Requisition ID: 245578

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Credit Officer contributes to the overall success of the Credit/Risk, Account Maintenance and Financial of Canadian Wealth Management ensuring specific individual goals, plans and initiatives are executed/delivered in support of the team’s business strategies and objectives. They ensure all activities are conducted in compliance with governing regulations, internal policies, and procedures.

Is this role right for you? In this role you will:

• Generate, modify, and interpret various reports to identify accounts that pose credit and market risk to the firm, as well as violate industry and firm policies. Once identified, accounts are analyzed and corrective action such as contacting clients, contacting internal departments and front office staff, placing trades in accounts, etc.is taken to reduce or eliminate risk and ensure firm and industry compliance
• Answer inquiries, explain policies and procedures, approve orders above set limits, update relevant information, and provide guidance to Advisors & Assistants and various internal departments
• Implement and remove trading and banking restrictions in margin, cash, and registered accounts, based on a thorough analysis of the account and trading patterns and activity
• Monitor market activity for security price fluctuations and evaluate accounts holding the position, taking any corrective action as necessary
• Liquidate and purchase securities as required
• Approve and update debit limits for margin accounts less than $500K and cash withdrawals from cash and margin accounts
• Identify and update securities with incorrect loan values in multiple systems and applications
• Complete sundry duties as assigned including compiling and preparing statistics and internal reports, as well as monthly and year end capital requirement reports (regulatory reporting)
• Investigate non-routine problems and discrepancies to determine risk and exposure, and make decisions to minimize financial impact, protect the firm’s reputation, and prevent litigation

Do you have the skills that will enable you to succeed in this role? – We’d love to work with you if you have:

• A minimum of 3 to 5 years’ relevant investment industry experience, preferably with an CIRO member firm, in a relevant functional area (e.g., trading, operations, sales, audit
• College Diploma or University Degree
• Successful completion of the following Canadian Securities Institute (CSI) securities industry courses: Canadian Securities Course (CSC), Conduct and Practices Handbook Course (CPH), Derivative Fundamentals Course, Options Licensing Course is preferred
• Licensed as an Investment Representative with Options is an asset
• Expert level market knowledge to decide how to proceed with account issues
• Expert level knowledge of policies and procedures for decision making and education of support areas
• Working to expert PC knowledge of the following: Versapath (BTS061,191), Thomson One, Bloomberg, OnDemand, MS Office (Outlook, Excel, Access, Word)
• Effective people skills to diffuse difficult situations and solve problems in a calm and rational manner
• Tact, diplomacy, and creativity to deal with internal and external clients, to positively influence the client to settle their debts
• Excellent time management and teamwork skills to accurately accomplish specific tasks within strict deadlines
• Effective verbal and written communication skills
• Strong analytical skills, sound business judgment, and creativity 

Location(s):  Canada : Ontario : Toronto 

Scotiabank 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 click here. 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.