Senior Account Manager, Special Assets

Why DUCA

Were 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 85000 Members we are proud to serve.

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

DUCA () is 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 bankonline mobile app phone/full-service Member Connect Contact Centre and of course in-branchDUCA is accessible 24/7
• A community philosophy of profits with a purpose culminating in the creation of the DUCA Impact Lab () a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCAs designation as a B-Corp certified organization the first ever credit union to receive this global recognition.

A career with DUCA means youll 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 youll be part of a vibrant and collaborative team where youll be supported to excel and make an impact no matter what role you play.

Senior Account Manager Special Assets

DUCA is looking for a Senior Account Manager Special Assetsto join our growing team!

Job Purpose & Summary

The Senior Account Manager Special Assets is responsible for managing DUCAs commercial Watch List and Special Assets portfolios comprised of high-risk loans with potential for credit losses or other irregularities. Key responsibilities include reviewing loan and security documentation and formulating and implementing recovery/restructuring action plans while balancing the objectives of avoiding losses maintaining DUCAs reputation and preserving a satisfactory Member experience.

The Senior Account Manager Special Assets is responsible for a portfolio of loans with an average exposure of $2MM-$10MM with accounts of higher value assigned as needed.

Key Accountabilities & Duties

Watch List Account Management (75%)

• Use sound judgment to actively manage the assigned special asset loan portfolio on a day-to-day basis
• Work with the Director Special Assets the Commercial Credit team and the Commercial Finance team to devise and implement an action plan for DUCAs Watch List accounts
• Independently liaise with external service providers (e.g. lawyers property managers appraisers environmental consultants receivers etc.) to develop strategies for DUCA legal files and power of sale properties
• Develop relationships with commercial Members experiencing financial hardships and/or other irregularities to devise solutions to bring the accounts back into good standing
• Become the main point of contact from beginning until debt repayment (sending files to legal counsel breach and demand letters issuance agreements/extensions execution providing instructions to back office about payouts etc.)
• Monitor and timely review of all applications/submissions/inquiries
• Liaise with financial institutions where DUCA has exposure in syndicated loans as Lead or Participant
• Represent DUCA as needed in legal matters (court appearances affidavits examinations etc.)

Watch List Portfolio Reporting / DNA inputs (25%)

• Update the banking system for watchlist accounts as required
• Maintain an up-to-date Commercial Watch List spreadsheet showing key accounts; enhance reporting format and provide other reports as required
• Complete monthly / quarterly Watch List updates on all accounts as needed outlining key developments and next steps
• Monitor delinquency reports on a weekly basis and work with Commercial Finance team to remedy situation on non-payments
• Submit estimates of expected credit losses to DUCAs Finance department in the commercial allowance report
• Review the Watch List portfolio for recommended provisions for credit losses and legal reserves
• Keep track of invoices from third parties retained by Special Assets (legal counsels financial advisors trustees receivers appraisals etc.)
• Assist the Director Special Assets in preparing relevant portions of the Credit Risk Management Policy and the Commercial Guidelines while collaborating with key stakeholders

Occupational Experience & Education Requirements

• 3 years of Commercial lending and/or credit experience
• Knowledge of restructuring special account management and work-out strategies an asset
• CIRP or LIT certification an asset
• MBA/CFA/Law degree preferred

Knowledge Skills & Attributes

• In-depth knowledge of commercial mortgages with experience and familiarity of commercial mortgage documents (commitment letters appraisals environmental reports project monitor reports etc.)
• Experience and familiarity with commercial mortgage enforcement processes and documents (notice of sale receiverships settlement agreements forbearance letters etc.)
• Demonstrated sound judgment and decision-making skills
• Proficiency with Microsoft Office products with advanced skills in Excel
• Critical thinking and problem-solving skills with the demonstrated ability to devise creative solutions in the face of a very fast-paced and dynamic working environment
• Comfort understanding risk uncertainty and making decisions in the face of incomplete information
• Effective negotiation and business writing skills
• Strong understanding of accounting standards and financial statements
• Comfort working closely with a multitude of outside service providers on DUCA power of sale properties

Working Conditions

Job requires the ability to deal with some challenging clients and Members experiencing financial and other hardships. Must have the ability to remain calm when dealing with challenging Members.

Some travel within Ontario required as site visits are to be conducted on an as needed basis within DUCAs geographical lending sphere.

Department:Commercial Credit

Primary Location:Corporate Office - 5255 Yonge Street North York M2N 6P4

Employment Status:Full-Time

Hours per Week:38

Salary:The annual salary range for this position starts at$80494. 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 DUCAs total compensation package may include incentive compensation tied to company and individual performance or other benefits.

Number of Vacancies:1

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.