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Manager, Automotive Credit Strategies

1 month ago

Toronto, Canada Scotiabank Full time

Requisition ID: 208961

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

The mandate of this role is to oversee the acquisition credit risk strategies and policy for the Automotive portfolio to optimize risk/return within Global Risk Management to meet Canadian Banking strategic priorities.

In this role, you will develop and monitor key performance indicators of the portfolio scrutinized through different lenses. You will use in-depth portfolio insights to develop through-the-door adjudication strategies or recommend policy changes for various segments and programs to maximize risk adjusted return while managing portfolio PCL under the current highly fluid credit market. This includes various stages of strategy development: identify opportunities through data driven analytics, leverage champion/challenger capabilities to confirm previous assumptions and forecast financial outcome of strategies, propose changes through rigorous business framework in place, implement the change with technology teams, perform post implementation validations, track performance to validate forecast and reinvent upon iterations.

The incumbent will work in close collaboration with our risk technology partners to ensure credit strategies are implemented without production defect and along with business line partners to ensure business strategies are consistent with the Risk Appetite Framework.

Is this role right for you? In this role, you will be responsible for:

  • Strategy Development & Implementation
    • Developing credit risk strategies for Automotive finance portfolio, leveraging a data driven approach to approve credit, set credit limit, and recommending risk adjusted pricing
    • Ensuring successful implementation of strategy changes within the adjudication engine and performing post implementation validation
    • Ensuring the design of development process adheres to regulatory and governance requirements.

      • Portfolio Analytics and Oversight
        • Using a variety of Business Intelligence analytical and reporting tools (ex. SAS, SQL, Python, Power BI, Tableau) to provide dynamic reporting on key performance metrics to various stakeholders in GRM and business lines
        • Maintaining performance monitoring on new accounts acquired through different channels and special programs; ensuring performance align with targets, explain discrepancies/ emerging trends that may impact portfolio health (short term and long term)
        • Analyzing strategy effectiveness and proactively identifying if any risk segments are or will impact provisioning estimates as vintages mature
        • Identifying opportunities and propose innovative risk strategies with focus on risk/return, asset-based lending with building a robust and competitive portfolio in mind
        • Reviewing and conducting analysis of existing policy and procedures to identify, promote and lead opportunities to maintain credit quality, improve efficiency and effectiveness of originations procedures including streamlining, automating, and standardization; recommending changes to enhance performance and overall customer experience.

          • Automotive Financing Competitive Landscape
            • Staying informed of competitive landscape, partnering with the business line to ensure that as risk managers our processes, strategies and policies consider the changing landscape.
            • Developing and maintaining relationships with external business partners (e.g., OEMs, credit bureaus and dealer portals) and similar position contacts in other financial institutions.

              • Support Business Line Initiatives/projects
                • Ensuring all business line strategic projects (i.e., new product launches, changes to existing product offerings, new channels, new acquisition framework) are consistent with Risk Appetite Framework. Recommending changes to business line strategies to ensure the Bank does not take on more credit risk than planned
                • Representing Risk's point of view and liaise with the stakeholders (operations, product owners, collections, technology, governance) throughout the organization to listen actively, communicate, and explain risk measures clearly and as appropriate identify, evaluate, and address credit risk that arises from the development, deployment, interpretation, and maintenance of Credit Risk Policy in support of new products/program development, portfolio performance issues, product enhancements, changes to the industry and regulatory landscape, and business operations
                • Supporting GRM effective challenge function, ensuring Credit Risk Proposals are supported with strong financial and quantitative analysis, credit risks are effectively assessed and measured. Conducting in-depth analysis on special programs, support policy enhancement
                • Preparing and assessing credit risk proposals and providing Senior Management with sound recommendations for changes to core policies, regulations and major business initiatives and portfolio level decisions that require GRM's authorization. This includes assessment of new program/product, new pilots or pilot extension or program renewals, etc.
                • Supporting investigations and solutioning for questions/findings from OSFI and Internal Audit in an appropriate /acceptable timeframe.

                  Do you have the skills that will enable you to succeed? We'd love to work with you if you have:

                  • A university degree in relevant STEM discipline (Science, Technology, Engineering and Mathematics) or a Master degree in business, statistics, economics, mathematics, management sciences or analytics
                  • A minimum of three years with an organization focused on improving the customer experience and automating processes, with a proven track record using analytical tools to conduct data analysis and generate business insights
                  • Proficiency in programming and/or database programs (SAS, JAVA, SQL, R, Hadoop, Python)
                  • Strong personal time management skills and curiosity to learn, explore, and discover is a must
                  • Excellent communication and written skills complemented with analytical & problem-solving skills consistent with the ability to identify key issues from a broad range of alternatives as well as recommend optimal solutions for various situations
                  • Knowledge of credit bureau reporting, credit scoring and risk assessment as well as portfolio management and behaviour scoring to maximize the effectiveness of existing technology in providing competitive and effective policies that respond to the credit needs of our customers
                  • Prior experience in a retail lending environment or credit risk management is preferred

                    What's in it for you?

                    • An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success
                    • We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one
                    • Your career matters You will have access to career development and progression opportunities.

                      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.