Credit Manager, Specialized Lending

Why DUCA?

We’re a vibrant, exciting credit union that lives its "profits with a purpose" philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.

We exist to help People, Businesses and Communities Do More, Be More, and Achieve More.

DUCA (www.duca.com) is the fastest organically growing large Credit Union in Canada distinguished for the following:

• Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
• Competitive rates.
• Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
• Profit sharing among Members.
• Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7.
• A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA's designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with one of Canada’s fastest growing credit unions means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.

Credit Manager, Specialized Lending

Job Purpose & Summary

The Credit Manager, Specialized Lending will be accountable for adjudicating high net worth Member loans secured by investments and insurance through sound credit granting principles. Credit decisions will be kept within the parameters of DUCA’s risk appetite and tolerances, and comply with DUCA’s policies, procedures and guidelines.

By developing strong relationships with both the Specialized Lending Team and external partners, the Credit Manager, Specialized Lending will ensure Member satisfaction and support the healthy and sustainable growth of DUCA’s Specialized Lending loan portfolio.

As a senior credit professional, the Credit Manager, Specialized Lending will also be involved in monitoring market conditions and any regulatory changes that would require changes to credit policies, procedures and guidelines related to Specialized Lending.

Key Accountabilities & Duties

• Review and adjudicate credit applications and transactions within assigned credit limits in a timely manner.
• Provide independent, objective reviews and approvals to credit applications and other matters which have been agreed to and/or recommended by the Specialized Lending Team.
• Review all Specialized Lending loan applications and reviews prior to submission to senior management, to ensure the completion of due diligence and adherence to DUCA’s policies and guidelines.
• Provide decisions and approvals on adjudicated credit transactions/applications and communicate effectively with Specialized Lending Management to ensure rationale and decision is clearly understood.
• Review commitment letters and draw requests to ensure credit terms and conditions are respected.
• Write succinct credit memos or credit announcements to communicate credit perspective and rationale for new credits and credit extensions.
• Communicate with Specialized Lending Team about specific credit applications and transactions to seek further information and modifications, if needed. Discuss appropriate structuring for the deal and criteria required for approval. Ensure that all information is credible, accurate, and relevant, including analysis and evaluation of the technical aspects (e.g., financial analysis, credit terms, structure, and collateral).
• Respond to and resolve escalated issues raised by the Specialized Lending Team.
• Support DUCA’s Specialized Lending Team to ensure Member satisfaction.
• Support the healthy and sustainable growth of a profitable Specialized Lending loan portfolio by ensuring the credit granting provided is within DUCA’s prescribed asset quality standards.
• Monitor market conditions and make recommendations for enhancements to existing policies, procedures and guidelines.
• Assess the impact of regulatory changes to existing policies, procedures and guidelines.
• Provide support in strategic projects, policy and process improvements initiatives related to Specialized Lending.

Occupational Experience & Education Requirements

• Bachelor’s Degree in business or a related field; or equivalent work experience in high net worth lending within banking industry.
• Pursing or having a CFA/CGA/MBA is considered an asset.
• Prior investment and insurance lending experience is an asset.
• Minimum 4-6 years’ experience in a high net worth lending underwriting / adjudication capacity.
• Minimum 4 years knowledge of financial statement analysis.

Knowledge, Skills & Attributes

• Sound credit judgement. Ability to understand the risk return trade-off and come up with well thought-out solutions to mitigate credit risk.
• Ability to articulate complex credit applications into succinct and balanced recommendations.
• Knowledge of various due diligence reports related to investment and insurance lending (Insurance Policies, Insurance Discussion Papers, Financial Statements, Tax Documents, Investment Statements, Pension Statements, etc.).
• Understanding of commitment letters and other legal documents from a credit perspective.
• Financial Statement analysis experience.
• Understanding of high net worth banking practices and end-to-end credit process.
• Analytical skills and attention to details.
• Problem-solving capabilities and excellent organizational and time management skills.
• Proficiency with MS Office Suite of products.
• Experience working with a banking software.

Working Conditions

• Some roles eligible for hybrid work environment.

Department: Retail Credit

Primary Location: Corporate Office

Employment Status: Full-time

Hours per Week: 38

Salary: The annual salary range for this position starts at $78,149. Actual annual base salaries will vary depending on relevant job-related factors such as experience, knowledge, skills, qualifications, and education/training. Depending on the position, DUCA’s total compensation package may include incentive compensation tied to company and individual performance or other benefits.

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Qualified applicants are encouraged to submit their application. Applications must include a resume.

We thank all applicants but only those considered for an interview will be contacted.