Brief Description
Role Summary
Reporting to the Vice President, Investment Management, the Associate Director, Funding is responsible for the oversight and execution of the Funding function within the Real Estate Debt division. This includes reviewing and approving conditions precedent, reviewing initial loan fundings and construction progress advances, and coordinating the loan funding process with internal and external stakeholders. The Associate Director, Funding has primary responsibility for credit and transactional oversight of the advances that KV Capital funds towards approved investments. The Associate Director, Funding ensures all funding activity is accurately reflected in KV Capital’s systems and investor reporting, and leads continuous improvement in funding controls, processes, and technology.
Responsibilities
Loan Funding & Coordination
- Oversee and perform the final review of conditions precedent prior to initial advances for new mortgage loan investments. This includes title, security documents, insurance, appraisals, environmental and geotechnical reports, cost consultant reports, and equity verification.
- Review and approve construction progress advance requests within delegated authority. This includes quantity surveyor and cost consultant reports, cost-to-complete recalculations, holdback review, lien searches, and title sub-searches. Loan program "exception" requests and higher-risk advance requests are escalated to the Vice President, Investment Management, where necessary.
- Oversee team members responsible for instructing external solicitors, reviewing solicitor reports, and coordinating funding with borrowers, brokers, legal counsel, consultants, and syndicate and institutional partners.
- Ensure fundings are executed in accordance with participation, syndication, servicing, and interlender agreements, including timely partner approvals, funding notices, and pro rata advances.
- Review funding packages issued to investors, including KV Mortgage Fund, for accuracy and completeness.
- Ensure all loan advances are accurately recorded in the system, enabling proper calculation of LTV, LTC, interest reserves, and remaining commitments.
- Work with the Capital Markets and Corporate teams to forecast funding requirements and committed undrawn balances for liquidity planning.
- Monitor commitment letter conditions and ongoing covenants throughout the funding period, and flag defaults, budget overruns, or adverse changes in project status.
Builder Lines of Credit (BLOC)
- Oversee the credit and transactional administration of the BLOC portfolio from approval through renewal and repayment.
- Review underwrites prepared by Origination and Investment Management for new BLOC facilities and renewals. Reviews cover:
- Builder track record, experience, and capacity;
- Corporate financial statements, tax filings, and work-in-progress schedules;
- Guarantor net worth, liquidity, and contingent liabilities;
- Inventory levels, absorption, and sales history; and
- Market conditions in the builder's target geographies and product types.
- Review and approve requests to add projects, lots, or units to existing facilities. Each request is assessed against facility terms, including eligible product types and geographies, per-unit and aggregate sub-limits, spec-to-presale ratios, LTV/LTC, budget reasonability, permits, and title.
- Review BLOC draw requests against unit-level budgets, cost-to-complete, and margin or borrowing base requirements.
- Monitor ongoing facility compliance, including aggregate limits, speculative unit limits, unit aging and maximum hold periods, concentration limits, and reporting covenants. Recommend curtailments, paydowns, or suspension of availability where warranted.
- Oversee unit sale repayments, partial discharges, release prices, and re-advances under revolving availability, ensuring net sale proceeds are applied in accordance with facility terms.
- Review amendments, extensions, renewals, and annual reviews of BLOC facilities in coordination with Origination and legal counsel.
- Conduct or coordinate periodic site visits and inventory inspections for BLOC facilities.
- Recommend enhancements to BLOC program guidelines, documentation, and reporting templates based on portfolio performance and market conditions.
Credit Review & Analysis
- Review credit applications on an ongoing basis, separately or in conjunction with Funding responsibilities, to evaluate:
- Market value reasonability;
- Borrower credibility and repayment ability;
- Project feasibility and exit strategy viability; and
- Market outlook, economic fundamentals, and risk factors.
- Review Letters of Interest, Commitment Letters, and amendments to confirm that funding mechanics are clear and administrable, including advance conditions, holdbacks, reserves, and release provisions.
- Identify key risks and mitigants in transactions, ensuring appropriate security and documentation structures.
- Support the management of high-risk and distressed files by providing funding history, cost-to-complete analysis, and recommendations on protective advances.
Process Improvement & Compliance
- Develop, implement, and maintain funding controls, checklists, and approval matrices to enhance accuracy in funding calculations and approvals.
- Ensure compliance with company policies, investor guidelines, KV Mortgage Fund Board resolutions, syndicate agreements, and regulatory, legal, and ethical standards related to funding.
- Monitor key operational metrics related to funding processes and recommend strategic improvements.
Special Projects & Strategic Initiatives
- Lead or participate in initiatives focused on optimizing funding operations, BLOC administration, and credit analysis methodologies.
- Support technology and automation enhancements to streamline funding workflows.
- Provide insight and recommendations for special projects, including market research and process improvements.
- Support the day-to-day operations of the Funding team by providing mentorship, technical guidance, and assistance to Funding Analysts, including support with work prioritization and ongoing training and development.
- Drive team engagement and ensure KVC's culture and values are embedded within the Funding team.
Requirements
- A bachelor's degree in finance, real estate, economics, business, or a related field is required. Advanced certifications such as CPA, CFA, or MBA are considered an asset.
- 5+ years of directly related experience in mortgage underwriting, credit analysis, construction lending, or loan administration.
- Demonstrated experience with construction draw processes, builder or revolving credit facilities, and funding procedures.
- Demonstrated ability to mentor and support the development of team members is considered an asset.
- Hold or is working towards being registered as a licensed brokerage associate in the relevant geographical regions for KV's business.
- Familiarity with mortgage loan documentation, legal security processes, syndication and interlender arrangements, and applicable regulations.
- Advanced proficiency in Microsoft Office, with demonstrated expertise in Excel.
- Comfort and ability to use, learn, and adapt to new technology and tools supporting business processes and analysis.
Summary
About KV Capital
At KV Capital, we have established ourselves as industry leaders in real estate debt and investment, driven by our unwavering commitment to excellent, trusted partnerships, and innovating solutions. Since our founding in 2006, we have expanded our business across three connected areas of service: real estate private equity, real estate lending, and private equity investments in real estate supply chain businesses. Managing a robust portfolio of +$1.8 billion in funded investments, accompanied by +$1 billion in assets under management, our dedicated team of finance experts is driven by a shared goal to cultivate prosperity for our clients, investment partners, and communities. We have office locations in Edmonton, Calgary, and Toronto, and continue to expand our reach nationally.
Real Estate Debt (“RED”)
Since its inception, our Real Estate Debt division has funded and/or advised on $2.5B+ of commercial deals. We provide financing solutions for land, subdivision financing, multi-family, retail, industrial, office, hospitality, mixed-use properties, and specialty financing, such as equity and structured finance deals.
What KV Capital Offers
- Competitive total compensation package, including performance-based and long-term incentives
- Eligible to participate in the Employee Stock Option Plan
- Comprehensive paid time-off package, including birthdays off and holiday office closures
- 100% employer-paid benefits
- Financial and organizational support for professional development opportunities
- Flexible work environment, including hybrid work offering (4 days in office, 1 day remote per week).
Apply Now!
Join us at KV Capital and be part of a dynamic team that is redefining success in the real estate debt and investment landscape. We are passionate about our business, our culture and investing deeply in your growth and development to build for the future. You will be part of an enthusiastic and highly effective team with no end to challenging and transformational work in sight. KV Capital is in a phase of growth and expansion, offering a collaborative work environment, recognition for outstanding performance and abundant opportunities for both personal and professional advancement.
For more information on our company, please visit our website at www.kvcapital.ca.
