Job Description
Senior Loan Officer Location Hybrid work in Toronto, ON : 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 Ontario municipalities and certain other eligible borrower sectors. Since inception, the Loan Program has supported over $19 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, and municipally owned local distribution and electricity generation providers. 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:
What You Will Do: - Manage the loan application processes for municipal and non-municipal borrowers from loan application to execution of documents, funding, and throughout the loan monitoring phase.
- Work collaboratively with multiple stakeholder groups, such as legal, credit, relationship managers, IT, treasury and finance to ensure consistent and high quality management of loan advance requirements.
- Ensure all required documentation is in place and all requirements are met prior to advancing funds., including for financing of construction projects
- Work with the treasury and finance departments to manage reserve account requirements for borrowers.
- Ensure various loan facilities (e.g. construction loans, fixed-rate long-term interest loans, etc.) are set up correctly in the loan management system.
- Assist the Manager, Loan Administration, to oversee the work of Loan Officers to ensure consistent and high quality deliverables and provide advice and support for professional development and training as appropriate.
- Provide excellent customer service, engage in direct communications with clients regarding loan applications, financing options/needs, and to resolve outstanding concerns.
- Work with external auditors on a yearly basis on items pertaining to loan operations, including loan applications and agreements, short and long-term financing and systems controls.
- Proactively recommend and implement changes to the loans process and workflow system for review by the Manager, Loan Administration, as appropriate.
- In collaboration with other partners, define business requirements for systems development as they pertain to loans, banking and data storage and retrieval and work with IT to implement such changes.
- 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.
- Ensure all documentation required to execute municipal and non-municipal loans are complete and accurate and can be recommended for approval to the Manager.
- In collaboration with other members of the team, assist with producing reports on a scheduled and ad hoc basis relating to the loan portfolio.
- The Loan Administration team manages hundreds of transactions per year in excess of $500 million.
- Directly accountable for all loan program financial transactions, ensuring they are executed accurately and on-time for all outflows of principal and interest on both short and long-term loans.
- Act as backup for Manager, Loan Administration and other Loan Officers.
- Other tasks and responsibilities as required.
Who We're Looking For:
- Comprehensive knowledge of financial theories, principles and practices.
- A few years of experience providing financial loan administration and client service in the public or private sector environment.
- Excellent written and verbal communication skills to provide information and advisory services to IO management and staff, stakeholders and municipal contacts.
- Exceptional organizational skills with the ability to work within tight deadlines.
- Ability to manage a high volume of documentation and complex processes.
- Advanced database/spreadsheet skills (Excel, Access, etc.) and ability to analyze, interpret, and synthesize financial data to prepare reports.
- Demonstrated strong understanding of loan managements systems and controls
- Familiarity with Municipal Act and/or other legislation applicable to the different borrower sectors (e.g. municipalities, affordable housing providers, long-term care providers) is an asset.
What's in it for You:
- Commitment to creating a diverse, equitable and inclusive culture that promotes a sense of belonging and represents and reflects the needs of the communities we serve.
- A flexible, hybrid work approach that allows colleagues to find balance between their professional and personal lives and making the most of the benefits of working remotely and purpose-driven in-person collaboration opportunities.
- A defined contribution pension plan, where IO contributes the equivalent of 5% of a full-time employee's annual salary, with an option for IO to match an additional 5% contribution made by the employee. IO also offers a Group Retirement Savings Plan and Group Tax Free Savings Account, designed to help IO colleagues plan and save for their future.
- A comprehensive package that covers health, dental, vision, out-of-country care, paramedical services, and more.
- A pregnancy and parental leave program that offers expecting, eligible employees a top-up to 95% of their annual base salary for 31 weeks, and our parental leave program offers eligible employees a top-up to 95% of their annual base salary for 15 weeks.
- Access to our $1000 Healthcare Spending Account to top up expenses not covered in the benefits program and a Lifestyle Account that expands the eligibility of health and wellness options and can include coverage for fitness equipment, nutrition counselling or financial planning.
- Support for professional development opportunities for all colleagues through a broad range of learning programs that include in-person and online training, leadership development, and support for colleagues' well-being. IO will also cover the costs associated with up to two membership and licence fees per year for eligible colleagues if directly related to the employee's role.
- Access to a suite of virtual healthcare options to support non-urgent medical needs
This posting will close on June 17th, 2024. The salary range for this position is $71,300 to $107,000 with a corresponding job level of P3 Exact compensation may vary based on skills, knowledge and experience Interviews will be conducted on a rolling basis until the position is filled. At Infrastructure Ontario, we strive to create a culture that encourages a diverse equitable and inclusive environment that fosters belonging. We believe that experience comes in many forms and through learning from each others' differences and perspectives gives us strength. We are committed to enhancing our culture and encourage applications from all walks of life. Let us know if you require any accommodations for the selection process, by contacting the Talent Acquisition Team. Candidates who are members of Indigenous, Black, racialized and 2SLGBTQ+ communities, persons with disabilities, and other equity deserving groups are encouraged to apply, and their lived experience will be taken into consideration as applicable to the posted position. By submitting your application you are granting Infrastructure Ontario permission to process your personal data during the recruitment process and for keeping records of the process. Infrastructure Ontario may share your personal data internally to appropriate persons involved in the recruitment process and to third parties where there is an administrative or lawful basis for doing so. Provided that Infrastructure Ontario does not have any lawful reason to continue processing your personal data, you may make a formal request to rectify, erase or restrict (the processing of) your personal data.
Job Tags
Full time, Temporary work, Fixed term contract, Long term contract, Local area, Remote work, Flexible hours,