Job Description

Requisition ID: 211855Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.The incumbent is responsible for establishing, implementing, and routinely updating Credit Risk policies, procedures, and guidelines for Canadian Banking Real Estate Secured Lending (RESL) portfolio. The incumbent will manage and ensure compliance with residential mortgage underwriting regulations, account management and mortgage insurance policies, stay abreast of risk and regulatory compliance changes that impact internal and external business initiatives.The incumbent will have experience in credit risk management and thorough knowledge of real estate secured lending policies and industry best practices for sound underwriting and account management. The position requires the ability to effectively perform in a fast-paced environment and collaborate with cross-functional teams including RESL business line, ACE, Collections, Risk Technology, Analytics and Reporting, Risk Governance, and external mortgage insurers.Is this role right for you? In this role, you will:

• Ensure the design, development, implementation, and oversight of origination and account management credit policies for Real Estate Secured Lending are effective. Provides expertise and guidance for the development and enforcement of organizational underwriting and account management guidelines, policies and processes. Ensure policies are aligned with the Risk Appetite Framework optimizing risk/return over the long term.
• Identify, evaluate, and address credit risk that arises from the development, deployment, interpretation and maintenance of the Underwriting Guidelines in support of new mortgage products/programs, product enhancements, portfolio performance, changes to the industry and regulatory landscape, and business operations.
• Review and conduct analysis of existing policy and portfolio trends to identify, promote and lead opportunities to maintain credit quality, improve efficiency and effectiveness of policy procedures including streamlining, automating, and standardization; recommend changes to enhance performance and overall Customer Experience. Ability to recommend and socialize enhancements to the RESL Credit Risk Policy based on experience, market changes, portfolio and regulatory landscape.
• Prepare and assess credit risk proposals and providing Senior Management with sound recommendations for changes to credit adjudication and account management policies, regulations and major business initiatives and portfolio level decisions that require GRM's authorization or advice and counsel. This includes assessment of new program/product, new pilots or pilot extension or program renewals, etc. Following up approval conditions that may be established as part of GRM's approval to ensure that the business line/product groups implement required conditions.
• The incumbent will work in close collaboration with risk technology and product system partners to ensure credit policies and strategies are implemented accurately, production issues are identified and fixed in a timely fashion. Assist in implementing credit policy changes and remain vigilant over the business to ensure that Credit Risk Policies are fully digested and followed by the 1st line.
• Conduct data analysis to validate existing policy parameters and assess impact of changes, monitor adherence to credit policies, investigate on exceptions, provide responses to business lines. Ensure timely tracking and monitoring of policy and strategy changes.
• Work closely with business line partners and operations, provide advice and counsel to business partners on credit risk policies and initiatives and liaise with key stakeholders, including RESL Business Line and Adjudication Centre of Expertise (ACE).
• Within GRM, the incumbent will interact Risk Technology, Portfolio Insight, Account Management, Collections, Financial Reporting, Risk Governance and Risk Appetite, to ensure effective risk management at portfolio level.
• Maintain in-depth knowledge of risk related federal and provincial legislation requirements and external insurance company polices, including changes in, and emerging issues related to, the Bank's regulatory environment and the potential impacts on Real Estate Secured Lending. Lead efforts to ensure the Credit Risk policies remain in compliance with applicable regional and Canadian laws and regulations.
• Support investigations and solutioning for questions/findings from external regulators and Internal Audit in an appropriate /acceptable timeframe.

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

• Bachelor's degree in Finance, Economics, Business, or a related field
• 5+ years working experience in any of the following areas: Credit Risk Management, Mortgage product management, Credit Adjudication/Underwriting. policy management in financial service industry. Experience in secured lending and real estate policies is preferred.
• Knowledge of credit risk management origination and account management methodologies.
• Strong analytical skills and the ability to design and interpret information/data required to monitor the performance of credit portfolios are essential. Demonstrated experience with data analysis and advanced Excel skills. Advanced data analytics skills would be an asset.
• Strong verbal and written communication skills and the ability to effectively convey information to various levels of management.
• Strong presentation skills and are comfortable presenting materials in various forums and to various levels of staff, management, auditors, and regulators.
• Strong financial skills, solid deductive reasoning, sound judgement and creativity.
• Strong skills in strategic influencing and working collaboratively with cross functional business partners in Canada, as well as with external vendors.
• Strong time management skills, with the ability to work well under tight time constraints and manage various deliverables simultaneously

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 : TorontoScotiabank 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 . 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.

Scotiabank