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Validation Officer Funding - Dealer Finance Centre, Hamilton, ON

Date: Aug 13, 2019

Location: Hamilton, ON, CA

Company: Scotiabank






Requisition ID: 66895


Join the Global Community of Scotiabankers to help customers become better off.

 Join the Global Community of Scotiabankers to help customers become better off.


The Validation Officer is responsible for completing verification and validation of critical information contained in approved loans / leases and other related supporting documents prior to release of funds.



  1. Perform all verification activities related to approved Indirect Retail Loans and Leases received for funding by:
  • Verifying documentation to checklist to ensure that all original loan/lease documents are included in the funding package from the dealer;
  • Verifying that employment/income shown on Credit Bureau file or on pay stubs matches back to the original approved application.  Referring the deal by electronic Alert back to Lending for re-decision;
  • Verifying vehicle insurance coverage and residence as required by the Indirect Retail Lending Policy Bulletin;
  • Verifying the validity and accuracy of Conditional Sale Agreement or Retail Lease Agreement in all respects including verifying the collateral description in documents back to the Bill of Sale;
  • Ensuring compliance to AML (Anti-Money Laundering) and KYC (Know Your Customer) policy;
  • Ensuring adherence to Information, Security and Policy Privacy Requirements.

2  Escalate all identified discrepancies by:

  • Identify issues and take corrective measures where the deal received for funding is not in compliance with the original approval:
  • Dollar value not within approval limits;
  • Down payment not equal to approval;
  • Interest rate incorrect;
  • Insurance conditions not met;
  • Registration fee not included;
  • Loan totals added incorrectly; and/or
  • Documents not properly signed;
  • Documentation discrepancies.
  • AML (Anti-Money Laundering) and KYC (Know Your Customer) Policies not met.
  • All above circumstances require that the Funder communicate with the dealer to make corrections to this information;.
  • Validation Officers can authorize Loan Documents with a differences as noted in the Retail Lending Bulletin
  • Taking action as directed and follow up all problem situations until resolved (through a BF system) with Lenders and Dealers to ensure correction and enable moving forward with funding.

3.  Ensures all lease-end values and expenses shown on lease documents are within Bank guidelines and meet the Bank’s contractual obligations to the Residual Value Insurer, normally without escalation to DFC Management, including:

  • Verifying the validity and accuracy of the following individual lease financial components that will impact the balance of the lease on the Bank’s books at the end of the term:
  • lease add-ons,
  • lease deductions,
  • vehicle model description,
  • low kilometre leases and adjustments,
  • excess kilometres paid up-front by category of car,
  • residual value determination,
  • security deposits paid or waived,
  • vehicle insurance coverages, deductibles and/or exceptions.
  • Escalating lease deals that are outside of Bank and/or Residual Value Insurer guidelines to the dealer; Operations Management or Retail Lending with recommendation for rectification and/or approval prior to funding as needed to control the monetary risk to the Bank.


4.  Performs all validation and funding activities related to approved Indirect Retail Loans and DVLP Leases received for funding by:

  • Where applicable verify payout and lien release requirements and prepare entries.


5  Provide a high standard of customer service by: 

  • Responding to requests for information / clarification from dealerships regarding documentation and funding situations in a professional and efficient manner;
  • Escalating more serious situations/problems to the appropriate officer, as needed for speedy and equitable resolution;
  • Maintaining a positive working relationship with Lending, Accounting and other DFC Staff in order to quickly and efficiently resolve issues/problems before they result in loss of a dealer’s retail business and negatively impacting the commercial business relationship.



The Ontario Dealer Finance Centre is located in Hamilton, Ontario.


  • University or College degree or in progress of completion
  • Sound knowledge of specific discipline relative to the business unit, e.g. documentation rules / guidelines;
  • Sound knowledge of automated systems and software packages relevant to the business;
  • Working knowledge of the Retail Lending and the relevant loan / lease credit policies, procedures, pricing and authorities;
  • Ability to focus on detail;
  • Ability to manage all Funding activities within established time and productivity targets, as set by Automotive Finance
  • Require to sit and work at computer for long periods of time.

Location(s):  Canada : Ontario : Hamilton 

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. 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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