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

Scotiabank; Texas; On-site; USD 180,000 - 240,000; Full time

Job summary

Scotiabank, through Global Banking and Markets, seeks a Director to lead U.S. Specialty Finance credit risk. You will steer risk framework development, oversee deal reviews, and partner with regulatory and senior management to ensure sound risk practices across the U.S.

specialty finance portfolio. The role requires deep expertise in non-bank financials, strong communication skills, and a track record of building high-performing teams in a fast-paced environment.

Qualifications

• Deep expertise in specialty finance and non-bank credit risk.
• Strong knowledge of U.S. regulator lending considerations.
• Proven ability to make timely, sound risk judgements.
• Excellent communicator and relationship builder with senior management.

Responsibilities

• Refine US non-bank credit risk frameworks and risk appetite.
• Lead deal reviews from inception through approval with cash flow and capital structure diligence.
• Monitor specialty finance loan book and escalate issues.
• Align US strategy with risk appetite and culture across the bank.
• Develop a high-performance team through inclusive leadership.
• Present risk considerations to senior management and regulators.
• Support internal audits and regulatory reviews.

Skills

Specialty finance credit risk

Non-bank financials risk

Regulatory lending knowledge (US)

Communication & stakeholder mgmt

Education

Bachelor's degree in related discipline

Master's degree or professional designation (asset)

Job description

Requisition ID: 268086

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!

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

Purpose

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

• 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;
• 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; and
• Participate in specialty finance credit risk related discussions with Scotiabank’s U.S. regulators.

Accountabilities

• Participating 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 reviewing individual deals and independently leading 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;
• 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;
• Building a high-performance environment and implementing 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 vison/values/business strategy, and (3) managing succession and development planning for the team; and
• Creating 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.

Reporting Relationships

Primary Manager: MD, Head of Non-Investment Grade Credit Risk / Global Risk Management

Direct Reports: Specialty Finance credit analysts

Education / Experience / Other Information:

• 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; and
• At least 8-10 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 the Director’s team by complementing their existing skills
          • Has an 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.
• The candidate must have a Bachelor’s degree in a related discipline. A Master's degree, a recognized professional designation in a specialized area of finance or business, or equivalent, is an asset

Working Conditions

• Work in a standard office-based environment; non-standard hours are a common occurrence.
• Fast paced, quickly changing environment.
• Extended hours as needed to meet transaction deadlines.

What's in it for you?

Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

Location(s): United States : Texas : Dallas

At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture. If you require technical assistance, please click here.

Scotiabank is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by federal, state, or local law.