Senior Mortgage Underwriter

CANADA ICI CAPITAL CORPORATION; Calgary; On-site; CAD 110,000 - 150,000; Full time

Benefits offered by this job

Competitive salary

Performance-based bonus

Comprehensive benefits package

Growth opportunities

Mentorship from senior staff

RRSP matching

Job summary

Canada ICI Capital Corporation is seeking a Senior Mortgage Underwriter for our Calgary office. You will analyze borrower financials, structure debt (LTV, DSC, Amortization), and coordinate funding with lenders to optimize loan proceeds.

The ideal candidate has 3+ years of commercial real estate underwriting, strong Excel skills, and a collaborative mindset to mentor Analysts and support the Mortgage Origination team in a fast-paced real estate finance environment.

Qualifications

• Bachelor of Commerce with Finance major is required.
• Minimum 3 years of direct commercial real estate experience.
• Provincial mortgage license asset or willingness to obtain within 12 months.
• Excellent financial analysis and underwriting skills.
• Strong attention to detail and cash flow understanding.
• Excellent interpersonal and communication skills.
• Knowledge of real estate and finance industry.
• Expert Excel skills with formulas and pivots.

Responsibilities

• Assist Mortgage Origination team to structure mortgage opportunities based on the investment criteria of over 100 sources of mortgage capital.
• Finalize and perfect information in location-specific mortgage investment brochures.
• Review commitment letters relative to Term Sheets/LOIs for the Mortgage Origination team, Lender and the Lender's solicitor.
• Coordinate funding process including reviewing commitment letters, funding checklist, and ongoing borrower communications.
• Mentor Analysts on underwriting fundamentals and funding processes.
• Establish underwriting standards and procedures.
• Provide underwriting on complex, non-typical files.
• Other duties as required.

Skills

Financial analysis

Attention to detail

Cash flow analysis

Interpersonal skills

Real estate knowledge

Teamwork

CMHC knowledge

Education

Bachelor of Commerce in Finance

Tools

Excel

Job description

At Canada ICI, we don't just find mortgages; we provide creative financing solution that allow Canada's largest real estate developers to execute their vision. We are looking for a Senior Mortgage Underwriter who possesses an analytical mindset - someone who views a complex financial set as a puzzle to be solved and eager to do so!

You will not be a data-entry clerk. You will be the financial engine behind the deal, responsible for taking raw data, finding the yield, and crafting the narrative that gets the deal funded. This is an excellent opportunity for those looking to develop your leadership and strong analytical skills within the real estate finance industry.

This position is full-time in-person at our Calgary office.

Position Offers

• Competitive annual salary;
• Performance based bonus;
• Comprehensive benefits package, which includes extended health care (with paramedical coverage), dental, health spending account, Employee & Family Assistance Program as well as life & disability insurance;
• Growth opportunities within Canada ICI;
• Mentorship from some of the strongest Analysts and Originators within the commercial real estate industry.
• Matching RRSP Program.

The Mission

Your goal is to optimize loan proceeds. You will act as the primary "Deal Architect," analyzing borrower financials, identifying the hidden value in an asset, and structuring the debt (LTV, DSC, Amortization) to fit the specific risk appetites of our 100+ lender relationships.

Responsibilities

• Assist Mortgage Origination team in structuring mortgage opportunities based on the investment criteria of over 100 sources of mortgage capital available to Canada ICI.
• Finalize and perfect information in location specific mortgage investment brochures.
• Review commitment letters relative to executed Term Sheets/LOIs for the Mortgage Origination team, Lender and the Lender's solicitor.
• Work with the Mortgage Origination team to manage and coordinate the funding process including but not limited to; reviewing the fully executed commitment letter, preparation of the funding checklist, ongoing communication with the Borrower and any third parties required as well as proactively addressing potential issues in underwriting and conditions precedents.
• Engages critical thought to ensure proactive thinking to successfully fund the deal.
• Have a strong understanding of lending criteria for each lender and be able to suggest appropriate lenders when needed.
• Liaise between Borrowers and Lenders to process the closing of the deal.
• Establish relationships with third party report providers (appraisers, engineers, cost consultants).
• Assist in training and mentoring Analysts on the fundamentals of underwriting and funding.
• Acts with a sense of urgency in advancing the deals.
• Establish and reinforce underwriting standards and procedures.
• Provide underwriting on complex, non-typical files.
• Other duties as required.

Qualifications

• Bachelor of Commerce Degree, B.Com; Major in Finance or equivalent, is required.
• Minimum 3 years of direct Commercial Real Estate experience is required.
• Applicable provincial mortgage license is considered an asset, or you must be willing to obtain it within your first 12-months of employment.
• Excellent financial analysis research and underwriting skills.
• High attention to detail
• Clear understanding of cash flow statements, preparation and analysis.
• Excellent interpersonal and communication skills.
• Knowledge of Real Estate and Finance Industry is required.
• Expert level of knowledge in excel required to include formulas, pivot tables etc.
• Past teamwork, and team player focus and experience required.
• Experience with CMHC's MLI products is a plus.

About Canada ICI

Canada ICI Capital Corporation is an industry leader in the distribution and management of compelling mortgage products, specializing in commercial mortgage origination, direct lending, and mortgage asset management. Through its national platform, the firm combines entrepreneurial agility with institutional discipline to help borrowers access capital and enable mortgage investors to fund confidently in high-quality opportunities.

As one of the country's most active CMHC lenders, Canada ICI offers a comprehensive suite of CMHC construction and term financing products for top-tier borrowers across Canada. Its CMHC program is widely regarded as one of the most reliable and competitive sources of capital in the market.

Canada ICI is committed to building a diverse, equitable, and inclusive workforce and welcomes applications from all qualified candidates, including individuals with disabilities.

Accommodations are available upon request for candidates participating in all aspects of the recruitment and selection process.

We strongly encourage applications from candidates of diverse backgrounds and experiences.

AI-enabled tools may be used during the recruitment process to support applicant screening and assessment. Hiring decisions are made by qualified team members.

While we thank all applicants for their interest, only those individuals selected for an interview will be contacted.