Director, SDA Automotive Lending Strategy and Policy

Scotiabank - Toronto, ON (27 days ago)

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Requisition ID: 74451

Join the Global Community of Scotiabankers to help customers become better off.

Purpose of Job

The Director, SDA (Scotia Dealer Advantage) Automotive Lending Strategy and Policy will ensure all new approved credit is aligned with risk appetite optimizing risk/return over the long-term by driving continuous improvement in strategy effectiveness, leverage champion/challenger capabilities to confirm assumptions and justify changes. The incumbent will also identify if any credit risks are or will become in excess of the 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 incumbent will optimize approve / decline decisioning criteria, verification requirements, determine the amount of credit exposure at product/customer level, analyzing and reporting on the performance of existing origination strategies; identifying and recommending improvements to strategies and policies, review portfolio trends, recommend strategy and policy changes and promote best practices.

As a subject matter expert on both the Prime and Non-prime Automotive lending portfolios, the incumbent will work closely with business line partners to ensure business acquisition strategies, offer volumes and channel selection are within the Risk Appetite. Recommend changes to business line strategies to ensure the Bank does not take on more credit risk than planned, including a forward-looking assessment to ensure it is within Risk Appetite.

This position requires technical expertise including experience with risk technologies origination and scoring to enable the automation of strategies, policies and business rules. As well as a deep understanding of the Canadian Automotive Retail space, economic conditions and credit bureau information.

Major Accountabilities

1. Origination Strategies

Direct the development and implementation of credit risk origination strategies, policies, procedures, and systems for Canadian Non-Prime Automotive Lending, using empirical decision models to approve credit and set customer credit exposure.
Maximize opportunities to automate credit adjudication to improve efficiencies and enhance the customer, dealership and manufacturer experience
Ensure all new approved credit is aligned with risk appetite and will optimize risk/return over the long term.
For new segments direct the development of new policies and procedures.
Recommend improvements of 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. Shared Services, Team Voice, Product Groups, System Groups, Centralized Processing Units, CCC, Banking Operations, ACE Units, Sales Support, Audit) regarding risk related policy/procedure/systems issues, preparing special writings to Executive Management as required, ensuring timely responses to correspondence and enquiries on policy and procedural issues.
2. Portfolio Monitoring

Responsible for the performance of the portfolio, actively evaluate the performance on a monthly basis of risk-related strategies and liaise with business partners to assess current/emerging trends and impact to portfolio.
Drive continuous improvements with focus on risk/return while ensuring alignment with Provisioning and
Credit Risk Appetite.
Create a test and learn framework specific to emerging business strategies to identify future opportunities using applicable risk technologies.
Identify if any credit risks are or will become in excess of Provisioning and Risk Appetite Framework. Move quickly to rectify including: identifying root cause, making recommendations to senior management, and implementing any recommended changes to origination and business line strategies.
3. Support Business Line Initiatives/Projects

Ensure all business line strategic priorities (i.e. automotive lending growth, change of segment such as Dealer, Manufacturer, New/Used, Subvented, channels, new processes, new business line acquisitions) are consistent with Provisioning and the Risk Appetite Framework.

To support the business line and other stakeholders, participate in projects for Automotive Lending programs. This includes the review of business cases, risk proposals, requirements documents and liaising with the appropriate groups throughout the organization that will assist in protecting the Bank’s interests and maximize prudent lending opportunities.

Leveraging their strong knowledge of the Non-Prime Automotive segment, proactively research and identify opportunities and recommend changes to business line strategies to ensure the Bank does not take on more credit risk than planned, while maximizing lending opportunities.

4. 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 Automotive Lending.
Ensure that all OSFI questions/findings are responded to via the Global Retail Risk Policy team in an appropriate /acceptable timeframe with a clear and reasonable resolution.
Provide Action Items/solutions for Internal Audit items with appropriate timelines to the Global Retail Risk Policy team.
Liaise with the Fraud Department and Security and Investigations; identifying/assessing new analytical tools for determining fraudulent activities, either through internal development or from third party providers and writing business cases as required for new purchases; reviewing trends and providing recommendations to address any systemic issues identified.

5. Automotive Competitive Landscape

Maintain strong segment knowledge by remaining current on the competitive landscape, partnering with the business line to ensure that as risk managers our processes, strategies and policies consider the changing landscape (Canadian/International).

6. Canadian Economic Environment

Leverage data from Scotiabank Economics and Risk Analytics for competitor performance and employment rates; informing the business line and preparing for headwinds as required.

7. Due Diligence

As required participate on due diligences to assess the new portfolio, current and future performance, and integration complexities.

8. Team leadership

Provide strong leadership to direct reports to motivate both individual and team performance and foster a commitment to Scotiabank’s Values and our Customers.
Recruit high potential management candidates.
Develop staff by sharing knowledge/experience and provide opportunities for staff to share responsibility for achieving bank and department objectives/goals.
Contribute to the success of the Global Retail Credit Risk Department.
Education / Work experience / Competencies

A business related university degree is required (graduate degree in Math, Statistics Economics, Business or technical field preferred), along with extensive mortgage, retail or small business lending experience in a senior E.O. post and/or the field (branch operations and marketing).
Ability to represent the department in a professional manner and to clearly communicate the complexities of any initiatives to internal or external groups.
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 judgment and creativity.
Strong financial skills.
Strong knowledge designing strategies for new account origination and their respective systems.
Good knowledge of the Bank'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.
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 Fls;
Knowledge of legislation (as it relates to lending) at both the federal and provincial level (including Sarbanes-Oxley, CDIC, FCAC, Bank Act, provincial legislation, Privacy Act).
Thorough knowledge of credit scoring and risk assessment as well as portfolio management and behavior scoring to maximize the effectiveness of existing technology in providing competitive and effective policies that respond to the credit needs of our customers;
Experience in the use of strategy development and statistical software such as SAS/Enterprise Miner/ANGOSS including the ability to apply advanced statistical techniques preferred.
Prior experience in a retail lending environment or credit risk management is preferred.
Strong knowledge of Microsoft word, Excel, PPT, etc.

Working Conditions:
Extended periods spent sitting in same location (generally in a comfortable position) with the ability to move about
Some travel may be required
Frequent need to give close attention to documents; frequent use of video display terminal; large amount of daily reading
Deadlines and priorities, including those dictated by Executive and Senior Management, are subject to constant change consistent with an E.O. environment and a highly competitive and sometimes volatile retail lending marketplace
Pressure to meet changing deadlines requiring reprioritization
Co-ordination of activities involving support and/or other departments
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.