Manager, Closing Services

What is the opportunity?

Reporting into the Managing Director, Legal within Commercial Mortgage Finance, you will be responsible for the mitigation of operational risk related to the preparation of valid and enforceable borrower agreements and security documentation held in support of a commercial mortgage. You will liaise on behalf of the Bank for the Negotiation of terms and conditions and the preparation of commitment letters and ancillary documents (addendums) in connection with new commercial mortgages. In addition, you will instruct solicitors, on a national basis, in the preparation of securitization specific commercial mortgage legal documentation appropriate to the province of jurisdiction.

What will you do?

• Engage Title Insurance Company and co-ordinate Title Company due diligence on title policy issues

• Co-ordinate the closing process with all parties internal to the Bank as well as externally to ensure a consistent and efficient closing

• Co-ordinate with necessary parties to ensure all outstanding condition precedents in commitment and/or closing confirmation are satisfied prior to rate lock and closing

• Prepare Closing Confirmation on receipt of Risk Approval, process Good Faith Deposit and prepare all concerned parties to ensure timely rate lock and funding process

• Rate lock all loans and provide Rate Lock Confirmation to Borrower and internal stakeholders

• Co-ordinate with underwriter to ensure all reports are received (appraisal, environmental, and engineering) and ensure that all invoices relating to same have been processed

• Responsible for third party contact and co-ordination of property insurance consultant engagement, review and sign off of Borrower's Policy(s)

• Prepare tracking and closing summary reports for management

• Ensure that Service Delivery has required information for accurate loan set up

• Ensure co-ordinate with Service Delivery, solicitor and Title Company for timely and accurate funding process

• Diligently follow-up on any outstanding post-closing matters

• Accurate capture and maintenance of loan details for management and loan servicing

What do you need to succeed?

Must-have

• Knowledge of Real Estate Security

• Knowledge of Rating Agency/Securitization legal framework requirements

• Knowledge of Policies, Legal Framework and Collateral Security Documentation

• Advanced use of Application Software (Excel and Word)

Nice-to-have

• French language skills (reading, writing)

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• Ability to make a difference and lasting impact

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above