Job Details

Requisition Number 18-248
Post Date 11/29/2018
Title Credit Operations Representative
Bilingualism Required [English/French] No
Reporting Manager Title Supervisor, Deposit & Credit Ops
Employment Status Full Time
Department/Branch Credit Operations
Location McRae Office
City Ottawa
Province Ontario

Scope of Position

The Credit Operations Representative will be the “service center” for all e-mail and telephone inquiries to support Retail and Commercial Credit Services Products. These include commitments, payouts, renewals, posting, property tax administration, cost of borrowing and any other Credit Operations administrative functions; and performs other related duties as required. 


Major Responsibilities

The Credit Operations representative is responsible for the following areas within Credit Operations:

  • Efficient preparation of all Payouts for internal or external use ensuring accuracy and communication with the Retention Team;
  • Thorough and efficient review of all incoming request prior to file preparation; to ensure that audit, risk, treasury  and securitization requirements have been met.
  • Maintain a high level of accuracy when completing all Commitment documentation in compliance with policies and securitization rules;
  • Reads, interprets and ensures validity of  supporting legal documentation such as Title Sub searches, Commitments to Insure and CMHC/GE Certificate etc;
  • Prepares all  legal documents and files in compliance with security and privacy regulations;
  • Prepares all Cost of Borrowing documentation ensuring up to date information and calculators are used in compliance with reporting guidelines.
  • Complete Cost of Borrowing maintenance documents ensuring that all changes to accounts are effectively reported and amendment disclosures are provided to members.
  • Reconciliation and accurate positing of Cumis Insurance accounts
  • Perform departmental audits for compliance with established policies and procedures to ensure regulatory, privacy and security compliance
  • Act as subject matter experts to our internal partners with respect to Retail and Commercial products, processes, document preparation and legislative requirements.
  • Prepare all new property tax account documentation and maintain existing property tax accounts and reconciliations.
  • Ensure timely and accurate payment of property tax invoices to all municipalities
  • Disburses mortgage funds via cheque, wire or EFT to solicitor and other financial institutions.  
  • Posts all credit transactions for retail and commercial accurately
  • Maintains an ongoing and comprehensive knowledge of all mortgage related products, services, promotions, calculations, rates and adheres to credit policies and procedures as set out by the organization;
  • Process the  funding and daily requirements for Commercial and Syndicated loan Operations;
  • Comply with regulatory deadlines to mitigate financial and reputational risk to our members/clients and Alterna
  • Prepare and complete mortgage discharges accurately relaying the information to lawyers, branch staff and members.
  • Reviewing documentation for quality control by identifying problems or challenges and initiating corrective actions.
  • Review all communication received from the Supervisor regarding any policy, procedure and/or legislative changes and ensure a comprehensive understanding of the changes.
  • Liaises with employees, member/client, lawyers, notaries, Commercial Department, and other financial institutions to facilitate all  credit product, insurance and commercial  transactions;
  • Complete User Testing for any banking system releases, ensuring all processes are functioning accurately and communicate any potential risks
  • Ensure department tracker is completed accurately on a daily basis.


Expectations and Outcomes

  • Provide professional service to all internal and external members, clients and partners
  • Consistently adhere to all legislative requirements, operational policies and procedures
  • Post all financial transactions in an accurate, timely fashion, ensuring all transactions adhere to established audit requirements and pre-determined service level agreements
  • Demonstrates teamwork and seek solutions and improvements of processes.
  • Actively participate in Credit Product training sessions provided by internal and third party partners
  • Proactively identifying enhancements to our processes and workflow which contribute to an excellent customer experience
  • Be cognizant of any backlog and proactively manage it to avoid negative impact to members/clients and other areas of Alterna.



  1. Educations/Certifications/Experience
  • Post secondary education and/ or equivalent work experience
  • 3 years of related experience in a financial institution
  • Proficient use of Excel/MS Word required
  1. Knowledge/Skills
  • Detailed working knowledge of Alterna Savings/Alterna Bank products and services
  • Good knowledge of Alterna’s banking system

3.   Competencies

  • Excellent verbal and written communication skills that enables effective interaction with   employees, members/clients and business representatives
  • Proven analytical and problem solving skills
  • Comply with hours of work to ensure deadlines and deliverables are consistently met.
  • Demonstrate time management abilities
  • Attention to details and accuracy
  • Excellent people skills and passion for providing exceptional member/client service
  • Ability to multi-task
Additional Information


*At Alterna, we offer a competitive total rewards program and an opportunity to truly make a difference. If you put people first and value excellence and integrity, we hope you'll apply!

* Although we appreciate all applicants, preference will be given to candidates who most closely meet the qualifications, key skills and competencies outlined above.

* Alterna is compliant with the Ontarians with Disabilities Act. If you have a disability, please contact the recruiter to let us know how we can accommodate you.

About the Alterna Financial Group

The Alterna Financial Group (Alterna) is celebrating 110 years of being the good in banking! Alterna is made up of Alterna Savings and Credit Union Limited and its wholly-owned subsidiary, Alterna Bank. Together, we have over $7.13 billion in assets under administration. Our members and customers benefit from industry leading online brokerage and investment management services and have access to the largest surcharge-free ATM network in Canada with THE EXCHANGE® Network, providing access to over 3,700 ATMs.

Alterna Savings has been charting new directions to help Ontarians and achieve their financial dreams and build strong, vibrant communities for more than a century. As the first full-service, member-owned co-operative financial institution outside Quebec, Alterna Savings shares our expertise with more than 158,000 members through a network of 32 credit union branches across Ontario, including our federated partner Peterborough Community Savings, a division of Alterna Savings and Credit Union Ltd. 

Alterna Bank is one of the most innovative banks in Canada and the first to offer all Canadians an end-to-end digital mortgage experience. Customers also get fully-digital financial services that include our highly competitive high-interest eChequing, eSavings, RRSP and TFSA products available online and through mobile banking.

For more information please visit and and connect with us on

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