Why FirstOntario?
Competitive compensation packages
Top-tier health and wellness benefits, including comprehensive benefits packages, a yearly health spending account and personal spending account
Enhanced mental health benefits through SunLife and TELUS Health
Exclusive banking benefits
Up to $1000 per year towards career development
Pension Plan
Flex-work environment
Company-wide Employee Volunteer program (Blue Wave Program)
Employee and Family Assistance Program
Job Overview
The Business Analyst, CMHC Commercial Services is responsible for supporting the origination, underwriting, funding and ongoing portfolio management of CMHC-insured commercial real estate financing, with a primary focus on multifamily housing. As a key member of the team, the incumbent conducts detailed financial and property analysis, coordinates due diligence, prepares high-quality credit submissions and supports the delivery of financing solutions that meet member needs while complying with CMHC requirements and FirstOntario policies and risk standards.
Role
Support CMHC-insured lending opportunities, including acquisition, refinance, construction, lease-up and term financing for multifamily and other eligible housing properties by: Assessing transaction eligibility under applicable CMHC programs, including MLI Select, and analyze affordability, accessibility, energy-efficiency and other program requirements, as applicable
Analyze borrower and guarantor financial information, property operating statements, rent rolls, leases, appraisals, market studies and other supporting documentation
Prepare detailed credit analysis and underwriting memoranda, including net operating income, debt service coverage, loan-to-value, debt yield, capitalization rate, vacancy, sensitivity and stabilization analysis
Review construction budgets, sources and uses, cost-to-complete information, quantity surveyor reports, draw requests and lease-up assumptions for construction and construction-to-term facilities
Prepare internal credit and CMHC application packages and coordinate the collection,



review and tracking of required due diligence and documentation
Support the administration and funding of approved facilities by monitoring conditions, documentation requirements, CMHC certificates and other closing deliverables

Liaise with internal partners and external stakeholders, including members, brokers, CMHC representatives, appraisers, environmental consultants, quantity surveyors, legal counsel and other professionals
Prepare and complete annual reviews and ongoing portfolio management of CMHC-insured loans, including covenant monitoring, property performance analysis and identification of emerging risks or warning trends
Diligently complete detailed commercial reviews through the breakdown and analysis of financial statements and recommendations to mitigate any new or changing risks
Concentrate on department goals and objectives, and portray a strong positive image to our members and the community
Over deliver on set targets and planned initiatives in the region by identifying new opportunities within the loan management and origination process
Perform other duties we may need you to do
Required Skills
Have a post-secondary diploma or degree in business or related field, or an equivalent combination of education and experience
Have a strong business acumen with minimum 3 years of Commercial lending experience and/or commercial credit adjudication experience
Knowledge of CMHC-insured financing programs and multifamily real estate underwriting is preferred
Direct experience with MLI Select is considered an asset
Have a strong understanding of income-producing real estate, including: rent roll analysis, property cash flow, net operating income, capitalization rates, vacancy,



debt service coverage, loan-to-value, debt yield and stabilization concepts
Have a solid understanding of real estate development and construction financing, including development budgets, construction monitoring, cost-to-complete analysis and construction-to-term structures
Experience interpreting financial statements, property operating statements, appraisals, environmental reports, market studies and quantity surveyor reports
Ability to prepare clear credit recommendations and work effectively with members, internal partners and external professionals
Highly detail-oriented and analytical, with a strong commitment to accurate financial analysis, documentation and data integrity
Strong written and verbal communication skills
Strong organizational and time-management skills, with the ability to manage multiple applications, priorities and deadlines in a process-driven environment
Proficiency with Microsoft Office, particularly Excel and Word
Experience with financial modelling and commercial lending systems is preferred
Commitment to responsive member service and professional relationship management
Awareness of enterprise risk factors and commitment to compliance with applicable legislation, regulations, CMHC requirements and FirstOntario policies and procedures
Be willing to work flexible hours to accommodate business need, networking and community involvement
This role is hybrid in Hamilton, ON.
This posting is for an existing vacancy.
Salary Range: $59,078 to $81,233 annually.
Compensation for this role reflects a combination of skills, experience, and internal equity. Those whose experience more closely aligns the role's requirements may be placed higher within the salary range. You will learn more about FirstOntario Credit Union's total rewards package during the interview process.
Our inclusive work environment welcomes diversity and supports accessibility. If you require accommodation at any time during the recruitment process, please let us know.

#J-18808-Ljbffr

📌 Business Analyst CMHC Commercial Services (Ontario)
🏢 Firstontario Credit Union
📍 Ontario