Director, U.S. Leveraged Finance Credit Risk

Requisition : 248944
Salary Range:  -

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Global Banking and Markets Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.

Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

Purpose

The position is responsible for managing U.S. Leveraged Finance and Non-Investment Grade credit risks, which may include, but is not limited to, the following industry groups: technology, healthcare, and general commercial & industrial.

The Candidate Will

• Provide leadership for the bank’s developing leveraged finance business that effectively balances the time-sensitive, urgent needs of individual deals and broader business considerations;
• Help refine and implement a U.S. leveraged finance credit risk management framework, including the bank’s risk appetite, to ensure that Scotiabank’s expansion into non-investment grade is conducted in a safe and sound manner;
• Assess proposed leveraged finance transactions and monitor the overall underwriting portfolio and the portfolio of held loans;
• The candidate will report to MD, Head of Non-Investment Grade Credit Risk and will work closely with the U.S. Head of Credit Risk, and the U.S. Chief Risk Officer, to present leveraged finance credit risk management considerations to senior management; and
• Participate in leveraged finance and non-investment grade credit risk related discussions with Scotiabank’s U.S. regulators.

What You'll Do

• Participating in the development and maintenance of leveraged finance credit risk frameworks and risk appetite statements that are aligned with industry standards and local regulatory expectations;
• Critically reviewing individual deals and independently leading the deal process from inception through approval. This includes review and diligence of the forecast EBITDA and adjustments, capital structure, syndication issues, and risk / reward tradeoffs and making credit decisions within delegated authority or recommendations to senior management regarding credit approvals and declines;
• Critically review and produce reports on the syndication book and aged underwritings to ensure the bank’s portfolio is aligned with its risk appetite and / or identify issues for escalation to senior management and the Board of Directors;
• Partnering with the business to ensure day-to-day business activities are conducted within the bank’s risk appetite and to manage the alignment of the bank’s U.S. strategy, risk appetite and risk culture;
• Driving a customer focused culture that deepens client relationships and leverages broader Bank relationships, systems and knowledge;
• Building a high-performance environment and implementing a people strategy that attracts, retains, develops, and motivates their team by (1) fostering an inclusive work environment and using a coaching mindset and behaviors, (2) communicating vison/values/business strategy, and (3) managing succession and development planning…