Description
Requisition ID: 233822
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose
The Manager, Policy Adherence & Effectiveness (PAE) is a key role within the Policy Adherence & Effectiveness team of Business Risk Management (Canadian Banking).
The Manager, PAE conducts file reviews of funded credit and analysis of 5Cs of Credit and controls within Canada’s business portfolios. This role in particular will focus primarily on the Branch Business Banking and Private Banking Retail & Business Banking portfolios, with other potential portfolios coverage as needed.
The successful incumbent is expected to bring a high level of lending, operational and controls knowledge for the above listed portfolios, as well as regulatory awareness. The incumbent must be detail-oriented, able to conduct focused work, and also have strong communication, critical thinking, and perseverance skills. Strong knowledge of Excel, Word and Powerpoint is required.
Accountabilities
1. Loan File Review:
• Oversee/conduct reviews over an assigned portfolio of approved/funded credits to ensure applications are adjudicated in accordance with policy and regulatory requirements;
• Review and report on consistency of decisions and loans conditions, including the adherence to risk tolerances across lending units;
• Utilize internal documentation to conduct the review, such as Standard Operating Procedures, policy manuals, job aids, internal front-end platforms;
• Where decisions are made by an exception centre, review and report on the adherence to assigned limits & exception authorities, exception identification, quality of the decision, quality of the communication and ability to replicate the repayment capacity;
• Manage the file review within the establish timeframes and in accordance to the approved annual targets;
• Respond to adhoc requests from PAE or Internal Controls management for clarification, expansion of the scope of review, or any other change as directed;
• Maintain a strong knowledge of policies, process and regulation changes impacting the portfolios, as well as micro- and macro-economic indicators.
2. Problem Identification
• Identify and assess the materiality of control weaknesses, ensuring facts are gathered to support the issues;
• Identify the root causes of the issues;
• Quantify the impact of the issues on the portfolios, supported by adequate analytics to size up the impact;
• Negotiate findings with PAE management to gain concurrence of findings and next steps to bring the issues to the applicable stakeholders.
3. Formulation of Recommended Actions:
• Produce timely review findings in such a manner that all significant issues are documented in a format that can be actioned by the stakeholders;
• Formulate recommendations for policy or process enhancements and/or corrective actions, keeping in mind the Bank’s customers, to address the gaps or negative trends noted;
• Participate in presentations of findings with stakeholders, and help negotiate action plans and resolution dates with them, supported by your analysis to quantify the impact of the gap/trend;
• Follow up, when required, on the action plans with stakeholders and provide updates to PAE management.
4. Assessment of Corrective Actions:
• When required, participate in subsequent assessments to confirm the implementation of action plans addressed the initial gaps/trends in the previous reviews;
• When results indicate the gaps/trends are still present, negotiate with the stakeholders for updated action plans and resolution dates.
5. Support Internal Controls and other stakeholders as it relates to:
• Participate and lead other projects as they arise within the department, including emerging priorities;
• Collaborate with PAE’s analytics team to enhance automated processes, data accuracy and reporting requirements;
• Complete adhoc review requests that are assigned last minutes;
• Lead or participate in reviews conducted by Mortgage Insurers, Audit and Bank regulators (e.g. OSFI), supporting the department with various tasks prior, during and after their reviews;
• Lead by example in all employee and stakeholder communications to drive service delivery, better customer experience, and enhance relationship management.
Education / Experience / Other Information
A University degree in Business, Statistics or Auditing is required. A minimum of three or more years of progressive, relevant and practical experience with world class organizations, preferably with financial institutions, in credit / lending functions, and a proven track record of success in informed decision-making in the financial services sector.
The incumbent requires:
• Expert understanding of the 5Cs of credit in the retail & small business lending portfolios;
• Expert understanding of the lending processes, from the customer interaction, system decisions, exception approvals, various controls, condition fulfillment and funding process;
• Expert usage of Microsoft Office, particularly Excel, Word and Powerpoint;
• A strong understanding of the Bank’s delivery channels and centralized control units;
• The Manager must be extremely detail oriented, considering both quantitative and qualitative review objectives;
• Strong communication skills both oral and written;
• Thorough knowledge of the Bank’s organizational structure, in particular the three lines of defense;
• Thorough knowledge of regulatory requirements and the financial industry in Canada and aboard;
• Thorough knowledge of various bank adjudication platforms.
Working Conditions
• Work in a standard office-based environment; non-standard hours could occur as deadlines and schedule changes may arise due to unforeseen uncontrollable events.
• The position operates out of a downtown Toronto location, with some flexibility of working at home on occasion at Management discretion.
• The position is primarily non-physical with intermittent periods of sitting or standing. Limited movements of material (usually by lifting) may be required.
• Intermittent periods of concentration are required while working on video display terminals.
• The position requires a high degree of discretion pertaining to customer information.
• Limited travel domestically.
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.
