Credit Officer

September 6 2022
Industries Bank, Insurance, Financial services
Categories Accounting, Finance, Credit, Collections, Credit, Risk
Ottawa, ON

Scope

The Credit Officer will provide a full range of credit underwriting services from the retail branches of the organization. The candidate will possess a balance of excellent analytical skills while using a member centric approach to assess credit applications efficiently and accurately. Working closely with staff, the credit officer will maintain up-to-date knowledge of company policies and products as well as provide underwriting and credit expertise for members and staff.

Major Responsibilities

  • Provides the highest level of internal and external service to staff and members
  • Adjudicates all unsecured and secured credit applications generated from Retail Branches
  • Determines maximum credit worthiness of the member based on established criteria. Approves applications within credit limits and recommends outcomes outside of lending authority
  • Provides alternatives to applications declined as a restructure or alternate product
  • Performs all required credit underwriting process for more complex credit demands
  • Performs helpdesk duties. Fields calls from branches, provides guidance and assistance to member facing staff with regard to lending solutions, loan structuring and the banking system or lending solutions to fill the members needs
  • Produces and maintains high quality documentation on all loans
  • Implements a risk-based lending strategy when evaluating credit applications, including risk-based pricing principles when available
  • Provides a turn around time as stated in service standard. Ensures attainment of service standards for processing all credit applications
  • Recognizes upsell and alternate credit proposals and communicate with branch sales staff to maximize opportunities
  • Works effectively in a team setting to accomplish goals and complete tasks
  • Any exceptions to policy is noted and documented with approval going to the correct authority
  • Other duties as assigned

Expectations / Outcomes

  • The Credit Officer will be skilled at finding win/win lending solutions for the member and be able to recognize opportunities to increase the overall scope of the member’s relationship with Alterna
  • Alterna’s members will have the appropriate products that suit their need
  • Alterna’s members will view the organization as their primary institution for their financial needs
  • Any exception to policy is noted and documented with approval going to the correct authority
  • Minimize credit risk exposure to the organization
  • Adherence to organization’s policies, procedures and processes
  • Any exceptions to policy is noted and documented with approval going to the correct authority


Qualifications

Educations / Certifications / Experience

  • Post-secondary education in a business related filed and/or equivalent experience
  • 5 years of credit underwriting experience
  • 7 years of experience in a financial institution in progressive roles that involved credit and completion of more complex credit applications (i.e. Real Estate Secured Lending, etc.) .

Knowledge / Skills

  • Ability to make independent decisions
  • Excellent knowledge of credit in general and of Real Estate Secured credit underwriting practices
  • Knowledge of risk analysis approach to credit underwriting
  • Ability to interpret and evaluate credit reports
  • Solid understanding of lending ratios
  • Ability to make decisions under pressure while adhering to underwriting guidelines
  • Excellent analytical and computer skills
  • Strong member service orientation and negotiation/selling skills

About Alterna Savings

Alterna Savings and Credit Union Limited (Alterna) has been the good in banking™ for over 110 years and, based on assets under management, is one of Canada's Top 10 credit unions (CCUA, 2021). Alterna is made up of Alterna Savings and Credit Union Limited and its wholly owned subsidiary, Alterna Bank. Together, we have $10 billion in assets under management.

As the first full-service, member-owned co-operative financial institution outside Quebec, Alterna Savings shares its expertise with more than 185,000 members through a network of over 30 branches across Ontario, that includes partner Peterborough Community Savings; as well as call centre and digital channels. Members and customers also benefit from an industry-leading online brokerage, investment management services, and have access to over 43,000 surcharge-free ATMs in North America with THE EXCHANGE Network in Canada and the All point Network in the US.

Working at Alterna

Alterna offers a fast-paced, impactful work experience in an organization that cares about doing good. For over 100 years, Alterna has been creating financial services that transform lives for the better, all while giving back to our community.

We are incredibly proud of our corporate culture, where everyone works together towards a common goal, the financial wellbeing of our members and customers. This commitment has earned us several prestigious employer awards, including the National Capital Region's Top Employers award for six years running. * Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills, and competencies outlined above.

* Alterna is compliant with the Ontarians with Disabilities Act. If you have a disability, please contact the recruiter to let us know how we can accommodate you.

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