Requisition ID: 223916
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Purpose

The Manager, Work Out is responsible for providing quality decisions to minimize potential loan losses and improve profitability from an assigned portfolio of small business customer relationships assigned to the Unit. The role primarily involves collection activity on a high-risk segment of Scotiabank Small Business Customers that have fallen delinquent or have exhibited risky behaviour requiring specialized treatment of their accounts.

Accountabilities

1. Provide quality decisions to minimize losses and improve profitability on accounts assigned to the SBC by:

• Effectively analyzing problem loan situations and contacting customers to diagnose type and cause of default which exposes the Bank to higher risk.
• Determining, through probing questions, the cause of offside conditions.
• Establishing a reasonable time frame, based on the facts obtained, to expect the customer to bring payments current and follow for the payments or act to cure defaults
• Preparing or directing the preparation of credit authorizations and exercising sound credit judgement based on thorough investigations and analysis.
• Providing loss mitigation tools as applicable within specified limits and making recommendations to higher authorities for loans exceeding these limits
• Ensuring accounts adhere to the conditions of authorizations and other Bank regulations, and promptly identifying and resolving deviations, including overdrafts, arrears and security documentation.
• Completing and registering required collateral security documents accurately and on time or ensuring this takes place.
• Keeping abreast of changes in accounting practices, government and tax regulations, and other factors as they relate to financial statement presentation.
• Improving the profitability of higher risk accounts by collecting appropriate fees and/or increasing rates of interest commiserate with risk.

2. Provide customer service meeting Bank standards and retain and increase the overall profitability of assigned customer relationships by:

• Providing guidance and counsel to SBC customers through consistent and proactive communication.
• Ensuring consistent application of service standards, risk policies and related processes
• Ensuring external customers' concerns/issues are dealt with in a timely, fair and equitable manner with efforts made to meet the best interests of the Bank and the customer.

3. Contribute to the effective management of the Centre by:

• Effectively communicating and implementing changes.
• Timely escalation of issues/obstacles/trends to the Senior Manager, Work Out and/or Unit Leader as appropriate with recommendations/solutions.
• Ensuring the Centre complies with all applicable legal and regulatory requirements
• Investigating and escalating with recommendations any opportunities to improve operational effectiveness

4. Develop and maintain sound commercial banking management practices by:

• Providing guidance and counsel on corrective action to line management in Branches, Risk Management and ACE, CRU, Canada Collections, Security and Investigation, Global Operations, Private Banking for accounts assigned or others as requested.

Dimensions

• Handles special request files such as Private Banking, GRM or SAM, or Fraud
• Manages own portfolio of upwards of 80 accounts with outstanding balances of up to $3,000,000 (with valid authorizations).
• Meet or surpass Satisfaction Survey Goal
• Authority limits range up to $500,000 depending on action being taken (please refer to the attached Authority Levels, Work Out, Small Business)

Education / Experience / Other Information (include only those that are specific to the role)

• Undergraduate degree or MBA in Business, Accounting, Finance or a minimum of 3 years of related experience, preferable in the Small Business Credit adjudication or Branch Banking network area
• Detailed knowledge of Bank's collection policies and procedures and the Collection Centre operating procedures (Process Manual).
• Knowledge of Bank's lending policies and procedures as well as all legislation and legal proceedings as all legal implications have a direct impact on recovery and losses.
• Strong knowledge of the Bank's Small Business products, their payment requirements, security and the Business Banking Services Agreement (BBSA).
• Working knowledge of Bank's systems, CACS, Online Loans Systems, DDA, Litigation

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.