Job Description:Citizens Bank, a federally chartered bank that is wholly-owned by Vancity a BC-based financial cooperative, is relaunching as a 100% community and environmental impact-focused bank. We are committed to changing what progressive Canadians expect from a bank. This new focus will begin with the creation of a lending and capital advisory team in Toronto. Our strategy is to build strong relationships with key sector leading entities and provide them with advice and capital to support the community and environmental work they are doing. This could be direct, secured project financing; business lending; acquisition of impact loan portfolios; restructuring of project and business loan portfolios; and new deal capital structuring and financing. We will combine this with a dynamic internal capital management strategy including syndicating with other sector stakeholders and building with others new investment products that provide the sector with more efficient access to capital and clients with access to deposits and investments that support a clean environment and stronger community. This work will include identifying ways for government to accelerate the increased flow of capital to the sector.
To help lead the work in Toronto, we are looking for a finance and lending professional to serve as Director, Lending and Market Development. This role will focus on:
1) market development, identifying and building relationships with key actors requiring capital in the community and environmental sectors in the GTA,
2) capital deployment, leading the lending and investment activities and creating systems to sustain this business, and
3) team building, hiring and managing a team to effectively and efficiently grow this business.
We anticipate a team of 4-6 by year end. The Director and this team will be expected to identify and achieve the objectives and targets of the evolving bank business plan.
In this position you will be a key builder of the Toronto team and will work with this motivated and skilled group to refine business development strategies, and ensure the origination, underwriting, and management of lending and other capital strategies to meet the needs of the developing impact sector in the GTA and ensure the success of the Bank. You will help refine and ensure the application of appropriate credit and documentation policies and practices. To support the breadth and depth of responsibilities, you must have strong leadership skills, excellent communication skills, be proactive and “hands-on” and must be comfortable with working independently in a growing, dynamic business environment.
If interested, you should:
· want to be part of a new and growing organization with a unique, evolving mandate,
· be committed to working at a firm that is helping to change the way capital is distributed in Canada and for which the goals include supporting positive social change, and
· want to work hard, but have fun and enjoy working with a team you have helped build.
We seek an individual who can accelerate the development of the impact banking sector; help create a dynamic and flexible work culture focused on providing practical and sophisticated capital solutions; and establish strong, trusting relationships. As a member of the team, reporting to the Vice President, and working closely with colleagues, the key responsibilities for the role will include:
Identifying lending and capital deployment opportunities
· Develop with the VP and advisory committee a loan and capital deployment growth strategy
· Identify and build a pipeline of key relationships with key sector borrowers and intermediaries;
· Develop specific strategies to meet the capital needs of these key sector entities;
· Work collaboratively with partner and sector organizations to support the growth the impact finance market
· Inform and assist Treasury with off-balance sheet capital management strategy
Build deal origination and underwriting processes
· Perform and oversee team due diligence and provide a preliminary review of potential loans investments
· Work with team members to develop the lending and capital deployment structures, pricing, and deal terms
· Help design and support the credit approval process and as appropriate the credit committee in the review and approval of transactions
· Help design and manage all loan and capital deployment and security documentation
Build and manage a team:
· Identify key lending and capital deployment positions and collaborate on the creation of these jobs
· Identify talented individuals to support this work and fill these roles and hire them
· Manage the lending and capital deployment team
· Undergraduate degree in Liberal Arts, Business, Finance, Accounting, Economics, Engineering, with strong GPA; similar graduate degree desirable
· A minimum of 7 years of related experience including lending to impact businesses, nonprofits, co-operatives and other community organizations; and/or business lending and project financing experience, and business development experience.
· CFA, CA and/or CPA designation useful
· Evidence of personal engagement in, or desire for, social and environmental change
· Demonstrated verbal and written communication
· Financial Modelling expertise using Excel
· Ability to work independently and engage with team members that may be dispersed geographically
· Ability to build and manage a team
If you think this describes you and the role you are looking for, please apply here