Scope of Position:

The main responsibility of the Manager, Commercial Credit is to manage the credit and operational risk of the Department. The position reports to the VP & Head of Commercial and interacts with the Commercial Services Team, Credit Risk Management Committee, and the Enterprise Risk Team on a frequent basis.

The Manager Commercial Credit will assist the Commercial Services Team in attaining its balanced scorecard objectives and managing its existing commercial portfolio while ensuring that credits meet Alterna’s policies, procedures, and guidelines. This will be accomplished by applying a balanced risk management and mitigation approach. The Manager Commercial Credit contributes to the delivery of a high level of internal and/or external service, as well as a well-managed portfolio, by actively overseeing and managing commercial credit risk assessment, underwriting activities, and administrative functions. The focus of the administrative functions is legislative/regulatory compliance; adherence to policies, procedures, and industry best practices; commercial credit risk assessment; and overall operational efficiency.

Key Responsibilities:

• Ensure Credit Policy, Commercial Operational Credit Policy, credit risk control mechanisms are in place and operational procedures are always adhered to.
• Recommend and assist with any interpretation, revision or developments of credit policies, procedures, and corporate directives applicable to loan processing.
• Interpret and apply Alterna’s risk management strategy, both commercial credit and operational.
• Ensure all transaction activities are managed within the stated service levels both externally and internally.
• Manage all loan monitoring due diligence in a timely fashion as required.
• Act as department lead in coordinating the FSRA Examination Loan Review as needed.
• Ensure that Internal and external audit deficiencies, as they relate to Commercial Services, are properly addressed.

Coaching & mentoring

• Coach team in developing creative commercial credit solutions that add value to clients/members.
• Assist the VP & Head of Commercial with mentoring and developing the team in commercial credit.
• Arrange and deliver regular coaching/learning & development sessions in commercial credit.
• Facilitates and/or attends regular team meetings to provide updates on team performance within the context of commercial credit, communicating change in policies and procedures.
• Encourage participation and feedback from team members on how to continuously improve processes.
• Identifies team and individual performance gaps, communicates performance gaps; sets action plans and provides training to improve performance.
• Oversee the completion of monthly quality assurance spot checks of completed work.

Transactions:

• Accurately review, assess, and recommend all credit applications, ensuring they provide a high quality of risk assessment, credit structure, due diligence, and credit presentation.
• Review and approve annual reviews, renewals, new credit, amendments, and any other commercial credit related requests in accordance with the department’s Service Level Agreement.
• Support the Commercial Services team in meeting business development targets by recommending alternatives in structure or pricing to meet the needs of members and conform to Alterna’s risk management policies or appetite.
• Ensure appropriate balance between commercial credit risk and pricing.
• On an on-going basis, engage with the team to ensure the continued health and good standing of the Commercial lending portfolio.
• Approve the disbursement of credit facilities as per established and proper procedures, by obtaining legally valid and enforceable security, insurance protection, guarantees, undertakings and covenants, and ensures that all pre-funding conditions are met, any exceptions are properly identified and proper approvals are obtained.
• Manage the monthly arrears, watch-list, LOOR and overdraft reports. Ensures that effective problem and watch-list account procedures are adhered to.
• Recommend and assist with the execution of approved restructuring/work-out action plans for impaired loans.

Administration:

• Ensure commercial credit management reporting for the department is produced, adhered to, and administered within approved guidelines, and in line with Alterna’s policies and procedures.
• Implement and operate systems to identify and mitigate commercial credit risk issues, including acting as the department’s designated anti-money laundering officer.
• Contribute as a subject matter expert to support the Enterprise Risk Team in managing and reporting to senior management the industry concentration risk within the overall commercial portfolio. Helps ensure established limits are respected for specific industries, thereby mitigating risk by maintaining a suitable overall industry concentration ratio.
• Manage third party relationships (solicitors, appraisers, environmental engineers, project monitors, building condition inspectors, etc.).

Qualifications:

Education / Certifications / Experience:

• Completed university education Commerce, or Business Administration, or Economics, or Real Estate Finance, or Accounting, or Finance or related field.
• Minimum 15 years’ experience in a financial institution, with management and account management experience, with direct borrower/member contact, or with related experience.
• Demonstrated experience in recommending and/or approving commercial credit is essential, including commercial real estate.
• Significant real estate finance skills and analytical skills, with proven mathematical aptitude.
• Knowledge of general market conditions, industry trends, and best practices in the financial services industry, regarding commercial credit and service delivery.
• Thoroughly and accurately analyzing situations, make informed, supportable decisions, and determining effective customer centric solutions in a timely manner.
• Communicating effectively, with management and employees, with above average written and oral communication skills.
• Making effective presentations.
• Exercising tact, initiative, discretion, and judgment.
• Working under pressure, on numerous tasks simultaneously, to meet deadlines.
• Working effectively with others, demonstrating dependability, adaptability, and a willingness to take direction as required.
• Providing guidance to a team of senior sales and underwriting staff.

About Alterna Savings

Alterna Savings and Credit Union Limited (Alterna) has been the good in banking™ for over 110 years. Alterna is made up of Alterna Savings and Credit Union Limited and its wholly owned subsidiary, Alterna Bank.

As the first full-service, member-owned cooperative financial institution outside Quebec, Alterna Savings shares its expertise with 217,000 members through a network of 46 branches across Ontario, as well as call centre and digital channels. Members and customers also benefit from an industry-leading online brokerage, investment management services, and have access to over 43,000 surcharge-free ATMs in North America with THE EXCHANGE Network in Canada and the Allpoint Network in the US.

Working at Alterna

Alterna offers a fast-paced, impactful work experience in an organization that cares about doing good. For over 110 years, Alterna has been creating financial services that transform lives for the better, all while giving back to our community.

We are incredibly proud of our corporate culture, where everyone works together towards a common goal, the financial wellbeing of our members and customers. This commitment has earned us several prestigious employer awards, including the National Capital Region's Top Employers award for seven years running.

• Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills, and competencies outlined above.

• Alterna is compliant with the Ontarians with Disabilities Act. If you have a disability, please contact the recruiter to let us know how we can accommodate you.

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