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VP, Financial Management, Global Retail Credit Risk

4 months ago

Old Toronto, Canada Scotiabank Full time

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Please be advised that our Careers site will be unavailable from November 28 at 12am ET to November 29 12am ET for scheduled system maintenance. Title: VP, Financial Management, Global Retail Credit Risk

Requisition ID: 195409

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

The VP contributes directly to the credit quality of Scotiabank’s Canadian and International Retail credit portfolios. In coordination with the business lines, this role is accountable for providing an independent and informed view of the quantification and acceptability of retail credit risk exposures in the Bank through assisting in defining the Bank’s risk appetite for the retail platform and monitoring actual risk taking against this risk appetite.

The VP is responsible for determining the appropriate level of Allowance for Credit Losses (ACL) for the Canadian and International Retail portfolios using methodology that is compliant with current accounting standards in addition to providing leadership in the development of forecast and planning of Provisions for Credit Losses (PCL) for these portfolios.

The VP provides key leadership for development and delivery of reporting (monthly, quarterly) to multiple stakeholders on portfolio trends, issues, and relative inter-bank performance in delinquency, loan losses and other key risk metrics.

The VP has been identified to be a Data Steward in accordance with the strategy developed by the Enterprise Data Office. The Data Steward is the business owner of the data for their domain who provides oversight and governance for the data created. The Data Steward works closely and coordinates with members of their Domain Working Group to comply with the Bank’s Enterprise Data Management Policy Framework which consists of the Data Custodian, Data Architect, IT Application Owners, Process Owners and Data Users.

Major Accountabilities:

  • Evaluate the Allowance and Provision for Credit Losses in the context of; the risk appetite of the Bank; prevailing accounting standards and regulatory guidelines; and each business’ growth plans. Provide leadership in the research, development and implementation of required statistical models and provisioning methodologies to improve risk measurement, stay current with industry practice and satisfy evolving regulatory and accounting requirements.
  • Responsible for the oversight of Retail Credit Risk global reporting to Executives and the Board, including regular reporting (monthly, quarterly) for various executive departments, and annual management reports that analyze trends, issues, and relative inter-bank performance in delinquency and loan loss. Lead the development of best practice for identification of emerging trends and risks.
  • Provide leadership over the Retail & Small Business Credit Risk data governance initiatives. This includes leadership of or participation in data governance related projects, contributing to the alignment of a data governance framework which sets direction for data quality, monitoring and reporting. The incumbent must lead the work/provide oversight with technology groups across relevant business lines to ensure strategy, polices and system architecture align with OSFI Standards.
  • Develop and promote Scotiabank’s Retail credit risk management culture and staff, by sharing knowledge/experience and providing opportunities for staff to share responsibility for achieving business objectives/goals. Recruit high performing and high potential credit risk management candidates.

Education / Work Experience / Designations

  • Graduate University degree in business or economics
  • 10-15 years of relevant work experience
  • Provide strategic direction and leadership across a range of areas in Retail credit risk management in and outside Canada. The incumbent must be open-minded with a high degree of intellectual curiosity and a propensity to challenge the status quo to advocate creative/innovative solutions within credit risk management. The incumbent must have a strong, proven track record as a change agent.
  • In-depth understanding of: i) retail products and channels, and the markets in which Scotiabank operates; ii) predictive modeling theory combined with practical application in defining and justifying credit risk strategies based on statistical models and executed via automated systems; iii) collections policies/practices and strategies; iv) legislative and marketplace issues relative to credit risk management; v) loan loss provisioning and general reserves, economic and regulatory capital; and, vi) Basel II Capital Accord, SOX and IFRS.
  • Must possess project planning, financial management and effective resource management skills combined with superior decision-making skills. Exceptional analytical skills and the ability to design and interpret information/data required to monitor the performance of the retail credit functions are essential. The incumbent must have organizational know-how, strong interpersonal skills and influence in order to promote acceptance of new credit risk management methodologies and obtain commitment from others to facilitate the achievement of risk management goals and objectives. Strong negotiating skills and excellent oral/written communication skills are also essential.
  • Must be able to articulate their viewpoint/opinions to all levels within Scotiabank, domestically and internationally as well as, to senior executives. The incumbent must be able to represent Scotiabank on risk management issues in a multitude of external venues (e.g., government regulators, banking committees, external auditors, industry associations, credit risk forums/roundtables, etc.).
  • Building Strategic Relationships – the ability to build and maintain collaborative networks of strategic contacts, both internally and externally, with the specific intent of fostering teamwork and future opportunities and partnerships. It includes using these relationships to further both short and long-term business interests.
  • Strategic Influencing - Ability to convincingly persuade others, including individuals, groups, external stakeholders and markets for the benefit of the organization. Planning how best to win support, gain co-operation and overcome obstacles and barriers.
  • Strategic Thinking - Ability to understand and integrate the business environment into the organization's direction and goals. Well-developed awareness of the impact of global issues on strategies and choices. Emphasis on developing holistic, innovative, long-term business plans for the organization that takes into account people, processes, technology, strategy and global growth.
  • Spanish language and international experience are an asset
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. #J-18808-Ljbffr