• Job Description

  Req#: req1794

  Sr. Commercial Funding Officer

  MCAP at a Glance

  Joining MCAP means you will be a part of our diverse workforce of highly talented individuals who are recognized for their expertise and success! At MCAP, your professional expertise, commitment to teamwork and passion for service excellence are recognized and rewarded with competitive total rewards offering, a career with continuous learning and development (formal & informal training), and exciting opportunities in a dynamic, entrepreneurial environment.

  The Role

  Reporting to the Associate Director, Commercial funding, in addition to the regular responsibilities of a Funding Officer, the primary focus of the Senior Funding Officer will be to effectively and efficiently fund complex CMHC insured and Conventional Commercial loans and Construction Financings ensuring that all security is in place and pre-funding conditions have been met prior to the release of funds.

  The incumbent will also be responsible for piloting and documenting the funding process for any new Investors, Borrowers and Brokers as well as any new product lines introduced to the Commercial Line of Business. Exceptional customer service is critical to the role in order to build and maintain relationships.

  Key responsibilities for this role are to ensure service standards are attained for processing all mortgage advances in accordance with company policies and procedures. The Senior Funding Officer will be responsible for processing financial and non-financial transactions; ensuring data records are accurately maintained; identifying credit risks and ensuring loan security is in place and is retained.

  In circumstances where the Associate Director is unavailable, the Senior Funding Officer may be called upon to fulfill some of the responsibilities for the day-to-day operations of the funding group. This will include but is not limited to assigning new loans to the funding officers, monitoring and updating data records that are used for loan allocation (pipeline) and providing support to the Management team.

  Fulfillment of Contractual Funding Obligations

  • Review commitment letters, Loan Summaries, and CMHC Certificate of Insurance to ensure all the security, funding and AML conditions are satisfied in terms of the loan agreement.
  • As a Senior Funder, the incumbent is accountable for day-to day funding responsibilities and, to fund complex CMHC insured loans for over $35MM, Conventional line of business and Construction Financings.
  • Review QS reports and trade suggestions, make recommendations to Investments Management, prepare Sub-advance worksheets and submit for Management for approval.
  • Pilot and document the funding of new product lines introduced into the Business Unit
  • Accountable for implementing, co-ordinating or updating MCAP’s Funding team’s internal guidance and procedures.
  • Responsible for onboarding new hires, cross-training funding officers on new procedures and new tasks and new trainings.
  • Provide assistance to Funding Associate Director in new project/tasks.
  • Manage Funding related reports and make sure accurate data is available in Precision LM and SharePoint.
  • Review and verify complicated Borrower/Guarantor corporate structure as it is represented to CMHC and/or Investor.
  • Provide leadership in Portfolio advances while constantly providing guidance to funders as to new progress, new expectation, and changes.
  • Provide assistance to Funding Officers in reviewing complicated AML structure, reviewing title matters, preparing exception requests.
  • Providing support to Funding Officers in identifying disconnections/discrepancies in files and make sure an appropriate action is taken and the amendments are in place in a timely manner.
  • Responsible for updating Funding’s third-party approved list. In case of engagement of any non-approved third-party, the incumbent is responsible to conduct independent due diligence and vet the subject upon request of management.

  Risk Management and Compliance

  • Accountable for all mortgage transactions, , to ensure funding timelines are met. all critical fields on Precision LM are accurate allowing sufficient time for the loans that are being sold to the CMB program to be approved, sold and pooled to create MBS on behalf of CMG Investors
  • Identify credit risks and ensure loan security is in place/retained
  • Ensure Anti-Money Laundering and Know Your Client legislation is adhered to on all files
  • Maintain comprehensive knowledge of the company’s funding procedures, standards, Investor contracts and CMCH policies

  What You Bring To The Team

  • Five years commercial funding experience
  • Strong understanding of commercial mortgages, funding procedures and legal mortgage terms
  • Strong interpersonal skills with the ability to work both independently and collaboratively within a team environment
  • Ability to effectively transfer knowledge and provide training to individuals, fostering a collaborative and skilled workforce
  • Proven ability to prioritize; strong organizational and time management skills with the demonstrated ability to handle multiple tasks within tight deadlines
  • Results oriented
  • Excellent organizational and time management skills; ability to prioritize
  • Exceptional verbal and written communication and reasoning skills
  • Highly analytical with great attention to detail
  • Able to maintain a professional attitude with excellent interpersonal skills
  • Excellent problem-solving skills and conflict resolution skills
  • Strong customer service skills
  • Working knowledge of MS Office and an aptitude for learning new systems and processes
  • University degree or College Diploma in Finance, Business or equivalent

  If this sounds like you and you are looking to be a part of one of Canada’s largest independent mortgage finance companies, then we want to hear from you!

  Be A Part Of Something Great
  
  MCAP is Canada’s largest independent Mortgage Finance company with over $150 billion in assets under management providing mortgage solutions for residential and commercial properties. For over 35 years, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a consumer's best option and MCAP actively promotes the services of mortgage brokers across the country. MCAP is also a leader in the Canadian residential construction lending market with over 25 years in the business. Our teams of dedicated professionals serve a variety of developer, construction and lender clients across Canada.

  Position #: req1794

  Employment Status: Permanent Full Time

  Location: Toronto; Ontario

  Department: Commercial Mortgage

  Internal Job Title: Sr. Commercial Funding Officer

  Salary Range: $72,000 - $95,000

  
  

  The above information in this description has been designed to indicate the general nature and level of work performed by employees in the position. It is not designated to contain a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
  

  MCAP provides equal opportunities for all applicants and is committed to fostering an inclusive, accessible environment, where all employees feel valued, respected and supported throughout the recruitment and employment process. If you require accommodation, we will work with you to meet your needs.

• About the company

  MCAP is an independent mortgage financing company with over $111 billion in assets under management providing mortgage solutions for residential and commercial properties. Founded in 1981, MCAP originates, trades, securitizes and services mortgages in offices across Canada. MCAP originates residential mortgages exclusively through the mortgage broker channel as we believe that a professional mortgage broker is a homeowner's best option and MCAP actively promotes the services of mortgage brokers across the country.

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