Posted:September 19, 2019
Our client, a goal of being the best foreign bank in Canada, are continuing to grow and are looking for a motivated Senior Manager, Credit Risk and Loan Review Oversight to join their Bank.
Since 1981, our client has been committed to providing excellence to our clients boasts an extensive overseas network with more than 1200 offices in 25 countries. Our 9 branches in Canada serve the cities of Toronto, Calgary, Vancouver, Burnaby, Coquitlam, and Richmond.
- The Loan Review Officer (LRO) performs independent monitoring and assessment of the lending function of the Bank
- There are currently two LRO’s for the Bank – one who leads the function and is assigned to cover 6 branches in the GTA (currently Main, Bloor, Thornhill, Richmond Hill, Mississauga and Bayview) and another who is assigned to cover the 5 Western Canadian branches (currently Vancouver Downtown, Burnaby, Richmond, Coquitlam and Calgary)
Roles and Responsibilities
- Oversee the quality of loans existing in the Branch portfolios in order to preserve and to protect soundness of the Branch assets
- Oversee the consistency of lending practices and documentation with related bank policies, guidelines and procedures
- Provide observations regarding portfolio risk and individual Branch Reports to Branch management and Credit Department
- Identify potential areas that require more scrutiny and notify Credit Department to ensure they receive additional scrutiny
- Make recommendations for enhancement to bank policies, guidelines and procedures based on observation of actual practices
- Assess the adequacy of application of loan policy exceptions, including identification, monitoring and reporting
- Plan and oversee of work completed by the Loan Review Officer for the western branches
- People management responsibilities for the Loan Review Officer for the western branches
Onsite Branch Reviews and Reporting
As per the Loan Review Procedures, perform scheduled loan review portfolio examinations (and produce Loan Review Reports on individual credit exposures) during the calendar year including assessing the quality of Commercial and Retail loan quality on an individual credit and portfolio basis. Evaluate the quality of underwriting of Loan Applications to ensure compliance with Loan Policies and Guidelines. Advise Branch Management, Credit Department and Internal Audit of Findings & Recommendations. This includes designing an appropriate sampling methodology.
- Prepare the Bank Wide Loan Review Report and Branch Loan Review Reports (on a semi-annual basis) and report to the Loan Review Committee (LRC) and Risk Management Committee (RMC) on a quarterly basis. Provide a copy of the reports to the Branch Management for their reference and Individual Loan Review
- Analysis of financial statements and tax returns for trends and repayment capacity of borrower and/or guarantor
- Analysis of collateral and loan documentation
- Analysis of borrower’s individual portfolio (Personal Net Worth)
- Assessment of the appropriateness of the risk rating assigned
- Perform any ad hoc or targeted portfolio examinations or reviews as requested by the Chief Risk Officer, Chief Internal Auditor or Executive Management
- Complete monthly desktop reviews of recent credit approved transactions to confirm assigned risk ratings and compliance with the Bank’s credit policies, guidelines and procedures
- Review problem loans and discuss with the Credit Department for additional scrutiny. Assess the Branch credit exposures for Early Warning Signals (EWS) and monitor corrective action plans and performing status
- Identify exceptions to the Bank’s Loan Policies, Guidelines & Procedures and banking laws and regulations and monitor corrective actions taken by the Branch/Credit Department
- Implement and maintain the Loan Review Procedures document
- Provide all reports related to loan review including significant findings and related recommendations, assessing the effectiveness of risk ratings, adherence to underwriting and credit policy standards, and monitoring; obtaining appropriate management action plans; and distributing reports and action plans to the appropriate levels of management
- Assess the adequacy of the Bank’s individual allowances for credit losses
Coordinate Loan Review Committee Meetings
- Prepare and administrate Loan Review Committee meeting
- Report LRO’s activities
- Report management on branch’s follow-up
- Design and implement an appropriate methodology for measuring branch performance semi-annually as part of Branch scorecard
- Administrate Loan Review System (KIBS)
- Provide knowledge transfer to improve underwriters’ technical knowledge, skills and abilities
- Maintain current and strong industry knowledge of areas assigned, including applicable OSFI guidelines and requirements
- Establish and maintain positive and constructive working relationships with other departments (including Parent Bank personnel), loan officers, OSFI and internal and external auditors
- Support management and Risk Management Department colleagues as needed
- Follow the Bank’s Information Security policies, ensuring the processing and handling of all client and confidential bank information are done in a secure manner
- Complete any other job related duties as assigned by the Chief Risk Officer
- Minimum 10 years of experience in a credit risk management position within a Canadian federally regulated financial institution.
- Experience assessing the quality of underwriting practices for residential and commercial mortgages as well as other retail and commercial loans.
- Extensive knowledge of Canadian regulatory requirements for federally regulated financial institutions
- University Degree required
- Financial Risk Management (FRM) designation preferred but not required.
- Technology Skills required: advanced knowledge of Microsoft Suite of products.
- Conceptual thinking, problem solving, and analytical skills
- Teamwork and collaboration – works cooperatively and collaboratively with others to accomplish individual, team and organizational objectives
- Communication and Presentation – synthesizes and conveys information effectively in written and verbal form, including presenting complex material in a clear and concise manner
- Adaptability to changing environment
What You Need To Know
Must be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work permit that allows the candidate to fulfill the requirements of the role.
Equal Employment Opportunity
Our client is an equal opportunity employer and it is the Bank’s policy to recruit and select applicants for employment solely on the basis of their qualifications with emphasis on selecting the best qualified person for the position. Only qualified applicants will be contacted. Our client thanks all applicants for their interest.