- Job type – Permanent, full time
- Location – In office role, downtown Calgary, AB
- Working hours – Standard business hours MST
Base Salary: $100-125k, plus the ability to earn an annual bonus of up to 50% based on the achievement of KPI's.
Your Talent, Your Terms | Results, Recognition and Rewards
What’s the job:
The Director, Portfolio is an integral role within Travelers, one of which that is vital to the long-term growth and success of the business. The Director, Portfolio requires a high-degree of interface with our clients and on-going management of Travelers’ portfolio investments. First and foremost, this is a hands-on portfolio management role overseeing a book of asset-based loans and leases to Canadian and U.S. borrowers, including the active management of distressed and workout files through to the recovery of assets. As an asset-based lender, the strength of Travelers’ collateral position is central to every file; this role is expected to maintain a clear, current view of collateral coverage and credit risk across the book, identify emerging risks early, and bring well-supported recommendations to senior leadership on how to protect and preserve capital.
Responsibilities include, but are not limited to, day-to-day management of the Travelers portfolio of investments, review and analysis of on-going portfolio company reporting, assist with execution of live transactions, initiate and control the restructuring/recovery of deployed capital, and assist with the required amendments as requested or deemed necessary within the existing portfolio.
The Director, Portfolio will work closely with the leadership team to assist in the effective management and operational efficiency in all aspects of the business, contributing to the profitable growth and scalability of Travelers Capital. This role will sit between the associate level and senior leadership, providing mentorship, skill development to the associates, while providing support and being mentored by the leadership team.
What you’ll be doing:
- Responsible for the overall post-closing monitoring and management of the Travelers’ investment portfolio, including the diligent collection and review of all reporting requirements, monitoring the good standing of each portfolio investment, and assisting with any remediation steps taken by Travelers as necessary to protect and efficiently manage the portfolio.
- Onboard new files from the underwriting team into portfolio management, including setting up payment schedules and monitoring, setting reporting expectations with borrowers and following up on post-closing deliverables.
- Monthly, oversee portfolio performance and monitoring, including actively checking-in with portfolio companies / managed debtor entities to ensure compliance of reporting requirements, investment covenants, and ad-hoc deliverables.
- Manage relationships with both Canadian and U.S. borrowers within the portfolio, coordinating with counsel and other advisors on documentation, collateral security and enforcement matters.
- Conduct critical analysis of the information collected from debtor companies and identify improving or deteriorating debtor trends, potential breaches of covenant, trailing-12 month analysis, collateral coverage and asset values, and on-going key credit metrics, and escalate emerging risks to Senior Leadership with a recommended course of action.
- Maintain a current view of collateral across the portfolio, including appraisal and valuation currency, borrowing base and margin compliance, and inspection and field exam results, and flag any erosion in collateral position early.
- Assist in authoring formal credit amendment memorandums to the investment committee and/or investment partners, complete with key credit metrics, and control the documentation and implementation process of such amendments.
- Pro-actively monitor and work with clients going through periods of rigorous transition, providing strategic advice, consult, analysis, and recommendations to the VP and investment committee on future-looking amendments to maintain good standing and preservation of capital.
- Maintain a forward view of maturities, renewals, extensions, amendments and registration expiries (PPSA/UCC, insurance) across the portfolio, and prepare recommendations for senior leadership well in advance. This role is expected to be proactive, not reactive.
- Responsible for on-going documentation and working with outside firms (i.e. counsel, trustees, etc.) on processes including, but not limited to, regular course loan/lease modifications, payout requests, asset discharge requests, renewal and extension agreements, potential work-out documentation (i.e. demand notices, forbearance agreements, etc.), pending and on-going recovery, remediation and restructuring materials, and initiate and conduct formal recovery proceedings, including appointment of bailiffs and receivers. This individual will assemble and maintain certain standard documents that can be completed in-house as well.
- Responsible for the early identification of file deterioration and assist Risk team with managing through resolution, including assisting in developing and executing workout strategies, negotiating forbearance and restructuring terms, and overseeing the realization and recovery of collateral assets.
- Assess several business concerns and work with the team to formulate recommendations to the investment committee / various stakeholders. This may include preparing written reports for Travelers counsel and/or other stakeholders in accordance with the mandate of the file and collaborating with a trustee /receiver in dealing with legal elements of the recovery process.
- Responsible for portfolio organization and maintenance by obtaining final or post-closing requirements to ensure each file is complete, monitoring timelines and milestones which enable the lender’s portfolio management rights (i.e. annual collateral valuations, etc.), and the execution and management of said lender rights.
- Works with VP and accounting department as a liaison to manage the proper accounting of each financing during the term of the investment.
- Keep payment schedules current and correct for every file, and keep each file well organized and fully documented in SharePoint.
- Prepare regular portfolio-level reporting for senior leadership, analyzing the portfolio for overall trends, concentrations and credit risk, identifying and updating on assets under scrutiny/workout, and summarizing key statistics.
- Lead periodic reviews of each file, including risk rating and watchlist recommendations and proposed actions, for review by senior leadership.
- Responsible for reporting on and escalating any unusual occurrences or fraudulent activities in any areas of the portfolio.
- Understands and adheres to the standards and procedures of the Anti-Money Laundering program, Know Your Customer requirements, and Guidelines for Business Conduct.
- The candidate will exhibit a natural curiosity for the subject matter and apply critical thinking to the task at hand and its respective impact on the overall business and its stakeholders.
- Review the work of the associates and help mentor and develop them.
- Identifies opportunities for automation/streamlining and process improvements to improve efficiencies and to increase productivity in workflows.
- Provide excellent customer service through strengthening client relationships, answering queries in a timely manner and owning the day-to-day operations of the on-book portfolio.
- Ability to complete tasks with thoroughness and attention to detail, while also effectively meeting deadlines and managing complex and heavy workloads with minimal supervision.
- Adapts and identifies with Travelers culture, vision, purpose, mission, and EASY principles.
- Perform other job-related duties as required to meet organizational needs
What you bring:
- 3+ years of portfolio management experience actively managing a portfolio of commercial loans, with a preference for asset-based lending, preferably within a private capital firm, financial institution, or consulting firm
- Bachelor's Degree in Commerce or related field, or diploma of equivalent recognition with at least 3-4 years of study
- Strong integrity, professionalism and work ethic without sacrificing your ability to have fun on the job
- Strong communication skills, with excellent verbal, written and presentation abilities and the confidence to deliver clear, direct messages to borrowers, investment committee and senior leadership
- Sound credit and collateral judgement, with a demonstrated ability to identify emerging risks in a portfolio and bring clear, well-supported recommendations to senior leadership on protecting capital
- Advanced knowledge of general business principles and practices, including, analyzing, and interpreting financial data as well as a working knowledge of secured creditor enforcement and remediation rights
- Proven ability to understand the business, needs and pressures of borrowers and other key stakeholders (including counsel, trustees, receivers and co-lenders), and to negotiate effectively with them in the interest of the firm. This skill is key to maintaining strong client relationships, resolving issues early and protecting Travelers’ capital
- Demonstrated experience managing distressed and workout files, including negotiating forbearance and restructuring arrangements and the realization and recovery of assets, is a strong asset
- Experience in asset-based lending, including collateral monitoring, appraisal review and borrowing base structures, is strongly preferred; restructuring and insolvency experience is an asset.
- Experience managing relationships with U.S. borrowers, including coordinating with U.S. counsel and other advisors on cross-border documentation, collateral and enforcement matters, is a strong asset
- Proficiency in Word, PowerPoint,Outlook, and specifically Excel
- Ability to travel (as required)
Why join TCC:
TCC’s culture is results, recognition and rewards based, with a focus on achieving results in a high performing team environment.
As part of the Travelers Financial Group of Companies, Travelers Capital Corporation is an alternative capital provider to public and private mid-market enterprises seeking custom finance solutions outside of those offered by traditional lending institutions. TCC is a full scope financier providing asset based loan and lease solutions to borrowers facing a variety of traditional funding challenges, from transitional and distressed balance sheet restructurings to rapid growth working capital and acquisition requirements. With a deep understanding of asset finance and operation management, TCC is able to evaluate a borrower’s capital needs and inherent risks from an enterprise perspective, allowing for tailored, creative, and timely credit solutions.
Results, Recognition, and Rewards: At TCC, we are driven by results and committed to recognizing and rewarding your achievements. Through performance-based rewards and growth opportunities, your contributions are valued and acknowledged, motivating you to continue excelling in your role.
Growth opportunities and supportive leadership: Our leaders are committed to your professional growth and success. They provide guidance, resources to help you develop your skills, expand your knowledge, and achieve your career goals within the organization.
Employer paid benefits: At TCC, we prioritize the well being of our team by offering a comprehensive benefits package. Our medical and dental plan includes vision care and life insurance, ensuring you and your dependents have the coverage you need.
Employee Investment Program: We believe in helping you achieve your financial goals. Our investment program offers the choice of RRSP, TFSA, and Cash accounts. To further support your savings, TCC provides a company matching program, helping you grow your investments more effectively.
Promoveo: TCC celebrates choice and offers the ability to work in office (Vancouver & Calgary), hybrid or remote (for most roles). We know that our team members are the most important part of our business and we trust in our team members to work in a way that provides them the ability to succeed in their work.
TCC is an equal opportunity employer and employs team members without regard to Indigenous identity, race, colour, ancestry, place of origin, political belief, religion, marital status, family status, physical or mental disability, sex, sexual orientation, gender identity or expression, age, or any other protected personal characteristic. Accommodations are available on request for candidates taking part in all aspects of the recruitment process. If needed, please notify our Talent Acquisition Team.
Artificial Intelligence (AI) tools may be used in the process to screen, assess, or select applicants for a position but all decisions and determinations are made exclusively by the hiring team.
This job posting is for an existing vacancy within the organization.
Offers of employment are conditional upon satisfactory completion of background screening, including references, criminal and credit checks, conducted in accordance with applicable privacy laws.
