Senior Credit Risk Manager

We are a leading financial services provider committed to making decisions easier and lives better for our customers and colleagues around the world. From our environmental initiatives to our community investments, we lead with values throughout our business. To help us stand out, we help you step up, because when colleagues are healthy, respected and meaningfully challenged, we all thrive. Discover how you can grow your career, make impact and drive real change with our Winning Team today.

Working Arrangement

Hybrid

The role of the Credit Risk Department is to support Manulife Bank in all credit risk management aspects. Responsibilities of the Department include regulatory and senior management reporting, the setting of loan loss reserves, independent loan review and the development and enforcement of credit policies. The Department also collaborates with and serves as the Bank’s primary contact and resource for Manulife Credit Risk Management. Also, the Department manages credit traffic and adjudicates credit subject to prescribed delegated lending authority limits. Finally, the Department serves as a credit-related resource to a number of Bank departments.

The incumbent reports to the AVP, Specialized Lending Credit Risk Management and has the primary responsibility to approve or decline credit applications in accordance with delegated lending limits and the company’s established credit risk appetite and tolerances. Provide appropriate and realistic recommendations and develop action plans outlining corrective actions to be taken to mitigate risk and exposure. The Senior Manager, Credit Risk is responsible for ensuring compliance with credit policies and practices.

Key Accountabilities

Individual Accountabilities:

• Exercise discretionary lending limits as delegated to approve credit risk ratings and decision credit applications. Review and analyze specialized lending loan and mortgage applications, together with supporting documentation, to ensure compliance with the company’s policies, guidelines and regulatory requirements.
• Ensure the analysis is independent, accurate and thorough and recommendations address issues and exceptions that mitigate the company’s risk and exposure. Maintain the quality of the credit portfolio under your jurisdiction to ensure the portfolio performs within the company’s established risk appetite and applicable regulatory requirements. Minimize loan losses by performing sound credit analysis and adjudication. (85%)

Key Shared Accountabilities

• Prepare credit proposals above delegated lending limits for approval by the appropriate individual, committee or Board of Directors. (5%)
• Collaborate and act as a liaison between the various business partners to further success of the risk partnership. Suggest changes to the structuring of transactions to strengthen the company’s position in case of default. Provide advice and guidance to colleagues on credit risk issues. (5%)
• Support the internal and external audit process as directed by the AVP, Specialized Lending Credit Risk Management and liaison as appropriate with various stakeholders and regulators. Ensure satisfactory audits from internal and external sources. (5%)

Job Requirement

Must have

• Prior experience decisioning credit with an active designated lending authority.
• Minimum 5 years of progressive credit risk, underwriting and adjudication experience within commercial lending and commercial lending products, (especially small business market as well as commercial mortgages.).
• University degree in Business or Finance.

Nice to have

• MBA/CFA/CPA
• Knowledge of the Canadian insurance industry, leverage loans and insurance policy lending.
• Bilingual in English/French.

Competencies

• Must possess strong analytical and problem-solving skills and the ability to assimilate and interpret analyses and trends in order to reach conclusions regarding the type and magnitude of risk associated with various clients, industries and products.
• Strong communication skills.
• Highest level of professionalism, self-motivation and sense of urgency with the ability to work successfully with minimal supervision.
• High proficiency with Microsoft Office applications.
• Demonstrated collaboration expertise with the proven ability to foster positive and productive outcomes to ensure adverse credit decisions are addressed professionally, effectively and efficiently.

Decision Authorities

• Personal delegated lending authority as assigned.

Key Leadership Behaviors

• The role will need to communicate and interact effectively with various business units within Manulife Bank as well as senior management at all levels of the organization.

Key Performance Goals/Measurement

• Key Metrics: Loan losses; SLA ; Portfolio quality.
• Organizational Assumptions: The role will proactively drive change, enhance the Credit Risk Management oversight function and help to further strengthen the risk based culture within Manulife Bank
• Financial Targets: N/A

Working Condition: (If applicable, list the working condition in the terms of Travel Requirement, Physical Labor Requirement, Concentration Requirement and Visional Requirement)

• Standard office- based job, requires long hours working on a computer.
• Required to work in the Oakville office – Hybrid role.

About Manulife And John Hancock

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Asia, Canada, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2022, we had more than 40,000 employees, over 116,000 agents, and thousands of distribution partners, serving over 34 million customers. At the end of 2022, we had $1.3 trillion (US$1.0 trillion) in assets under management and administration, including total invested assets of $0.4 trillion (US $0.3 trillion), and segregated funds net assets of $0.3 trillion (US$0.3 trillion). We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact [email protected].

Salary & Benefits

The annual base salary for this role is listed below.

Primary Location

Toronto, Ontario

Salary range is expected to be between

$82,500.00 CAD - $148,500.00 CAD

If you are applying for this role outside of the primary location, please contact [email protected] for the salary range for your location. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact [email protected] for more information about U.S.-specific paid time off provisions.