Associate, Corporate Banking, Financial Institutions Group

Requisition ID: 270256

Salary Range: 145,000.00 - 165,000.00 

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

Associate, Corporate Banking, Financial Institutions Group
 

Global Banking and Markets
Global Banking and Markets (GBM) is a leading Capital Markets and Investment Banking platform with a  competitive presence across the Americas, operating globally over 100 years. Scotiabank’s strong US presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.

Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group including transaction banking and trade finance solutions.

Be part of an innovative Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition to every future!

Purpose:

• Support relationship managers with all facets of the management and growth of the Financial Institutions Group portfolio, including insurance, bank, asset manager, specialty finance, payment, fintech, and other financial services clients.
• Work closely with the team to provide customized financial solutions that are aligned with the risk-return profile of the Bank.
• Help manage all credit-related activities including drafting credit presentations, building and maintaining financial models, assessing borrower financial performance and capital structure, negotiating loan documentation, and updating systems with key credit details.
• Monitor industry trends and client performance and activities.  
• Contribute to the overall success of the U.S. FIG team and it’s strategic business objectives, including the growth of multi-product client relationships and the prospecting of new names.  
• Ensure all activities are conducted in compliance with governing regulations, internal policies and procedures, including credit adjudication standards, documentation requirements, KYC/AML expectations and portfolio monitoring protocols.

What You’ll Do:

Accountabilities: 

• Support a client centric culture leveraging broader Scotiabank relationships, systems, and knowledge to deliver solutions that the Bank can provide across its footprint
• Analyze, process, and execute credit requests
• Research credit and bank product requirements of existing and prospective clients
• Structure, analyze, and perform due diligence to facilitate prompt execution of transactions that vary in complexity
• Develop recommendations for the appropriate course of action based on analysis, internal credit policies/procedures, and the Bank’s risk appetite
• Review loan documentation and update internal systems with pertinent transaction/facility details and conduct regular monitoring of credits/client relationships via annual and quarterly reviews
• Provide day-to-day account management support for a portfolio of client relationships and ensure credit files, agreements, security documents and KYC requirements are complete and up to date
• Broaden, industry, sector, and Bank product knowledge to identify trends and ancillary business opportunities
• Lead and facilitate client onboarding for various lending and non-lending products
• Assist with various ad-hoc tasks including conducting industry reviews, validating/providing internal compliance documentation, and updating internal reports for management
• Track client and portfolio activity utilizing Salesforce and other internal systems
• Prepare and compile various reports to assist with managing the U.S. FIG business, including, annual budgeting, monitoring risk limits, and relationship/portfolio return metrics vs. plan
• Prepare and maintain financial models, projections, covenant analysis, downside / sensitivity cases, debt capacity analysis, and relationship return models to support credit decisions and portfolio management
• Draft and contribute to credit memoranda, and transaction approval materials, including clear articulation of business rationale, key risks, mitigants, financial performance, leverage, liquidity, regulatory capital considerations and proposed risk ratings
• Review credit agreements, term sheets and amendments to ensure key economic, financial covenant, negative covenant, reporting, guaranty, security, collateral and ranking provisions are consistent with approved credit terms and the Bank’s risk appetite
• Monitor borrower and sector developments, including rating agency actions, regulatory changes, earnings releases, capital and liquidity trends, M&A activity, and market developments relevant to FIG credit risk

Client Focus:

• Assist with client relationship management by efficiently addressing client requirements and contributing to relationship building activities - Client Profitability Models, Pitch Book preparation, meeting planning and follow-up, and product partner engagement
• Support prospecting efforts through the creation of Tear Sheets and other origination efforts
• Maintain a professional approach with all client interactions, demonstrating strong business acumen 
• Establish and maintain an effective network of internal stakeholders to support client management 

Product Expertise:

• Working knowledge of lending facilities and other financial products/services, including Capital Markets, Derivatives, and Global Transaction Banking 
• Solid understanding of the U.S. Financial Institutions industry
• Experience with reviewing and negotiating credit and legal documentation 
• Financial modelling skills and accounting knowledge
• Ability to interpret FIG-specific financial statements and credit metrics, including leverage, tangible common equity, statutory capital, risk-based capital, liquidity, asset quality, investment portfolio risk and cash flow generation, as applicable by subsector
• Working knowledge of credit products and structures relevant to FIG clients, including revolving credit facilities, term loans, letters of credit, acquisition financing, liquidity facilities, foreign exchange and derivatives exposure and capital markets solutions

Teamwork:

• Flexible to demands of work and viewed as a valuable team resource 
• Promote cooperation, teamwork, and professional internal and external relationships
• Engage effectively with internal stakeholders to drive client relationships
• Demonstrate a strong personal commitment to individual development
• Positive engagement with all U.S. FIG team members, supporting a culture of teamwork and belonging 

Results Focused:

• Ability to maintain a detail-oriented approach - multi-tasking and the prioritization of workload is essential
• Strong time management skills to achieve tight timelines and established objectives with less direct oversight 
• Openness and ability to learn new concepts/processes and expand knowledge base
• Develop the skills in order to lead the underwriting process and close transactions independently
• Develop the ability to independently identify key credit issues, recommend appropriate structures, covenants and risk mitigants, and defend credit recommendations with clear financial analysis and well-supported modelling outputs

Leadership and Development:

• Demonstrate leadership qualities, and strategic thinking skills
• Contribute to a team environment that (i) is focused on the Bank's strategic priorities, (ii) is entrepreneurial in nature, and (iii) has independent/diverse views
• Foster and personify a culture of inclusion and diversity
• Follow internal compliance practices and act ethically at all times

What You’ll Bring

• Strong credit, structuring, and financial analysis skills 
• Knowledge of Capital Markets products 
• Self-motivated, results focused, team player with strong learning ability
• Strong written and verbal communication skills
• Previous banking or credit analysis experience preferred, including advanced Excel financial modelling skills - three-statement modelling, debt schedule construction, covenant calculations, scenario / sensitivity analysis, liquidity analysis and return modelling
• Demonstrated ability to prepare credit memoranda, transaction approval materials and portfolio monitoring updates for corporate banking, financial institutions or leveraged / structured finance transactions
• Familiarity with FIG subsector credit considerations, including insurance company statutory reporting / capital, bank capital and liquidity metrics, asset manager earnings quality, specialty finance asset performance and regulated entity risk considerations
• Superior organization skills and multi-tasking abilities
• MBA, CFA or CPA designation preferred
• Excellent computer skills (Excel, Word, Power Point, Access)
• Obtain and maintain required FINRA registration and licensing appropriate for the function/role 

Interested?
At Scotiabank, every employee is empowered to reach their fullest potential, respected for who they are and, embraced for their differences. That’s why we work to grow and diversify talent and engage employees in a performance-oriented culture.
 

What's in it for you?
Scotiabank wants you to be able to bring your best self to work – and life, every day. With a focus on holistic well-being, our many flexible benefit programs are designed to help support your unique family, financial, physical, mental, and social health needs.

Location(s):  United States : New York : New York City

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.

Scotiabank is an equal opportunity employer.  We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by federal, state, or local law.