Director

Description:

Manulife Bank is looking for two Directors of Account Management to service Eastern and Western Canada.

Reporting to the AVP Specialized Lending Underwriting and Account Management, Manulife Bank, the Director of Account Management is responsible for the underwriting and account management of the Bank’s specialized lending portfolio within their assigned region. This portfolio is our most complex and one of our most significant growth opportunities. It is composed of insurance based lending (Immediate Financing Arrangements, Cash Surrender Value (CSV) lines of credit and similar), investment loans and lines of credit, and financial advisory business acquisition lending. As of December 31, 2022 the portfolio was approximately $2.7 billion. At current and planned asset levels the Bank’s underwriting and account management practices are transitioning to a more effective and scalable operating model. As such, this role will need to effectively partner with sales, risk management, and operations to drive a best in class advisory experience while managing the flow of new and existing business within their region. The incumbent will be required to apply considerable judgment and expertise to complex credit transactions and a very sophisticated client base.

More specifically the incumbent is responsible for leading a team of account managers and analysts in their region 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.

Responsibilities

Loan Underwriting

 Apply your deep lending expertise, financial acumen, experience, knowledge of tax and estate planning strategies and client relationship management capabilities to structure, review and analyze applications to ensure proposed loans meet client needs, are appropriate, and consistent with the company’s policies, standards and regulatory requirements. Ensure underwriting outcomes demonstrate an appropriate risk/reward trade-off.
 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
 Lead a team of highly capable underwriting professionals; act as a point for file escalations and suggest changes to the structuring of transactions to meet client requirements and/or strengthen the company’s position as needed. Provide field guidance on deal structure with a view to ensuring a smooth authorization process.

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 & business 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

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 and business lending.
 Actively contribute to the development and revision of specialized and business lending 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.
 Implement and maintain the processes necessary to manage the underwriting and account management workflow

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

Job Requirements

 7+ years relevant underwriting and lending experience
 Strong understanding of the insurance industry is an asset
 Strong knowledge of tax and estate planning strategies
 Expert knowledge of entrepreneurial and/or high net worth lending
 Excellent written and oral communication skills
 Expert knowledge of lending policies and procedures
 In depth understanding of insurance- not just the various types of insurance and how they operate but the strategies advisors use in implementing them
 Knowledge of private business financial statements with an emphasis on holding companies
 Highly developed client & stakeholder relationship management and negotiating skills