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Title:  Director, Commercial Mortgage Group

 

 

 

Requisition ID: 161112

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

 

 

Purpose

 

Provides direction, leadership and oversight for the National Mortgage Execution team for loans originating from Real Estate Banking and/or Commercial Distribution across Canada, ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures.

 

Accountabilities

 

  • Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

 

  • Contributes to the profitable development of the Commercial credit business for mortgage loans on a National basis by:
  • Overseeing and ensuring the Executions team's timely analysis, structure and presentation of credit and financial solutions proposals for the Real Estate Banking and/or Commercial Distribution segments, liaising with GRM throughout the process;
  • Providing guidance to the Origination teams and their respective Directors on credit structuring, negotiating and closing all aspects of the credit authorization including negotiations with GRM, and Lenders and Borrowers counsel;
  • Supporting the team (Senior CRMs, CRMs and CSAs and the Directors, (Origination) in negotiating syndicated transactions including terms, conditions, structure, security and pricing;
  • Restructuring marginal credit requests, where possible, to formulate a viable banking proposal within the constraints of sound credit granting, while keeping the Bank’s commitment to service levels;
  • Supporting recommendations on pricing of loans with due regard to profit and competitive considerations which yield returns commensurate with risk and the opportunity;
  • Participating in meetings with customers in problem solving and certain complex lending situations;
  • Contributing to business development initiatives by working with Directors, (Origination) and the teams in the development of qualified prospects and meeting with prospects and various Centres of Influence (COIs). (as applicable)
  • Ensuring any communications clearly convey the rationale for decisions in order to respond effectively to customers’ needs;
  • Maintaining ongoing relationships with law firms; COI’s and syndicate banks.

 

  • Contributes to the maintenance of an acceptable quality commercial credit mortgage portfolio, in conjunction with the Shared Services Business Service Centre / by:
  • Ensuring that an effective system of review and follow-up is maintained for all accounts within the assigned geographic area as reported through loan audits and OSFI reviews, and responding or taking action as appropriate, including alerting the VPs to unsatisfactory trends;
  • Ensuring all Credit Solutions accounts are properly and continually managed, monitored and reviewed to adhere to criteria laid down by the Bank’s adjudicating, auditing, and compliance organizations and external regulatory bodies;
  • Ensuring early identification of problem loans and ensuring the accuracy of risk ratings through identification of changes in account quality via review of industry/economic trends.
  • Recommending appropriate corrective action to minimize losses and maximize recoveries;
  • Ensuring all exception conditions as specified by the Bank’s adjudicating, auditing, and compliance organizations are met prior to the advancing of funds to or the use of account facilities by Customers;
  • Meeting with customers, lawyers, or receivers where necessary, to develop action plans;
  • Ensuring the accuracy of information reported to Executive Management and the Board.
  • Coordinating strategies with partners to address issues raised by Audit as well as Credit and Operational Risk policies;
  • Coordinating effective responses to new and existing audit and compliance issues and providing timely updates for outstanding action items;
  • Collaborating with Partners to identify effective courses of action, and following up to ensure actions taken will meet required resolution date(s);
  • Overseeing monitoring of compliance measurements and promptly identifying and addressing any deteriorations.

 

  • Contributes to the development of commercial credit policies and the strategic direction of the Commercial Bank, by:
  • Developing and recommending additions/revisions to commercial credit policies based on economic and industry trends;
  • Providing input to, or recommending for approval, changes with respect to credit documentation, credit programs/products and manual sections;
  • Implementing assigned projects to contribute to the operational effectiveness and success of the Commercial Bank;
  • Collaborating with Partners to maintain a current understanding of activities that may assist in developing strategies for compliance and/or revenue generation.

 

  • Directs day-to-day activities in a manner consistent with the Bank’s risk culture and the relevant risk appetite statement and limits. Communicates the Bank’s risk culture and risk appetite statement throughout their teams.

 

  • Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.

 

  • Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.
  • Overseeing the implementation of credit and risk management training programs for Commercial Trainees;
  • Organizing, developing and delivering training on credit processes to partners.

 

 

Primary Manager:  Vice President, Real Estate Banking

 

Direct Reports:  Associate Director, Associate and CSA

Over 15 individuals and growing

 

 

 

Dimensions:

 

 

  • Oversees credit for Real Estate Banking and/or Commercial Distribution across the country
  • Provides credit advisory services to Partners (as applicable)
  • Works with various partners across the Bank, including Corporate Banking, GRM, and Shared Services.
  • Reviews and completes credit authorizations up to $100MM with a high degree of complexity

 

 

Education / Experience / Other Information (include only those that are specific to the role)

 

  • Excellent knowledge of the business of financial intermediation and of the Bank’s commercial lending policies, procedures and practices.
  • Proven skills in balance sheet analysis, guarantor analysis, and requirements to underwrite mortgage loans (rent rolls, operating statements, real estate market research and trends) and risk assessment related to term mortgage loans and must thoroughly understand the complexities of numerous financing mechanisms (including understanding mortgage markets, MBS markets, secured/unsecured lending options, mortgage bonds, etc.), as well as security documentation, legal ramifications and remedies, and bankruptcy and insolvency implications.
  • Extensive knowledge of the real estate industry in which loans are granted is required, as is an up-to-date awareness of economic, technological, and social trends and legislative issues potentially impacting both banking policies, as well as customers’ businesses.
  • Good knowledge and understanding of competitor practices and products offered.
  • Superior and demonstrated coaching & communication skills to effectively manage a large team, a portion of which is often geographically dispersed.
  • Excellent knowledge of Commercial Banking products and services, including a working knowledge of the systems, routines and operating procedures
  • Superior  credit skills and sound judgement, as demonstrated through his/her previous track record and experience
  • Superior risk assessment and analytical skills
  • Superior accounting and financial analysis skills
  • Strong coaching skills
  • Good understanding of commercial management systems
  • Superior communication skills (oral & written)
  • Superior industry knowledge with areas of specialization where required
  • Undergraduate degree in business or economics or work equivalency.  Other training requirements as determined by the Bank from time to time.

 

Working Conditions

 

  • Work in a standard office-based environment; non-standard hours are a common occurrence. Frequent travel primarily domestically.

 

** Please note this is a 20 month maternity contract.

 

#IN-CB

 

 

 

Location(s):  Canada : Ontario : Toronto 

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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