Director, U.S. Specialty Finance Credit Risk / Global Risk Management

Scotiabank•Dallas, TX

7d•Onsite

About The Position

The position is responsible for managing U.S. Specialty Finance Credit Risk, which may include, but is not limited to, the following sectors: financial technology, non-bank lending, asset management and market structure. The candidate will provide risk leadership for the bank’s U.S. Specialty Finance business that effectively balances the time-sensitive, urgent needs of individual deals and broader business considerations. They will help refine and implement a U.S. Specialty Finance credit risk management framework, including the bank’s risk appetite, to ensure that Scotiabank’s expansion of financial institution lending into non-investment grade is conducted in a safe and sound manner. The candidate will assess proposed specialty finance company transactions and monitor the overall underwriting portfolio and the portfolio of held loans. The candidate will report to MD, Head of Non-Investment Grade Credit Risk and will work closely with the U.S. Head of Credit Risk, and the U.S. Chief Risk Officer, to present specialty finance credit risk management considerations to senior management. They will also participate in specialty finance credit risk related discussions with Scotiabank’s U.S. regulators.

Requirements

In depth specialty finance and non-bank financials credit risk expertise.
Expert knowledge and understanding of U.S. bank regulator lending considerations and issues.
Experience making timely, sound risk judgements, and succinctly communicating with senior management.
Experience preparing and presenting non-bank financial company credit risk management issues to senior management.
At least 8-10 years of progressively higher levels of credit risk related responsibility.
Excellent communicator and relationship builder.
Understands how to bring the best out of the Director’s team by complementing their existing skills.
Expert ability to balance competing or conflicting goals of various departments / countries / stakeholders via adopting a mature, diplomatic approach and using highly developed negotiation and influencing skills.
Effectively liaises with key internal stakeholders, industry participants, and regulatory bodies.
Bachelor’s degree in a related discipline.

Nice To Haves

A Master's degree, a recognized professional designation in a specialized area of finance or business, or equivalent, is an asset.

Responsibilities

Provide risk leadership for the bank’s U.S. Specialty Finance business that effectively balances the time-sensitive, urgent needs of individual deals and broader business considerations.
Help refine and implement a U.S. Specialty Finance credit risk management framework, including the bank’s risk appetite, to ensure that Scotiabank’s expansion of financial institution lending into non-investment grade is conducted in a safe and sound manner.
Assess proposed specialty finance company transactions and monitor the overall underwriting portfolio and the portfolio of held loans.
Report to MD, Head of Non-Investment Grade Credit Risk and work closely with the U.S. Head of Credit Risk, and the U.S. Chief Risk Officer, to present specialty finance credit risk management considerations to senior management.
Participate in specialty finance credit risk related discussions with Scotiabank’s U.S. regulators.
Participate in the refinement and maintenance of U.S. non-bank credit risk frameworks and risk appetite statements that are aligned with industry standards and local regulatory expectations.
Critically review individual deals and independently lead the deal process from inception through approval. This includes review and diligence of the forecast cash flow / EBITDA and adjustments, capital structure, syndication issues, and risk / reward tradeoffs and making credit decisions within delegated authority or recommendations to senior management regarding credit approvals and declines.
Critically review and produce reports on the specialty finance loan book to ensure the bank’s portfolio is aligned with its risk appetite and / or identify issues for escalation to senior management and the Board of Directors.
Partner with the business to ensure day-to-day business activities are conducted within the bank’s risk appetite and to manage the alignment of the bank’s U.S. strategy, risk appetite and risk culture.
Drive a customer focused culture that deepens client relationships and leverages broader Bank relationships, systems and knowledge.
Build a high-performance environment and implement a people strategy that attracts, retains, develops, and motivates their team by (1) fostering an inclusive work environment and using a coaching mindset and behaviors, (2) communicating vision/values/business strategy, and (3) managing succession and development planning for the team.
Create an environment in which the candidate’s team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values, its Code of Conduct and other policies.
Assist in the training and development of junior members of team, which includes putting direct reports in situations where they can present transactions and gain visibility within the organization.
Effectively communicate with senior management, head office and the relevant Risk Committees to ensure proper risk management and sound corporate governance across the SBUS operations.
Represent U.S. CRM at Senior Credit Committee including presentation of credit transactions and reviews from assigned portfolio.
Participate in, and assist with, internal audits, regulatory reviews, and projects.