Director, Real Estate Portfolio Servicing

Come Work with Us!

At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Director, Real Estate Portfolio Servicing

What is the opportunity?

You will provide direct analysis, leadership and coaching for the ongoing initiatives of the Real Estate Portfolio Servicing Team and various portfolio audit control procedures. You will be responsible for the monitoring of various databases, market research, detailed loan summary reconciliations and wire transfers, loan undertakings management, third party investor reporting, commercial mortgage renewals and refinances, and a broad range of loan modification requests. The role requires extensive knowledge of commercial real estate underwriting and lending practices and related experience with commercial mortgage-backed securities (CMBS). You will be collaborating with various internal and external stakeholders and working closely with borrowers, commercial account managers, master servicers, rating agencies, third party investors, syndication co-lenders, solicitors, commercial mortgage originators and underwriters, the loan closing group, and third-party consultants. Your role will include higher order supervisory responsibilities through the completion of detailed business transaction reviews to ensure the team is meeting the high standards required for the servicing of specialized real estate portfolios. The role requires some travel completing commercial property inspections and follow up reporting across Canada.

What will you do?

• Collaborate with Borrowers, Commercial Account Managers, Master Servicers, rating agencies and various third-party commercial real estate portfolio stakeholders.
• Complete Operating Statement Analysis Reports (“OSARS”) on commercial real estate required for the Bank’s securitized pools of commercial mortgages.
• Underwrite and negotiate pricing for the renewal and refinancing of CMBS commercial mortgages that have reached term maturity.
• Respond to general inquiries from borrowers, commercial account managers, co-lenders, solicitors, and third-party service providers.
• Prepare and verify monthly loan remittance reports and coordinate the distribution and wire transfer of mortgage P&I payments to the Master Servicers, co-lenders, and third-party investors.
• Perform, complete, and submit property inspection reports to the Master Servicer by the due dates specified in the Servicing Agreements. Direct any matters of concern to Senior Management. Request and follow up on correction strategies for items of significant property deferred maintenance.
• Maintain multiple tracking databases and be responsible for data integrity for audit control purposes.
• Track, monitor and follow up on borrower loan undertakings for securitized and third-party investor mortgages.
• Partake a supervisory role in the audit control process and audit engagements relating to the Bank’s commercial real estate servicing portfolios.
• Research and prepare formal and comprehensive business cases in support of Borrower special requests to modify loan documents (i.e., subordinate debt financing, loan assumptions, building expansions, expropriations, partial discharges of security, changes in ownership structures, amalgamations, holdback, and reserve releases, etc.).
• Conduct Business Transaction Reviews (BTR) as part of a safeguard process to ensure commercial real estate portfolio quality.

What do you need to succeed?

Must have:

• A focus on detail, excellent time management skills and ability to multi-task.
• Team player and willingness to do some travel across Canada.
• Ability to learn quickly in a fast-paced work environment.
• A minimum of three (3) years’ underwriting and commercial mortgage lending work experience involving a broad range of commercial real estate and property types.
• Extensive understanding of financial statements and commercial real estate cash flow analysis.
• Highly proficient in Microsoft applications (Excel, Word, Power Point).
• Well organized, proactive, results-oriented and client focused.
• A university honours degree (4 years) specializing in either business, commerce, finance, real estate, economics, accounting, or equivalent, or an AACI designation with a university degree in any major.
• Exceptional communication, collaboration and report writing skills.

Nice to have:

• Knowledge of the Bank’s operating systems: OLMS, Synergy, DDA, CMS, CART, RFT wire transfer, Newton, and PeopleSoft (Oracle).
• Group Risk Management experience adjudicating commercial mortgages.
• MBA, CFA, AACI designation or equivalent.
• Extensive work experience in Commercial Mortgage-Backed Securities (CMBS) and the servicing of securitized commercial mortgage portfolios.
• Previous supervisory or team leadership experience.

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.
• Comprehensive compensation package.
• Opportunities to do challenging work and enhance your knowledge and skills in a professional environment.

Job Summary

Address:

TORONTO, Ontario, Canada

City:

CAN-ON-TORONTO

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

Personal and Commercial Banking

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-04-13

Application Deadline:

2023-04-27

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

Join our Talent Community

Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.

Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.