Commercial Account Manager

Position Title: Commercial Account Manager
Reports To: Private Investments, Vice President
Department: Private Investments
Term: Permanent Full-Time

Work Arrangements: This is a hybrid role. You will work in our office in Waterloo, ON a minimum of two (2) assigned, consecutive days every other week, plus a fifth (5th) assigned day per month. You are welcome to work from the office more than the minimum requirement and there may be some roles that are required to work in our office more than the minimum requirement.

The Opportunity: Equitable is growing! We are looking for a Commercial Account Manager to join our Private Investments team!

This role will develop and maintain quality real estate investment assets, maintain underwriting standards through credit assessment and Commercial Mortgage Portfolio, and encompass all aspects of financial and investment analysis for new and existing commercial mortgage investments!  

Now is an exciting time to join one of the Waterloo Area’s and Southwestern Ontario’s Top Employers for 2024!

What you will be doing:

• Source new commercial mortgages (including CMHC insured) to achieve volume targets within quality and term parameters and that meet investment benchmarks.
• Underwrite new mortgage proposals by conducting a thorough assessment of the property, tenants, third party reports and borrower/guarantor information to ensure undue risk is not being assumed and returns are appropriate.
• Structure, negotiate and issue detailed commitment letters with approved terms and conditions to comply with underwriting criteria and mitigate risk.
• Direct and co-ordinate the work of external sources, including legal counsel, to ensure suitable final security and loan documentation is in compliance with approved terms and conditions and oversee the advance/funding process.
• Assist in the management of the Commercial Mortgage Portfolio including financial performance and administration, effectively managing client relationships and maintaining credit risk controls.
• Assist in preparing annual reviews of existing loans to ensure appropriate continuing security, profitability and ratings of the portfolio are maintained.
• Review loans approaching maturity to evaluate if the investment remains acceptable, preparing renewal application if so, and negotiating repayment or revised terms and conditions if necessary.
• Monitor the portfolio to identify undesirable assets, developing and implementing action plans if necessary to correct delinquencies or defaults, or in the case of non-performing loans, to enforce the security documentation to ensure the repayment of the loan.

What you will bring:

• University degree, preferably in Business, Accounting or Economics. A.A.C.I. designation or other real estate designation.
• Ten years’ demonstrated extensive mortgage/real estate lending experience with an established financial institution.
• Experience in commercial real estate valuation methodology, spreadsheets and credit and property analysis
• Solid understanding of land development processes, feasibility studies and valuation and appraisal techniques and methods.
• Knowledge of various real estate loan structures and how to structure transactions
• Thorough knowledge of commercial property market conditions and trends for values, costs, fees and lending rates.
• Working knowledge of laws relating to commercial mortgage lending, environmental liability, and mortgage defaults and foreclosure.
• Knowledge of mortgage documentation, legal opinions and other related legal agreements.
• Demonstrated negotiation skills with ability to lead discussions with borrowers, brokers/agents, and lawyers to ensure best results for the Company.
• Excellent interpersonal skills and strong oral and written communication skills.
• Computer literate in Word/Excel in Windows environment.

What’s in it for you:

• A healthy work-life balance with employee wellness top of mind
• Annual bonus program, annual vacation allowance, and company-paid benefits program
• An additional paid volunteer day each year so you can spend time giving back to the community
• Immediate enrollment in the company’s pension program with employer matching
• Employee resource groups that support an inclusive work environment
• Tuition support and specialized program assistance
• An onsite, full-service cafeteria with a variety of daily options
• Discounts on company products and services, and access to exclusive employee perks
• Regular EQ Together events focused on company togetherness and collaboration
  
  

As part of the recruitment/offer process you will be required to:

• Provide two professional references (minimum one supervisor and above)