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Title:  Regional Director, Credit Solutions, International Private Banking

 

 

 

Requisition ID: 151543

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

 

Purpose

Leads and oversees the IPB Credit Solutions function across the various distribution teams which include Offshore (Toronto), Pacific Alliance Countries (Mexico, Peru, Chile, Colombia), and CCAU Region (Bahamas, Cayman, Jamaica, Panama, Costa Rica). Provides guidance and direction for all aspects related to custom and pledge lending, such as business strategies, wealth lending guidelines, and risk appetite for retail products sold to wealth clients.

 

The Regional Director, Credit Solutions, International Private Banking is responsible for contributing to the profitable growth and the quality of the International Private Banking credit portfolios by overseeing the operation and delivery of credit solutions, ensuring credits are properly structured and negotiated, providing coaching to credit solutions staff, and supporting the International Private Banking Centre Directors. The incumbent will oversee the completion of complex lending transactions within the IPB footprint.

The Regional Director oversees the performance of the loan portfolios across the IPB footprint with special attention to metrics such as compliance with annual review submissions, margin calls remediation, profitability goals (pricing and Cost of Funds), portfolio quality (IG codes), provision methodologies, among others.

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

 

Accountabilities 

 

1.    Managing the completion of all Private Banking Credit Solution activities undertaken by offshore reports by:

  • Expanding the knowledge of (Sr.) Credit Solutions Manager(s) around 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 team’s timely analysis, structure, and presentation of credit / financial solutions proposals within Private Banking Centre(s)
  • Providing prompt and sound recommendations in the analysis and adjudication of credit proposals
  • Reviewing the quality of writings prepared by the Credit Solutions Portfolio Manager to the Director, PB or Primary Wealth Managers to ensure they clearly convey the rationale for decisions.
  • 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 on loan pricing and credit-related fees, administration, and competitive considerations
  • Oversee the recommendation of terms, conditions, and covenants to provide a viable banking proposal to the client with 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 a resource for guidance, coaching and counsel to Wealth Managers & Associates around issues related to credit, so that they may better serve clients' needs
  • Overseeing the team’s timely and accurate communication of the terms and conditions of an authorization and supervises the effective and prompt implementation of same

 

2.    Overseeing the completion of Private Banking Credit Solutions activities undertaken by PAC and CCAU countries by:

  • Providing guidance around credit structuring for complex transactions
  • Ensuring a proper socialization process takes place that involves all strategic partners and creates a path for success for the credit application
  • Sharing best practices across the region with the goal of creating an efficient credit process that is within the bank’s risk appetite 
  • Monitoring pricing strategies are put in place and that a risk reward approach is followed

 

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

  • Providing direct and indirect training and support to the IPB footprint teams involved in private wealth management, specifically lending
  • 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 International 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
  • Identifying and supporting training and developmental needs of team members
  • Managing staffing requirements and departmental workloads

 

4.    Develops new, innovative lending solutions, improvement of credit processes 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 in Toronto and in the countries throughout the credit decision-making process as well as on an ongoing basis to reflect the credit management and monitoring stages.
  • Representing International 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)
  • 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

 

5.    Oversees the healthy performance of the loan portfolios across all regions, by:

  • Monitoring and reporting of Annual Review threshold compliance
  • Monitoring margin call remediation 
  • Developing and monitoring a profitability/pricing strategy across wealth lending products
  • Ensuring a reasonable FTP is in place for the business
  • Close review of provisions and methodologies for non-retail loans including watch list management and negotiation of problem accounts with Special Accounts Management functions across key markets

  
Education / Experience 

  • Must have 10 years of Managerial level corporate, commercial underwriting or wealth structuring experience dealing with high net-worth clients and sophisticated financing requirements
  • 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 
  • Strong knowledge of the Bank’s footprint and strategy in Latin America
  • 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
  • Understanding of tax, estate and financial planning and investment vehicles across onshore and offshore markets would be an asset.
  • Must understand complex organizational structures including family trusts, personal investment vehicles and holding companies.
  • The incumbent must have a strong knowledge of the of the broad Wealth Management offering, including the services of ScotiaTrust, Scotia Asset Management, ScotiaMcLeod, Jarislowsky Fraser, and should have familiarity with the Bank's International Wealth Management offering
  • University degree in business, accounting or a related discipline required

 

Working Conditions
•    The incumbent works in a standard office environment.
•    Prompt and timely responses to credit applications are required to provide a high level of client service.
•    The incumbent has no control over the number of applications requiring analysis and adjudication/recommendation at any given time. Non-standard work hours are a regular occurrence.
•    Travel will be required from time to time to meet with clients/credit adjudication groups, to train staff and to negotiate terms and conditions of credit.
 

 

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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