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Senior Equipment Underwriter (Credit Analyst)

Jan 8, 2021

Company: Coast Capital Savings Auto & Equipment Finance 

Location: Ontario (CA-ON), Toronto  

Job Type: Full-Time  

Pay Grade: 10 

Posting End Date:  

 

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What’s the job?

The Sr. Equipment Underwriter (Credit Analyst) plays a key role in analyzing and underwriting Equipment credit submissions from the CCAEF Origination Team and External Third Party Agents. Sr. Equipment Underwriters are accountable for providing application approval on qualifying applications within delegated lending limits, while exercising good judgment in balancing risk with corporate production goals. This individual will act as a primary resource for CCAEF origination partners and will provide guidance on credit risk assessment and deal structure within CCAEF guidelines. Sr. Equipment Underwriters are expected to have a focus on commercial underwriting applications over $750K.


What you’ll get to do:

  • Conduct financial analysis and prepare credit applications to assess borrower, industry and facility risk complete with risk mitigation proposals and clear rationale for the recommended structure.
  • Provide coaching, training and mentorship to peers, encouraging and providing cross-sharing of knowledge and on- the-job experience among team members and between teams.
  • Manage the relationship building process with the CCAEF Origination Team and External Third Party Agents to ensure a consistent and high level of service delivery.
  • Work with the origination team and external third party agents to ensure EASY Values, Superior member experience and seek innovative ways to meet customer's credit needs and ensure positive customer experience while still applying sound credit decisions within the CCAEF credit appetite.
  • Develop a collaborative working relationship with CCAEF Credit and Group Risk Management to understand and consistently apply CCAEF credit policies and guidelines.
  • Remain current on industry trends and latest frauds in the market in order to mitigate CCS risk when reviewing and underwriting credit.
  • Monitors risk and pricing trends in equipment applications in order to make recommendations for changes to policy and/or guidelines to ensure production, risk, and profitably are balanced.
  • Ensure compliance with Corporate Lending Policies, CCAEF Credit Policies, Procedures, Guidelines and all regulatory and compliance requirements.
  • Shares in the responsibility for quality of the lending book of business.
  • As part of the underwriting process, responsible for reviewing and assessing all documentation, calculations for accuracy and authenticity, including updating LOS application notes and file repository to reflect supporting documentation received.
  • Reviews files to ensure adequacy of return for risk.
  • Communicate clearly to ensure contract fulfillment instructions are clear and sent in a timely manner to all applicable personnel and/or External Third Party Agents.
  • Assists with oversight and monitoring control for the Equipment portfolio including items like customers’ adherence to lending requirements such as covenant and annual reviews.
  • Work closely with the CCAEF Origination Team and External Third Party Agents to coach on deal structure and restructuring as necessary while being mindful of maintaining good risk practices.
  • Communicate decisions within defined service level agreements.
  • Manage/support the LOS origination queue.

 

 

Who are we looking for?

  •  A minimum of 6-8 years of lending experience, in commercial &/or equipment finance businesses. Working knowledge of Personal Property Security Act, Business Practices and Consumer Protection Act, Bank Act, relevant aspects of Criminal Code is preferred.
  •  Bachelor's Degree or a diploma requiring 3 - 4 years of full-time study.
  •  University degree in Finance, Accounting, business administration, Commerce or equivalent. Professional designation in banking (FICB), Credit (FCI) is an asset. 
  •  Advanced knowledge of commercial credit analysis, negotiation, security and legal procedure including an advanced knowledge of regulatory and statutory provisions related to equipment financing.
  •  Advanced knowledge of spreadsheets, word processing and other work related systems/applications.
  •  Advanced knowledge of generally accepted accounting principles / International Financial Reporting Standards.
  •  Advanced knowledge of economies across Canada and trends in equipment finance across variety of industries.
  •  Ability to work with and communicate with law firms and other professionals regarding asset/security valuations and documentation.
  •  Applicable length of experience in credit adjudication across multiple industries and asset classes.
  •  Ability to effectively multi-task and prioritize tasks using strong organizational skills along with a high attention to detail.
  •  Willingness to work on a team in a busy, ever changing, and occasionally stressful environment.
  •  Expert interpersonal skills and a demonstrated ability to communicate respectfully and effectively in both oral and written form to internal and external partners.
  •  Highly curious with the ability to critically and precisely assess and develop options to support CCAEF Origination Team and External Third Party Agents.
  •  Ability to make independent decisions and to develop and assess options to support CCAEF Origination Team and External Third Party Agents.
  •  Effectively communicate with an empathetic outlook in order coach/mentor other team members.
  •  Comprehensive knowledge of lending standards and guidelines.
  •  A questioning approach to all aspects of credit underwriting and a desire for continuous learning.

 

At Coast Capital, we value diversity, equity and inclusion. We’re not all the same and we like it that way. We don’t just accept differences - we celebrate, support, and we thrive on them for the benefit of our employees, our members, and our community. We are committed to building a team that represents a variety of backgrounds, perspectives, and skills. We believe, the more inclusive we are, the better our work will be.

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