Vice President, Canada Collections

Job title:

Vice President, Canada Collections

Company

Scotiabank

Job description

Requisition ID: 210666Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.PurposeProvides strategic direction, leadership and oversight for the Collection and Recovery efforts for the Canadian Bank retail and small business portfolio, including direct and indirect auto finance and Tangerine, ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures.Accountabilities

• Works with key partners to maximize collection recoveries including realizing on security, revenue generation while minimizing loan losses with a strong customer focus.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment.
• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Implement effective and efficient treatments to achieve agreed collections targets aligned to the PCL and Net Write-Off Plan and business strategy.
• Leverage technology and data to streamline collections workflows, tactics and to track progress.
• Ensure adherence to BNS strategy, risk culture, risk appetite, policies, operational procedures and regulatory requirements.

• Leadership – Lead and direct the development, approval, and execution of strategic plans for the units by:

a. Providing high quality, cost effective, innovative solutions to deliver a seamlessly excellent quality of service, with minimal disruption, to clients and business partners.
b. Developing, implementing and maintaining the ‘best-in-class’ customer service standards, policies, processes, programs and procedures, adjusting to market trends and business partner requirements.
c. Embedding effective behavioural skills and techniques within the groups to create a performance and a customer service driven culture.
d. Developing strategic relationships within and outside the organization to manage change effectively and to maintain expertise and knowledge of industry.
e. Developing strategic partnerships with key internal and external partners to promote a consistent employee experience that balances the needs of the employee and the Bank.
f. Providing ongoing feedback to GRM and business to optimize originations and client experience.

• Business Strategy – Lead the development of strategic direction for the Bank’s Collections and Recovery functions by:

a. Keeping abreast of top, latest, industry trends and opportunities related to technology and process.
b. Initiating/recommending integration of automation and technology or reorganizations/projects within Collections and Recovery units supporting the Bank’s overarching framework and strategic objectives.
c. Monitoring external and internal leading indicators on behalf of the Bank and recommending the reengineering of processes and practices to improve debt recovery and gain operational efficiencies.

• Operational Management & Improvement – Lead the development and implementation of key initiatives to strengthen Collections and Recovery operational effectiveness, improve productivity and reduce costs, while strengthening efficiencies by:

a. Developing and implement best-in-class collections practices and consistent process execution from the earliest stage of delinquency through to account finalization/receivable management.
b. Ensuring the Collections and Recovery units are in operating adherence to regulatory compliance reporting, including OSFI, Government legislation, audit and code of conduct.
c. Maximizing account rehabilitation through effective & rigorous account/customer management through the streamlining and integration of top calls automation and technology.
d. Ensuring adherence to credit risk policies and strategies as well as maintaining a strict adherence to Bank and Unit security procedures with respect to assigned authorities and responsibilities. Report any unusual occurrences or fraudulent activity.
e. Managing outsourcer agreements, including negotiation of contracts and contracted service level agreements.
f. Exploring all viable business opportunities such as outsourcing, in-sourcing and near-shoring.
g. Directing the development of system applications and workflow solutions that will support the creation of the Bank’s Collections and Recovery Centre of Excellence while achieving FTE savings from process improvements and/or reorganization.
h. Controlling the business objectives ensuring operational effectiveness through efficient and effective Customer Contact workflows, meeting commitments to Customers, and adhering to custody and security policies.
i. Maintaining the integrity and confidentiality of Bank and Customer information under the rules and regulations as set out in the Bank’s Privacy Code.Education / Experience / Other Information

• Undergraduate degree in Business, Accounting, Finance, Operations
• Minimum of 7-10 years of banking experience preferably in Recovery and Collections, direct experience in prime and non-prime financing required
• Excellent communication skills, with strong negotiation and strategic influencing skills
• Expert knowledge of debt recovery legislation, policies, practices across all markets
• Expert knowledge of risk management, collections practices and strategic planning
• Good understanding and awareness of strategic and tactical business planning and executional issues/processes
• Results focused to identify and act on any issues/concerns/processes in a timely matter
• Strong leadership/change management skills.
• Strong management skills and proven ability to successfully to evaluate options/alternatives, develop solutions/recommendation, deliver/implement/communicate/execute initiatives
• Strong understanding of the business line: credit cards, automotive retail and small business and the associated Net Write-Offs and PCLs
• Expert knowledge of Bank’s products, policies and services
• Understanding of the Bank’s business plans and objectives
• Thorough knowledge of external marketplace(s)

Location(s): Canada : Ontario : TorontoScotiabank 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 . 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.

Expected salary

Location

Toronto, ON

Job date

Wed, 13 Nov 2024 23:57:48 GMT

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