Requisition ID: 89224
Cost Centre: GRM RISK BUSINESS ANALYTICS
Employee Referral Program – Potential Reward:
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Purpose of Job:
The purpose of the Manager, Unsecured Policy & Analytics is to contribute to the risk management and profitability of the Retail Bank by ensuring all new unsecured credit (Credit Cards, Unsecured Lines of Credit, Direct Term Loans, and Overdraft Protection) are aligned with the Risk Appetite Framework, optimizing risk/return over the long term. This will be achieved by driving continuous improvement in strategy effectiveness,
assessing trends and potential risk exposure via effective and prompt analysis of predictive modelling data, delinquency reports, and economic factors to justify changes.
In addition, they will support the Senior Manager, Unsecured Lending Policy with the continual review and analysis of existing policies and procedures in order to identify opportunities for improved credit quality, increased sales and/or processing efficiencies for unsecured lending products across diverse delivery channels, risk technology tools and centralized processing units. The incumbent will also be expected to identify if any credit risks are or will become in excess of Risk Appetite Framework and move quickly to rectify including identifying root cause. This includes recommendations to senior management and working with Risk automation to ensure strategy changes are implemented as expected.
The Manager will work closely with business line partners: 1) to ensure strategies, policies and Programs, program volumes and channel selection are within Risk Appetite; 2) to recommend changes to business line strategies to ensure the Bank does not take on more credit risk than planned; 3) to maintain a forward-looking assessment to ensure it is within the Risk Appetite.
The Manager will aid in the optimization of decision criteria, verification requirements, determine the amount of credit exposure at product/customer level, analyse and report on the performance of existing origination strategies, review portfolio trends to identify and recommend improvements to strategies and policies and promote best practices.
The unsecured lending portfolio encompasses a broad suite of products including credit cards, line of credit, direct term loans, and overdraft protection across a diverse range of customer segments. This position requires technical expertise including experience with risk technologies origination, account management and scoring to enable the automation of strategies, policies and business rules, as well as a deep understanding of the Canadian unsecured lending market, economic conditions and credit bureau information.
1. Origination and Account Management
Support the development and implementation of credit risk strategies, policies, procedures, and systems for Unsecured Lending using analytics, empirical decision models, and competitive analysis.
Ensure all unsecured credit policies are aligned with risk appetite and will optimize risk/return over the long term.
Support the development of new policies and procedures.
Identify improvements for existing strategies, procedures and policies.
Promote best practices and leverage appropriate risk technologies for all strategy and policy changes.
Provide counsel and direction to other units (e.g. Sales Support, Team Voice, branch/RSC/Digital originating channels, unsecured lending product groups, System Groups, Centralized Processing Units, CCC, Banking Operations, ACE Units, PAE, Audit, governance) regarding risk related policy/procedure/systems issues, ensuring timely responses to correspondence and enquiries on policy and procedural issues.
Canadian Regulator, Internal Audit and Fraud Management
Maintain in-depth knowledge of risk related federal and provincial legislation requirements, including changes in, and emerging issues related to, the Bank's regulatory environment and the potential impacts on Unsecured Lending.
Support investigations and solutioning for OSFI questions/findings in an appropriate /acceptable timeframe.
Support investigations and solutioning needed for issues identified by PAE and/or Internal Audit items in an appropriate timeframe.
Liaise with the Fraud Department and Security and Investigations as required.
3. Portfolio Monitoring
Drive continuous improvements with focus on risk/return while ensuring alignment with Credit Risk Appetite.
Identify if any credit risks are or will become in excess of Risk Appetite Framework and current policies through monthly reporting. Move quickly to rectify including: identifying root cause, making recommendations to senior management, and implementing any recommended changes to origination and business line strategies.
Identify opportunities and propose policy and program updates with focus on risk/return, asset based lending with building a robust and competitive portfolio in mind
4. Support Business Line Initiatives/Projects
Ensure all business line strategic priorities (e.g., new niche markets, new systems and processes) are consistent with the Risk Appetite Framework.
Participate in projects for Unsecured Lending programs. This includes the review of business cases, risk proposals, requirements documents and liaising with the appropriate groups throughout the organization.
Maintain a current, in-depth knowledge, relative to assigned products, of the Bank’s operating procedures and systems, by delivery channel/centralized unit (e.g. branch, CCC, digital, ACE), results achieved, identifying areas where new/enhanced policies or procedures need to be implemented to improve productivity and performance within risk appetite and recommend/implement appropriate changes.
Identify opportunities and recommend changes to business line strategies to ensure the Bank does not take on more credit risk than planned.
Provide day to day support by providing assistance, guidance and counsel to the field, including alternate delivery channels, centralized processing units and product groups on issues relative to unsecured lending policies and procedures including credit/behaviour scoring. This includes the ongoing review and updating of the unsecured policy manuals.
5. Unsecured Lending Competitive Landscape
Stay informed of competitive landscape, partnering with the business line to ensure that as risk managers our processes, strategies and policies consider the changing landscape.
Develop and maintain relationships with external business partners and similar position contacts in other financial institutions.
6. Canadian Economic Environment
Leverage data from Scotiabank Economics, Risk Analytics, Canadian Bankers Association for competitor performance and employment rates; informing the business line and preparing for headwinds as required.
7. Quality Assurance and Due Diligence
As required participate in reviews by external parties (i.e., OSFI) to assess file/credit quality of new originations.
Participate in assessing (due diligence exercises) outside retail lending portfolios for the Bank relative to portfolio purchases, mergers, etc.
A University degree is required (preferably with a major in economics, finance, business, computer science or engineering)
A minimum of three to five 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 judgment and creativity.
Strong data and analytics skills.
Strong problem solving, logical thinking and deductive reasoning skills.
Good knowledge and understanding of Unsecured Retail Credit policies, programs, products and processes as well as the related platforms, risk technology, automated decision systems, and internal operating environment.
Knowledge of the Bank’s customer/business objectives, issues and challenges as well and the current trends and implications.
Full understanding of industry dynamics and trends, competitor policies and culture through maintaining market awareness, membership in industry related organization and developing a rapport with counterparts at other Financial Institutions;
Knowledge of credit scoring and risk assessment as well as portfolio management and behaviour scoring to maximize the effectiveness of existing technology in providing competitive and effective policies that respond to the credit needs of our customers;
Prior experience in a retail lending environment or credit risk management is preferred.
Strong knowledge of SAS, Tableau, Microsoft word, Excel, PowerPoint
Familiarity with data in Enterprise Data Warehouse and Enterprise Data Lake is preferred.
Location(s): Canada : Ontario : Toronto
As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.
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.
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