Senior Manager, Country Oversight (Retail Credit Risk)
City : Toronto, ON, CA, M5H1B6
Category : Business and Financial Operations
Industry : Finance
Employer : Scotiabank
Requisition ID: 176342
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Senior Manager Country Oversight is responsible for risk management within established parameters, through effective governance and oversight, as well as the review of general strategy, initiatives, policies, processes to exercise good stewardship in the role in order to maximize the overall profitability of Scotiabank International, and its efforts to protect and build shareholder value.
An understanding of both traditional retail mass market as well as consumer and microfinance segments is an asset, to properly identify key success metrics and formulate effective risk management strategies. Specifically, the individual is responsible for the relationship with both country management, and local risk management along with the coordination and implementation of IB’s best risk management practices across the countries.
Relationships & Communications
- The Sr. Manager Country Oversight will establish a presence as Country subject matter expert to senior stakeholders and business leads, by managing internal relationship with local risk team, as central point of contact for local risk teams with GRM, while providing strong support and challenge where necessary.
- Cultivate and manage relationships with local risk teams and key internal stakeholders involved in credit origination/account management strategies, by interacting/liaising with other team members and teams within the Bank (Audit, Risk Technology, Collections & Fraud, Portfolio Analytics, Provisions and Banking)
- Liaise with the local risk team, local Banking and IB Banking team to determine strategic priorities and assess risks associated with new or enhanced retail products.
- Proactively drive and encourage communication of risk issues across businesses and geographies as well as with GRM colleagues and business partners.
- The jobholder must ensure all risks and appropriately assessed within all risk decisions processes and assess the customer impact in all risk activities.
- Keep abreast, of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology. This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring. Also the jobholder will address any areas of concern in conjunction with line management and/or the appropriate department.
- Identify, evaluate, review and oversee key performance indicators in support of credit origination/account management initiatives for the consumer portfolio seeking alignment with the Bank's risk appetite.
- Oversee deep analytical investigations to properly diagnose, document and report drivers of unexpected changes to risk within credit originations/account management of the portfolio. Communicate findings with stakeholders including future impacts to losses and proposed recommendations to Management.
- Apply observations/trend analysis and communicate to Management to identify risks and opportunities to the current business forecast, as applicable.
Credit Risk Initiatives
- Review of initiatives and portfolio management strategies by ensuring consistency in methodologies across sites and alignment to Risk Appetite Framework and Global Risk Policies.
- Influence business strategies where the risks are assessed as high and help to develop mitigating strategies.
- Responsible for analyzing and validating Countries’ initiatives designed to achieve business growth & loss mitigation goals by providing effective due diligence of retail credit risk initiatives for new account acquisitions or existing customer management channels, ensuring consistency and compliance with Global Risk Policies, and the Bank’s risk appetite.
- Support business initiatives without compromising standards of risk and internal control. The jobholder will liaise with businesses to foster the understanding and spirit of controls and ensure accurate and objective reporting to Senior Management.
- Analyze, and make recommendations and decisions to improve origination/account management and underwriting strategies, along with improvements to existing processes and procedures in a dynamic and fast paced environment.
- Maximize risk/return trade-off in new initiative by improving operational and credit processes, and effectively managing delinquency, and losses to profitably grow the business.
Governance & Best Practices
- Validate local originations, accounts management and collections policies and its compliance with established Global Risk Policies and make recommendations.
- Enforce risk appetite guidelines and implement metrics to monitor the portfolio and communicate to the business.
- Support local risk teams on addressing internal Audit and OSFI review topics.
- Identifies and executes well considered opportunities that will result in improvements or adaptations of business practices.
- Continuously benchmark of best practices across the region to find opportunities to standardize the credit approach across the region in order to drive benefits and close gaps accordingly.
- Proactively perform side-by-side analysis to compare strategies among sites and provide insight and recommendations to set the divisional standard for credit practices such as: Origination Strategies, Launch of New Products, Portfolio Segmentations and tracking and monitoring of recent initiatives implemented.
- Knowledgeable of the lifecycle credit process and policies and possesses a solid understanding of retail products, industry and market trends.
- Experience with loan origination systems, decision engines, and in designing strategies for new account origination and account management.
- Knowledgeable of credit data structure and its data point access to nurture analysis as required
- Knowledgeable of customer segmentation, credit scoring models, including behavioural, custom and credit bureau scores, marketing models (attrition/retention) and their respective validation process.
- Project management skills to prioritize and balance different priorities at the same time, with a proven track record of success in leading and implementing change in banking initiatives.
- A minimum of five years with a world class organization in the risk/portfolio management field, with a proven track record of success in leading and implementing change in the financial services sector.
- Self-driven individual ls are required in order to influence change.
- Graduate degree in Finance, Economics, Business or related field.
- Working knowledge of Marketing Analysis Models such as Attrition, Profitability, Retention, Collection Recovery, Customer Life Cycle.
- Exposure to the projection of delinquency rates, loan loss provisions and recoveries.
- Knowledge of risk management practices, to effectively challenge current practices and undergoing efforts.
- Strong financial analysis and written skills complemented with solid deductive reasoning, sound judgement and creativity.
- Strong negotiating and networking skills in conducting day to day activities.
- Fluency in both English and Spanish is mandatory.
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.