value Proposition

Join us at KV Capital and be part of a dynamic team that is redefining success in the real estate debt and investment landscape. We are passionate about our business, our culture and investing deeply in your growth and development to build for the future. You will be part of an enthusiastic and highly effective team with no end to challenging and transformational work in sight. KV Capital is in a phase of growth and expansion, offering a collaborative work environment, recognition for outstanding performance and abundant opportunities for both personal and professional advancement.

For more information on our company, please visit our website at www.kvcapital.ca.