Job Description

Requisition ID: 235798



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



The Director & Head, Credit Risk at Tangerine provides strategic direction, leadership, and oversight for Tangerine Retail Risk Portfolio Management & Credit Strategies across the lifecycle, ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies, and procedures.


The incumbent leads a team responsible for maintaining the design and effectiveness of the credit risk framework at Tangerine Bank. It includes the development, assessment, implementation and monitoring of credit risk strategies, policies, controls, and procedures across the customer lifecycle for Tangerine secured and unsecured lending products (Mortgages, Home Equity Lines of Credit, Credit Cards, Unsecured Lines of Credit, Installment Loans and Overdraft Protection).



The Director & Head, Credit Risk will ensure all new approved credit exposures are aligned with risk appetite and shall operate within their delegated lending authority limits, in accordance with the enterprise risk management framework.



The role has key accountability to provide effective challenge and independent oversight of the $10Bn+ Tangerine credit portfolios, optimizing risk/return within governance controls and risk appetite by driving continuous improvement using best in class technology and analytics.



The incumbent leads a team responsible for risk detection and analysis, providing proactive recommendations and risk assessments to senior management and the Tangerine Risk Governance Committee (RGC) and Tangerine Credit Risk Committee (CRiC). Works closely with the Tangerine senior leadership team and key partners in the annual risk appetite planning. for Tangerine.



Provides independent oversight and subject matter expertise in assessing new programs to help deliver business objectives within risk appetite and ensure proactive mitigation of key risks.



Provides a direct contribution to the credit quality of the Bank by establishing, executing, monitoring, and testing strategies and policies for credit lifecycle management.

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

Lifecycle Strategies

Direct the development and implementation of credit risk origination strategies, policies, procedures, and systems with goal of using empirical decision models/algorithms to approve credit Ensure all new approved credit is aligned with risk appetite, delegated lending limits and optimizes capital and risk/return over the long term Recommend improvements of existing strategies, procedures, and policies in line with internal controls, compliance, and risk appetite Owns the design and delivery of portfolio management activities across both the secured and unsecured lending portfolios using Industry-leading technologies (TSYS, TRIAD, Digital Risk Engine) Leads a customer-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge Leads team to build data driven risk treatments and strategies within appetite that support Banking's external partnerships and loyalty program requirements, including where needed, participation in M&A assessments Lead cross-functional project teams to implement fit for purpose solutions for Tangerine Bank. Ensure digital and risk technologies are fully leveraged post-implementation Leverage champion/challenger ('test and learn') capabilities to confirm or refute portfolio assumptions, justify treatment changes, and identify whether risks are expected to exceed limits granted within the financial operating plan or risk appetite Should risk levels increase, proactively identify, and mitigate risk using root cause analysis, containment strategies and active portfolio management tools Ensure portfolio changes are well documented, communicated, tested, and governed by appropriate separation of duty controls Participate in various internal audit and OSFI reviews and quarterly monitoring on recurring basis. Ensure timely completion of reporting, management action plans and the self-identification of control strengthening opportunities

Portfolio Monitoring

Evaluate the performance of risk-related strategies and liaise with business partners to assess current/emerging trends, risks, and impact (ensure robust daily/weekly/mthly reporting) Recurring independent reporting to Credit Risk Committee, Risk Governance Committee Adhoc reporting and content preparation for the Tangerine CEO, SVP, Product monthly and to the CRO in preparation for Tangerine Board, on a quarterly basis Monitor, assess and evaluate various customer management strategies as well as overall portfolio performance. Through various dimensions of analysis, work closely with business partners to develop actionable tactical recommendations to enhance program effectiveness and profitability, especially for top segments and/or vulnerable customers e.g., affordability frameworks, loss mitigation toolkits etc

Support Business Line Initiatives/Projects

Work with key stakeholders in GRM, CIDA, modelling, audit, product, operations, and technology to ensure customer strategies are developed using best practices including decision science, adhering to global policies and divisional standards Work with business line partners to ensure strategies are consistent with the Risk Appetite Framework (a forward-looking, predetermined amount of credit and other risk that the Bank is willing to take) Perform independent risk assessments on an adhoc and recurring basis, including NIRA's. Ensure all business line strategic priorities (i.e., growth, new product launches, new channels, new processes, new business line acquisitions) have the appropriate level of controls, resource & technology investment @scale and are consistent with Risk Appetite Framework Participate in projects, including the review of business cases, risk proposals, requirements document and liaising with the appropriate groups throughout the organization

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

Bachelor's degree or higher in business, statistics, economics or finance A minimum of five to seven years with an organization in the risk/portfolio management field, with a proven track record of success in leading and implementing change in the financial services sector Strong project management and leadership skills to prioritize manage and implement a variety of competing initiatives, on a concurrent or staggered basis Excellent communication and written skills complemented with solid deductive reasoning, sound judgement and creativity Strong knowledge of RiskTech tools and strategy development for portfolio optimization Good knowledge of the Scotiabank's business objectives, strategies, overall products and services, policies, legal requirements, and internal operating environment Knowledge of the Bank's customer/business objectives, issues and challenges as well and the current trends and implications of the International markets Prior experience in a retail lending environment or credit risk management is preferred Prior governance/audit and regulatory experience preferred, role has frequent interaction with internal audit and OSFI Able to independently assess and prepare financial impact to PnL and PCL from various credit risk lifecycle strategies or initiatives

What's in it for you?

We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e. true innovation), and celebrates success! An inclusive working environment that encourages creativity, curiosity, and celebrates success! A rewarding career path with diverse opportunities for professional development Internal training to support your growth and enhance your skills A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision and dental benefits that start from day one and much more!


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. 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.