Location: London, ON
VersaBank is an inclusive, entrepreneurial, Schedule 1 Chartered Bank with over $3.1 billion in assets and growing. As Canada’s most innovative Bank, VersaBank operates as a branchless financial institution that obtains its deposits and provides the majority of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses. For more information on VersaBank, please visit our website at www.versabank.com
We are currently recruiting for a Full-Time Assistant Vice President, Credit to join our Credit Risk team in London, Ontario. Our head office is located in downtown London, ON, however VersaBank provides state-of-the-art technology to allow its employees to work remotely. This position is a hybrid position.
This position will be responsible for managing activities within the credit department for credit approval, renewal, amendments and related controls, procedures and reporting for our Commercial Real Estate team.
•Provide feedback to lenders on new lending opportunities as well as advice on all credit submissions
•Provide approval of acceptable lending requests and ensure that credit decisions are adequately documented in credit files
•Monitor action plans with respect to under performing loan assets related to the Commercial Banking business unit
•Responsible for the sign-off of all loan advances related to Commercial Banking business unit, includes that a credit has been approved, all security is in place and that the incumbent is satisfied that all conditions precedent and/or other conditions of funding have been met
•Assist CCO with the maintenance and amendments with the Credit Policies and the Credit Portfolio Management Procedures
•Undertake review of the Credit Policies and the Credit and Portfolio Management Procedures Manual
•Assist the CCO with the preparation and presentation of materials for Risk Oversight Committee meetings, primarily
-Monitor and update data warehouse reports to ensure they are capturing information correctly and develop any new necessary data warehouse reports to assist with the risk management of the Commercial Banking business unit
•Be the primary contact with the internal auditor, external auditors, and regulatory bodies on credit related matters associated with the Commercial Banking business unit
•Assist the CCO with the calculation and supporting rationale of the collective allowance on a quarterly basis
•Responsibility for departmental reporting and compliance requirements
•Multidimensional banking professional with a background in all aspects of the commercial credit function
•10+ years of work-related experience with a variety of credit products, primarily with Commercial Real Estate product offerings.
•Previous experience in credit underwriting with a broad spectrum of clients
•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
•Superior analytical and decision-making skills based on effective risk assessment/management
•Excellent verbal and written communication skills
•Demonstrated ability to work effectively with lenders
•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 benefits package, tuition refund program, stock options, pension supplement, fitness club membership and participation in an attractive incentive award program.
If working for a ‘non-traditional’ bank with an entrepreneurial flair and its head office in London appeals to you, we encourage you to apply. Please forward your resume and cover letter in confidence to [email protected]
We thank you for taking the time to submit an application. Please be advised that only those applicants selected for an interview will be contacted.