Job DescriptionPosted Tuesday, March 26, 2024 at 4:00 AM | Expires Saturday, April 27, 2024 at 3:59 AM
The Role:
The Director contributes to the production and development of the commercial mortgage portfolio by analyzing financial and supporting documents on incoming applications and ensuring information is consistent with internal, insurer and investor policies. The role is specific to CMHC, construction and conventional commercial real estate financing requests.
Reporting To:
Assistant Vice President, Commercial Financing
Full-Time/Part- Time:
Full-time
Salary Range:
$94,902 - $161,333
Hours of Work:
8:30 a.m. – 5:00 p.m.
Grade:
18.2
Office Location:Vancouver BC
Great location! Steps away from the main public transit stationWhat we offer:
Highly competitive compensation package which includes, base salary, bonus, benefits, and career advancement opportunities!
*Eligibility for benefits is dependent on the terms of employment
What you will do:
Support the Assistant Vice President in developing and expanding the client base, while increasing income and company profit
Provide oversight and support to more analysts working directly within the team, including reviewing underwriting, credit applications and loan commitments.
Ability totransactions from start to finish and problem solve through any complex matter.
Work directly with clients and prospects to gather due diligence, advance relationships and recommend appropriate mortgage solutions
Make decisions on advancement of loan opportunities, complex structuring and credit
Analyze financial information on commercial properties including rent rolls, operating statements and financial/net worth statements, to assist management in determining the appropriate loan size, terms, conditions and pricing
Review third party reports including appraisal, phase I/II environmental reports and engineering reports, to determine compliance with investor requirements, product lending and guidelines and loan terms and conditions
Review conditions and exception requests and prepare recommendations to credit/investors. Ensures that underwriting procedures are in force at all times and senior management authorizes any exceptions
Prepare loan summary including financial analysis and credit documents to assist in the loan approval process
Coordinate with Funder, Investor, Legal, and other third-party consultants to ensure loan conditions are met
Coordinate with clients and prepare Letters of Interest and Commitment Letters along with managing information flow to ensure smooth loan transactions
Develop and analyze construction/development pro-forma as of various multi-unit housing type projects
Monitor on-going construction loan draws, cross-referencing budgets, and ensuring applicable undertakings are performed
Monitor pending and approved loans and any corresponding fees which includes a review of any fees currently on deposit with First National
Assist from time to time in preparation for prospect and existing client meetings
Assist in training and mentorship of other team members
Perform other duties as necessary to support the goals and objectives of the commercial mortgage division
Act as a resource and share knowledge amongst the entire commercial finance group
Demonstrate a high degree of confidence when making/approving recommendations
Demonstrate a high degree of knowledge regarding available market capital and its requirements and pricing
Adhereto policies/procedures to ensure AML requirements are met, when applicable
The Requirements Needed:
Must have minimum of 5 years of experience working on CMHC underwriting, CMHC applications/submissions, and CMHC funding/post-approval requests
Experience in commercial real estate lending is a must
Undergraduate Degree and/or MBA with focus in a Finance/ Real Estate related discipline
8 – 10 years’ experience in a relative commercial real estate role
Knowledge of applicable real estate lending regulations is a must
Experience in financial analysis (i.e. balance sheet, income statement)
Organizational skills to manage several ongoing and competing tasks simultaneously
Experience communicating with clients, appraisers, engineers, lawyers, consultants, investors and/or credit committees is a must
Strong understanding of legal documentation, ownership structures and AML requirements
Preferred experience in CMHC and/or construction finance, development industry, private equity, cost consulting, or accounting with a commercial mortgage focus
Familiarity with principles of property valuation and the construction process
Advanced PC skills, with an emphasis on Word and Excel
High degree of consistent accuracy and attention to detail
Able to work with minimum supervision
Results oriented and highly motivated self-starter
Bilingualism (French, English) an asset
Supportive teamwork focused environment
Extensive training programs to set our employees up for success
Bright open concept office environment
Large kitchens with a coffee and latte maker to enjoy at no cost
Opportunities to give back to the communities and work through events focused on a variety of charities
Ongoing social events throughout the year
The team you will join:
Founded in 1988, First National is one of Canada’s largest non-bank lenders. We provide residential mortgages exclusively through our mortgage broker channel and service commercial clients through our national origination team of empowered advisors.
At First National,It’s in our Natureis our rallying cry. It underlies our values, beliefs, and how we show up for each other, our clients, our partners and the community. Our nature defines who we are and guides every decision we make.
First National is proud to be anequalopportunity employer and is committed to diversity and inclusion regardless of race, color, religion, national origin, age, gender identity, physical or mental disability, sexual orientation or any other category protected by law.
First National supports requests for accommodation from applicants with disabilities; please contact Human Resources
[email protected].
We would like to thank all applications for their interest, but only candidates selected for an interview will be contacted.#J-18808-Ljbffr