AVP, Specialized Lending Underwriting and Account Management

Reporting to the Vice President & Head of Specialized Lending, Manulife Bank, the AVP, Specialized Underwriting and Account Management is responsible for leading the Bank’s the underwriting and account management of the Bank’s specialized lending portfolio. The incumbent is responsible for leading and inspiring a team of lending and account management professionals that underwrite new credit in the portfolio, complete annual reviews and other portfolio surveillance, fulfill new credit and subsequent draws and manage special loans and watchlist accounts. In fulfilling this role the incumbent is responsible for the overall management of the department, credit decisions within delegated lending authorities, workflows and underlying processes/technology, and, a staff of banking professionals.

Position Responsibilities:

Underwriting

• Lead a team of highly capable underwriting professionals; act as a point for file escalations and ensure that proposed transactions meet client requirements and/or strengthen the company’s position as needed. Provide field guidance on financial analysis and deal structure with a view to ensuring a smooth authorization process.

• Review, analyze a structure individual transactions where required applying complex accounting, tax and corporate rules and concepts to ensure transactions meet client needs and the Bank’s credit analysis identifies, assesses and mitigates the underlying inherent risks within business owner, high net worth and other complex applications

• Exercise discretionary lending limits as delegated to approve and decision credit applications in line with the Bank’s risk appetite.

• Communicate credit approvals to sales, advisors and clients and ensure that any conditions of approval and other terms and conditions are clearly understood and accepted

Account Management

• Oversee the effective and on-going monitoring of files within the portfolio, specifically the completion of annual reviews ensuring appropriate and timely information is obtained such that the Bank can appropriately monitor the on-going health of the specialized lending portfolio and appropriately serve our customers

• Monitor collateral surplus/deficits and ensure timely action is taken to allow client remediation and/or protect the Bank’s security interest

• Ensure that at-risk accounts are identified for the ‘Watchlist’ and receive appropriate enhanced monitoring, and where necessary, intervention occurs in a timely matter to protect the Bank’s interests in work-out and insolvency situations

• Assess and apply IFRS 9 accounting principles and other relevant precedents to recommend and/or remove provisions for credit losses, where appropriate on at-risk accounts

Account Support

• Lead a team of professionals that ensure commitment letters are consistent with the terms of approval and liaise with account management, sales and clients to complete all pre-funding conditions

• Oversee processes at final fulfillment validating that all terms and conditions have been met, security interests registered and funding complete

• Validate that all material information is reflected in the books of record and client files as appropriate

Strategy & Operations

• Promote a strong culture consistent with Manulife’s values that encourages and rewards desired client outcomes, profitability and quality of decision making.

• Provide expert advice, and guidance on all aspects of specialized lending with particular emphasis on the interpretation and analysis of high net worth and business owner financial statement/condition, insurance, tax and estate planning strategies and their impact on credit evaluations.

• Collaborate with product management, sales, risk, operations, technology and others on all new specialized lending credit product development initiatives. Ensure that all underwriting and account management considerations are factored into the client experience and product design and aligned with the overall objectives of the initiative

• Actively contribute to the development and revision of specialized credit policies and standards, ensure they are consistent with the Bank’s strategy, risk appetite and intent of the underlying products, underwriting and account management objectives.

• Design, implement and maintain the processes and technology necessary to manage the underwriting and account management workflow

• Maintain relationships with various vendors, and government stakeholders (as required) such as OSFI and CBA

Leadership & Building a High Performing Team

• Inspire, coach, guide and actively engage employees; motivate and encourage staff

• Manage performance, providing formal and informal feedback and coaching. Establish accountabilities and performance standards

• Build talent capability and engage employees through focused career discussions as well as promoting a culture of continuous professional development

• Role model critical behaviors to enhance the customer experience

• Demonstrate inclusive behaviors and provide opportunities to collaborate across teams

Required Qualifications:

• 10 - 15 years relevant banking and lending experience

• University degree in business, finance, accounting or economics, professional accounting designation highly preferred

• Strong knowledge of Canadian accounting & tax concepts and requirements related to entrepreneurial and/or high net worth borrowers

• Excellent written and oral communication skills

• Expert knowledge of lending policies and procedures

• Knowledge of high net worth investment, insurance and tax planning strategies structures

• Highly developed stakeholder relationship management and negotiating skills

• Sound knowledge of regulatory requirements affecting lending, underwriting and account management

When you join our team:

• We’ll empower you to learn and grow the career you want.

• We’ll recognize and support you in a flexible environment where well-being and inclusion are more than just words.

• As part of our global team, we’ll support you in shaping the future you want to see.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact recruitment@manulife.com.

Salary range is expected to be between

If you are applying for this role outside of the primary location, please contact recruitment@manulife.com for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact recruitment@manulife.com for more information about U.S.-specific paid time off provisions.