Vice President, Commercial Real Estate - Toronto, Canada - RFA Canada

RFA Canada

Verified Company

Toronto, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

RFA's mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank with a focus on Canadian mortgage products.

RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending).

The Bank's commercial mortgage operations focus on large commercial exposures in the construction and term lending space. Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.

RFA's strategic vision is to be a longterm leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutionsoriented product suite, RFA's goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.

The Opportunity

Reporting to the President & CEO, the Vice President, Commercial Real Estate is accountable for all commercial lending activity in the Bank, including, but not limited to: Insured multiresidential, commercial term lending; and commercial construction lending. Ongoing strategic direction for the portfolio and management activity for all commercial and multiresidential loans held by the Bank are included in this purview.

Accountabilities include but are not limited to:

oversight and reporting on the business lines' performance from both volume and risk perspectives; development and implementation of governance; and ensuring all activities in the purview are operating within the Bank's stated risk tolerance.

Core Responsibilities

Customer Results
Lead the Commercial team in achieving set objectives as it pertains to origination and underwriting of multiresidential and commercial debt.
Directly responsible for implementation and management of the Commercial Term, Commercial Construction, and Insured Multi-Residential lending programs.
Generate and deliver reporting to Senior Management/Executive (monthly) and Board of Directors (Quarterly). Reporting to include portfolio performance and forwardlooking strategic objectives and opportunities.
In conjunction with Enterprise Risk Management, development and implementation of policies pertaining to new originations and acquired assets.
Development and implementation of RFA Bank's commercial underwriting governance including, but not limited to: Multi-Residential, Construction, and Commercial Guidelines; Standards; and Processes. Governance to adhere to the Bank's credit, AML and compliance policies and Risk Appetite Framework while maintaining competitive position in the marketplace.
Handle difficult interactions and unpopular decisions, balancing business partner satisfaction with quality standards established by the Bank.
Accountable for the quality objectives of the commercial credit group, including monitoring of arrears and default levels; emerging and existing trends; ongoing portfolio assessment for higher risk and/or monitored loans; and upcoming maturities.
Lead and manage relationships with third party service providers employed by the Bank's commercial group (including, but not limited to: MCAP's Development Finance Group; MCAP's Commercial Mortgage Group; First National's Commercial Mortgage Group; and Peakhill Capital).
Ensure prudent fiscal management of outsourced resources, reviewing and approving monthly billing and assessment of requirements (e.g. Purview; Equifax; Transunion)
Risk Management
Participate in review of Quality Assurance reviews and provide feedback to account managers to support the risk objections of RFA Bank of Canada.
Liaise with Quality Assurance, AML, and Credit Risk teams to ensure loan quality and best practices while ensuring service levels are not compromised.
Ensure timely and compliant commercial mortgage funding with coordination of internal and external stakeholders.
Liaise with ERM for internal assessments including, but not limited to: Risk Control Self Assessments; Regulatory Risk Assessments; Compliance Testing; and input and approval of Key Risk Indicators into Resolver, the Bank's risk management system.
Assist the CAMLO in development and ongoing implementation of AML procedures for the Bank's commercial lending activities.
Ensure timely completion of ongoing portfolio management activities in the commercial lending book (e.g. annual and quarterly reviews, as required).

Customer/Stakeholder Interaction

Escalation points for clients dissatisfied with adjudication re: changes to existing loans (eg. Allowing second mortgages; borrower paid taxes; ports; title transfers; and assumptions)

Financial Responsibilities- Attaining revenue targets associated with insured multi-residential program.