Senior Account Manager, Special Loans and Restructuring

The Senior Account Manager, Special Loans and Restructuring, is responsible for managing commercial default files, certain commercial loans designated as “problem accounts”, which include but are not limited to conventional and construction facilities while adhering to underwriting standards and the Company’s policies and procedures (including AML requirements, as applicable).  The incumbent is responsible for enforcing the conditions of the mortgage contract on facilities in default as directed by Management, while providing proactive and efficient resolutions/work out strategies to avoid legal action when feasible while minimizing losses to the Bank.  The incumbent at times will act as the key primary contact for communicating and co-operating with both internal and external stakeholders (such as legal counsel, real estate agents, brokers, partners and other internal departments within the Bank) and representing the Bank in the professional community to ensure transactions are processed in a timely and efficient manner.

The Senior Account Manager, Special Loans and Restructuring will provide direct support to the Associate Director, Special Loans and Restructuring by performing a variety of functions associated with default management, including underwriting/credit analysis, portfolio management/monitoring, reporting, projects and initiatives and other administrative duties, which may include ad hoc requests by Senior Management.

In addition, the incumbent will assist with completing site inspections as required for portfolio management purposes and/or default loans.  

The incumbent will manage and/or administer complex delinquent and problem commercial mortgages (generally loans exceeding $2.5MM) while minimizing losses to the Bank, process loans for legal action for non-payment (including past maturities, tax arrears, insurance cancellations, bankruptcies/liens, etc.) and conduct full financial review prior to recommending  appropriate legal remedies to Senior Management, manage legal action loans and enforce on remedies/conditions as warranted, while ensuring compliance with established default/workout strategies are implemented in a timely and efficient manner.  Liaising with key stakeholders, both internal and external, will be a key responsibility, and forms part of determining and negotiating successful workout strategies.

The incumbent is responsible for performing, reviewing and correlating all aspects of underwriting (including collateral analysis and valuation) for defaulted loans and problem accounts, while ensuring that each submission addresses heightened risk elements, as identified, including monitoring and ensuring risk ratings on default loans are updated timely and reported to the appropriate internal stakeholders.

The incumbent will work closely with the Mortgage Services team and provide assistance to manage, monitor and/or resolve commercial delinquencies and certain default loans deemed to be non-performing, while providing timely updates to Senior Management as warranted.

There may be circumstances where the incumbent will assist in providing direct oversight on properties that are held by the Bank for recovery purposes. 

The incumbent will also be responsible to ensure timely preparation of various reports required by Senior Management, the Board of Directors and external regulators (such as quarterly Problem Loan reports, monthly classified and watchlist reports, monthly arrears monitoring reports, provisioning reports, loan monitoring reporting etc.) including ad hoc reporting or analysis as required by Management. 

The incumbent will actively work with Senior Management to continuously strive for operational efficiency and implement improvement measures to ensure departmental requirements are met on a timely and effective manner.  This may include participating and/or launching ad hoc projects, establishing new policies and procedures and/or other related initiatives to deliver superior service to all stakeholders.

Have a minimum of 5-7 years of commercial mortgage experience or related, with previous default experience preferred.

Business degree or a related discipline, and/or a CPA or similar professional designation or equivalent work experience.

Understanding of mortgage enforcement remedies and foreclosures across Canada.

Effective analytical and problem-solving skills.

Sound technical knowledge of secured lending and factors affecting the commercial mortgage market, with strong understanding of end-to-end processes.

Established and meticulous time management and organizational skills.

Sound multi-tasking skills with strong attention to detail when handling multiple competing priorities under tight timelines.

Proven ability to thrive in a constant changing environment and ability to perform under a high intensity environment.

Self-starter with the ability to work independently.

Developed and effective negotiation and communication skills, both oral and written.

Excellent presentation skills and ability to professionally communicate with Senior Management and other stakeholders (both internal and external).

Proficient in MS Office.

Possess a valid driver’s license.  Ability to travel within the provinces, with some overnight travel required from time to time.