Loan Officer - Fixed Term Contract

at  Infrastructure Ontario

IO’s Finance, Technology, and Lending Enterprise Team ensures that IO is a financially efficient and effectively managed organization and that the agency’s finances are monitored, reported, and managed appropriately. The team also manages the infrastructure lending program, which has supported more than $19 billion in local infrastructure development, and IO’s Information Technology and Business Services, providing tools and systems to ensure secure, effective, and efficient operations.
IO’s Loan Program is established to provide low-cost construction and long-term financing to certain eligible borrower sectors. Since inception, the Loan Program has supported over $21 Billion in project value across the province of Ontario.
The bulk of IO’s loan portfolio consists of loans to municipalities across Ontario. The Loan Program also provides financing to other sectors, including not-for-profit affordable housing, not-for-profit long-term care providers, municipally owned local distribution and electricity generation providers, hospices etc. Our projects are evident in nearly every municipality across the province. Consider joining this team which plays an integral role in modernizing infrastructure in your community.
This position requires an individual who can manage the loan application process, short and long-term financing needs, banking transactions, internal/external requests for data, and operation of the loans systems.
For further information regarding IO’s loan program, please visit: https://www.infrastructureontario.ca/Infrastructure-Lending/
As part of the Infrastructure Ontario lending team, this role will provide support and coordinate the intake, exchange, and review, of loan applications from initial intake by the relationship managers, through the underwriting and credit adjudication and approval process, to coordinating the execution of financing agreements and collection and review of documents required to fund loan advances.
The successful candidate will be responsible for organizing, managing, and working in close collaboration with relationship managers, underwriters, and legal counsel to ensure that all required documentation for short and long-term financing requests, annual reviews and loan renewals are sent out and reviewed in accordance with the applicable timelines for funding advances, and for answering questions from clients at all stages of the loan lifecycle.
Deliverables include administering the payments process for incoming principal and interest payments, tax accounts and capital reserve accounts for IO’s loan program and payment reconciliations accordingly with IO’s Finance and Treasury team.

WHO WE ARE LOOKING FOR:

• Relevant academic background such as Finance/Business/Economic degree or equivalent work experience.
• Good understanding of financial and/or loan theories, principles and practices.
• Previous working experience and knowledge in construction financing and municipal lending would be considered as an asset.
• Knowledge of public/corporate finance, banking and business administration principles.
• Excellent written and verbal communication skills to provide information and respond to queries from IO management and staff, stakeholders and municipal contacts.
• Exceptional organizational skills with the ability to work within tight deadlines.
• Ability to manage documentation and complex processes.
• Advanced database/spreadsheet skills (Excel, Access, etc.) and ability to analyze, interpret, and synthesize financial data to prepare reports.
• A strong understanding of loan managements systems

• Assist clients in completing a successful loan application, including providing guidance on the process to clients, issuing user ID and passwords for the online application, and providing assistance to clients in completing the online form/documentation.
• Ensure the correct municipal by laws, certificates, and other supporting documentation are received from clients and reviewed by legal in accordance with applicable timelines.
• Ensure all required supporting documentation for loan advances are submitted by clients and reviewed for completeness and quality of information in accordance with the applicable timelines.
• Track client files through the application process and follow up with clients and internal colleagues (credit, legal, relationship managers) to ensure timelines are met.
• Work with corporate legal to correctly finalize financing agreements for municipal clients.
• Maintain and file loan application/client information in Infrastructure Ontario’s record management system.
• Organize and manage the documentation for short and long-term financing requests, annual review and renewals, to ensure high quality client service.
• Work closely with corporate legal to confirm all required documentation is collected and reviewed prior to flowing funds.
• Proactively follow up and discuss with clients long and short-term financing options, timing, and update of cash flow forecasts where required.
• Participate in all loan system User Acceptance Testing including testing and evaluation of all loan system upgrades, reconciliation of data and information, identification of problems or errors and recommends solutions.
• Receive and respond to calls from new/existing clients, ensuring a high level of customer service and the provision of timely and accurate information.
• Respond to internal and external data requests, including audit summaries, for loan information and produce reports for senior management/ministries regarding the status of the loan applications and cash flow activity.
• Provide annual information statements, payment statements and interest accrual statements to clients as required.
• Administer payments for IO’s loan portfolio.
• Any other tasks and responsibilities as required.