Infrastructure Ontario (IO), an Ontario crown corporation, provides a wide range of services to support the Ontario government’s initiative to modernize and maximize the value of public infrastructure and realty. IO has been recognized domestically and internationally for the way it does business and the success it has had with its major projects, real estate services, infrastructure lending, commercial projects, and development mandate. IO delivers some of the most complex, ambitious commercial and land development solutions for the Province and continues to evolve and expand its capabilities to maximize its public impact and deliver on its vision of creating a connected, modern and competitive Ontario.
Infrastructure Lending
Our Loan Program has helped support more than $18 billion in local infrastructure investments across Ontario. It provides affordable, long-term financing to public sector clients, allowing them to modernize and renew their infrastructure.
We have helped hundreds of clients deliver thousands of community projects in all parts of the province. Our Loan Program has been used to revitalize roads and bridges, build new recreation centres and affordable housing units, and purchase equipment like fire trucks and energy-efficient streetlights.
We tailor our loans to meet the unique needs and complex development challenges of municipalities, housing providers, universities and other eligible public sector clients. All borrowers within each sector share the same affordable rates and benefits of the Loan Program regardless of their size or location.
Each loan is different but its impact is the same: efficient, healthier and more prosperous communities across Ontario.
As part of the Infrastructure Ontario lending team, this role will provide support and coordinate the intake, exchange, and review, of loan applications from initial intake by the relationship managers, through the underwriting and credit adjudication and approval process, to coordinating the execution of financing agreements and collection and review of documents required to fund loan advances.
The successful candidate will be responsible for organizing, managing, and working in close collaboration with relationship managers, underwriters, and legal counsel to ensure that all required documentation for short and long-term financing requests, annual reviews and loan renewals are sent out and reviewed in accordance with the applicable timelines for funding advances, and for answering questions from clients at all stages of the loan lifecycle.
Deliverables include administering the payments process for incoming principal and interest payments, tax accounts and capital reserve accounts for IO’s loan program and payment reconciliations accordingly with IO’s Finance and Treasury team.
What You Will Do:
- Assist clients in completing a successful loan application, including providing guidance on the process to clients, issuing user ID and passwords for the online application, and providing assistance to clients in completing the online form/documentation.
- Ensure the correct municipal by laws, certificates, and other supporting documentation are received from clients and reviewed by legal in accordance with applicable timelines.
- Ensure all required supporting documentation for loan advances are submitted by clients and reviewed for completeness and quality of information in accordance with the applicable timelines.
- Track client files through the application process and follow up with clients and internal colleagues (credit, legal, relationship managers) to ensure timelines are met.
- Work with corporate legal to correctly finalize financing agreements for municipal clients.
- Maintain and file loan application/client information in Infrastructure Ontario’s record management system.
- Organize and manage the documentation for short and long-term financing requests, annual review and renewals, to ensure high quality client service.
- Work closely with corporate legal to confirm all required documentation is collected and reviewed prior to flowing funds.
- Proactively follow up and discuss with clients long and short-term financing options, timing, and update of cash flow forecasts where required.
- Participate in all loan system User Acceptance Testing including testing and evaluation of all loan system upgrades, reconciliation of data and information, identification of problems or errors and recommends solutions.
- Receive and respond to calls from new/existing clients, ensuring a high level of customer service and the provision of timely and accurate information.
- Respond to internal and external data requests, including audit summaries, for loan information and produce reports for senior management/ministries regarding the status of the loan applications and cash flow activity.
- Provide annual information statements, payment statements and interest accrual statements to clients as required.
- Administer payments for IO’s loan portfolio.
- Any other tasks and responsibilities as required.
Who We’re Looking For:
- Relevant academic background such as Finance/Business/Economic degree or equivalent work experience.
- Good understanding of financial and/or loan theories, principles and practices.
- Previous working experience and knowledge in construction financing and municipal lending would be considered as an asset.
- Knowledge of public/corporate finance, banking and business administration principles.
- Excellent written and verbal communication skills to provide information and respond to queries from IO management and staff, stakeholders and municipal contacts.
- Exceptional organizational skills with the ability to work within tight deadlines.
- Ability to manage documentation and complex processes.
- Advanced database/spreadsheet skills (Excel, Access, etc.) and ability to analyze, interpret, and synthesize financial data to prepare reports.
- A strong understanding of loan managements systems
What's in it for You:
- Commitment to creating a diverse, equitable and inclusive culture that promotes a sense of belonging and represents and reflects the needs of the communities we serve.
- A flexible, hybrid work approach that allows colleagues to find balance between their professional and personal lives and making the most of the benefits of working remotely and purpose-driven in-person collaboration opportunities.
- A defined contribution pension plan, where IO contributes the equivalent of 5% of a full-time employee’s annual salary, with an option for IO to match an additional 5% contribution made by the employee. IO also offers a Group Retirement Savings Plan and Group Tax Free Savings Account, designed to help IO colleagues plan and save for their future.
- A comprehensive package that covers health, dental, vision, out-of-country care, paramedical services, and more.
- A pregnancy and parental leave program that offers expecting, eligible employees a top-up to 95% of their annual base salary for 31 weeks, and our parental leave program offers eligible employees a top-up to 95% of their annual base salary for 15 weeks.
- Access to our $1000 Healthcare Spending Account to top up expenses not covered in the benefits program and a Lifestyle Account that expands the eligibility of health and wellness options and can include coverage for fitness equipment, nutrition counselling or financial planning.
- Support for professional development opportunities for all colleagues through a broad range of learning programs that include in-person and online training, leadership development, and support for colleagues’ well-being. IO will also cover the costs associated with up to two membership and licence fees per year for eligible colleagues if directly related to the employee’s role.
- Access to a suite of virtual healthcare options to support non-urgent medical needs
This posting will close on November 6th 2024.
The salary range for this position is $62,600 to $93,900 with a corresponding job level of P3
Exact compensation may vary based on skills, knowledge and experience
Interviews will be conducted on a rolling basis until the position is filled.
After reviewing the qualifications listed above, we want you to know that we understand you may not meet all the qualifications described, but still encourage you to apply, as you may have other relevant expertise and experience that you can bring to the role.
At Infrastructure Ontario, we strive to create a culture that encourages a diverse equitable and inclusive environment that fosters belonging. We believe that experience comes in many forms and through learning from each others’ differences and perspectives gives us strength. We are committed to enhancing our culture and encourage applications from all walks of life. Let us know if you require any accommodations for the selection process, by contacting the Talent Acquisition Team.
Candidates who are members of Indigenous, Black, racialized and 2SLGBTQ+ communities, persons with disabilities, and other equity deserving groups are encouraged to apply, and their lived experience will be taken into consideration as applicable to the posted position.
By submitting your application you are granting Infrastructure Ontario permission to process your personal data during the recruitment process and for keeping records of the process. Infrastructure Ontario may share your personal data internally to appropriate persons involved in the recruitment process and to third parties where there is an administrative or lawful basis for doing so. Provided that Infrastructure Ontario does not have any lawful reason to continue processing your personal data, you may make a formal request to rectify, erase or restrict (the processing of) your personal data.
