Director, Risk Management & Credit Control — Scotiabank


  • Full Time
  • Anywhere



Scotiabank is a premier financial institution and Canada’s most international bank recognized as a Best Workplace®, in Canada, Mexico, El Salvador, Costa Rica, Puerto Rico, Dominican Republic, Panama, Peru, and Latin America by the Great Place to Work® Institute.


Director, Risk Management & Credit Control


Toronto, ON


As the Bank’s ultimate expert in global trade finance risk matters. the Director, Risk Management & Credit Control contributes to the profitability by:

  • Overseeing the analysis, approval/documentation and mitigation of credit, transactional and operational risk on complex trade transactions referred to the department
  • Directing the development, implementation and maintenance of sound trade finance risk policies, operating procedures, and documentation standards
  • Overseeing the credit allocation process on individual trade finance (bank risk) transactions and for trade transactions involving cross-border risk.

1. Provide direction, risk management guidance and authorization to domestic and international locations on complex trade finance and financial institutional transactions by:

  • Ensuring an acceptable level of risk by evaluating and adjudicating on the structure, format, processing and execution of referred complex/unusual trade finance transactions and Letter of Credit/Guarantee structures/formats
  • Evaluating, assessing and authorizing documentation, payment, legal and reputational risks on referred transactions and providing guidance to staff on the issues inherent in the transactions
  • Interceding and assuming the role of lead mediator, as required, with in-house/outside legal counsel, Financial Institutions and their customers to independently resolve highly complex, multi-faceted issues in trade finance; taking final decisions with respect to transaction risk, structure and process to protect the Bank’s interests
  • Providing specialized technical expertise/consultation and guidance, as requested, on complex and conceptual issues in trade finance, including legal and regulatory requirements, to domestic and international Senior Executives including foreign subsidiaries and affiliates, Global Risk Management, Scotia Capital, Commercial Banking, International Banking
  • Overseeing the allocation of Financial Institutions trade finance credit facilities, ensuring they are managed within country limits and ensuring adherence to established control processes and limits

2. Direct the research, development, implementation and maintenance of trade finance risk related policies and operating procedures for Domestic and International branches/Trade Service Units with respect to Letters of Credit, Guarantees and Collections by:

  • Maintaining a strong understanding of changes in, and emerging issues related to, the regulatory environment and potential impact on TS&FI by reviewing/monitoring/interpreting/ analyzing on-line International Chamber of Commerce (ICC) legal cases, precedents, other international opinions, legal trends, international trade fraud incidents
  • Reviewing existing TS&FI policies and operating procedures in relation to trends to ensure they continue to adequately protect the Bank’s interests and prevent/mitigate reputational/legal exposure on critical transactions (e.g. Syndication/Risk Participation Agreements)
  • Overseeing/ensuring the Bank’s operational manuals (i.e. Loan Manual, Trade Service Unit Handbook) are maintained to accurately reflect the Bank’s trade finance policies and operating procedures

3. Ensure the unit delivers excellent and consistent customer service to all domestic and International branches, subsidiaries and affiliates, trade processing centres and trade services centres by:

  • Ensuring documentation queries from other business line partners (domestic and global) are answered by the unit correctly, in a timely fashion and in a manner that minimizes risk to the Bank
  • Effectively influencing and resolving customer issues and/or disputes while dealing with financial institutions, internal partners and lines of business
  • Building and maintaining relationships with key stakeholders including domestic and international offices, Senior Executives, foreign subsidiaries and affiliates, Global Risk Management, Corporate Banking, Commercial Banking, GTB, and internal/external legal counsel

4. Set trade finance documentation standards relative to LCs and Guarantees as well as in relation to GTB TS&FI’s Risk Participation Initiative and other risk distribution activities by:

  • Reviewing relevant market and industry standards, legal and other precedents as applicable, as well as ICC and other rulings to determine and implement optimal global documentation formats and templates
  • Providing guidance to direct reports relative to the authorization of documentation such as Master Risk Participation Agreements and other risk distribution documentation (including risk mitigation / insurance master policies) referred for review and approval
  • Responsible and ultimately accountable for documentation guidance/authorizations supporting the successful roll-out of TS&FI’s global Risk Participation Initiative, ensuring harmonization of documentation standards globally

5. Lead by example in the management of human resources to support business objectives by:

  • Leading, coaching and training direct reports with the aim of continuously improving the level of trade finance knowledge
  • Contributing to and/or conducting training internally as required to disseminate relevant trade finance information and knowledge beyond the immediate team
  • Contributing to and/or taking a leadership role in TS&FI projects as they arise and encouraging team-members and direct reports to do likewise
  • Representing the Bank at trade finance seminars and at the International Chamber of Commerce (ICC) and other trade industry organizations, as relevant


  • Extensive practical experience at a senior level in trade finance operations, especially in transaction risk management, is critical.
  • Expert knowledge of customs and practice with regard to international trade, specifically Commercial and Standby Letters of Credit, Guarantees, Documentary Collections and terms of sale and payment.
  • Expert knowledge of the laws and regulations governing trade finance and financial institutional transactions and the International Chamber of Commerce rules and regulations; ability to read and comprehend legal case material, legal opinions and legal trends on ICC, DC PRO, case opinions, etc.. Must be able to interpret policy and International Rules and Regulations in order to adjudicate on the format/structure of complex transactions
  • Expert knowledge of TS&FI products, policies, procedures, operating systems, and the Bank’s risk management structure and practices
  • Well-developed decision-making and problem-solving skills for fast and effective transaction analysis and decisions
  • Excellent interpersonal skills and communication skills (written and verbal) with internal/external stakeholders having different priorities; strong negotiation/mediation skills to lead mediations with stakeholders; strong relationship building skills to build and maintain productive relationships at a senior level within the Bank and with internal and external legal counsel across the world.
  • Excellent organizational and time management skills to deal with multiple and sometimes conflicting demands and time constraints for last minute approvals on transactions


  • Post graduate degree in business or economics supplemented with trade finance experience
  • Legal designation would be an asset

Scotiabank is an equal opportunity employer and welcomes applications from all interested parties. We thank you for your interest, however, only those candidates selected for an interview will be contacted. No agencies please.




About the author

Author: Jobs Admin

If you would like to post an available job opening please send a description of the job requirements along with contact details of the recruiter/employer to

disqus comments

Leave a Reply

Your email address will not be published. Required fields are marked *