Scotiabank Senior Manager, Investment Enhancement Group (IEG) - Toronto, ON (1 year contract) in Toronto, Ontario
Senior Manager, Investment Enhancement Group (IEG) - Toronto, ON (1 year contract)
Requisition ID: 46929
Join the Global Community of Scotiabankers to help customers become better off.
The Senior Manager, Investment Enhancement Group is responsible for managing a portfolio of under-performing accounts including subordinated debt, mezzanine and equity investments; the majority of which have no tangible asset security. In addition, as directed by senior management, he/she will indirectly assist the Regions with other challenged accounts which remain outside of IEG. Through active management, the focus of the group is to restructure the investments to minimize loan losses and write offs with the goal to exit the accounts in a timely manner or return them to Regional Offices at a higher IG level. The incumbent is responsible to access each situation, recommend a turnaround plan, manage its implementation and review its progress. The plan may involve the replacement of existing management and/or Board of Directors. The effective use of third party consultants, turnaround specialists and other professionals will be key, to identify and repair the weakness in management, systems, finance, operational, and sales aspects of the business. The ultimate goal is to recreate enterprise value to create a positive exit of Roynat’s position or upgrade to allow its return to normal field operations.
- Improve corporate profitability through the execution of turnaround management activities on assigned problem accounts by:
• Assessing the industry, management, operational and financial issues affecting assigned accounts.
• Recommending a viable turnaround management strategy and solutions to senior management and Senior Credit to minimize risk and maximize recovery on problem accounts.
• Oversee the implementation of the approved management strategy in conjunction with other key stakeholders including other senior and subordinate lenders, minority and majority shareholders, & customers and suppliers of the business.
• Maintaining a current and thorough knowledge of Roynat's business lines including term lending, leasing, subordinated debt, mezzanine and equity.
• Maintain a current and thorough knowledge of insolvency issues.
• Assist the Managing Director in maintaining a current inventory of turnaround specialists, legal sources and insolvency specialists who may be required to achieve the turnaround plan.
- Contribute to the orderly administration, management and control of assigned problem accounts while ensuring it is at an acceptable level of risk / return by:
• Ensuring a high degree of day to day research, monitoring, active administration, analysis and prudent management of accounts as assigned.
• Maintain current and accurate written communications to record the agreed turnaround plan, with regular progress reports as required and as necessary report deficiencies, breaches and recommended changes to ensure the goals are met and our eventual exit goal is achieved.
• Monitor assigned accounts to ensure conformity to terms and conditions, as stipulated in credit authorizations with timely financial statement reviews.
• Effectively managing often tense and difficult relationships with clients and other key stakeholders.
• Ensure all proposed turnaround solutions are compliant with all Roynat established policies and procedures.
• Contribute to the group’s teamwork, creativity, achievement of goals, and make an effort to maintain open lines of communication.
• As required, meet with clients, consultants, attorneys, receivers, etc. to resolve outstanding issues in order to move the recovery process forward and minimize loan losses and/or maximize recoveries of investments.
- Develop short and long term turnaround management strategies to support Roynat's objectives for risk management related to unsecured lending and investments by:
• Leveraging and managing customer profitability through effective turnaround solutions.
• Resolving issues and negotiating compromises with customers/other stake holders to meet objectives and overcome obstacles.
• Consider and recommend alternatives and use strategic influencing skills to gain buy-in from customers/other stake holders.
• Recommend engagements of specific third parties, including what will be required for the scope of work, agreed fees and timelines to complete.
• Where appropriate make recommendations on distress financing and loan/equity restructuring to Senior Management and Roynat's Senior Credit Group.
- Contribute to the professional development of Group and District Office Field staff by:
• Provide in-house coaching to support personnel on credit administration.
• Share and disseminate information on market conditions affecting Roynat's major regions.
• Share legal and insolvency trends affecting businesses in Canada and the U.S.
• Assist Managing Director with training requirements to enhance development of support staff and providing timely performance feedback and provide guidance and counsel to assist them in more effectively identifying and managing problem accounts.
• Ensuring reports and correspondence are completed accurately and promptly.
• Assisting in recruiting and/or training staff as required (within authorized complement).
• Completing other duties as may be assigned from time to time by the Managing Director.
• Sound knowledge of Roynat's credit policies and procedures.
• Strong analytical skills and sound credit judgment.
• Strong knowledge of all Roynat lending and investment products including term, sub debt, mezzanine and equity.
• Strong verbal and written communication skills. Ability to communicate across a broad range of contacts.
• Knowledge of security documentation, legal ramifications/remedies, environmental and bankruptcy legislation.
• Strong interpersonal, relationship building and strategic influencing skills
University degree in business with suitable business experience
Location(s): Canada : Ontario : Toronto
As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly. If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.