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 professional 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 solid 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 strong 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 abil

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