Full Time | Downtown Toronto Central Bay Street, ONTARIO | 5 months | Deadline: 30 Apr 2018
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Associate, Asset-Based Lending
Position Type: Regular
Position Status: Full Time
: Commercial/Business Banking
: Canada-Ontario-Toronto-199 Bay Street 4th Floor
: Apr 30, 2018, 11:59:00 PM
CIBC is a leading Canadian-based global financial institution. Through our three major businesses – Retail and Business Banking, Wealth Management and Capital Markets Banking – we provide a full range of financial products and services to 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. We invest in our businesses, our clients, our people and our communities to deliver consistent and sustainable earnings to our shareholders. To learn more about CIBC’s Lines of Business, please visit our website .
CIBC delivers access to career and development opportunities, safe and healthy workplaces, effective training, and positive work-life balance – so that employees are able to perform at their best, contribute to their communities and focus on cultivating deeper relationships with our clients.
Every year, CIBC is recognized for its business successes , community commitment and employee initiatives. We are proud of these successes and are committed to creating an inclusive workplace and an environment where all employees can excel.
To learn more about CIBC and the CIBC Group of Companies please visit CIBC.com .
Based in Toronto and operating under a national mandate, CIBC’s Asset-Based Lending group (“CIBC ABL”) provides clients with customized loan placements secured by accounts receivable, inventories and fixed assets. Operating individually or as the Lead Bank in a larger syndicate, CIBC ABL concludes fundings for a wide variety of Canadian industries where its asset-focused structures provide greater flexibility than typical credit models for collateral rich companies.
Target clients for Asset-Based Lending include large commercial and corporate entities, both privately-owned or publicly-traded, with senior debt requirements between $10 million and $500 million. These credit facilities may be complex in nature and are structured for a broad array of purposes, including financing working capital and fixed assets, growth capital, recapitalizations, restructurings, leveraged buy-outs, acquisitions and management buy-outs. Main target industries include manufacturing, distribution, retail, steel, forest products and agriculture.
What You’ll Be Doing
- In conjunction with other ABL team members and independently, prepare and assist in presentations of financing proposals to clients. Assist in negotiation of terms and conditions of proposals.
- Attend discussions with client management (executive, financial and operational) in order to assess financing needs.
- Assist in preparation of financing proposals (structuring terms and conditions including security, covenants and pricing) to properly reflect and compensate CIBC for assessed risk. Prepare draft recommendations on credit submissions and investment proposals to present to senior management. Assist with comprehensive due diligence on all transactions.
- Perform comprehensive analysis of due diligence results to validate asset values, determine lending eligibility of collateral, determine appropriate advance rates, and evaluate the efficacy of information systems and reporting capabilities.
- Perform comprehensive financial/non-financial analysis and risk assessment of credit proposals including preparing required financial models.
- Prepare credit memoranda and other credit correspondence in a well thought out, thorough and efficient manner and in accordance with policies and procedures.
- Present recommendations on transactions to senior management, credit and risk adjudication in a thorough, clear and concise manner.
- Assist with appropriate documentation for accepted credit proposals, negotiations and closings.
- Ensure reporting requirements are met, financial covenants tests are completed with required documentation submitted by borrowers and, based on appropriate review and compliance, approve loan advances;
- Complete reviews and present analysis on borrowers’ financial condition/account status as required;
- Appropriately address borrowers’ requests in a timely manner and ensure that any related credit applications are completed accurately and in a timely manner;
- Develop good relations with internal customers, external customers and general industry contacts to generate new referrals and business opportunities and to maintain a window on the market.
- Actively be involved with execution of an appropriate sell-down strategy for syndicated transactions. Duties performed on syndicated transactions include preparing information memorandums and other pertinent market information, approaching and negotiating with potential participants, assisting with legal documentation and closing.
What We’re Looking For
- Minimum 2 years of commercial or corporate credit experience, preferably in a transaction execution role. Previous experience in an asset-based lending role would be a definite asset.
- Undergraduate degree in finance, accounting or business administration (BCom/BBA).
- Advanced business degree or professional designation (MBA/CFA/CA/CGA/CMA) or equivalent work experience would be an asset.
- Proven financial analysis and credit skills with the ability to identify key transactions risks and potential mitigation.
- Good understanding of the Asset-Based Lending product, marketplace and loan structuring.
- Negotiation skills.
- Strong communication skills, both oral and written, including strong presentation skills.
- Strong organizational skills and ability to multi-task, particularly the ability to work on a number of different transactions simultaneously.
- Deadline oriented in order to meet both internal and external client-driven timelines.
- Self-motivated; able to complete tasks with minimal supervision.
- Good understanding of corporate finance and ability to evaluate and understand complex capital structures.
- Well-developed financial modeling skills.
- Strong computer literacy, including Microsoft Office.
What CIBC Can Offer You
- Flexible health benefits, stock purchase plan , competitive incentive pay and recognition programs
- Competitive salary and banking benefits
- Career growth, development and continuous learning opportunities
- Opportunity to be involved in CIBC events that help our communities
- Click to learn more about Rewards & Recognition , Learning & Development , and Employee Community Involvement
What You Need To Know
- Must be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work permit or study permit that allows the candidate to fulfill the requirements of the role
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