Career opportunities in Loans Services and Underwriting; Ottawa (Multiple full-time positions\: Permanent and 18-month contract, starting in October 2018)
Export Development Canada (EDC) is Canada's export credit agency, offering information, knowledge and innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by more than 10,000 Canadian companies and their global customers in up to 200 markets worldwide each year. In 2017, EDC has been recognized as a Top 100 Employer and a Top Family-Friendly Employer.
EDC is financially self-sustaining, and is a recognized leader in financial reporting and economic analysis.
At EDC, we value diversity and inclusion. More specifically, we value diversity of thought. We will value your opinions and listen to your ideas on continuous improvement in order to remove obstacles, enhance the work environment and improve the customer experience. Come launch your career at EDC! Together we will go, grow and help exporters succeed internationally!
The purpose of this initiative is to offer recent university business graduates an overview of our corporation, while gaining hands-on experience, acquiring new skills, including analytical skills, and the potential to build a career.
We are looking for dynamic and motivated individuals who are eager to learn and ready to expand their horizons, while acquiring practical experience in loans and insurance.
*EDC will provide financial relocation assistance to help the successful candidate relocate to Ottawa, if applicable*.
You will be given the opportunity to work in areas such as:
Loans Services is responsible for the efficient management of all EDC financing products from point of signing to final repayment. The team ensures effective and timely management of a portfolio of financing transactions.
Some key responsibilities are:
- Interprets standard loan documents to create loan structures in EDC's loans operational system;
- Reviews incoming documentation for conformity to loan agreements, helping mitigate organizational risks in the flow of funds process at EDC while maintaining EDC's system of record;
- Collects loan repayments from customers in accordance with loan agreements, application of related funds and takes action in accordance with strategies developed for collection of overdue amounts;
- Builds knowledge of industry and business trends, events and international issues.
Credit Insurance Underwriting
The Credit Insurance Underwriting group facilitates international trade by helping their customers protect themselves against the risk of non-payment from foreign companies.
In the underwriting role you will be relied upon to engage with EDC's customers to understand their needs, structure insurance coverage and assess counterparty creditworthiness to achieve the optimal balance between customer-centricity and EDC's business requirements.
Some key responsibilities are:
- Understands customer needs, determines optimal insurance coverage structure, terms and conditions and participates in delivery of the product to the client or prospect;
- Assesses the creditworthiness of foreign companies, understanding the likelihood of a company honoring its obligations through in depth financial and credit analysis (liquidity analysis, leverage & maturity schedules, profitability, cash-flow management, third party\\bank support and other factors such as competitiveness, market conditions\\elasticity of demand, industry trends);
- Participates in developing loss mitigation strategies when allocated credits become at risk.
Contract Insurance & Bonding
The Contract Insurance & Bonding (CIB) Underwriter manages a portfolio of Canadian Exporters with the objective of delivering the appropriate bonding solutions to facilitate international trade.
The CIB-Underwriter will be responsible for assessing risks, primarily related to the exporter (credit, technical, contractual and managerial), and structuring transactions (pricing, legal requirements, documentation, credit enhancements, etc.) in order to meet customer needs while satisfying EDC's risk management requirements.
Some key responsibilities are:
- Assesses risks, primarily related to exporters (credit, technical, contractual and managerial), and presents results of risk analysis for approval within the proper guidelines and Delegation of Authority (DOA);
- Structures transactions (pricing, legal requirements, documentation, credit enhancements, etc.) to meet customer needs while satisfying the Corporation's risk management requirements;
- Partners with various internal subject matter experts and collaborates with various Canadian and Foreign banks, with Sureties, with EDC Account Managers as well as directly with the customer to determine if a transaction is viable and to mitigate risks.
- Completion of bachelor's degree in Finance, Commerce, Business Administration, Accounting or other relevant disciplines (completion of degree between 2016 to September 2018 is required)
- Minimum of 1 year of experience in financial services (banking or insurance), finance operations or related experience
- Experience reading and interpreting financial statements with financial analysis skills
- Basic knowledge of banking, cash flow management and/or servicing of loans
- Advanced Microsoft Office skills including Word, Excel and Outlook
- Strong preference will be given to bilingual candidates (English and French)
- Must be legally eligible to work in Canada (Canadian Citizen or Permanent Resident)
- International and/or commercial banking experience
- Working towards an MBA, CFA or CPA designation
- Working knowledge of insurance underwriting principles and practices
- Working knowledge of ACBS (Advanced Commercial Banking System)
- $52,000 – $79,000 (for permanent position only: plus performance-based incentive)
How to apply
Only candidates selected for an interview will be contacted.
Application deadline: September 30, 2018, 11:59 p.m. EST on www.edc.ca/careers
EDC is committed to employment equity and actively encourages applications from women, Aboriginal people, persons with disabilities and visible minorities. If selected for an interview, please advise us if you require special accommodation.
Candidates must meet the requisite government security screening requirements.