Director, Collection Strategies LMTs & Backend

Scotiabank•Toronto, ON

10d•Onsite

About The Position

This role is responsible for driving Collections effectiveness by developing risk strategies, loss mitigation tools, and acting as a second line of defense ensuring collections policy adherence. The Director will lead the development, implementation, and monitoring of mid/late-stage collections risk strategies to minimize PCL and write-offs, and maximize recoveries while managing the client experience. This includes delivering on analytical projects, ensuring credit risks are understood and quantified, and collaborating with other teams for seamless collections effectiveness. The role also involves supporting and monitoring Loss Mitigation Tools (LMTs) across the value chain, continuous improvement of LMTs, and acting as a second line of defense for Collections operations. The Director will provide guidance on policy-related issues, lead initiatives to strengthen collections risk and operational effectiveness, and drive continuous improvement through a test/control framework, innovation, and automation. Additionally, the Director will lead a team of Sr. Managers/Managers, fostering a performance-driven culture, and developing strategic relationships within and outside the organization to stay aware of industry trends.

Requirements

A combination of formal education (preferably at the master’s level) and working experience equivalent to a minimum of 10 years of directly related experience is required.
Strong leadership skills to motivate both individual and team performance.
Strong communication and interpersonal skills with the ability to communicate complex topics in a simple to understand manner.
Strong problem solving and analytical skills to consider issues, opportunities and trends as well as develop and support business decisions.
Results driven individual with high level of curiosity and ability to dive into details without losing sight of the big picture.
Extensive Retail Banking and Small Business Lending experience with expert knowledge of Retail Credit products.
Strong proficiency in programming and database tools (SAS, SQL, Python) and analytical platforms (Power BI), along with experience in Angoss Knowledge Studio and FICO TRIAD.
Expert knowledge of debt recovery legislation, policies and practices across country and asset sales.
Exceptional organization skills to prioritize, manage, and implement a variety of competing initiatives, on a concurrent or staggered basis.

Responsibilities

Lead the development, implementation, and monitoring of mid/late-stage collections risk strategies.
Deliver on analytical projects that provide actionable insights to improve collection efforts and recoveries.
Ensure all credit risks associated with collections are understood and quantified.
Work closely with Early-Stage Collections Risk strategy team and LMT policy team for coordination of efforts.
Support the development, implementation, and lead the monitoring of all LMTs across the loss mitigation value chain.
Continuous improvement on all LMTs and optimize pre-approved LMTs.
Act as oversight and 2nd line of defence for Collections.
Provide oversight of collection efforts by developing performance reports and early warning triggers.
Articulate clear and compelling recommendations on complex subjects to senior management.
Provide guidance and direction to other teams regarding policy related issues.
Lead initiatives to strengthen the Collections risk and operational effectiveness and efficiency.
Drive continuous improvement in strategy effectiveness and existing processes under a test/control framework.
Streamlining and/or integrating automation and technology and continually challenging the ‘status quo’ through innovation.
Directing the development of system applications and workflow solutions.
Lead a team of Sr. Managers/Managers that will deliver on analytical projects.
Provide strong leadership to direct reports to motivate performance.
Foster a performance driven, customer-focused and results-oriented culture.
Recruit high-potential candidates and develop staff by coaching and leadership.
Developing strategic relationships within and/or outside the organization to manage change effectively and to maintain expertise and knowledge of industry.
Continue to be fully aware of industry trends and opportunities as related to technology, process and decision science.