[Hiring] Director, Credit Risk @League Savings and Mortgage

Role Description

League Savings and Mortgage is currently accepting applications for the role of Director, Credit Risk. This integral role provides second-line-of-defense oversight for the credit function and is primarily responsible for the adjudication and ongoing monitoring of LSM lending portfolios. The incumbent identifies emerging risks within business operations, establishes the credit risk management framework, and sets appropriate credit risk standards. They monitor, analyze, and report on credit risk and portfolio performance, recommending changes to credit policies, risk appetite, and underwriting procedures as appropriate. The role is responsible for overseeing portfolio quality and ensuring compliance with applicable regulations and industry concentration limits. Additionally, the incumbent develops and maintains credit risk policies to optimize risk management while operating within the company's approved risk appetite.

Responsibilities

• Credit Risk Management Framework Management and Maintenance
  • Ensures the strategic direction for credit risk management practices is within the risk tolerances and growth objectives established by the LSM Board and Executive Management to optimize risk.
  • Monitoring and reviewing OSFI credit guidance and ensuring LSM meets OSFI requirements.
  • Identifying, developing, maintaining, amending and communicating credit risk policies, procedures and processes, including lending criteria and risk rating models.
  • Working with departments and Asset Liability Committee (ALCO) and Management Credit Committee to implement strategy for the development of practices to improve efficiency and effectiveness of credit risk processes.
  • Participating in the assessment of new business line opportunities to provide analysis of credit risk factors.
  • Conducting industry reviews and recommending industry concentration limits.
  • Performing sensitivity analysis to assess how economic trends may impact portfolio performance and credit risk.
  • Performing credit portfolio stress testing to ensure capacity to withstand unforeseen specific events.
• Credit Risk and Portfolio Quality Monitoring
  • Assesses appropriate management of loan portfolios and adequacy of specific loan loss provisioning.
  • Ensuring appropriate lending criteria and procedures are in place and being adhered to.
  • Monitoring the effectiveness of lending process by conducting post approval reviews.
  • Reviewing the quality of the credit portfolio as measured by key performance indicators.
  • Collaborating with departments to establish key performance indicators within the credit risk tolerances.
  • Providing guidance to departments in the management of problem loans.
  • Assessing specific loss anticipated on impaired accounts.
  • Reviewing loan, mortgage and lease write-offs.
  • Reviewing business unit reporting on status of credit quality and performance of the portfolio.
• Quality Assurance Reviews
  • Plans, performs, documents, and communicates results of quality assurance reviews for approved agents and suppliers.
• Performance Reporting and Recommendations
  • Provides performance reporting and recommendations to the Executive Leadership Team and the Board on the condition of the credit portfolio.
  • Reviewing and providing assessments on portfolio quality, trends, diversification, concentration and adherence to regulatory/ internal credit risk policies.
  • Assessing large exposures and specific industry concentrations from a credit risk perspective.
  • Conducting assessments of credit adjudication processes and providing comments.
  • Providing performance reporting on the credit portfolio with recommendations and strategy.

Qualifications

• Bachelor's degree in Finance, Business Administration, or Commerce (Major in Urban Land Economics considered an asset).
• Minimum of 6 years' senior level experience in credit risk management, policy development, and credit analysis.
• Minimum of 10 years' credit experience with proven skills in commercial lending, real estate lending, leasing, residential mortgage lending, retail credit, loan recovery and bankruptcy/insolvency processes.

Requirements

• Core Skills:
  • Portfolio Management
  • Commercial Lending
  • Credit Analysis
  • Credit Risk

Benefits

• Flexibility and balance, working from home.
• Working with a strategic, knowledgeable and community-focused team.
• A permanent full-time leadership position with an annual salary range of $136,235- $160,276.
• Competitive, performance-based incentives.
• Competitive benefit package including a Flexible Health and Dental Plan.
• Group Savings for Retirement Options up to 8% of base earnings with TFSA option.
• Matching GSRP contribution by the Company.
• Generous paid time off including Me Time, Vacation, Sick Days, and Volunteer days.
• Tuition reimbursement, training, and personal development.
• Perks such as reduced rates on employee loans/mortgages, plus wellness and social committees.

Company Description

League Savings & Mortgage (LSM) is a credit union–owned financial institution serving Atlantic Canada. Since 1966, we have partnered with credit unions to deliver a broad range of competitive financial products and services that support their growth and success.

We are proud to be a Certified B Corporation, part of a global movement of using business as a force for good. This means we are committed to making business decisions that benefit our employees, credit unions and the communities they serve.