Senior Manager, Structured Credit

Requisition ID:

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

The Structured Credit and Funds Financing team is a growing, high performing unit consisting of top talent contributing to sound asset growth and profits of the Bank by ensuring all credit requests are properly analyzed and adjudicated, data validated, and effective recommendations are made facilitating decisions within reasonable/requested time frames. The team's coverage includes capital calls (subscription finance), regulated funds, pension funds, independent broker/dealers, central clearing counterparties, and collateralized loan obligation (CLO) warehouses. The team works closely with senior management and business line leaders and supports the business development process by providing advice/guidance to banking officers as it pertains to the complexities of deal structuring and formation.

We are looking for candidates at the Senior Manager Level who has sufficient working knowledge of CLO industry and will be responsible for facilitating credit adjudication of the CLO warehouse financing as well as the other NBFI portfolios described above. Experience with cash flow modelling and waterfall structures is considered a plus. Given a diverse range of risks in the portfolio and regular interaction with variety of internal contacts, you will benefit from an environment which fosters continuous learning and development and from an opportunity to make a positive contribution to the Bank as a credit expert.

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

• Operating in a team-based environment, you will adjudicate credit proposals for CLO warehouses, capital calls (subscription finance), investment funds, pension funds, independent broker/dealers, and central clearing counterparties.
• Ensure prompt and timely adjudication of credit applications and periodic/annual reviews to ensure that credit applications submitted to senior/executive management and to credit committee are analyzed accurately, support information is complete and sound recommendations are made in a concise form.
• Provide recommendations and participate in discussions in Senior Credit Committees.
• Ensure that new underwritings are in compliance with established guidelines and limits and provide rationale for exception, if necessary.
• Lead an annual industry review process and present to senior management as an industry champion of at least one industry covered by the team
• Provide high quality and timely advice & counsel service as a trusted advisor to business units globally.
• Ensure appropriate use of models and assignment of Borrower and Facility risk ratings in compliance with Bank guidelines and policy.
• Administer accounts and ensure the ongoing quality of the credit portfolio by keeping abreast of external developments (via review of industry/economic trends), Bank policies and procedures.
• Promote adequate governing process by ensuring the portfolio's trading exposures are maintained within the approved limit or addressed with appropriate corrective measures immediately.
• Ensure credit data is accurately maintained on a timely basis.
• Identify areas of process improvement and initiate projects in consultation with business partners and other stakeholders as relevant.
• Review documentation governing particular credit facilities as required.

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

• Bachelor's degree in Finance, Economics, Business administration or related field and 4+ years of experience in credit/ market risk analysis. Master's degree and/or completion of CFA/FRM/CAIA is considered an asset.
• Experience in Structured Products and CLO transactions, including experience with cash flow modelling and waterfall structures, is considered a strong asset. A comprehensive knowledge of financial services industries including investment funds, pension funds, broker/dealers and central clearing counterparties is required.
• Familiarity with the fund financing structures for non-bank financial industries such as capital calls and trading facilities (derivatives and securities financing transactions).
• An understanding of Bank lending policies and procedures, financial analysis, risk assessment techniques, credit structuring, collateral and security documentations. Ability to interpret credit agreements and trading documents including ISDA, CSA, GMRA among others is also required.
• Ability to keep up-to-date with new products and developments in financial services markets, particularly regulatory and legal developments.
• Ability to make decisions and present recommendations to senior management
• Effective communication and interpersonal skills are necessary for professional interactions with business partners and senior management to ensure a high level of credibility
• Excellent analytical, problem solving, self-management, organization and technical skills with attention to detail
• Strong coaching skill with dedication to progress towards the leadership position.
• Must be organized and be an effective decision maker to meet the demands of a high volume environment.

What's in it for you?

• The opportunity to join a forward-thinking and collaborative team, surrounded by innovative thinkers
• A rewarding career path with diverse opportunities for professional development
• Internal training to support your growth and enhance your skills
• An inclusive working environment that encourages creativity, curiosity, and celebrates success

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. 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.