Director & Head, Credit Risk - Tangerine

Requisition ID: 235798

Join a purpose driven winning team committed to results in an inclusive and high-performing culture.

The Director & Head Credit Risk at Tangerine provides strategic direction leadership and oversight for Tangerine Retail Risk Portfolio Management & Credit Strategies across the lifecycle ensuring business strategies plans and initiatives are supported in compliance with governing regulations internal policies and procedures.

The incumbent leads a team responsible for maintaining the design and effectiveness of the credit risk framework at Tangerine Bank. It includes the development assessment implementation and monitoring of credit risk strategies policies controls and procedures across the customer lifecycle for Tangerine secured and unsecured lending products (Mortgages Home Equity Lines of Credit Credit Cards Unsecured Lines of Credit Installment Loans and Overdraft Protection).

The Director & Head Credit Risk will ensure all new approved credit exposures are aligned with risk appetite and shall operate within their delegated lending authority limits in accordance with the enterprise risk management framework.

The role has key accountability to provide effective challenge and independent oversight of the $10Bn Tangerine credit portfolios optimizing risk/return within governance controls and risk appetite by driving continuous improvement using best in class technology and analytics.

The incumbent leads a team responsible for risk detection and analysis providing proactive recommendations and risk assessments to senior management and the Tangerine Risk Governance Committee (RGC) and Tangerine Credit Risk Committee (CRiC). Works closely with the Tangerine senior leadership team and key partners in the annual risk appetite planning. for Tangerine.

Provides independent oversight and subject matter expertise in assessing new programs to help deliver business objectives within risk appetite and ensure proactive mitigation of key risks.

Provides a direct contribution to the credit quality of the Bank by establishing executing monitoring and testing strategies and policies for credit lifecycle management.

Is this role right for you In this role you will:

Lifecycle Strategies

• Direct the development and implementation of credit risk origination strategies policies procedures and systems with goal of using empirical decision models/algorithms to approve credit
• Ensure all new approved credit is aligned with risk appetite delegated lending limits and optimizes capital and risk/return over the long term
• Recommend improvements of existing strategies procedures and policies in line with internal controls compliance and risk appetite
• Owns the design and delivery of portfolio management activities across both the secured and unsecured lending portfolios using Industry-leading technologies (TSYS TRIAD Digital Risk Engine)
• Leads a customer-focused culture throughout their team to deepen client relationships and leverage broader Bank relationships systems and knowledge
• Leads team to build data driven risk treatments and strategies within appetite that support Bankings external partnerships and loyalty program requirements including where needed participation in M&A assessments

• Lead cross-functional project teams to implement fit for purpose solutions for Tangerine Bank. Ensure digital and risk technologies are fully leveraged post-implementation
• Leverage champion/challenger (test and learn) capabilities to confirm or refute portfolio assumptions justify treatment changes and identify whether risks are expected to exceed limits granted within the financial operating plan or risk appetite
• Should risk levels increase proactively identify and mitigate risk using root cause analysis containment strategies and active portfolio management tools
• Ensure portfolio changes are well documented communicated tested and governed by appropriate separation of duty controls
• Participate in various internal audit and OSFI reviews and quarterly monitoring on recurring basis. Ensure timely completion of reporting management action plans and the self-identification of control strengthening opportunities

Portfolio Monitoring

• Evaluate the performance of risk-related strategies and liaise with business partners to assess current/emerging trends risks and impact (ensure robust daily/weekly/mthly reporting)
• Recurring independent reporting to Credit Risk Committee Risk Governance Committee
• Adhoc reporting and content preparation for the Tangerine CEO SVP Product monthly and to the CRO in preparation for Tangerine Board on a quarterly basis

• Monitor assess and evaluate various customer management strategies as well as overall portfolio performance. Through various dimensions of analysis work closely with business partners to develop actionable tactical recommendations to enhance program effectiveness and profitability especially for top segments and/or vulnerable customers e.g. affordability frameworks loss mitigation toolkits etc

Support Business Line Initiatives/Projects

• Work with key stakeholders in GRM CIDA modelling audit product operations and technology to ensure customer strategies are developed using best practices including decision science adhering to global policies and divisional standards
• Work with business line partners to ensure strategies are consistent with the Risk Appetite Framework (a forward-looking predetermined amount of credit and other risk that the Bank is willing to take)

• Perform independent risk assessments on an adhoc and recurring basis including NIRAs. Ensure all business line strategic priorities (i.e. growth new product launches new channels new processes new business line acquisitions) have the appropriate level of controls resource & technology investment @scale and are consistent with Risk Appetite Framework
• Participate in projects including the review of business cases risk proposals requirements document and liaising with the appropriate groups throughout the organization

Do you have the skills that will enable you to succeed in this role Wed love to work with you if you have:

• Bachelors degree or higher in business statistics economics or finance

• 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 judgement and creativity
• Strong knowledge of RiskTech tools and strategy development for portfolio optimization
• Good knowledge of the Scotiabanks business objectives strategies overall products and services policies legal requirements and internal operating environment
• Knowledge of the Banks customer/business objectives issues and challenges as well and the current trends and implications of the International markets
• Prior experience in a retail lending environment or credit risk management is preferred
• Prior governance/audit and regulatory experience preferred role has frequent interaction with internal audit and OSFI
• Able to independently assess and prepare financial impact to PnL and PCL from various credit risk lifecycle strategies or initiatives

Whats in it for you

• We have an inclusive and collaborative work environment that values curiosity & ownership encourages pragmatic creativity (i.e. true innovation) and celebrates success!
• An inclusive working environment that encourages creativity curiosity and celebrates success!
• A rewarding career path with diverse opportunities for professional development
• Internal training to support your growth and enhance your skills
• A competitive rewards package that includes a base salary a performance bonus company matching programs on pension and profit sharing paid vacation personal & sick days medical vision and dental benefits that start from day one and much more!

Location(s): Canada : Ontario : Toronto

Scotiabank 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 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.