Senior Manager, Credit Risk & Fund Financing - Scotiabank, Toronto

AI Summary

Scotiabank in Toronto is hiring a Senior Manager, Structured Credit Risk and Fund Financing. This senior role ensures sound asset growth for the bank by adjudicating credit proposals, primarily for subscription finance and CLO warehouse financing. Key duties include ensuring compliance and providing expert advice to business units. Top requirements include a Bachelor's degree and 4+ years of experience in credit/market risk analysis, with knowledge of structured products and fund financing.

About the Role and Team at Scotiabank

The Structured Credit and Funds Financing team at Scotiabank is a high-performing group dedicated to contributing to the sound asset growth and profitability of the bank. As a Senior Manager within this team, you will play a pivotal role in ensuring that all credit requests are meticulously analyzed and adjudicated, with data validated and effective recommendations presented to facilitate timely decisions. The team's extensive coverage includes critical areas such as subscription finance, collateralized loan obligation (CLO) warehouses, regulated funds, pension funds, independent broker/dealers, and central clearing counterparties. This position involves close collaboration with senior management and various business line leaders, providing crucial advice and guidance to banking officers on the complexities of deal structuring and formation. The dynamic nature of this industry and the diverse range of risks within the portfolio offer an environment that fosters continuous learning and development, allowing you to make a significant positive contribution to the bank as a credit expert. Your expertise will be vital in navigating the intricacies of the financial services industry, particularly in the realm of fund financing.

Key Responsibilities and Strategic Impact

In this senior capacity, you will operate within a collaborative, team-based environment, primarily adjudicating credit proposals for subscription finance and CLO warehouses, while also overseeing investment funds, pension funds, independent broker/dealers, and central clearing counterparties. A core responsibility is to ensure the prompt and timely adjudication of credit applications and periodic/annual reviews. This involves meticulously analyzing credit applications submitted to senior and executive management and the credit committee, ensuring supporting information is complete, accurate, and that sound recommendations are presented concisely. You will actively participate in discussions and provide recommendations within Senior Credit Committees, influencing key decisions for the bank. It is essential to ensure that new underwritings comply with established guidelines and limits, providing clear rationale for any necessary exceptions. Furthermore, you will lead the annual industry review process, presenting insights to senior management as an industry champion for at least one sector covered by the team. Providing high-quality, timely advice and counsel as a trusted advisor to global business units is paramount, as is ensuring the appropriate use of models and accurate assignment of Borrower and Facility risk ratings in compliance with bank policies. Your role will also involve administering accounts, ensuring the ongoing quality of the credit portfolio by staying abreast of external developments, industry trends, and bank procedures, and promoting adequate governance by maintaining trading exposures within approved limits.

Desired Skills and Professional Expertise

To succeed in this challenging yet rewarding senior role, candidates are expected to possess a Bachelor’s degree in Finance, Economics, Business Administration, or a related field, coupled with at least four years of experience in credit or market risk analysis. A Master’s degree or completion of CFA/FRM/CAIA designations would be considered a valuable asset. Comprehensive knowledge of the financial services industry is required, specifically including investment funds, pension funds, broker/dealers, and central clearing counterparties. Proven experience in subscription finance, structured products, and CLO transactions is considered a strong asset, alongside familiarity with fund financing structures for non-bank financial industries. An expert understanding of bank lending policies and procedures, financial analysis, risk assessment techniques, credit structuring, collateral, and security documentation is crucial. The ability to interpret complex credit agreements and trading documents, such as ISDA, CSA, and GMRA, is also a key requirement. Successful candidates will demonstrate the ability to stay current with new products and developments in financial services markets, particularly regulatory and legal changes. Excellent analytical, problem-solving, and communication skills are essential for professional interactions with business partners and senior management, ensuring a high level of credibility and effective decision-making in a high-volume environment.