Job Posting Details

Commercial Lending Administrator, Estonian (Toronto) Credit Union

Location:Toronto, Ontario
Posting Date:August 31, 2018
Closing Date:until filled
Web Site:www.estoniancu.com
Employment Type:Full-time

Estonian Credit Union

The Estonian Credit Union has been providing financial services primarily to members of the Estonian community and a growing number of friends for over sixty years.  Our unique combination of a high level of customer service, no-fee day to day banking, and very competitive interest rates is hard to beat.  Because our customers are also our owners (members), we can focus 100% on doing what is best for our customers.  With close to 5,000 members and over $146 million in assets, we are growing and looking to add a key person to our Commercial Lending team.

Commercial Lending

Our commercial lending department has experienced significant growth over the past few years and is a key element of our business strategy for the future.  With a solid management team in place the secure book of business has grown to over $40 million in primarily commercial mortgages. 

The Role

The Commercial Lending Administrator is a full-time position reporting directly to the Manager, Commercial Lending and is responsible for the administration of the commercial loan portfolio.  The Administrator works closely with the credit union’s commercial lending consultants, syndicate partners, lawyers, borrowers, and member service personnel.  The role provides a unique opportunity to learn from seasoned industry veterans and to make a visible contribution to the success of the team.

This position is important to the future growth of the Estonian Credit Union and can provide an excellent development opportunity for an individual who thrives in an atmosphere where multi-tasking and the ability to learn quickly and perform efficiently are necessary assets.  This is a unique opportunity for an individual keen on developing a career in commercial lending/retail banking and eager to make a real impact and advance in a more personal, cooperative financial setting. 

Primary Responsibilities

  • Perform administrative activities related to setting up, advancing, monitoring, reviewing, and discharging commercial loans: 

    • Prepare required documentation for credit and mortgage transactions
    • Verify, register, renew, discharge and administer all required security and searches
    • Monitor and maintain commercial portfolio, updating documentation and registrations when necessary
    • Participate in the addition of new loans to the commercial portfolio by assisting in the application process
    • Monitor and ensure that all conditions precedent are received prior to funding credit facilities
    • Follow up with solicitors to obtain reporting documents and then review documents to ensure all documents received are accurate
    • Process and monitor the loan payments and handle inquiries made by the members
    • Identify signs of unusual or suspicious account activities and make recommendations so as to minimize the risk factors
    • Manage the annual review process
    • Communicate with various business partners including borrowers, legal representation, brokers, and other financial institutions.
    • Maintain organized and up-to-date credit union records
  • Open and close business member accounts, and complete corresponding paperwork, staying in compliance with credit union and government policies and regulations
  • Identify member needs and promote credit union products and services, maintaining up-to-date knowledge of lending and deposit services and products and referring members to specialists such as investment advisors or residential mortgage lenders to assist with specific or more complex needs
  • Demonstrate the credit union’s corporate values in day to day work, external communications, and interpersonal relations

Key Competencies/Requirements

  • Prior experience in loan administration or commercial lending is an asset
  • University or college degree, preferably in business, commerce or legal discipline
  • Strong organizational skills
  • Attention to detail, accuracy
  • Numerate with ability to read simple financial statements
  • Independent team player- able to work with minimal supervision and handle multiple priorities, able to identify requirements and source solutions, able to work together effectively with others in a team
  • Desire to provide an exceptional experience and service for members, applicants, brokers and syndication partners
  • Strong verbal and written communication skills with the ability to deal with difficult or non-compliant borrowers courteously but firmly
  • Ability to recognize risk and escalate appropriately
  • Proficient in computer programs such as Microsoft, Word and Excel
  • Honesty, integrity and sound judgement
  • Must be bondable

Interested?

Submit your resume with a covering letter describing why you would like to join the Estonian Credit Union, your interest in this role, and the skills and attributes that you bring to our team to careers@estoniancu.com.

We thank all candidates; however, only those to be interviewed will be contacted.