Senior Manager, Structured Credit Risk & Funds Financing

Scotiabank; Toronto; On-site; CAD 110,000 - 140,000; Full time

Benefits offered by this job

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Job summary

Scotiabank in Toronto seeks a Senior Manager to lead adjudication of subscription finance, CLO warehouses and related private capital funds risk. You will ensure rigorous credit analysis and timely, well-supported decisions for senior management and credit committees.

You will drive governance, data quality and process improvements, and collaborate with global business units to interpret credit agreements and financing structures.

Qualifications

• Bachelor’s degree in Finance, Economics, Business Administration or related field and 4+ years of experience in credit/market risk analysis. Master’s degree and/or completion of CFA/FRM/CAIA is considered an asset.
• Experience in subscription finance, structured products and CLO transactions is considered a strong asset. A comprehensive knowledge of financial services industry including investment funds, pension funds, broker/dealers and central clearing counterparties is required.
• Familiarity with the fund financing structures for non-bank financial industries such as subscription finance and trading facilities (derivatives and securities financing transactions).
• An expert understanding of Bank lending policies and procedures, financial analysis, risk assessment techniques, credit structuring, collateral and security documentation.Ability to interpret credit agreements and trading documents including ISDA, CSA, GMRA among others, is also required.
• Ability to keep up to date with new products and developments in financial services markets, particularly regulatory and legal developments.
• Ability to make decisions and present recommendations to senior management.
• Effective communication and interpersonal skills are necessary for professional interactions with business partners and senior management to ensure a high level of credibility.
• Excellent analytical, problem-solving, self-management, organization and technical skills with attention to detail.
• Strong coaching skills with dedication to progressing toward a leadership position.
• Must be organized and be an effective decision maker to meet the demands of a high-volume environment.

Responsibilities

• Adjudicate credit proposals for subscription finance and CLO warehouses; cover investment funds and pension funds.
• Ensure prompt adjudication of credit applications and reviews with complete information and sound recommendations.
• Provide recommendations and participate in Senior Credit Committees.
• Ensure new underwritings comply with guidelines and provide rationale for exceptions.
• Lead annual industry review and present to senior management.
• Provide high quality advice as a trusted advisor to global business units.
• Ensure credit data is maintained accurately and on time.
• Identify process improvements and initiate projects with partners and stakeholders.
• Review documentation governing credit facilities as required.

Skills

Credit risk analysis

Financial analysis

Decision making

Communication skills

Leadership potential

Education

Bachelor’s degree in Finance, Economics, Business Administration or related field

Master’s degree and/or CFA/FRM/CAIA asset

Job description

Title: Senior Manager, Structured Credit Risk & Funds Financing

Requisition ID: 273492

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

The Structured Credit and Funds Financing team is a growing, high-performing team consisting of top talent contributing to sound asset growth and profitability of the Bank by ensuring all credit requests are properly analyzed and adjudicated, data validated, and effective recommendations are made to facilitate decisions within reasonable/requested time frames. The team’s coverage includes subscription finance, collateralized loan obligation (CLO) warehouses, regulated funds, pension funds, independent broker/dealers, and central clearing counterparties. The team works closely with senior management and business line leaders and supports the business development process by providing advice/guidance to banking officers as it pertain to the complexities of deal structuring and formation.

We are looking for candidates at the Senior Manager/Manager level with sufficient working knowledge of private capital funds and the CLO industry and will be responsible for facilitating credit adjudication of subscription financing, CLO warehouse financing, and other NBFI portfolios. Given a diverse range of risks in the portfolio and regular interaction with a variety of internal contacts, you will benefit from an environment which fosters continuous learning and development and the opportunity to make a positive contribution to the Bank as a credit expert.

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

• Operate in a team-based environment, you will adjudicate credit proposals primarily for subscription finance, CLO warehouses while also covering investment funds, pension funds, independent broker/dealers, and central clearing counterparties.
• Ensure prompt and timely adjudication of credit applications and periodic/annual reviews to ensure that credit applications submitted to senior/executive management and to the credit committee are analyzed accurately, supporting information is complete and sound recommendations are made in a concise form.
• Provide recommendations and participate in discussions in Senior Credit Committees.
• Ensure that new underwritings are in compliance with established guidelines and limits and provide rationale for exceptions, if necessary.
• Lead the annual industry review process and present to senior management as an industry champion of at least one industry covered by the team.
• Provide high quality and timely advice and counsel as a trusted advisor to business units globally.
• Ensure appropriate use of models and assignment of Borrower and Facility risk ratings in compliance with Bank guidelines and policy.
• Administer accounts and ensure the ongoing quality of the credit portfolio by keeping abreast of external developments (via review of industry/economic trends), Bank policies and procedures.
• Promote an adequate governance process by ensuring the portfolio’s trading exposures are maintained within the approved limits or addressed with appropriate corrective measures immediately.
• Ensure credit data is accurately maintained on a timelybasis.
• Identify areas of process improvement and initiate projects in consultation with business partners and other stakeholders as relevant.
• Review documentation governing particular credit facilities as required.

Do you have the skills that will enable you to succeed in this role? We’d love to work with you if you have experience with:

• Bachelor’s degree in Finance, Economics, Business Administration or related field and 4+ years of experience in credit/market risk analysis. Master’s degree and/or completion of CFA/FRM/CAIA is considered an asset.
• Experience in subscription finance, structured products and CLO transactions is considered a strong asset. A comprehensive knowledge of financial services industry including investment funds, pension funds, broker/dealers and central clearing counterparties is required.
• Familiarity with the fund financing structures for non-bank financial industries such as subscription finance and trading facilities (derivatives and securities financing transactions).
• An expert understanding of Bank lending policies and procedures, financial analysis, risk assessment techniques, credit structuring, collateral and security documentation.Ability to interpret credit agreements and trading documents including ISDA, CSA, GMRA among others, is also required.
• Ability to keep up to date with new products and developments in financial services markets, particularly regulatory and legal developments.
• Ability to make decisions and present recommendations to senior management.
• Effective communication and interpersonal skills are necessary for professional interactions with business partners and senior management to ensure a high level of credibility.
• Excellent analytical, problem-solving, self-management, organization and technical skills with attention to detail.
• Strong coaching skills with dedication to progressing toward a leadership position.
• Must be organized and be an effective decision maker to meet the demands of a high-volume environment.

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package, performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

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 . 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.