Job Title Account Manager
Branch/Department Commercial Services
Reports to VP & Head of Commercial Services
Our esteemed client is a reputable Canadian financial institution, serving approximately 186,000 members through a network of 36 branches across Ontario. With over $10 billion in assets under management, they are dedicated to providing comprehensive financial services, including personal and business banking, mortgages, loans, and investment services. Furthermore, they place a strong emphasis on cooperative banking principles, such as community development and social responsibility. They are constantly seeking talented individuals to join their team and assist in their continued growth and service to members.
Scope of Position
The Account Manager will ensure that the Credit Union attains its growth objectives and manages its existing commercial real estate portfolio by assisting both new and current commercial real estate accounts in meeting their business needs. The Account Manager will further the member relationship by identifying and providing for account needs for credit, deposit and other products and services, with a focus on the larger and more complex transactions of the high value accounts. He/she will also act as a mentor to other commercial department staff as they strive to better service accounts and develop in their respective rolls.
1. Contributes to the growth and on-going maintenance of the commercial real estate portfolio:
• Sources, receives, investigates, and analyses larger and/or more complex requests for commercial services and products from a variety of sources, including brokers, individual accounts, small and medium sized enterprises, Corporations, Associations, Co-Operatives, Not-for-Profit organizations, and other lenders.
• Manages the Credit Union’s most complex member commercial real estate relationships, requiring superior analytical and inter-personal skills, superior levels of general business knowledge, and advanced mathematical aptitude.
• Delivers the Credit Union’s credit, savings and other products and services to both existing and new accounts by assessing their specific needs, having a thorough knowledge of our available products and services, and identifying appropriate solutions.
• Prepares and presents, as required, supporting detailed loan summary or product delivery recommendations which include all appropriate supporting documentation, underwriting review, risk analysis, and clear, concise recommendations.
• Applies sound and supportable judgment within the parameters of accepted commercial business banking practices and procedures, as well as the Credit Union’s By-Laws and Policies.
• Ensures that senior management is made aware of material changes to credit.
2. Provides a high level of service to accounts:
• Demonstrates resourcefulness, creativity, innovation, and a helpful attitude, while striving to meet the needs of both the accounts and the Credit Union.
• Ensures member needs are being met, by managing the account relationship, and communicating effectively and openly with the accounts to explain our product and service offerings and processes.
• Ensure member satisfaction by cross-selling products and services, or referring them to appropriate channels as required.
3. Contributes to the departments’ business development activities:
• Keeps abreast of local business opportunities, general economic indicators, and industry trends.
• Increases public awareness of the Credit Union’s products and services by planning, scheduling, and conducting activities that promote the Credit Union’s products and services.
• Devotes time and energy to cultivating relationships with entrepreneurs, bankers, associations, accountants, lawyers, and real estate professionals, prospective accounts and depositors, and other key individuals in a position to influence the decision making of business/commercial clientele, with the scope and conduct of such activities undertaken, at all times, with a high degree of professionalism, in keeping with the provisions of the Credit Union’s Code of Conduct.
• Maintains a significant profile and develops business relationships within the local business community on behalf of the Credit Union through participation in organizations such as the Board of Trade, Chamber of Commerce, Local Real Estate Board, industry associations, and trade shows/exhibits.
• Keeps abreast of business sectors with significant growth potential and potential for decline, so as to proactively manage the growth and maintenance of the commercial services portfolio.
4. Ensures safety of account’s deposits:
• Recommends an adequate/appropriate rate of return on credit products.
• Ensures a close monitoring of accounts in his/her assigned portfolio, applying sound and appropriate management/administration techniques.
• Identifies potential problems, recommends corrective measures, and implements approved courses of action.
• Demonstrates resourcefulness and creativity in developing action and realization plans that, whenever possible, satisfy both the Credit Union and the account.
• Keeps abreast of business sectors showing signs of potential negative trends, and recommends and carries out appropriate commercial banking portfolio management plans.
5. Supports internal staff as required:
• Shares his/her expertise with new employees or staff from other departments, as required.
• Assists in duties related to the operations of the department, or on request. • Acts as a mentor, in a team structure, to all staff in their efforts to meet account
service requirements and develop in their individual roles.
• Supports colleagues in departmental duties, as required.
Expectations / Outcomes
• The expectations of the Credit Union commercial clients will be met and exceeded.
• The value of the Credit Union commercial portfolio will continue to increase (through the opening of new accounts and servicing of existing ones) and the quality of the credit decisions will be high with a reducing delinquency rate.
• Corporate goals for Commercial growth will be met and exceeded.
• Current and prospective commercial real estate members.
• Management and Senior Management.
• Members of the local Business Community.
• Members of partner organizations.
• Professionals in the community (i.e. brokers, lawyers, accountants, etc.). • Professionals engaged in a consulting capacity by, or on behalf of, the Credit Union.
Education / Certifications / Experience
• Post-Secondary education in a related discipline, ideally at the University level, typically in Business Administration, Economics, Real Estate Finance, Real Estate Appraisal, Applied Geography, Accounting, or Finance. (or equivalent combination of education and experience).
• Minimum 3-5 years’ experience in a financial institution, ideally in a commercial real estate account management role, with direct borrower/member contact, or with related experience.
• Demonstrated experience in recommending and/or approving commercial real estate credit is essential.
Knowledge / Skills
• Knowledge of principals, practices, and techniques related to banking generally and commercial real estate credit assessment specifically.
• Knowledge of general market conditions, industry trends, and best practices in the financial services industry, in regards to commercial credit and savings product and service delivery.
• Knowledge of management principles, practices, and techniques.
• Knowledge of legal requirements as they relate to the delivery of commercial credit and banking products and services.
• Knowledge of general macro-economic trends affecting our economy, and the market within which we operate specifically.
• Ability to thoroughly analyze situations and problems and make informed and supportable decisions in a timely manner.
• Ability to communicate effectively, with management, employees, and accounts, both written and orally.
• Ability to make effective presentations.
• Demonstrate ability to exercise tact, initiative, discretion, and judgment.
• Ability to work under pressure, on numerous tasks simultaneously, to meet deadlines.
• Ability to work effectively with others, demonstrating dependability, adaptability, and a willingness to take direction as required.
• Demonstrated willingness to pursue continuous learning opportunities and skill development.
• Ability to work either independently, or in a team environment.