Be the champion of alternative farm financing in Ontario!
Today’s agriculture is a capital-intensive business. Whether for improving or expanding their operations, or just meeting the day-to-day cash flow requirements of their businesses, farmers need ready access to credit to keep their operations running smoothly.
At times, however, not all farmers are able to meet the strict criteria and hurdle rates required to qualify for financing with traditional agricultural lenders. And even if they do meet the requirements, their financing applications are occasionally declined on a technicality. This does not necessarily mean that they are poor managers or bad credit risks- it just means that they may need to access funds through alternative sources until circumstances permit them to again qualify for traditional financing.
Our client is a privately owned, Canadian merchant bank providing advisory services to the Canadian real estate industry. Their diverse team has experience in investment banking, asset and investment management, brokerage, land use planning, public sector, and commercial lending. They have a strong reputation for advising major institutions, public companies and large private businesses on real estate and infrastructure investments, corporate strategy, capital structures and financing requirements. In addition, our client engages in principal investing, with a focus on identifying potential platform-level investments that are well-positioned for long-term growth.
Innovative, well-capitalized, market-responsive- and never putting a deal ahead of a relationship- they have recently established a non-bank lending entity, created to serve the alternative farm lending market and assist farmers until they are again eligible for traditional agricultural financing.
Opportunity- Farm Finance Originator/Broker:
We seek a highly motivated professional who will help to establish the company as a leading alternative farmland lender in Canada. The successful candidate will ideally have 8-15, or more, years of experience in the farm lending business and will lead origination and underwriting activities in Ontario. The ideal candidate will be licensed as a Mortgage Broker in Ontario or will be a Mortgage Agent and eligible to obtain their mortgage brokerage license prior to commencing employment. Ideally, the candidate will play an integral role in growing the company’s operations and presence in Ontario, and in institutionalizing its operations and processes.
This is a home office-based role, with expectations for regular regional travel.
The individual should be a self-starter with a proven track record in the origination of farm loans in Southern Ontario. An entrepreneurial spirit, flexible approach, and strong drive to help farmers succeed will be essential. A background in loan origination for a traditional lender (Schedule A bank or Credit Union) is considered an asset, but not a requirement. Given the nature of the company’s lending activities, and its role as an alternative lender, the candidate will need to demonstrate capabilities in the following areas: Loan Origination, Local Knowledge, Relationship- building, Underwriting, Loan Qualification and Evaluation, and Operations and Risk Management.
Roles and Responsibilities:
- Origination of new loans, predominantly (if not exclusively) in the form of first mortgages on farm property, and typically with terms of 1-3 years
- Underwriting and assessment of new loans and loans originated by third parties, with a strong focus on assessing the character and understanding the circumstances of prospective borrowers and on valuing and identifying risks related to assets/collateral
- Ongoing relationship management, monitoring of borrower circumstances and providing advice or counselling to assist borrowers in re-establishing their ability to access traditional lending sources
- Preparation and presentation of materials to be presented to the company’s Credit Committee
- Record-keeping and compliance activities required of the Broker of Record in accordance with the Mortgage Brokers, Lenders and Administrator’s Act
- Growing the business and working with company owners and capital partners to enhance its eminence and reputation in the industry, increase origination, manage risk, and institutionalize its origination and underwriting process
- An undergraduate degree in commerce, agriculture, or another relevant field
- A minimum of 8 years of experience in farm lending at a major financial institution (e.g. Schedule A Bank, Credit Union, Crown Corporation, or independent mortgage brokerage
- Strong prospecting, negotiating, sales, counseling, and relationship building skills
- Demonstrated experience in farm loan origination, borrower qualification, financial statement review, underwriting and processing loan applications
- Experience preparing reports and documentation for review by a Credit Committee or equivalent
- Licensed as a Mortgage Broker or Mortgage Agent in the Province of Ontario
This position is immediately available and is a unique opportunity to build a business in the alternative financing sector, to help farmers to thrive, and to participate in the growth of the business. Our client offers an attractive compensation package consisting of base salary, bonus opportunity based on individual performance and profitability of the business, equity potential, benefits, travel expense coverage and more.
If this sounds like the kind of opportunity on which you personally might like more information, or you know someone who would, either apply now, or email Mike Bachner, VP, Practice Leader and Senior Recruiter on this file, today! email@example.com
Not the position for you? Consider our referral policy!
NOTE: Anyone who can legally work in Canada can apply for this job. If you are not currently authorized to work in Canada, we will not consider your job application as we are not licensed to assist with immigration. Those with temporary work permits or those located outside of Canada cannot be retained in our database.
Follow us on Facebook, LinkedIn, and Twitter!
Click here to apply online