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The Senior Credit Analyst (CA) is responsible for performing quality reviews of mortgage loan decisions processed through Scotia Mortgage Authority (SMA) and Home Financing Solutions (HFS), to ensure consistent, quality decisions are being made by the adjudication staff within appropriate risk policies, and identifying trends to improve service to all customers.
In addition, the incumbent ensures adherence to Bank regulations, security procedures and policies through a thorough pre-funding review of all mortgages fulfilled by SMA / HFS. The CA will escalate non-adherence to the Broker Relationship Manager (BRM) or Home Financing Lending Manager (HFLM) for administrative matters and to their appropriate Supervisors, Regional Vice-Presidents (RVPs) / Regional Directors (RDs) respectively, in addition to the Manager, Credit Review, Senior Manager, Credit Review and or the Director, Risk SMA for compliance issues.
The incumbent is expected to work within a team; taking initiative and providing assistance as required ensuring the team’s service expectations are met. He/She must have a strong understanding of the Bank's policies and processes as they relate to Retail Lending and the Alternate Mortgage Channel, as well as the Bank's Service and Complaint Resolution standards.
1. Ensure adherence to policy and procedural standards for mortgages approved for funding:
- Review mortgage files prior to funding to ensure retail lending compliance
- Conduct specific reviews of mortgages from time to time as requested by the Manager, Credit Review and/or as requested by the
Director, Risk to assess a BRM’s/HFLM’s performance, or when considering granting/increasing discretionary lending limits as
requested by their respective RVP or RD.
- As required, conduct specific reviews requested by Manager, Credit Review, Senior Manager, Credit Review and/or the Director,
Risk of BRMs, HFLMs, RVPs, RDs, HFAs, Mortgage Broker, Solicitors, Appraisers.
- Effect quality control to ensure established standards are adhered to, taking full responsibility for correctness and approval of
- Use judgment to determine if there are any unidentified or unaddressed out of policy issues contained in the Mortgage file; and if so,
determine whether these issues pose a material or non-material risk, and how to proceed
- Escalate Pre-Funding Exceptions (PFEs) for material risks either via MIMs or directly to one or all of the following; the RVP, RD,
Manager, Credit Review, Senior Manager, Credit Review, Director of Risk or the Senior Mortgage Security Specialist. Non-Material
Risk of an administrative issue are communicated to the RVP/RD and/or BRM/HFLM, as applicable.
- Check and authorize transactions within defined authorities
- Prepare/contribute to regular monthly reports of mortgages reviewed from the previous month, and reporting on scope,
methodology, findings, risk, recommendations, and overall conclusions, and presenting findings to be reviewed by, Manager, Credit
Review, Senior Manager, Credit Review, Director, Risk.
- Maintain an excellent knowledge of policy concerning mortgages, authorization limits and escalation processes
- Provide additional support for the Senior Mortgage Security Specialist by conducting credit reviews on mortgage files of interest and
providing detailed reporting as to the credit worthiness along with any identifiable trends.
2. Ensure consistent, quality solutions mortgage loan applications processed through SMA/HFS:
- Review and report on consistency of decisions and loan conditioning-including the consistency of risk tolerances across
adjudicators, teams, and units
- Review and report on quality of adjudication, adherence to policy and appropriateness of exception decisions
- Reviewing credit decisions to ensure adjudicators provide sound advice and potential alternatives to deal structure, within risk
- Document findings and provide to SMA/HFS senior leadership to use in coaching sessions and to document and assess
- Review sample of similar requests to ensure consistency between adjudicators and document
3. Ensure delivery of customer service is in accordance with Scotia Service standards:
- Provide straightforward explanations of findings from file reviews to Manager, Credit Review , Senior Manager, Credit Review,
Director Risk SMA and Senior Mortgage Security Specialist in a respectful and constructive manner
- Recognize opportunities to improve personal competencies and implementing action steps to enhance those competencies,
including attendance at both internal and external courses
4. Contribute to the effective management of the Bank’s mortgage credit portfolio:
- Ensure accurate trending and tracking of performance metrics
- Keep abreast of changes to policy/processes as they relate to third party mortgage originations and lending
- Identify and escalating any potential issues (i.e. fraud, legislative)
- Identify staff training opportunities and potential skill gaps
- Identify systemic issues
- Expert understanding of retail lending policies specific to retail mortgages/STEP and their associated procedures
- Thorough knowledge of the Bank’s Regulatory and Compliance requirements as they relate to credit granting, Privacy, Know Your
Customer and Anti Money Laundering, including management control and audit disciplines,
- Working knowledge of SMA/HFA processes/procedures with respect to mortgage adjudication and condition fulfillment
- Expert knowledge of CMHC, Genworth, and Canada Guarantee mortgage insurance
- Working knowledge of PC skills (Word, Excel, PowerPoint, Outlook)
- Thorough knowledge of the MIMs system and other related Bank systems
- Previous experience in adjudicating retail loans, mortgages and small business credit is required
- Proven strong communication and interpersonal skills, both verbal and written, are required in order to deal effectively with team
members and other external Bank departments.
Economics or Business related degree or college diploma and 2 to 4 years of industry related experience.
Canada : Ontario : Ottawa || 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.