Be a part of something different
We may offer the same products and services as a big bank, but we couldn’t be more different. We’re rooted in purpose and we’re on a mission to improve lives and strengthen communities. We support nearly 20,000 members and businesses digitally, over the telephone, and in-person across a network of six branches across Niagara and Haldimand.
At PenFinancial, our people are our greatest asset and our values speak for themselves: accountability, inclusivity, integrity, and respect. More than a poster on the wall, our values guide everything we do. They’re values we live every single day – where everyone has a voice and where we listen. Just ask someone who works here to see what they think, and check out our latest annual report to see what we’ve been up to.
We provide all of our employees with a generous benefits package that includes a Living Wage salary, defined contribution pension plan and performance-based success sharing. Combine that with our commitment to contributing to the wellbeing of our employees through competitive benefits programs, wellness days and allowances for education, and it’s no surprise that our employee engagement scores are consistently so strong.
Our commitment to community
We live our brand from the inside out, and our Truly Local Commitment starts with our employees. We support an inclusive, diverse, and caring internal culture. We encourage our employees to give back to the causes that are meaningful to them and their families by providing opportunities to volunteer and represent our truly local credit union through our Truly Local Ambassador program. And, we also commit to investing a portion of our profits directly back into our local communities.
We are a proud Certified B Corporation committed to doing business for good, and we choose 100% renewable energy with Bullfrog Power to support environmental sustainability.
Job Description
Lead and coach the commercial sales and support team to ensure effective delivery of all commercial products in line with PenFinancial’s budgeted sales objectives and values-based banking philosophy. Responsible for all aspects of commercial delivery and credit including sales, policy, credit management, reporting, and efforts to continuously improve and enhance PenFinancial’s commercial offering. Development and maintenance of a profitable, growing and diversified portfolio of commercial loans, deposits, and auxiliary products.
Differentiating Accountabilities:
Leadership & Team Development
- Proactively coach to support the personal growth and development of direct reports and implementation of related training to support the achievement of goals.
- Develop a highly engaged, diverse and capable team to execute departmental plans/strategies and build strong relationships with others/members.
- Ensure the commercial department is developing and maintaining strong business relationships with members that are assigned to the portfolio, including understanding their business needs, aspirations, operations and challenges.
- Implement training, performance management, and succession strategies aligned with strategic goals.
- Monitor broader business environment and economy within our service area and making adjustments for PenFinancial’s commercial strategy and product offering as appropriate.
Relationship Management
- Act as a senior relationship lead for key accounts and complex lending situations.
- Ensure a consistent, consultative approach to identifying member needs and delivering tailored financial solutions.
- Represent the credit union in the business community, building strategic partnerships and enhancing visibility.
Operations Management
- Oversee the operational effectiveness and efficiency of all commercial services functions, including lending administration, documentation, and service delivery.
- Streamline and simplify processes and implement best practices.
- Collaborate with technology, operations, and risk management teams to develop operational enhancements and digital solutions.
Credit Adjudication & Risk Management
- Lead the adjudication of complex commercial credit applications within lending limits and in accordance with risk appetite and policy.
- Monitor portfolio performance and risk metrics, identifying trends and recommending appropriate actions.
- Ensure appropriate risk mitigation strategies are in place for new and existing commercial relationships.
- Maintain oversight of lending documentation, covenant compliance, and collateral monitoring practices.
- Provide regular risk reporting to the Board and senior management.
- Responsible for collections function and compliance with regulations, by-laws, policies and procedures. This includes proactive management of high risk, watch list, overdrawn and delinquent accounts.
Strategic Planning & Execution
- Develop and implement commercial growth strategies aligned with the credit union’s overall business plan.
- Use financial and market data to support pricing, product development, and member engagement recommendations and strategies.
- Lead cross-functional initiatives focused on innovation, operational excellence, and member service enhancements.
- Management of the department pipeline for both deposits and lending.
Qualifications
- University Degree preferably in a business-related program
- MBA, CFA, or Accounting Designation is preferred Strong knowledge of financial accounting and legal system required
- Excellent network of industry contacts including legal and accounting experts
- Minimum 10 years of progressive experience in commercial banking
- 8+ years of leadership experience in progressively more senior roles
- Displays exceptional interpersonal skills by demonstrating approachability, trustworthiness, flexibility and a strong work and service ethic
- Demonstrates attention to detail, responsiveness, and results orientation in both sales and service
- Uses technology to enhance productivity
- Committed to continuous personal improvement and continuous learning
- Strong background in operations management, credit risk, and commercial relationship banking.
- Deep knowledge of Canadian credit union regulations, commercial lending practices, and operational compliance.
Salary will be determined based on skills, experience, education and other qualifications relevant to this position
Additional Information
To learn more visit https://www.penfinancial.com/careers
While we welcome all applications, only those who are selected for an interview will be contacted.
Accessibility accommodations will be made for job candidates upon request.
