Manager, Work Out

4 weeks ago

North York, Canada Scotiabank Full time

Requisition ID: 168499

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

The Manager, Work Out is responsible for providing quality decisions to minimize potential loan losses and improve profitability from an assigned portfolio of small business customer relationships assigned to the Unit. These relationships typically are higher risk, unsatisfactory or non-performing and members of the team are required to adhere to the Bank’s Scotia Service and Complaints Resolution Standards while providing timely and cost effective solutions that reflect the high quality of service expected from a Service Centre of Excellence. The incumbent has direct contact with both internal and external customers of the Bank. He/she works with the management team to identify and implement changes to the SAC Process Manual and share best practices and successful strategies with the other teams.

**What your role will be**:
**Provide quality decisions to minimize losses and improve profitability on accounts assigned** **to the SAC by**:

- Effectively analyzing problem loan situations and contacting customers to diagnose type and cause of default which exposes the Bank to higher risk.
- Determining, through probing questions, the cause of offside conditions.
- Establishing a reasonable time frame, based on the facts obtained, to expect the customer to bring payments current and follow for the payments or take action to cure defaults
- Preparing or directing the preparation of credit authorizations and exercising sound credit judgement based on thorough investigations and analysis.
- Granting, renewing, declining or restructuring credit requests within specified lending limits and making recommendations to higher lending authorities for loans over these limits.
- Ensuring accounts adhere to the conditions of authorizations and other Bank regulations, and promptly identifying and resolving deviations, including overdrafts, arrears and security documentation.
- Completing and registering required collateral security documents accurately and on time or ensuring this takes place.
- Keeping abreast of changes in accounting practices, government and tax regulations, and other factors as they relate to financial statement presentation.
- Improving the profitability of higher risk accounts by collecting appropriate fees and/or increasing rates of interest commiserate with risk.

**Provide customer service meeting Bank standards and retain and increase the overall profitability of assigned customer relationships by**:

- Providing guidance and counsel to SAC customers through consistent and proactive communication.
- Ensuring external customers’ concerns/issues are dealt with in a timely, fair, and equitable manner with efforts made to meet the best interests of the Bank and the customer.

**Contribute to the effective management of the Centre by**:

- Effectively communicating and implementing changes.
- Timely escalation of issues/obstacles/trends to the Senior Manager, Work Out and/or Senior Manager Unit Leader as appropriate with recommendations/solutions.
- Ensuring the Centre complies with all applicable legal and regulatory requirements
- Investigating and escalating with recommendations any opportunities to improve operational effectiveness
- Monitoring collection activity and overall team performance through periodic reviews of team members’ portfolios to ensure performance standards ie volume/productivity, service standards appropriateness of action plans for resolution of individual accounts and portfolio management are maintained.

**Develop and maintain sound commercial banking management practices by**:

- Providing guidance and counsel on corrective action to line management in Branches, Risk Management and ACE, CRU, NCC, Security and Investigation, SSG, Private Banking for accounts assigned or others as requested.

**Skills you already have**:

- Expert problem solving, conflict resolution/management, mediation and negotiation skills, to restructure credits and implement pricing increases and fees under adverse conditions
- Team focus - working effectively with others to achieve common objectives
- Excellent communication skills (written and verbal) to communicate effectively with internal and external customers, and other partners i.e. NCC, ACE, CRU, Shared Services, Office of the President, Lending Support.
- Coaching - providing guidance, support and feedback to others to improve their performance. Clarifying job functions and responsibilities. Fostering on an individual basis, the learning and development of others. Exhibit a genuine intent to develop others
- Solid knowledge of all issues pertaining to regulatory compliance i.e. Privacy Code, Basel, SOX, Bank Act AML
- Thorough understanding of banking and an expert knowledge of the Bank’s Small Business/Retail Lending Policies and Procedures
- Thorough understanding of the legal process relating to commercial

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