Job Specification

Purpose :

To oversee and implement the social housing mortgage renewal process on behalf of Service Managers. To provide mortgage renewal and mortgage loan expertise, advice and guidance to Service Managers, housing sector organizations and other partners regarding mortgage instruments and redevelopment and refinancing strategies, and mortgage-related issues associated with the borrower's financing needs.

Key Responsibilities :

1. Oversees and implements the renewal of mortgages on behalf of Service Managers and social housing providers and coordinates the mortgage tranche activity with the Ontario Financing Authority and CMHC.

2. Provides direction to the Administrative Assistant on administrative aspects of the social housing mortgage renewal process including the identification of upcoming projects for renewal; monitoring, extrapolation and update of relevant information for the preparation and distribution of mortgage renewal packages (including the project information form, board resolution, housing provider checklist, introductory letter) for completion by housing providers.

3. Ensures the maintenance of various tracking systems and generation of spreadsheets and reports (e.g., investment reconciliations, amortization schedules, variable interest rates, credit worthiness reports), to facilitate appropriate oversight.

4. Provides mortgage renewal advice, consultative services to Service Managers, housing sector organizations and other partners across the Province including provincial staff at MOHLTC and MCSS on the mortgage renewal process, financing strategies, social housing redevelopment and regeneration initiatives and options to meet their respective specialized mortgage/ financing needs.

5. Works with Service Managers in order to provide knowledge transfer and facilitate the resolution of mortgage renewal issues that may affect their ability to administer social housing within the context of the Housing Services Act. Identifies, analyses and assesses mortgage renewal related issues and options (e.g., various financial instruments and tools) and the enforcement of legislative requirements. Facilitates risk mitigation strategies to assist Service Managers in social housing mortgage renewal issues with housing providers. Acts as a key advisor to Service Managers and provides advice with regard to sale, purchase, mortgage portability, protocol issues, documentation requirements and insurance process.

6. Acts as the senior staff contact regarding social housing mortgage renewals with lending institutions, lawyers and other related parties (e.g. Canada Mortgage and Housing Corporation, Ontario Financing Authority) to facilitate discussions among lenders, Service Managers, housing providers and financial officers to ensure timely mortgage payments, resolving issues such as arrears, and documentation requirements.

7. Develops and maintains working relationships with partners and colleagues within the ministry and among Service Managers and Canada Mortgage and Housing Corporation to respond to queries and resolve mortgage related issues.

8. Works collaboratively with other staff by providing advice and guidance in reviewing requests, business cases and submissions by Service Managers and housing providers for the approval of ministerial consent under the Housing Services Act for the sale and/or transfer social housing projects or land.

9. Designs, develops and delivers a range of social housing mortgage renewal and refinancing related training, best practices and information sessions for Service Managers and other provincial Ministry's as required.

10. Prepares a variety of materials including briefing notes, issues notes, decision notes, ministerial correspondence, presentations and other materials as requested by ministry management.

11. Provides advice and support to colleagues within other Branches/Divisions to provide mortgage loan expertise and input on various ministry initiatives including policy development, program design, and business case development within the context of the Housing Services Act.

12. Other duties as may be assigned by the Manager.

Knowledge / Skill :

Knowledge of and skills in:
-Accounting and financial management principles and practices with specialized knowledge of mortgage financing and loan administration -Real estate practices and debt management to oversee the social housing mortgage renewal process on behalf of Service Managers; and to provide mortgage renewal and loan expertise, advice and guidance on mortgage loan instruments and redevelopment strategies for Service Managers.
-Ministry social housing and related housing programs, relevant legislative authorities (e.g., Housing Services Act, Bank Act, Mortgages Act, Construction Lien Act) and the branch's mortgage renewal process to oversee the renewal of mortgages to provide mortgage renewal advice and consultative services to clients and partners within legislative authorities and program guidelines.
-Risk management methods and analytical and problem solving skills to develop and facilitate risk management strategies and the resolution of mortgage renewal issues affecting social housing.
Computer proficiency to ensure the maintenance of various tracking systems and generation of spreadsheets and reports.

Interpersonal / Influencing Skill :

-The position requires a significant degree of tact, diplomacy and professionalism as the front-line resource on social housing mortgage and refinancing
matters and represents 'the face' of the Ministry to external stakeholders.
-There are competing financial and political interests and inflexible deadlines and the position have to manage these factors in a facilitative and
constructive manner.
-Negotiation skills to engage with lending institutions and CMHC.
-Presentation skills to present various re-financing and mortgage options to Service Managers and housing providers. Options must minimize risk and
promote long-term financial accountability and transparency.
-Impact and influence is required for dealing with Canada Mortgage and Housing Corporation and private sector lending institutions to ensure
appropriate flexibilities are provided in various mortgage financing matters.
-Consultative and business relationship skills to develop and maintain working relationships with partners and colleagues and provide expertise and
advice as the senior staff contact regarding social housing mortgage renewals. Oral and written communication, and presentation skills to design,
develop and deliver a range of mortgage renewal related training and information sessions and to prepare a variety of materials including briefing notes,
issue notes, ministerial correspondence and presentations.

Analyzing / Problem Solving Skill :

Analyzing and problem solving skills to:
-Oversee all phases of the mortgage renewal process for the province's social housing mortgage portfolio while ensuring strict deadlines are met, mortgage terms and conditions are complied with and risks are minimized.
-mortgage renewal and new mortgage loans related issues associated with the borrower's financing needs.
-financial analyses related to mortgage renewals investment reconciliations, amortization schedules, variable interest rates, credit worthiness reports to facilitate and advise Service Managers, housing sector organizations and other partners across the Province.
-Financing strategies and options to meet provider and Service Manager social housing mortgage/financing needs while ensuring compliance with the Housing Services Act.
- resolving issues such as arrears, and documentation requirements.
-Reviewing requests, business cases and submissions in the consideration of ministerial consent under the Housing Services Act for sale/transfer of
social housing.

Decision Making / Responsibility :

Responsible for:
-Managing the social housing mortgage renewal process on behalf of Service Managers.
-Providing expertise as needed in the decision making process for the review of ministerial consent requests for the sale or transfer of social housing under the Housing Services Act.
Providing loan expertise and input on various ministry initiatives including policy development, program design, and business case development within the context of the Housing Services Act.
-Coordinating the social housing mortgage tranche activity with the Ontario Financing Authority.
-The CMHC Direct Lending program, in compliance with its own rules and criteria. Incorrect oversight of the mortgage renewal process and subsequent provision of expertise and advice could result in provincial and Service Manager liability issues and the potential loss of dollars due to late payments and interest charges by lending institutions. This could result in complaints and criticism of the branch by social housing providers and Service Managers.

Contacts / Stakeholders :

Service Managers to provide mortgage renewal and loan expertise, advice and guidance, facilitate risk management and to oversee the renewal of social housing mortgages on behalf of Service Managers.
-section/branch colleagues to provide mortgage renewal and loan expertise and advice and to participate in the decision making process for the approval of ministerial consent under the Housing Services Act where necessary.
- branch/division colleagues and Manager/Director to provide loan expertise and input on various ministry initiatives.
- legal staff, Ontario Financing Authority, program staff at MOHLTC and MCSS and act as the senior staff contact on all social housing mortgage renewals.
- social housing providers, private sector lending institutions, Service Managers, housing sector organizations and other related parties (e.g., Canada
Mortgage and Housing Corporation) to facilitate discussions, resolve mortgage-related issues and oversee the mortgage renewal process.

Guidance / Supervision :

-Provides functional direction to the Administrative Assistant on administrative aspects of the social housing mortgage renewal process.
-Provides mortgage renewal and loan expertise, advice and guidance regarding mortgage loan instruments and redevelopment strategies, and mortgage-loan related issues associated with the borrower's financing needs.
-The position does not have a direct supervisory role of other staff.

Demands / Pressures :

Work Demands :

Normal working office environment. There will be times where inflexible deadlines from the Ontario Financing Authority, CMHC and Service Managers will require an enhanced work focus.

Mental / Sensory :

Normal working office environment. There will be times where inflexible deadlines from the Ontario Financing Authority, CMHC and Service Managers will require an enhanced work focus.

Conditions / Environment :

Normal working office environment.