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Retail Markets provides a full range of financial products and services to almost 11 million personal, small business and wealth clients, as well as investment management services globally to retail and institutional clients. With approximately 28,000 employees, CIBC Retail Markets has a broad distribution network serving clients through more than 1,000 branches, as well as CIBC Wood Gundy offices and President’s Choice Financial in-store pavilions. Clients also have 24/7 access to telephone banking, online banking and online brokerage, as well as to Canada’s second largest ABM network.
CMLI acts as CIBC's manufacturer of mortgage, lending and Insurance products. Using a multi-brand/multi-channel strategy, CMLI is responsible for the development, distribution, servicing and profitability of various mortgage brands & distribution channels (CIBC Residential Mortgages, PCF Mortgages, Home Loans Canada and Mortgage Center Canada) as well as CIBC Lending (home equity and personal loans, lines of credit and unsecured loans) as applicable per channel and Insurance products (Creditor Life and Disability, Accident and Injury).
To review, adjudicate and process real estate secured and unsecured applications received from lending partners in various channels. To deliver a high level of customer service, achieving volume targets and quality credit decisions in an effective and timely manner with adherence to CML policy and delegated lending limits.
§ Negotiate, approve, recommend, restructure or recommend decline of credit lending products within established CML guidelines and delegated authority lending limits on a daily basis. Ensuring at all times, that the emphasis is on deal-making.
§ Submit applications to Insurance providers for review and decision.
§ Authorize the advance of funds, set interest rates and level payment amounts on an exception basis.
§ Monitor submissions from all applicable channels to ensure the maintenance of good lending practices; exercising due diligence to ensure risk is within acceptable guidelines.
§ Ensure the accurate, timely collection of required documentation to support the approval decision.
§ Accurately prepare submission of applications requiring approval for the next level of authority.
§ Exercising due diligence through data integrity and proper supporting documentation to ensure risk is within acceptable guidelines.
§ Deliver a high level of customer satisfaction to internal and external business partners.
§ Regular contact with lending partners to provide information, explanation and assistance in the approval process.
§ Occasional contact with customers/builders to provide information or clarification regarding bank policies.
§ Occasional contact with solicitors and appraisers regarding transaction details.
§ Occasional contact with other financial institutions to share information relative to the mortgage industry.
§ Contact with Insurance providers to share information and act as liaison between insurer and our business partners.
· As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
· Level of authority determined via DLA designation including lending limits and exception criteria
· Managing work volumes to meet short time lines with a high level of quality where errors in judgment could result in financial losses
· Manage credit submissions via multiple technology platforms
· Manage high volume of documentation within designated Service Level Agreement
· Evaluating real estate and associated risks in a volatile market
· Negotiating better loan quality (i.e., where business partners have committed to credit products of poor quality) to ensure CML lending practices are met
· Handling difficult interactions and unpopular decisions while balancing business partner satisfaction with standards established by CML
· Negotiating terms and conditions to ensure that the correct rationale is documented for an exception to CML guidelines.
· Obtaining accurate and sufficient information to make valid lending decisions where information is withheld or falsified
· Building and developing relationships with business partners.
KNOWLEDGE AND SKILLS
§ Detailed working knowledge of CML credit products, policies and procedures.
§ Excellent working knowledge of lending industry in general.
§ Detailed working knowledge of principles of credit analysis and risk management pertaining to credit adjudication, appraisal review and analysis.
§ Working knowledge of financial analysis sufficient to understand financial statements and assess financial viability.
§ Working knowledge of mainframe applications and pc applications for the appropriate channel.
§ Detailed working knowledge of legislation regarding risk-related credit/lending law.
§ Developed influential skills sufficient to negotiate effectively with business partners and to influence others of the preferred options and alternatives.
§ Strong interactive skills sufficient to communicate detailed factual explanations
§ Strong written and verbal communication skills.
§ Proven ability to adjudicate complex transactions i.e., progress draws and multiple rental units.
§ Ability to work efficiently with numerous interruptions.
§ Adaptable to change.
· Normal office environment
· Challenging environment due to peak volumes, seasonal influences and/or deadlines
· Challenging relationships with lending partners with differing areas of focus and conflicting priorities.
· May be required to work outside of regularly scheduled shift to meet deadlines.
· Flexibility in work hours including a scheduled Saturday on a rotational basis is required of all team members in order to accommodate the needs of business partners across Canada.
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