Account Manager, Real Estate Lending

at  VersaBank

LOCATION: LONDON, ONTARIO

VersaBank is an inclusive, entrepreneurial, Schedule 1 Chartered Bank with over $4.3 billion in assets and growing. As Canada’s most innovative bank, VersaBank operates as a branchless financial institution that obtains its deposits and provides most of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses.
VersaBank’s Common Shares trade on the Toronto Stock Exchange (“TSX”) and Nasdaq under the symbol VBNK. Our Series 1 Preferred Shares trade on the TSX under the symbol VBNK.PR.A. Our head office is in London, Ontario, with various offices located across Canada. For more information on VersaBank, please visit our website at www.versabank.com.
We are currently looking to add an Account Manager to our Real Estate Lending team. This is currently a hybrid role located in London, Ontario.
As an Account Manager, Real Estate Lending you will be responsible toprovide account management oversight for the new and existing lending relationships as well as the performance of those accounts. Your primary areas of focus will be marketing plan execution, account management, reporting, and credit preparation.
With strong analytical, negotiation, and decision-making skills this role will have a large impact on the financial health and stability of the Bank.

Primary Responsibilities include:

• Source, negotiate, prepare and recommend for approval financing for new and existing clients
• Ensure new lending transactions meet satisfactory underwriting standards by:
• Negotiating and structuring new lending transactions
• Ensuring compliance with corporate policies and procedures
• Ensuring all credit and other risks are adequately identified in credit correspondence and credit structure mitigants are recommended; and,
• Ensuring all terms and conditions of credit are complied with at the time of each loan advance
• Ensure assigned accounts are properly managed according to internal policies and procedures
• Ensure credit reviews are completed on a timely basis or the necessary approvals for extensions are obtained
• Ensure prescribed terms and conditions of credit have been respected
• Ensure aspects of increased risk are identified and communicated
• Ensure late payments and matured credits are followed up on a timely basis
• Ensure appropriate action plans are developed where conditions of deterioration of credit risk have been identified
• Ensure that watch list reports are completed on a timely basis where required
• Communicate to the appropriate levels all instances where potential for credit loss has been identified
• Responsible to remain current and comply with anti-money laundering and anti-terrorist financing legislation, regulations and requirements (including all internal policies and procedures) as they pertain to the position’s area(s) of responsibilities.

Qualifications:

• Bachelor’s degree in business, Finance, Accounting or related field or equivalent work experience.
• Master’s degree in business administration, Chartered Accountant Designation or FICB degree is preferred.
• 3+ years of work related experience in marketing credit products and real estate lending.
• Multidimensional banking professional with a background in all aspects of the commercial credit function
• Previous experience in credit underwriting with a broad spectrum of clients
• Superior analytical and decision-making skills based on effective risk assessment/management.
• Strong verbal and written communication skills.
• Superior client service skills with the ability to build strong effective relationships with partners and stakeholders
• Proficient knowledge of standard office equipment including PC skills with emphasis using MS products including Word & Excel.

We offer excellent career advancement opportunities, an informal, positive work environment, and a very competitive compensation package that includes base salary, an outstanding benefit package, tuition refund program, pension supplement, fitness club membership and participation in an attractive incentive award program.

• Source, negotiate, prepare and recommend for approval financing for new and existing clients
• Ensure new lending transactions meet satisfactory underwriting standards by:
• Negotiating and structuring new lending transactions
• Ensuring compliance with corporate policies and procedures
• Ensuring all credit and other risks are adequately identified in credit correspondence and credit structure mitigants are recommended; and,
• Ensuring all terms and conditions of credit are complied with at the time of each loan advance
• Ensure assigned accounts are properly managed according to internal policies and procedures
• Ensure credit reviews are completed on a timely basis or the necessary approvals for extensions are obtained
• Ensure prescribed terms and conditions of credit have been respected
• Ensure aspects of increased risk are identified and communicated
• Ensure late payments and matured credits are followed up on a timely basis
• Ensure appropriate action plans are developed where conditions of deterioration of credit risk have been identified
• Ensure that watch list reports are completed on a timely basis where required
• Communicate to the appropriate levels all instances where potential for credit loss has been identified
• Responsible to remain current and comply with anti-money laundering and anti-terrorist financing legislation, regulations and requirements (including all internal policies and procedures) as they pertain to the position’s area(s) of responsibilities