Underwriter, Commercial Real Estate

Vancity; Toronto; Hybrid; CAD 70,000 - 90,000; Full time

Job summary

A leading credit union in Toronto is looking for a Full-time Underwriter specializing in Commercial Real Estate. The role involves underwriting analysis of loans for purpose-driven businesses, managing risks, and preparing commitment documents. Ideal candidates should have at least 5 years of related experience and a background in business or finance, with a focus on social and sustainable real estate projects. This position supports a hybrid work model and is part of a committed and inclusive team.

Benefits

Flexible benefit packages

Generous vacation time

Health and dental benefits

Defined benefit pension plan

Qualifications

• Minimum of 5 years of real estate financing or related experience.
• Knowledge of the Ontario commercial real estate market.
• Experience in commercial credit underwriting.

Responsibilities

• Completing underwriting analysis of commercial mortgage transactions.
• Assessing suitability, reviewing risks, and due diligence requirements.
• Preparing and issuing commitment letters and other client-facing documents.
• Maintaining consistent, objective, and sound risk assessments.
• Providing guidance and decision-making support to origination teams.

Skills

Analytical skills

Strong communication skills

Collaboration

Adaptability

Resourcefulness

Education

Bachelor's degree in business, economics, finance, or related field

Master's degree in a relevant field

Job description

Our Story & Purpose

We’re Vancity, a member-owned credit union built on the principles of inclusion and social justice. Since 1946, our relentless commitment to these values has helped us challenge the status quo and break down barriers. We’ve made bold commitments to become net‑zero by 2040 across all mortgages and loans, and we’re actively pursuing strategies in Indigenous banking and financial resilience for our members.

Vancity Community Investment Bank (VCIB) is an Ontario-based subsidiary of Vancouver City Savings Credit Union (Vancity). As Canada’s first values‑driven bank, VCIB provides financing solutions to help purpose‑driven businesses and organizations create, grow and foster change. At VCIB, we embrace your strengths and your ambitions, so you feel empowered at work. We need talented, passionate professionals who are dedicated to using finance as a force for good and doing what’s right for our clients.

Your Role in Supporting Our Members

As an Underwriter, Commercial Real Estate, you will play a critical role supporting the growth and management of a portfolio of loans to values aligned businesses and social purpose real estate projects, including (but not limited to) term and construction financing for market rental housing, affordable housing, green buildings, and community spaces. You’ll join a small, diverse team of entrepreneurial, purpose‑driven individuals and contribute your expertise in credit underwriting and portfolio management with a specialized lens on real estate finance.

This is a Full‑time, Permanent role based at the Vancity Community Investment Bank head office location and your Ontario based home office and will report directly to the Senior Manager, Commercial Real Estate. While this position provides a hybrid work arrangement, you will be expected to be on‑site for events and business demands.

How You’ll Make an Impact

• Completing underwriting analysis of commercial mortgage transactions for term and construction facilities
• Assessing suitability, reviewing risks, and completing due diligence requirements on transactions in accordance with risk appetite
• Preparing and issuing commitment letters, amendments, renewals, and other client‑facing documents
• Maintaining consistent, objective, and sound risk assessments in a service‑oriented environment
• Providing guidance and decision‑making support to origination teams to solve problems
• Collaborating with colleagues across teams to improve underwriting systems and maximize effectiveness
• Completing loan renewals and annual reviews for social purpose real estate and climate finance
• Supporting adherence to commercial credit policy, standards, and guidelines

What You’ll Bring to the Team

• Bachelor’s degree and/or Master’s degree in business, economics, finance, or related field
• Minimum of 5 years of real estate financing or related experience
• Knowledge of the Ontario commercial real estate market and interest in advancing social purpose and sustainable real estate
• Experience in commercial credit underwriting with strong business and financial analytical skills
• Strong written communication skills
• Business banking, CMHC financing and project finance experience an asset

You’ll Thrive Here If You Are

• Analytical – You enjoy solving complex problems and making sound decisions
• Collaborative – You work effectively with colleagues and build strong relationships
• Adaptable – You thrive in a fast‑paced, changing environment
• Resourceful – You leverage available resources to develop solutions independently
• Purpose‑driven – You are passionate about advancing social and sustainable real estate

We value lived experience, so if you are interested in this role, we encourage you to apply even if you feel your skills don’t perfectly align with those listed.

Why You’ll Love Working Here

A career at Vancity is more than just a job, you’re joining a tradition of change‑makers who are creating lasting change for our communities. Beyond base pay, we offer a comprehensive total rewards package to ensure our employees are empowered to thrive:

• Living Wage Employer: We’re the largest private‑sector Living Wage Employer in Canada and consistently ranked among Canada’s Top Employers.
• Customizable Benefits: Permanent employees receive flexible benefit packages that can be tailored annually to meet evolving needs.
• Generous Vacation: New employees start with 3–4 weeks of vacation per year, with additional days earned over time.
• Extra Stat Holidays: In addition to BC’s 11 statutory holidays, we offer 2 extra days, plus care days for personal or family illness.
• Immediate Health Coverage: Health and dental benefits begin on your hire date, with three levels of coverage to choose from.
• Defined Benefit Pension: Our retirement plan provides a guaranteed income for life, recognizing that retirement looks different for everyone.

Vancity Talent Programs

Vancity supports an inclusive hiring process for candidates who self‑identify as Indigenous, Black, or Trans. With special permission from the BC Human Rights Commissioner, this initiative provides access to career development opportunities, prioritized job screening, and feedback. Any information you choose to share will be stored securely and used only for recruitment and career development connected to this initiative, in line with the BC Personal Information Protection Act (PIPA). For details, please see our dedicated Talent Programs job posting.

At Vancity we’re committed to creating a welcoming and inclusive workplace to help our people and communities thrive and prosper. Diversity in our workforce is integral so that we can truly represent, understand and respond to our community needs and deliver on our member experience.

We are also committed to an inclusive, barrier‑free and accessible recruitment experience for all candidates. If you require any accommodations or support at any stage of the recruitment process (including the application stage), we encourage you to let us know by contacting our Talent Acquisition team at [e-mail]. We’re here to work with you to ensure your needs are met promptly and effectively. All requests will be handled with the utmost respect and confidentiality, so you can participate fully in the process.