24 days old

Director Lending Services

Cox Automotive
Mississauga, ON L5B
*Primary Location: *2700 Matheson Blvd E, Mississauga, ON, CAN
*Division: *Cox Automotive
*Job Level: *Director/Senior Director
*Travel: *No
*Schedule: *Full-time
*Shift: *Day Job
*Requisition Number: *213036
Lending Services Director role is to protect corporate assets through a quality, detailed and thorough analysis of a submitted loan package. Lending provides business customers with a streamlined, expedient, and custom-tailored loan proposal. Director Lending services is a member of a diverse organization, working closely with sales professionals, Performance Managers, C-Suite executives, legal professionals, and risk professionals. The Director Lending Services reviews and decisions complex commercial loan packages for new and existing dealers through extensive analysis of financial and performance data. This independent analysis function is designed to provide an in-depth evaluation of the strengths and weaknesses in commercial loan requests that will assist in determining if the overall risk and pricing is acceptable in delivering our financial results. This position leads the team in the directional performance of Lending program development, including creating and compliance to lending policies and procedures, portfolio growth, portfolio quality, portfolio profitability, tracking and reporting. This position is responsible for the oversight of lending process from the point of application to account activation, maintenance of the accounts both active and inactive, maintaining integrated score models, and the process to ensure perfection of the assets including those with the most complex and highest exposure. The individual should possess excellent work ethic with a high energy level, motivation, enthusiasm and ambition. Proactive communication and ability to execute cross functionally while maintaining the teamwork environment in a positive, proactive fashion.





ESSENTIAL RESPONSIBILITIES:


*Manage and Lead Underwriting Team Members*




* Lead Projects to enhance products and services, challenge existing processes, and offer value enhancing improvements.

* Train and manage team of Underwriters and Lending Service Representatives (or other stakeholders as required)



*Department Reporting*




* Provide Lending Department Key Performance Metrics on a regular basis, or as requested






*Decision Credit Reviews*




* Issue definitive credit decisions on commercial loans typically ranging between $1,000,000 - $50,000,000 while ensuring alignment with organizational goals and established credit policies.



*Financial Review - *




* Review financial statements including balance sheet, income statement, and statement of cash flow.

* Understanding key financial ratios and interpret metrics including margin, liquidity, leverage, profitability, efficiency, and debt coverage ratio.

* Perform industry analysis and understand borrowers financial ratios relative to peers

* Analyze pro forma and cash budgets.








* Calculated Target yield and recommend appropriate pricing based on credit risk profile.

* Evaluate borrowers financial strengths and weaknesses as it relates to the loan request.



*Business and Industry Review - *




* Evaluate and analyze borrower performance based on internal measurements and reports to include inventory management, payment history, audit reconciliation, and covenants.

* Conduct a due diligence audit and highlight findings on defaulted accounts.

* Evaluate and interpret principals personal liquidity, leverage, debt-to-income ratio, and asset verification including relationship to borrowers financials.

* Distinguish information from personal and commercial credit bureau and describe material factors.

* Analyze operating business cycles and markets within the automotive industry.

* Identify industry, market, and management risks that can affect a borrower.

* Analyze complex organizational structures.



*Collateral Security Review - *




*


* Analyze UCC filings to determine priority and nature of each filing and effect on loan package.




* Ensure accuracy and compliance regarding Canadian and U.S. loan documentation.

* Ensure completion of all credit requests within required corporate time target.

* Identify and communicate potential implications from credit decisions to affected internal parties.

* Accurately communicate in writing directly to borrower and borrowers representatives including, but not limited to, corporate and personal CPAs and attorneys.

* Communicate directly to internal all Internal Stakeholders to resolve lending inquiries.

* Ability to lead commercial loan package presentation to senior executives in rendering a credit decision.


Qualifications:

* Undergraduate degree in Accounting, Finance, Business required, MBA preferred.

* Working knowledge in various inventory finance software programs.

* Minimum 10 years underwriting experience in Automotive or Financial Services industry

* Capacity to autonomously issue comprehensive credit decisions while ensuring alignment with organizational goals and established credit policies.

* Working knowledge of GAAP accounting and financial concepts used in automotive and financial services industries.

* Provide detailed analysis of Audited, Compiled, Reviewed, and Dealer Prepared business financial statements and explain key effects on the loan package.

* Analyze and interpret personal and business tax returns including all schedules and ability to explain implications on the loan package.

* Analyze SEC filings including but not limited to 10-Q and 10-K.

* Analyze borrowers cash flow cycle and effects on debt requirements and repayment sources.

* Ability to review bank statements as it relates to borrower and principal.

* Critically evaluate and apprise borrowers business operations relative to peers and industry standards. .

* Understanding of varying personal and commercial credit tiers including prime and subprime.

* Working knowledge of commercial lending industrys legal framework and implications thereof.

* Familiarity with varying business structures including Sole Proprietorships, Partnerships, LLCs, S-Corps, and C-Corps.

* Interpret complex business structures and the related financial implications on the loan package.

* Ability to analyze buy here pay here, lease here pay here, and car rental business models.

* Clear, concise, and effective communication across all levels of the organization and with external stakeholders.

* Lead Projects to enhance products and services, challenge existing processes, and offer value enhancing improvements.

* Ability to train and manage team of Underwriters and Lending Service Representatives

* Ability to work independently and prioritize effectively.

* Other characteristics aiding in daily job function include adaptability, resourcefulness, and decisiveness.

* Proven Experience in creating vision, planning, implementation and execution

* Experience leading an organization in a highly dynamic and changing environment.

* Proficiency with Microsoft Office Suite including Word, Excel, PowerPoint, and Outlook.









*What we offer:*




* Full time employment with one of the global leaders in automotive remarketing realm

* 5 weeks paid vacation per year

* Generous Insurance plan paid by Cox Automotive Canada (medical, dental, life, disability).

* RRSP contribution plan

* Venngo Discount programs

* Fast paced, multicultural work environment

* Career pathing - opportunity for development and advancement within Cox Automotive family of companies

* Opportunity for involvement with local communities though company sponsored volunteering program

* *Cox Automotive Canada was named one of Greater Torontos Top Employers*







Who We Are
*About Cox Automotive*
Theres nothing ordinary about Cox Automotive. We are people of every background driven by our passion for mobility, innovation, client success and community outreach. We make buying, selling and owning (or simply using) cars easier for everyone. Touching more than 40,000 clients across five continents, we bring together the best brands and the best teams to propel the automotive industry forward. Some of those team members work for our iconic consumer brands like Autotrader and Kelley Blue Book, while others are creating the future of automotive at industry-facing brands like Dealer.com, Manheim and vAuto.

*About Cox *
We are the Cox family of businesses. Weve been making our mark since 1898 by building and evolving world-class businesses, staying true to our values, and encouraging top talent to always look for growth and impact while building a career with us. Our primary divisions - Cox Communications and Cox Automotive - are driving a new wave of innovation, powering smart cities with powerhouse broadband communications and pioneering greener, more progressive transportation alternatives for individuals and fleet operators. Were also expanding into new spaces like cleantech and healthcare to rev up our momentum toward building a better future for the next generation. Were looking for the talent today who will be our leaders tomorrow. Sound intriguing? Learn more about where we are today, where we hope youll be going with us, and the common purpose that unites us at coxenterprises.com.
Cox is an Equal Employment Opportunity employer - All qualified applicants/employees will receive consideration for employment without regard to that individuals age, race, color, religion or creed, national origin or ancestry, sex (including pregnancy), sexual orientation, gender, gender identity, physical or mental disability, veteran status, genetic information, ethnicity, citizenship, or any other characteristic protected by law.
Statement to ALL Third-Party Agencies and Similar Organizations: Cox accepts resumes only from agencies with which we formally engage their services. Please do not forward resumes to our applicant tracking system, Cox employees, Cox hiring manager, or send to any Cox facility. Cox is not responsible for any fees or charges associated with unsolicited resumes.

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Posted: 2021-04-12 Expires: 2021-06-04

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Director Lending Services

Cox Automotive
Mississauga, ON L5B

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