Senior ABL Business Development Officer
Posted:June 7, 2019
Market Job Description
This role can be based in Mississauga or Toronto office.
This financial institution is one of the top lead arrangers of asset-based loans in the U.S. with a large and diversified portfolio of close to 2,400 customers and more than $33 billion in loans outstanding. They offer traditional asset-based financing, specialized senior secured financing, accounts receivable financing, purchase order financing, and supply chain financing to a wide range of companies throughout the United States, Canada and the United Kingdom.
The Senior ABL Business Development Officer will report to the Corporate Finance ABL National Sales Manager and will be responsible for connectivity between the Client, internal partners and the portfolio, syndications and underwriting teams that manage/underwrite transactions in Industrials sectors.
- Proactively collaborate with our Corporate Banking Group (CBG) and Securities partners in the relevant industry verticals to develop customer-calling strategies, bolster our overall reputation in those industry sectors, and deliver optimal capital structure solutions to our customers as they migrate between the institution and CBG.
- Grow market share in the assigned industry sectors as measured in terms of revenue generation and customer acquisition/retention
- Develop senior level relationships with prospects and existing borrowers through consistent contact and value added solution oriented calling, including C-Suite dialogue
- Operate as the deal leader for all new portfolio transactions within the designated industry sector; coordinating with our customer, our partners and our deal team to facilitate seamless and consistently successful execution
- Engage in pro-active, strategic relationship planning on covered names to maximize revenue opportunities and leverage our capital commitments
- Develop sector expertise to assist in client relationship management and advocacy in our credit approval process
- Acquiring and analyzing historical and projected financial information, analysis of collateral information and preparation of collateral summaries, proposal letters, pitchbooks, relevant industry analysis, competitors and other information required for the business development and credit approval process.
- Network within the industry and participate in relevant trade conferences to effectively represent Wells Fargo and enhance our industry knowledge
- Organize periodic industry focused updates where our bankers can share information with the relevant portfolio teams in managing the names in the respective industry sectors
- This person will support the relationship team in all portfolio matters and establishing connectivity with partners in Credit, Securities, CBG and MMB. This connectivity will result in greater customer satisfaction, stronger partnership throughout the institution, incremental asset growth and increased cross-sell opportunities
This position will require travel (15-25% of time)
Market Skills and Certifications
- 5 years of execution experience in asset based lending, corporate banking or investment banking
- Proven ability to communicate powerfully and prolifically, both internally and externally
- Proven ability to drive for results and motivate a team to do the same
- Demonstrated ability to analyze lending opportunities for clients in Industrials sector related to acquisitions, consolidations, DIPs, LBOs, refinancings and corporate growth
- Proven ability to collaborate in a team environment, partnering across lines of business to achieve client acquisition goals
- Experience with large corporate syndications credit.
- Possess a high level of transaction acumen in order to effectively structure, competitively bid, win mandates and regularly bring to closure ABL opportunities
- Demonstrated ability to lead and mentor a team
- Demonstrated ability to develop strategic perspective and champion change when necessary
- Successful track record of originating new credit and or client relationships, including transaction execution experience
- Prior experience building, developing and motivating a diverse team located in multiple geographies
- Additional years of experience in asset based lending, corporate banking or investment banking an asset
- Lending opportunities analysis experience related to acquisitions, consolidations, debtor-in-possession financings, leveraged buy-outs, refinancing, and corporate growth
Relationship Manager, Client Coverage
Posted:June 4, 2019
Job Title: Relationship Manager, Client Coverage
Division: Global Corporate Clients
The main tasks and responsibilities of the Relationship Manager (RM) are to perform the role of the client owner for clients and to lead the origination, structuring and execution of complex transactions. More specifically, the RM is fully responsible and accountable for client franchise income maximization within his/her client portfolio, for prospecting in the local F&A sector and for the successful origination, structuring and execution (as deal captain) of complex transactions. The RM is furthermore responsible for risk monitoring and (if applicable) actively supporting GSAM in ongoing restructurings in his/her client portfolio and for maintaining an active dialogue with local and regional risk managers. The RM will coach Analysts in the performance of their tasks and responsibilities.
From the Relationship Manager’s perspective, the role allows him/her, amongst others, to:
- develop deep account management skills and experience;
- apply his/her deep knowledge and understanding of the industry dynamics in the F&A sectors in the maximizing client franchise income for Corporate Clients;
- gain experience as deal captain in complex transactions;
- (pro)actively participate on sector platforms and in other internal and external networks;
- develop coaching and (project) management skills.
The key relationships for the RM are bank colleagues and include other product specialists, Global and Regional Sector Heads, Debt Structuring Advisors and FAR Analysts. In addition, the RM will build relationships with their clients’ and prospects’ key decision makers (CEO/CFO/shareholders), (legal) advisors and other banks.
Context of Job:
The primary role is to ensure global excellence in the delivery of the core product, lending. In addition, the RM is responsible for full relationship management and cross sell of all the Bank’s products to its client base.
The RM operates in a dynamic and demanding environment in which proactivity, flexibility and discipline is required across all areas of delivery of the loan product, from pitching through structuring and execution to follow up and monitoring. As provider of the key lending product the RM interacts with a wide variety of internal stakeholders including the Sector Heads, credit analysts and Risk as well as product specialists across the bank (Wholesale Rural & Retail).
The RM is responsible for his/her own commercial objectives which are centered on revenue delivery, cost management and loss minimization. The regulatory framework is bound to local regulatory frameworks and the bank’s policies and procedures.
Key Responsibilities and Accountability:
Lending product ownership
- Opportunity/Idea generation
- Initial analysis
- Client service team representation
- Deep financial analysis and financial modelling
- Scenario analysis
- Deal structuring (pricing, covenant setting, etc.)
- Mandate documents negotiation
- Due diligence coordination
- Internal approval generation
- Loan documents negotiation
- Signing/closing/post closing coordination
- Syndication support
- Deal team management
- Info processing/covenant checks
- Credit reviews and waiver requests
- Relationship planning/RDP
- Client service team coordination
- Client networking
- CRM data management
- Pipeline management
- Opportunity/idea generation
- Opportunity development/pitchbook production
- Multi-product deal term coordination
- Financial reporting (check)
- Operational risk management/In control
- Exercising portfolio control
- Maintaining dialogue with credit risk analysis and KRM
- Active portfolio management/financial resource planning
Human resource management
- Learning & development and coaching
- Performance assessment
- Compensation management
- Building and maintaining a network within the bank
- Building and maintaining a network among external advisers and other banks
- Building and maintaining a network in the F&A industry
The key relationships for the RM are bank (Wholesale Rural & Retail) colleagues and include other product specialists, Global and Regional Sector Heads, Debt Structuring Advisors and FAR Analysts. In addition, the RM will build relationships with their clients’ and prospects’ key decision makers (CEO/CFO/shareholders), (legal) advisors and other banks.
Key performance indicators:
- Performance against budget
- Organization of work: planning, structured & efficient working order, teamwork, level of professional work attitude
- Ability to lead client service teams and develop client relationships
- Ability to act as deal captain for complex LRG or multi-product transactions
- Ability to (cross)sell all bank products to WRR Clients
- Ability to acquire new WRR clients (prospecting)
- Networking skills and ability to develop an intimate relationship with your clients
- Progression in learning
- Debt Structuring and presentation skills
- Leadership skills: coach other team members in transactions and proactively identify potential ways of improving team performance
- Communication skills
- Feedback received from key stakeholdersJob Specifications
- Market/Customer Focus – Uses market insight to serve the customer in the best way possible
- Strategic Vision – Draws up an effective action plan for the team
- Inspiror – Engages the immediate environment to feel committed and accoutable
- Synergize across group – Demonstrates broad professional collaboration to add value
- Challenge/Driver innovation – Spreads innovative ideas and experience
- Output/Result driven – Achieves consistent (commercial) results together with others
Job Skills and Knowledge:
- Proven track record in wholesale banking
- Proven track record in debt and credit structuring
- Experience in relationship/account management
- Experience in leading transactions
- Understanding of dynamics in the Food & Agribusiness sector
- Deep and wide product knowledge
- Fluent in english
- Senior banker
- Sector Specialist
Preferred: University/Master degree or local equivalent (preferred)
Essential: Team player; strong sales skills; proven credit and financial analysis foundation
Desirable: Previous client relationship management experience; knowledge of Food & agribusiness sectors
Manager, Claims and Finance
Posted:May 16, 2019
About the company:
Our client acknowledged a significant milestone — its 30th year delivering insurance and risk management solutions to Ontario’s electricity sector. They develop and offer insurance and risk management solutions to the electricity utilities in Ontario. More than thirty years into our story, they are one of the most successful reciprocal insurance exchanges in existence today.
Services include: property/casualty insurance, group benefits, credit insurance, human resource services, trades/executive/professional and management training and a variety of financial and business solutions – all targeted expressly to the electricity sector.
Reporting to the Vice President, Finance & Claims Services, the incumbent is responsible overseeing budget and month end financial statement preparation. The Manager is also responsible for overseeing activities in the claims department arising out of the Liability, Vehicle and Property insurance programs.
As a member of the management team, provides input in the development of objectives of the Department and supervises the Claims Adjuster, Claims Administrator and Accounting Administrator.
- Oversees preparation of monthly financial statements including various supporting schedules
- Approves all accounts receivable and accounts payable transactions including banking, investments and cash flow management
- Oversees budget preparation, analysis and monitoring
- Prepares and submits regulatory taxation and other corporate filings
- Manages the internal claims management process including working with reinsurers
- Manages customer expectations and satisfaction regarding claims adjusting
- Settles claims within authority level and recommends appropriate course of action in excess of authority to the Vice President
- Manages on-site claims-related investigations
- Oversees litigation management to achieve best possible resolution
- Works with the Vice President to formulate, support and implement long-term strategies for the department
- Oversees and manages work carried out by staff and external consultants
- Develops and manages the unit’s budget
- Other duties as assigned
- Post secondary education with major in accounting, finance, business
- Chartered Professional Accountant (CPA) designation or working towards
Skills, Knowledge & Experience:
- 5+ years finance experience
- Knowledge of electricity sector an asset
- Knowledge of the insurance sector an asset
- Experience/knowledge of claims adjusting an asset
- Knowledge of contract & tort law (claims acts, regulations & policies, etc.) an asset
- Supervisory experience including developing and motivating staff
- Practical experience using a financial accounting system (i.e. ACCPAC) required
- Good investigation and problem solving skills (i.e. dealing with fraud, serious loses, etc.)
- Strong verbal and written communication skills
- Motivated, high energy team player
- Excellent time management and organizational skills
- Strong computer skills (Microsoft Office suite)
- Professional office environment
- Irregular business hours may apply
- Travel within Ontario required
Competitive Salary, Bonus, Pension and Full Health Benefits
Chief Risk Officer (CRO), Risk Management Department
Posted:May 16, 2019
Reports to : Chair, Risk Management Committee, with Administrative reporting to the Chief Executive Officer
Direct Reports : Risk Management Team: Senior Managers, Managers, Senior Associates, Associates
The Chief Risk Officer (CRO) is responsible to comply with the roles and responsibilities of the Corporate Governance as the Chief Officer of the 2nd line of defense. The CRO works with management and the Board of Directors (Board) to support strong and sustainable business performance through independent identification, measurement, monitoring, and reporting of all significant risks of the Bank. The CRO oversees, leads, and manages the Risk Management Department (RMD) and provides oversight and independent challenge to risks managed across the Bank.
The CRO has unfettered access to the Board, the Chief Executive Officer, and all the information, records and personnel of the Bank, and has authority to follow-up with management in response to identified issues and related recommendations.
To maintain their objectivity, the CRO and RMD staff members are not permitted to be directly involved in revenue generation or in the management and financial performance of any business or product of the Bank.
Responsibilities and Duties:
Board, Committee, and Leadership Accountability:
- Provides support to the Risk Management Committee of the Board.
- Chairs both the Loan Review Committee (meets on a quarterly basis) and the Risk Management Steering Committee (meets on a monthly basis). Effectively presents with credibility and presence, to the Bank’s Senior Management team.
- Participates actively as a member of the Asset & Liability Committee and the Information Security Committee by attending meetings, strategic planning sessions, and various other meetings thereby staying informed as to emerging risks as well as providing compliance reporting as required by regulation or policy.
- Provides quarterly risk reporting to the President/CEO and the Board’s Risk Management Committee an assessment of the Bank’s profile and alignment with its risk appetite, including:
- An independent view of the Ban’s risk profile by reporting significant risk exposures, and monitoring actual risk exposures against the approved Risk Appetite Statement and policy limits;
- Provides the governance oversight for the Risk Management Committee and is responsible for developing the periodic committee agenda, reporting tools, record keeping, action items and all related required governance to insure timely and accurate reporting and historical record of all actions.
- Ensures that a consistent risk management culture exists throughout the organization, which enables management to proactively manage risk and respond to third party inquiries, including regulatory agencies and members for the robust three lines of defense of the Bank’s practices.
- Oversees, facilitates, and serves as an advisor to the Bank’s 1st line of defenses or business risk owners as the 2nd line of defense, regarding the implementation of effective risk management practices. Consults with business risk owners in defining the target risk exposure and structuring appropriate risk management for all matters related to the business’s key products, processes, and functions; risk identification, control structure, and determination of potential financial exposure.
- Manages and leads the RMD by being involved in selecting staff, allocating responsibilities and performance expectations, supervising all activities, training and developing job knowledge and skills, mentoring for short and long term success, reviewing work, conducting performance reviews, providing feedback, recommending compensation adjustments, documenting as appropriate, communicating appropriate company and departmental information. Supports management policies and manages staff in accordance with relevant policies.
- Builds and maintains effective working relationships with other members of the management team, members of the Board, Parent bank, external auditors, OSFI, and other stakeholders.
- Partners with the 1st, 2nd and 3rd lines of defenses (compliance, finance, accounting, fraud prevention, human resources, information technology, and operations) to develop, communicate, and maintain corporate policies and programs directed at monitoring risk.
- Develops, maintains and communicates the Bank’s Risk Appetite Statement (RAS), including:
- Provision of assistance to the Board in defining and articulating the overall risk appetite;
- Establishment of limits that reflect the Bank’s risk appetite, consistent with its overall strategy, risk capacity, mission and governing objectives; and
- Communicating the Risk Appetite to employees to help promote a sound risk culture.
- Ensures compliance with the Bank Act, regulation and expectations which are applicable to the Bank including, but not limited to, the Office of the Superintendent of Financial Institutions (OSFI), Canadian Deposit Insurance Corporation (CDIC).
- Develops and maintains the Bank’s Risk Management Framework (RMF) and related risk governance structure to enable the Bank to effectively identify, assess, measure, manage, monitor and report on risk exposures, including Risk Management Framework and related policies and guidelines to assist management in developing risk taking authority across the Bank. Such framework shall be consistent with relevant regulatory requirements.
- Develops, review and update (where necessary) risk policies for endorsement by the Risk Management Committee and ultimate approval by the Board.
- Develops, maintain and approve all Bank risk management and assessment methodologies.
- Establish Bank-wide processes and coordinate related risk identification, measurement and assessment activities, including those related to emerging risks and change initiatives.
- Provides timely advice to business leaders on the interpretation and application of policies and guidelines.
- Provides oversight over the implementation of the Risk Appetite Statement and Risk Management Framework, including:
- Assesses the adequacy of integration of risk appetite considerations within the strategic financial and capital planning processes.
- Provides independent challenge as a member of management and steering committees.
- Ownership of all credit models.
- Provides objective assessments of the quality and sufficiency of business implementation of the RAS and RMF including business policies, guidelines and procedures.
- Takes a leadership role in the development, implementation, and coordination of the Bank’s risk management function that links together the Bank’s various risk assessment and control processes to determine the level of risk to earnings, capital and reputation to provide practical and actionable risk intelligence and strategic awareness.
- Stays up to date on regulations and trends that affect the banking industry, considers the potential impact on the RMF and RAS, performs risk analyses, and provides early warnings to senior management.
- Oversees audits, reviewing compliance, documenting action plans, defining risk control policies, generating management reporting tools, providing in-house user training, evaluating market trends, and creating IT risk strategy.
- Acts as a guard for protecting the Bank from penalties, securing breaches, lawsuits and investment losses.
- Oversees RMD’s performance of compliance procedures for ALM, Investments, Investment Services, and Member Credit areas to determine compliance with regulations, corporate policies, and departmental procedures.
- Oversees the credit function encompassing the performance of credit reviews and the development of credit risk measures for (non-treasury/agency) investment securities, banks, broker/dealers, counterparties and key vendors. The credit function approves dollar limits (on an initial and on-going basis) and determines which investment securities, banks, broker/dealers, and counterparties that the investment staff may invest in (or with) based upon policy guidelines.
Qualifications and Skills:
- Minimum 10 years of experience as a Risk, Credit, Market or Operational Risk Leader within the banking/financial industry of which a minimum of 5 years of experience in a risk management role.
- 4-Year Bachelor’s Degree; finance, economics, business administration, statistics, or management.
- Master of Business Administration (MBA) or Certified Public Accountant (CPA) or equivalent.
- A Financial Risk Management (FRM) designation preferred, but not required.
- Working knowledge of Canadian Banking practices, risk factors, control methodologies, review and monitoring tools.
- Strong knowledge of Canadian banking and related regulatory requirements.
- Technology Skills Required: Advanced knowledge of Microsoft Office, Word, Excel, Access, PowerPoint, and Outlook. Skills necessary to use complex auditing and statistical analysis software in monitoring risks.
- Change readiness–Positively embraces change adjusting behaviour as necessary.
- Collaboration and Teamwork – Works cooperatively and collaboratively with others internal and external to the Bank to accomplish individual and organizational objectives.
- Communication and Presentation – Conveys information effectively in a variety of settings, applying the best mode of communication for the situation. Experience presenting complex material in a clear and concise manner.
- Continuous learning and improvement – Continually participates in development opportunities to improve personal knowledge, skills, and abilities, as well as the organization’s success and efficiency.
- Creative thinking, problem solving, analytical and mathematically-inclined – Anticipates needs; thinks critically about business issues; addresses problems and issues in innovative ways, analyzes relevant data and weighs alternatives, and chooses best plan of action.
- Ownership/Accountability – Takes responsibility for decision-making and accomplishing objectives within role; demonstrates initiative to enhance value.