Senior Manager, U.S. Leveraged Finance Credit Risk

Scotiabank Global Site•New York City, NY

About The Position

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Global Banking and Markets Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world. Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group. Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future! Purpose The position is responsible for managing U.S. Leveraged Finance and Non-Investment Grade credit risks, which may include, but is not limited to, the following industry groups: technology, healthcare, and general commercial & industrial. The candidate will: Provide support for the bank’s developing leveraged finance business that effectively balances the time-sensitive, urgent needs of individual deals and broader business considerations; Help refine and implement a U.S. leveraged finance credit risk management framework, including the bank’s risk appetite, to ensure that Scotiabank’s expansion into non-investment grade is conducted in a safe and sound manner; Assess proposed leveraged finance transactions and monitor the overall underwriting portfolio and the portfolio of held loans; and Report to Director, US Non-Investment Grade Credit Risk Management and will work closely with the U.S. Head of Non-Investment Grade Credit Risk, to present leveraged finance credit risk management considerations to senior management;

Requirements

In depth leveraged finance and non-investment grade credit risk expertise
Strong knowledge and understanding of US regulatory leveraged lending considerations and issues
Experience making timely, sound risk judgements, and succinctly communicating with senior management
Experience preparing and presenting leveraged finance and non-investment grade credit risk management issues to senior management
At least 5-7 years of progressively higher levels of credit risk related responsibility
The successful candidate will also be an excellent communicator and relationship builder who:
Understands how to bring the best out of his / her teams by complementing their existing skills
Has a strong proficiency in balancing 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.
The candidate must have a 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

Assess proposed non-investment grade financing transactions and monitor the overall underwriting portfolio and the portfolio of held loans.
Critically reviewing individual deals including but not limited to financial modeling/forecasting, reviewing EBITDA and adjustments, capital structure, syndication issues, and risk / reward tradeoffs and make credit decisions within delegated authority or recommendations to senior management regarding credit approvals and declines
Ensure that all credit adjudications and daily practices adhere to Bank policies and procedures.
Critically review and produce reports on the syndication book and aged underwritings 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
Partnering 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.
Driving a customer focused culture that deepens client relationships and leverages broader Bank relationships, systems and knowledge
Contribute to a team in a high-performance environment while fostering an inclusive work culture with effective and efficient operations of his/her 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.
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.
Assist with, internal audits, regulatory reviews, and projects.