Regional Director, Wealth Credit Structuring, GTA

Requisition ID: 216686

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Job Purpose:

Leads and oversees a Team of Credit Structuring & Lending experts in their designated Private Banking Region ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures.

The Regional Director, Credit Structuring is responsible for contributing to the achievement of defined goals for Private Banking through the profitable growth and the quality of the Private Banking non-retail loan portfolio by (a) overseeing the operation and delivery of Private Banking Credit Structuring, (b) ensuring deep discovery conversations with customers take place so that customer needs are properly understood and assessed, and customized unique lending solutions are properly structured, priced and negotiated, c) engaging in new business initiatives to expand accepted asset classes, accepted third party asset managers and market, d) coaching (Sr.) Credit Structuring Managers, and by (e) closely working with the RVP and Private Banking Team Leads. The incumbent will oversee the completion of complex lending transactions within a designated portfolio, geography and or adjudication channel. The role has responsibility for the achievements of their team, the team's overall financial objectives, and contributing to the assigned Region's overall financial objectives.

Through advanced knowledge of customized commercial and wealth lending, and risk management, the incumbent will oversee and direct the overall credit underwriting activity by developing the team's credit underwriting skills and acting as the Subject Matter Expert for Private Banking, as well as for the Bank. The incumbent works closely to maintain a strong and collaborative working relationship with Private Banking Team Leads, Private Bankers, GRM, Legal Counsel and Operations teams, ensuring the highest standard of client service, including efficient transaction execution in accordance with high net-worth client expectations.

Is this role right for you? In this role you will:

• Maintaining expert knowledge of complex lending solutions, credit products and policies, capital markets instruments, target client profiles and guiding (Sr.) Credit Structuring Manager(s)/Analyst(s) to proactively identify opportunities to apply these solutions
• Expanding the knowledge of (Sr.) Credit Structuring Manager(s)/Analyst(s) around borrowing strategies including leveraged investment portfolios, leveraged real estate portfolios and leveraged insurance strategies; customized lending structures for high net-worth clients; and enhancing (Sr.) Credit Structuring Manager(s)/Analyst(s) overall underwriting capabilities and credit productivity in order for them to identify opportunities and turn them into customized and profitable bankable deals
• Managing the team's timely analysis, negotiation, structure and presentation of lending solutions proposals
• Providing prompt and sound recommendations in the underwriting and adjudication of lending proposals
• Reviewing the quality of lending solutions and writings prepared by the (Sr.) Credit Structuring Manager(s)/Analyst(s) to the Private Banking Director and Team Lead or Primary Private Banker to ensure they clearly convey the rationale for decisions, so that they may respond effectively to clients
• Serving as the Subject Matter Expert to ensure (Sr.) Credit Structuring Manager(s)/Analyst(s) develop lending proposals that are properly analyzed, structured, negotiated, priced and presented with sound recommendations
• Providing guidance and direction in the recommendation of loan pricing and fees, yielding a return commensurate with risk, and due regard to complexity and uniqueness of the solution, overall value added to client, profit, administration and competitive considerations
• Oversee the recommendation of terms, conditions and covenants to provide a viable banking proposal to the client within sound lending parameters; restructuring marginal and/or complex proposals into bankable deals, where possible, often under considerable time constraints
• Act as resource for guidance, coaching and counsel to Private Banking Team Leads, and Private Bankers, as well as other business lines, so that they may better serve client needs.

Negotiates lending solutions with clients/partners/advisors

• Build trust and develop rapport with internal and external advisors to high net-worth clients
• Negotiate complex structures and documentation directly with counterparties on behalf of and in combination with Private Bankers given Subject Matter Expert role
• Liaise with internal and external Legal and Tax Counsel as well as Insurance advisors to ensure loan agreements and other bespoke documentation aligns with the risk appetite of the Bank and corresponding Global Risk Management approvals

Develops new, innovative lending solutions by:

• Evaluating and identifying product gaps and new business opportunities
• Contributing to the development of new lending solutions, including preparation of proposals to gain Global Risk Management approval for new offerings, asset classes eligible for leverage, partnerships with third party asset managers or changes to existing offerings/policies
• Working with risk, legal, compliance, operations and technology teams to implement new offerings and policies
• Maintaining an awareness of competitor offerings and of complex client needs
• Representing Private Banking on Global Wealth New Products Committee

Develops and implements improvements in credit processes and lending policy by:

• Representing Private Banking in discussions with Global Risk Management regarding process improvements and efficiencies for Private Banking loan adjudication in order to provide the level of service expected by high net-worth clients
• Identifying, developing and recommending additions/revisions to the Global Wealth Lending
• Guidelines based on economic, industry, competitive, portfolio trends, as well as growth opportunities, commensurate to the Bank's risk appetite
• Providing timely performance feedback on lending solutions developed by the (Sr.) Credit Structuring Manager(s)/Analyst(s) Business line's representative on the Data Governance working group to improve Wealth MIS capabilities
• Providing input into, or recommending for approval, changes with respect to credit documentation, credit programs/products and manual sections.

Provide strong team leadership to motivate and develop individual and team performance by:

• Leading, coaching, guiding, and motivating the team to exceed contributions toward defined goals, and ensure collaborative relationship with Private Banking teams
• Fostering and developing a strong, positive team environment, driving employee empowerment, innovation, and a high degree of engagement
• Attracting and retaining top talent
• Exhibiting an ability to listen, negotiate and communicate goals
• Sharing knowledge, experience, best practices, and responsibility with employees in a drive for the highest standards of professionalism and service excellence
• Establishing & monitoring performance objectives and measures, and providing timely performance (& non-performance) feedback with regards to roles, tasks, and expectations
• Effectively utilize and develop staff to fill the needs of Private Banking and longer-term requirements of the Bank; Ensure direct reports become knowledgeable in products, services, policies, and procedures.
• Conduct effective performance assessments and make sound recommendations for career development and that employee development is a priority for all employees on the team
• Regularly scheduling one-on-one coaching with direct reports
• Identifying and supporting training and developmental needs of team members
• Managing staffing requirements and departmental workloads

Contribute to the effective functioning of Private Banking by:

• Building effective working relationships across the team and with various business lines and corporate functions
• Facilitating a culture of open and honest communication by actively participating and contributing to touch bases, team meetings, encouraging the generation of ideas and approaches and actively sharing knowledge and experience to enhance the development of all team members
• Developing and executing a meaningful employee development plan

Overseeing the team's accurate communication of the terms and conditions of an authorization and
supervising the effective and timely implementation of same by:

• Reviewing all written authorizations to ensure accuracy, completeness, and clarity
• Managing team's processes for follow-up for acceptance of authorizations and reacting swiftly to any problems, amendments, and extensions, reported by team
• Promptly and effectively addressing issues surrounding the adequacy, quality and completeness of loan documentation and security
• Ensuring any required changes are actioned by the (Sr.) Credit Structuring
• Manager(s)/Analyst(s) and follow-up for the accurate execution and delivery of same prior to disbursement of funds

Managing the ongoing quality of the credit portfolio by:

• Monitoring the assigned Private Banking portfolio against risk and strategy parameters
• Ensuring that an effective system of review and follow-up is maintained for all accounts within the assigned portfolio
• Monitoring the quality of loan portfolio
• Overseeing the proactive identification of problem loans and recommending appropriate provisions to Global Risk Management to minimize potential losses
• Advising senior management of any credit weaknesses developing within individual accounts, by ongoing awareness and analysis of relevant financial, legal, political, technological, and industry information
• Recommending appropriate corrective action to minimize losses and maximize recoveries
• Directing (Sr.) Credit Structuring Manager(s)/Analyst(s) in the annual review process and detailing the evaluation of all information received for reporting purposes
• Monitoring and reviewing the management of credit within the segments and assigned portfolio, as reported through loan audits and OSFI reviews, and responding or taking action as appropriate, including alerting the MD, Wealth Credit Structuring to unsatisfactory trends
• Providing direction and support for unit audits and ensuring timely responses to any audit findings and sustainment of corrective activities
• Meeting with customers, lawyers, or receivers where necessary, to develop action plans
• Ensuring the team adheres to any regulatory and internal Bank policies including compliance requirements, such as assessment of Reputational and Suitability Risk
• Ensuring the team's adherence to the Bank's Anti-Money Laundering program, Know Your Customer requirements and Guidelines for Business Conduct, by reporting any unusual occurrences or fraudulent activities per established procedures
• Providing guidance on risk analysis, deal structuring, credit pricing, preparation of credit applications and client negotiations.
• Managing Credit Risk Strategy parameters such as credit portfolio quality, loss rates, and past due reviews

Do you have the skills to enable you to be successful in this role? We would love to work with you if you have:

• Must have 10 years of Managerial level Commercial Banking experience dealing with high net-worth clients and sophisticated financing requirements
• Strong coaching and leadership skills including previous people management experience
• Ability to recruit and retain top talent
• Strong change management skills and ability to adopt technology and reporting platform changes to support process improvements and general management improvements
• Proven strategic and tactical planning skills and proven ability to execute against the plan
• Ability to work collaboratively with other stakeholders for the benefit of the Bank's clients
• In-depth knowledge of the Bank's lending policies, practices and procedures, as well as an awareness of business trends economic, technological, social, legal and political conditions and factors which could affect the viability of a credit
• Thorough knowledge of Canada's financial services marketplace with a detailed knowledge of the regional marketplace and competitive position
• Expert knowledge and understanding of financial statements and accounting principles and policies, as well a solid understanding of capital markets instruments
• Strong verbal and written communication and negotiation skills are essential
• Expert understanding of the administration of credit, complex loan documentation and security provision requirements
• A high degree of flexibility is required to adapt to a wide variety of tasks and functions
• Advanced communication and influencing skills
• Must have a proficient understanding of tax, estate and financial planning and investment vehicles
• Must understand complex organizational structures including family trusts and holding companies
• The incumbent must have a good knowledge of the of the broad Wealth Management offering, including the services of Scotiatrust, Private Investment Counsel, ScotiaMcLeod, and should have familiarity with the Bank's International Wealth offering
• University degree in business, accounting or a related discipline required

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.