Manager, Residual Value Risk
Found in: Talent CA C2 - 5 days ago
Description
Who We Are: Hyundai Capital Canada (HCCA) is the Canadian captive finance business for Hyundai Motor Group. We go to market under the service brands Hyundai Motor Finance, Kia Motors Finance and Genesis Finance. Through a network of over 400 Hyundai and Kia dealerships nationwide, we provide indirect vehicle financing and leasing solutions to consumers and commercial customers.
Employee Value Prop and Culture: Our employees contribute every day to a culture that is fast-paced, dynamic, energized, agile, and collaborative. From our various employee programs to the unique design of our offices, we strive to foster a connected, fun, positive and rewarding company culture where employees feel appreciated for their contributions, proud of their company, and passionately invested in HCCA's success.
Global One Company: Many countries. One identity. Hyundai Capital has offices across the world, including South Korea, the United States, China, the United Kingdom, Germany, Russia, and Brazil. Our work environments are designed with specific themes in mind to achieve a consistent global identity that reflects our values: simplicity, collaboration, elements of nature and symmetry.
Position Details: This position is responsible for managing HCCA’s residual value (RV) risk by measuring/monitoring losses and exposures for the lease portfolio, conducting root cause analysis, and driving change where necessary. They will act as a subject-matter expert by taking the lead on presenting current RV performance and providing insights on future expectations to internal and external stakeholders. In addition to this, they will work cross-functionally with various teams to prepare HCCA for future risks associated with a decline in used vehicle values. Some of the other key tasks this role will cover include preparing RV loss projections/simulations, managing the RV loss provision, maintaining the RV risk policies/procedures, monitoring market trends, supporting Sales initiatives, and exploring ways to improve the forecasting of used vehicle prices.
Duties & Responsibilities:
Residual Value Risk Monitoring & Forecasting
- Conduct monthly reporting and analysis of residual value trends and key performance indicators.
- Complete assessment of portfolio residual risk through mark-to-market data analysis, develop process and analytics to monitor forecasted residuals to actual performances (back-testing), prepare edition-over-edition comparisons of guidebook residual values, and determine implications on business strategy.
- Simulate RV loss under various market scenarios and establish RV Loss Mitigation Playbook in collaboration with Sales Planning, Remarketing, and OEM partners to develop action plans for deteriorating market conditions and outlook.
- Lead the forecasting and strategic planning process for all RV Risk related metrics, including the yearly operating plan, mid-month financial estimate, and mid-year financial estimate.
- Provide insight on and analyze the impact of auto industry trends that affect the lease portfolio at HCCA, with emphasis on used vehicle market trends, wholesale price movements, and growing EV/green vehicle segment.
- Investigate, collect, and analyze auto industry and economic information affecting residual values, including but not limited to, economic trends forecasts, new and used car markets, emerging technology, and competitor vehicles and sales.
- Liaise with the Sales Planning, Finance, and Operations departments at HCCA to ensure proper coordination on key topics related to RV Risk.
- Act as the main point of contact on all RV topics for both the Global and Regional Risk Teams
2. Provision and Pricing Model Development & Maintenance
- Complete assessment of RV risk at origination through Loss-on-Disposal (LOD) analysis. Manage periodic update of LOD calculation for pricing assumptions. Develop adequate LOD assumptions on new vehicle launches where no historical data exists. Review and analyze implications of residual risk on product and pricing proposals.
- Monitor monthly movements in the RV risk provision and evaluate reserve adequacy on a regular cadence. Refresh the provision assumptions on a yearly basis, or sooner if external indicators suggest an update is needed.
- Work with the Finance and Global/Regional Risk Teams to ensure provision assumptions are valid, and secure approval from the Risk Control Committee (RCC) on all RV related items affecting the company’s P&L statement.
- Liaise with external auditors to ensure provision models are properly governed and adhere to the relevant accounting standards.
3. Lease Product Development
- Collaborate with the Sales Planning team to assist in continuing to refine the Lease product. Support initiatives to help capture market share and increase retention, including the periodic launch of new vehicle models.
- Manage the Residual Value Setting Policy and identify potential enhancements to the current policy where needed. Monitor the used vehicle forecasts provided by the guidebooks and develop insights on key residual value trends, including the impacts on lease program competitiveness.
- Support EV and Mobility topics from an RV Risk perspective.
Qualifications
· 5+ years of experience in risk management or related functions within the financial services industry
· 5+ years related auto finance/captive finance/bank industry experience
· Residual Risk Management experience is highly preferred
· Bachelor’s degree in Business Administration, Mathematics, Economics, Operations Research, Statistics, Computer Science or related quantitative experience
· Strong analytical, critical thinking, problem solving, and decision-making skills with a good eye for detail
· Solid oral and written communication skills with the ability to negotiate and explain complex topics concisely
· Effective organization and prioritization skills to manage multiple priorities effectively
· Ability to understand Risk business metrics/KPIs/objectives and their relationship to the importance of individual projects
· Awareness of the principles of effective project management, risk mitigation, risk management and governance
· Strong PC skills: Excel, Word, PowerPoint, SAS, SQL, Microsoft Access, and relational database concepts
Hyundai Capital Canada Inc. is committed to acknowledge applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.
Primary Location
:Canada-Ontario-Toronto
Job
:Risk
Job Type
:Regular
Overtime Status
:Exempt
Schedule
:Full-time
Job Posting
:Feb 8, 2024environment.-
Manager, Residual Value Risk
4 days ago
Old Toronto, Canada Hyundai Capital Full timeJob Description Manager, Residual Value Risk - ( 24000034 ) Description Who We Are: Hyundai Capital Canada (HCCA) is the Canadian captive finance business for Hyundai Motor Group. We go to market under the service brands Hyundai Motor Finance, Kia Motors Finance and Genesis Finance. Through a network of over 400 Hyundai and Kia dealerships...
-
Manager, Residual Value Risk
2 weeks ago
Old Toronto, Canada Hyundai Capital Full timeJob Description Manager, Residual Value Risk - ( 24000034 ) Description Who We Are: Hyundai Capital Canada (HCCA) is the Canadian captive finance business for Hyundai Motor Group. We go to market under the service brands Hyundai Motor Finance, Kia Motors Finance and Genesis Finance. Through a network of over 400 Hyundai and Kia dealerships...
-
Manager, Residual Value Risk
5 days ago
Old Toronto, Canada Hyundai Capital Full timeJob Description Manager, Residual Value Risk - ( 24000034 ) Description Who We Are: Hyundai Capital Canada (HCCA) is the Canadian captive finance business for Hyundai Motor Group. We go to market under the service brands Hyundai Motor Finance, Kia Motors Finance and Genesis Finance. Through a network of over 400 Hyundai and Kia dealerships...
-
Manager, Residual Value Risk
Found in: Jooble CA O C2 - 7 days ago
Toronto, ON, Canada Hyundai Capital Full timeJob Description Manager, Residual Value Risk - ( 24000034 ) Description Who We Are: Hyundai Capital Canada (HCCA) is the Canadian captive finance business for Hyundai Motor Group. We go to market under the service brands Hyundai Motor Finance, Kia Motors Finance and Genesis Finance. Through a network of over 400 Hyundai and Kia dealerships nationwide,...
-
Manager Business Analysis Market Risk
Found in: Jooble CA O C2 - 7 days ago
Toronto, ON, Canada Hyundai Capital Full timeManager, Residual Value Risk - ( 24000034 ) Who We Are: Hyundai Capital Canada (HCCA) is the Canadian captive finance business for Hyundai Motor Group. We go to market under the service brands Hyundai Motor Finance, Kia Motors Finance and Genesis Finance. Through a network of over 400 Hyundai and Kia dealerships nationwide, we provide indirect vehicle...
-
Specialist Risk Management
Found in: Jooble CA O C2 - 3 days ago
Toronto, ON, Canada Bfl Canada Risk And Insurance Full timeWe support our employees to shape their career by encouraging continuing education and investing in training and development. We put our employees at the center of what we do to allow them to grow personally and professionally, with projects and challenges that are motivating and rewarding. We inspire people to do what they are passionate about by...
-
Director, Operational Risk, Digital Banking
Found in: Talent CA C2 - 5 days ago
Toronto, Canada Equitable Bank Full timeActivities in support of the Digital BankProvide risk advice to business units to enhance the management of risk, including advising on risk mitigation strategies 2 Liaise with Risk Advisory subject matter experts across the Bank to ensure all risks are appropriately identified and mitigated. Design, optimize and document controls including influencing peers...
-
National Operations Coordinator, Value and Risk Advisory
Found in: Talent CA C2 - 7 days ago
Toronto, Canada JLL Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology to our clients. We are committed to hiring the best, most talented people in our industry; and we support them through professional growth, flexibility, and...
-
Old Toronto, Canada JLL Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world-class services, advisory, and technology for our clients. We are committed to hiring the best, most talented people in our industry, and we support them through professional growth, flexibility, and...
-
Old Toronto, Canada JLL Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world-class services, advisory, and technology for our clients. We are committed to hiring the best, most talented people in our industry, and we support them through professional growth, flexibility, and...
-
Old Toronto, Canada JLL Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world-class services, advisory, and technology for our clients. We are committed to hiring the best, most talented people in our industry, and we support them through professional growth, flexibility, and...
-
National Operations Coordinator, Value and Risk Advisory
Found in: Jooble CA O C2 - 5 days ago
Toronto, ON, Canada JLL Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world-class services, advisory, and technology for our clients. We are committed to hiring the best, most talented people in our industry, and we support them through professional growth, flexibility, and...
-
Portfolio Value Manager
5 days ago
Toronto, Canada HomeEquity Bank Full timeWHO WE ARE HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse...
-
Old Toronto, Canada Jones Lang LaSalle Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology to our clients. We are committed to hiring the best, most talented people in our industry; and we support them through professional growth, flexibility, and...
-
Old Toronto, Canada Jones Lang LaSalle Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology to our clients. We are committed to hiring the best, most talented people in our industry; and we support them through professional growth, flexibility, and...
-
Old Toronto, Canada Jones Lang LaSalle Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology to our clients. We are committed to hiring the best, most talented people in our industry; and we support them through professional growth, flexibility, and...
-
National Operations Coordinator, Value and Risk Advisory
Found in: Jooble CA O C2 - 5 days ago
Toronto, ON, Canada Jones Lang LaSalle Full timeJLL supports the Whole You, personally and professionally. Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology to our clients. We are committed to hiring the best, most talented people in our industry; and we support them through professional growth, flexibility, and...
-
Manager, Technology Risk
6 days ago
Toronto, Canada Canada Life Assurance Company Full time**Job Description**: We are looking for a **Manager, Technology Risk.** Technology redefines the way we work and deliver to meet business needs and elevate the customer experience. You’ll be part of an organization that is embracing modern technology, innovation, and agile ways of working. As part of the 2nd line of defense, you will work with a team of...
-
Actuary, Risk Management
5 days ago
Toronto, Canada IVARI Full time**Welcome to** **_ivari_** Let us introduce ourselves. With 300 employees across Canada, _ ivari_ is a company that’s making a difference in the world of life insurance. How? By finding and hiring employees who are passionate about helping people protect their families, and by giving them the best, most supportive workplace possible. At _ivari_,...
-
Risk Manager, Operational Risk
5 days ago
Toronto, Canada TD Bank Full time406866BR Risk Management Toronto, ON April 25, 2023 Company Overview Department Overview As an independent team within the Risk Management group, Operational Resilience works with business units and corporate partners to ensure ongoing management of operational risks across TD Bank Group. TDBG applies the “Three Lines of Defense” model to risk...
