Director & Team Lead, Wealth Credit Solutions

Requisition ID: 166667

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Job Purpose
The Director, Credit Solutions - Private Banking is responsible for contributing to the profitable growth and the quality of the Private Banking credit portfolioby overseeing the operation and delivery of Private Banking Credit Solutions, ensuring credits are properly structured and negotiated, and through coaching (Sr.) Credit Solutions Managers and Sr. Analysts, and supporting the Private Banking Regional Director. The incumbent will oversee the completion of complex lending transactions within a designated portfolio, geography or client segment. The role has responsibility for the achievements of their team and the team's overall financial objectives.
Through advanced knowledge of customized commercial lending and risk management, the incumbent will oversee and direct the overall credit underwriting quality by developing the team's credit underwriting skills and acting as the Subject Matter Expert for the (Sr.) Credit Solutions Managers and Sr. Analyst.

The incumbent works closely to maintain a strong and viable working relationship with the Private Bankers and GRM.

Key Accountabilities
1. Overseeing the completion of all Private Banking customized/commercial credit solution activities undertaken by (Sr.) Credit Solutions Manager(s) the in the assigned territory/Centre(s) by:

• Expanding the knowledge of (Sr.) Credit Solutions Manager(s) around the Private Banking Value Ladder and borrowing to invest strategies including leveraged investment portfolios, leveraged insurance strategies and to improve (Sr.) Credit Solutions Manager(s) overall underwriting capabilities and credit productivity
• Managing the timely analysis, structure and presentation of credit / financial solutions proposals within Centre(s), including managing your own portfolio of the Centre's most high value and complex accounts
• Providing prompt and sound recommendations in the analysis and adjudication of credit proposals
• Reviewing the quality of writings prepared by the (Sr.) Credit Solutions Manager to the Director, PB or Primary Private Banker to ensure they clearly convey the rationale for decisions, so that they may respond effectively to clients
• Serving as the Subject Matter Expert to ensure (Sr.) Credit Solutions Managers develop credit proposals that are properly analyzed, structured and presented with sound recommendations
• Providing guidance and direction in the recommendation of loan pricing and credit-related fees, yielding a return commensurate with risk and due regard to profit, administration and competitive considerations
• Oversee the recommendation of terms, conditions and covenants to provide a viable banking proposal to the client within sound lending parameters; restructuring marginal proposals into bankable deals, where possible, often under considerable time constraints
• Maintaining expert knowledge of complex credit products, capital markets instruments, target client profiles and guiding Credit Solutions Managers to proactively identify opportunities to apply these solutions
• Act as additional resource for guidance, coaching and counsel to Private Bankers & Associates, so that they may better serve clients' needs

2. Managing the ongoing quality of the credit portfolio by:

• Monitoring the Private Banking portfolio against Credit Risk Strategy parameters
• Ensuring that an effective system of review and follow-up is maintained for all accounts within the assigned geographic area;
• Ensuring the quality of loan portfolio
• Overseeing the proactive identification of problem loans and recommending appropriate provisions to Global Risk Management
• Directing Credit Solutions Managers in the annual review process and detailing the evaluation of all information received for reporting purposes
• Monitoring and reviewing the management of credit within the segments and assigned geographic area, as reported through loan audits and OSFI reviews, and responding or taking action as appropriate, including alerting the MD, Wealth Credit Solutions to unsatisfactory trends
• Advising senior management of any credit weaknesses developing within individual accounts, by ongoing awareness and analysis of relevant financial, legal, political, technological, and industry information
• Recommending appropriate corrective action to minimize losses and maximize recoveries;
• Meeting with customers, lawyers, or receivers where necessary, to develop action plans
• Ensuring the team adheres to any regulatory and internal Bank policies including compliance requirements, such as assessment of Reputational and Suitability Risk
• Ensuring the team's adherence to the Bank's Anti-Money Laundering program, Know Your Customer requirements and Guidelines for Business Conduct, by reporting any unusual occurrences or fraudulent activities per established procedures
• Providing guidance on risk analysis, deal structuring, credit pricing, preparation of credit applications and client negotiations.
• Managing Credit Risk Strategy parameters such as credit portfolio quality, loss rates, and past-due reviews

3. Overseeing the teams accurate communication of the terms and conditions of an authorization and supervises the effective and timely implementation of same by:

• Reviewing all written authorizations to ensure accuracy, completeness and clarity
• Managing team's processes for follow-up for acceptance of authorizations and reacting swiftly to any problems, amendments and extensions, reported by team
• Promptly and effectively addressing issues surrounding the adequacy, quality and completeness of loan documentation and security
• Ensuring any required changes are actioned by the Credit Solutions Manager and follow-up for the accurate execution and delivery of same prior to disbursement of funds

4. Provide strong team leadership to motivate and develop individual and team performance by:

• Providing coaching and guidance to the team to ensure effect support of relationship management teams
• Fostering and developing a strong, positive team environment, driving employee empowerment, innovation and a high degree of engagement
• Exhibiting an ability to listen, negotiate and communicate goals
• Sharing knowledge, experience and responsibility with employees in a drive for the highest standards of professionalism and service excellence
• Establishing & monitoring performance objectives and measures, and providing timely performance (& non-performance) feedback with regards to roles, tasks and expectations
• Effectively utilize and develop staff to fill the needs of Private Banking and longer term requirements of the Bank; ensure direct reports become knowledgeable in products, services and procedures
• Conduct effective performance assessments and make sound recommendations for career development and that employee development is a priority for all employees on the team
• Regularly scheduling one-on-one coaching with direct reports
• Identifying and supporting training and developmental needs of team members
• Managing staffing requirements and departmental workloads

5. Develops new, innovative lending solutions by:

• Evaluating and identifying product gaps and new business opportunities
• Contributing to the development of new product solutions, including preparation of proposals to gain Global Risk Management approval for new products or changes to existing offerings/policies
• Working with operations and technology teams to implement new lending products and policies
• Maintaining an awareness of competitor offerings
• Representing Private Banking on Global Wealth New Products Committee
• Liaising with Global Risk Management through the credit decision-making process.

6. Develops and implements improvements in credit processes and lending policy by:

• Representing Private Banking in discussions with Global Risk Management, Retail Product Policy, and Shared Services (ACE) regarding process improvements for Private Banking loan adjudication
• Identifying and recommending changes to investment lending policies (including new lending products)
• Providing timely performance feedback on credit analysis and applications developed by team - team leadership
• Business line's representative on the Data Governance working group to improve Wealth MIS capabilities
• Developing and recommending additions/revisions to commercial credit policies based on economic and industry trends
• Providing input into, or recommending for approval, changes with respect to credit documentation, credit programs/products and manual sections

Functional Competencies

• Strong coaching and leadership skills including previous people management experience
• In-depth knowledge of the Bank's lending policies, practices and procedures, as well as an awareness of business trends economic, technological, social, legal and political conditions and factors which could affect the viability of a credit
• Expert knowledge and understanding of financial statements and accounting principles and policies, as well a solid understanding of capital markets instruments
• Strong verbal and written communication and negotiation skills are essential
• Expert understanding of the administration of credit, complex loan documentation and security provision requirements
• A high degree of flexibility is required to adapt to a wide variety of tasks and functions
• Must have a proficient understanding of tax, estate and financial planning and investment vehicles
• Must understand complex organizational structures including family trusts and holding companies
• The incumbent must have a good knowledge of the of the broad Wealth Management offering, including the services of Scotiatrust, Scotia Asset Management , ScotiaMcLeod, and should have familiarity with the Bank's International Private Client Group offering

Education / Experience

• University degree in business, accounting or a related discipline required
• Must have 10 years of Managerial level Commercial Banking experience dealing with high net worth clients and sophisticated financing requirements or equivalent experience

Location(s): Canada : British Columbia : Vancouver

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.

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Banking, Finance and Insurance