Credit Officer

Scotiabank • Toronto, ON

1d • Onsite

About The Position

The Credit Officer contributes to the overall success of the Credit/Risk, Account Maintenance and Financial of Canadian Wealth Management ensuring specific individual goals, plans and initiatives are executed/delivered in support of the team’s business strategies and objectives. They ensure all activities are conducted in compliance with governing regulations, internal policies, and procedures.

Requirements

• A minimum of 3 to 5 years’ relevant investment industry experience, preferably with an CIRO member firm, in a relevant functional area (e.g., trading, operations, sales, audit)
• College Diploma or University Degree
• Successful completion of the following Canadian Securities Institute (CSI) securities industry courses: Canadian Securities Course (CSC), Conduct and Practices Handbook Course (CPH), Derivative Fundamentals Course, Options Licensing Course is preferred
• Licensed as an Investment Representative with Options is an asset
• Expert level market knowledge to decide how to proceed with account issues
• Expert level knowledge of policies and procedures for decision making and education of support areas
• Working to expert PC knowledge of the following: Versapath (BTS061,191), Thomson One, Bloomberg, OnDemand, MS Office (Outlook, Excel, Access, Word)
• Effective people skills to diffuse difficult situations and solve problems in a calm and rational manner
• Tact, diplomacy, and creativity to deal with internal and external clients, to positively influence the client to settle their debts
• Excellent time management and teamwork skills to accurately accomplish specific tasks within strict deadlines
• Effective verbal and written communication skills
• Strong analytical skills, sound business judgment, and creativity

Responsibilities

• Generate, modify, and interpret various reports to identify accounts that pose credit and market risk to the firm, as well as violate industry and firm policies. Once identified, accounts are analyzed and corrective action such as contacting clients, contacting internal departments and front office staff, placing trades in accounts, etc.is taken to reduce or eliminate risk and ensure firm and industry compliance
• Answer inquiries, explain policies and procedures, approve orders above set limits, update relevant information, and provide guidance to Advisors & Assistants and various internal departments
• Implement and remove trading and banking restrictions in margin, cash, and registered accounts, based on a thorough analysis of the account and trading patterns and activity
• Monitor market activity for security price fluctuations and evaluate accounts holding the position, taking any corrective action as necessary
• Liquidate and purchase securities as required
• Approve and update debit limits for margin accounts less than $500K and cash withdrawals from cash and margin accounts
• Identify and update securities with incorrect loan values in multiple systems and applications
• Complete sundry duties as assigned including compiling and preparing statistics and internal reports, as well as monthly and year end capital requirement reports (regulatory reporting)
• Investigate non-routine problems and discrepancies to determine risk and exposure, and make decisions to minimize financial impact, protect the firm’s reputation, and prevent litigation

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree