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Scope of Position
The Manager Risk and Administration - Commercial Real Estate will ensure that Alterna Savings and Alterna Bank (“Alterna”) attains its growth objectives and manages its existing commercial portfolio by supporting an account management team in the Commercial Services Department who assist both new and current commercial members in meeting their business needs. The Manager Risk and Administration is responsible for ensuring the delivery of a high level of member / client service, actively undertaking risk assessment and underwriting activities, as well as administrative functions within the Commercial Services Department, the latter with a focus on legislative/regulatory compliance, adherence to industry best practices, risk assessment, departmental efficiency, and member service.
Contributes to the administration, growth and on-going maintenance of the commercial portfolio by undertaking the following tasks and assuming the following responsibilities:
- Credit Policy compliance and Portfolio credit risk is properly measured, monitored, controlled and managed.
- General Asset/Liability compliance (insofar as Commercial loan asset concentration is concerned) is properly measured and reported.
- Focus on legislative/regulatory compliance, adherence to industry best practices, & enterprise and portfolio risk assessment oversight.
- Recommends and assists with any interpretation, revisions, additions, development or implementation of credit policies, procedures, and corporate directives applicable to loan processing analysis, documentation, security taking, administration and reporting of loans, all activities undertaken from the perspective of optimizing portfolio risk management capabilities.
- Develops, investigates and recommends the acquisition of appropriate origination, loan underwriting / adjudication, and risk rating measures/tools, in conjunction with IT, PMO, Product Development, Compliance et al.
- Any policy exceptions on specific loan underwriting requests will require advance commentary and sign off prior to submission for adjudication.
- Manages and reports to senior management the industry concentration risk within the overall commercial portfolio, to ensure established limits are respected for specific industries, thereby mitigating risk by maintaining a suitable overall industry concentration ratio.
- Approves 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, and any exceptions are properly identified and proper approvals are obtained.
- Oversees and authorizes the loan Posting, Correction/Modification, Renewal, Discharge and Closing Processes of each loan onto and off of the banking system. Oversees, reviews and authorizes the credit pre-funding & posting Instructions provided to the Banking Operations unit for each new credit which also includes satisfaction of pre-funding conditions, posting instructions to Banking Operations and record keeping for each fee or good faith deposit collected and proper on file Account Opening documentation for each new account membership opened in the course of funding a loan.
- Provides guidance and assistance to Banking Operations for the funding, correction, servicing and repayment of all credit, but especially as it relates to all syndicated loans wherein manual monthly payment transactions to and from Alterna are required, as is monthly status reporting to our Partner Lending Institutions.
- Provides written authorization to Banking Operations to discharge individual security registrations relating to any repaid loans, with the collection of appropriate penalties, if any.
- Ensures that all reporting requirements protocols are satisfied (Renewals, Annual Reviews, Overdrafts, Delinquencies, Watch-List) as part of the regular loan portfolio risk assessment; maintain an appropriate system for efficient follow-up and receipt of information.
- Co-ordinate and review, and assist by providing departmental information and reporting as required, for the production of all weekly, monthly and quarterly Business Activity and Portfolio reports for use by Finance, Treasury, Accounting, ELT, Compliance, the Loan Officer, the Board, its committees, DICO and OSFI.
- Coordinates the Commercial Loan Review and/or DICO Examination Loan Review as needed.
- Ensures that credit Internal Audit deficiencies are properly addressed.
- Keeps abreast of business sectors showing signs of potential negative trends, and ensures that areas of weakness are identified through ongoing monitoring of customer information (financial results, operating trends), and that management is made aware of potential problem loan situations. When needed, consults, engages and instructs lawyers’ legal, forbearance and foreclosure actions.
- Manages the arrears, watch-list and delinquency reports. Ensures that effective problem and watch-list account procedures are adhered to, and dialogues with Banking Operations in respect of delinquent accounts, as required.
- Recommends and assists with the execution of approved restructuring/work-out action plans for Watch List and impaired loans.
- Manages third party relationships (solicitors, appraisers, environmental engineers, project monitors, building condition inspectors, etc.).
- Acts as a Primary Liaison with the regulatory bodies DICO and OSFI as well as with Internal Audit and Compliance.
- Provides ongoing training, coaching and consultation to staff as relates specifically to Portfolio risk issues.
- When required to do so conducts loan reviews on a post approval basis:
o Acts as the primary Commercial Services risk contact for IT regarding systems functionality and reporting needs.
o Administers and documents the discretionary lending limits delegated to other officers within the Commercial Services Department, recommending appropriate changes as required.
o Organises and chairs regular staff meetings, and participates in Credit Risk Management Committee meetings, as required.
o Applies sound judgement within the parameters of accepted credit practices and Alterna’s by-laws, policies and procedures.
Provides a high level of service to members / clients:
- Demonstrates resourcefulness, creativity, innovation, and a helpful attitude, while striving to meet the needs of members / clients, within established Alterna risk tolerances.
- Ensures that members / clients requests have been handled in a prompt and courteous manner.
- Recommends and assists in the development or refinement of products and services
Ensures safety of members / clients deposits:
- Ensures that credit risk control mechanisms are in place to adhere to regulations, policies and procedures.
- Monitors the interest rate structure to ensure that the Commercial loan portfolio's yield reflects the identified risk.
- Establishes and monitors the application fee structure
- Ensures that department training needs are identified, recommends how they can be met and monitors progress.
- Demonstrates resourcefulness and creativity in developing action and realization plans that, whenever possible, satisfy Alterna and the member / client.
Supports internal staff as required:
- Provides direction, interpretation and guidance concerning Commercial Lending Policy and Procedures instructions to the staff.
- Mentors, motivates trains and develops staff, and recommends administrative and disciplinary action, as required.
- Determines standards of performance and reviews performance against pre-determined criteria.
- Oversees two loan administration direct reports, and prepares employee appraisals, manages performance and adheres to Alterna’s HR protocols.
- Through the prompt completion of related job functions, provides support to the department's staff to assist them in meeting their goals and objectives are met.
- Within the scope of the position, assists the VP Commercial Services, Director Commercial Services, and Director Community Accounts in duties related to the operations of the department, as required.
- Undertakes special projects, as required.
Education / Certifications / Experience:
- Post-Secondary education in a related discipline, ideally at the University level, typically in Business Administration, Economics, Real Estate Finance, Real Estate Appraisal, Applied Geography, Accounting, or Finance.
- Minimum 15 years experience in a financial institution, ideally 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.
- External Accreditation within the risk management field within a maximum of three years (e.g., Robert Morse and Associates)
- Significant real estate finance skills and analytical skills, with proven mathematical aptitude.
Key Skills and Competencies
- Principles, practices, and techniques related to banking generally and commercial credit assessment specifically.
- Generally available banking industry products and services.
- General market conditions, industry trends, and best practices in the financial services industry, in regards to commercial credit and service delivery.
- Management principles, practices, and techniques.
- Legal requirements as they relate to the delivery of commercial credit and banking products and services.
- General macro-economic trends affecting our economy, and the market within which we operate specifically.
- The incumbent shall show willingness for continuous learning and skills upgrading.
- Thoroughly analyze situations and problems and make informed and supportable decisions.
- Communicate effectively, with management and employees, with above average written and oral communication skills.
- Make effective presentations.
- Exercise tact, initiative, discretion, and judgment.
- Work under pressure, on numerous tasks simultaneously, to meet deadlines.
- Work effectively with others, demonstrating dependability, adaptability, and a willingness to take direction as required.
- Work either independently, or in a team environment.
- Provide guidance to a team of senior sales and underwriting staff.
At Alterna, we offer a competitive total rewards program and an opportunity to truly make a difference. If you put people first and value excellence and integrity, we hope you'll apply!
* Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills and competencies outlined below.