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Director, Commercial Automotive

Scotiabank

This is a Contract position in Toronto, ON posted January 5, 2021.

 

 

 

Requisition ID: 94044

Join the Global Community of Scotiabankers to help customers become better off.

 

 

Purpose

 

 

The Director, Commercial Automotive is responsible for maximizing revenues, profitability, growth, ROAC, market share and competitiveness of the Bank’s Commercial Automotive business and Commercial Auto partnership(s) for credit and non-credit deposit, fee and investment products.

The Incumbent is responsible for the strategic direction and ongoing management of the complete value chain (Product, Pricing, Delivery, Dealer Satisfaction) for the Bank’s Domestic Commercial Automotive business to achieve strategic business objectives.

 

 

Accountabilities

 

  1. Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

 

  1. Commercial Automotive Product and Program Development

Responsible for identifying and managing the implementation of business opportunities for all Commercial Automotive Finance products that will gain market share, increase revenue, profitability, ROAC, improve delivery systems and optimize costs by:

  • Identifying new Commercial Automotive business opportunities;
  • Developing, negotiating and implementing policies, procedures, delivery and pricing for Commercial Automotive programs to meet growth and profitability objectives;
  • Directing the process of product development and management to ensure competitive and profitable products;
  • Assessing the extent and nature of product demand by contracting market research surveys and / or discussions with DFC customers;
  • Developing and presenting business proposals to and negotiation with Global Risk Management-Canadian Commercial Credit Automotive (GRM-CCC) on new products / programs and enhancements to existing products to obtain risk authorization prior to launch;
  • Negotiating Floorplan Insurance renewal with Insurance and Brokerage Executives on an annual basis to ensure competitive renewal terms and conditions.  Understand market forces related to Floorplan Insurance and negotiate individualized dealer terms with the Floorplan Insurance broker.  Drive increased revenues for Floorplan Insurance through ongoing interaction and contact with Floorplan Insurance broker and DFC Commercial staff;
  • Managing Commercial Automotive business to agreed service levels, customer satisfaction, profitability and growth objectives;

 

  1. Develop and Manage Captive/Manufacturer Partnerships

 

  • Overseeing management of the Bank’s existing partnership with a focus on strategic relationship requests including process adjustments, product requests, program enhancements, feature additions, and marketing programs;
  • Identification of new Captive business opportunities to gain market share, increase revenue, profitability and improve delivery systems and optimize costs;
  • Manages strategic partnership with senior Auto Captive management
  • In conjunction with the Vice President Manufacturer Partnerships, Dealer Products & Programs, negotiating contracts, identifying and recommending partnerships or alliances to achieve financial goals, where appropriate.
  1. Financial Management

The Director is responsible for achieving revenue, profitability and ROAC targets while adhering to authorized budgets by:

  • Establishing sales and revenue forecasts, standard profitability measures and objectives for each Commercial product including setting standard prices, profitability performance measures and recommending discounts;
  • Negotiating supplier contracts, recommending outsourcing options where better cost efficiencies can be realized, identifying and recommending partnerships or alliances to achieve financial goals, where appropriate.

 

  1. Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

 

  1. Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk.  Including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
  2. Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vison / values / business strategy and managing succession and development planning for the team.

 

 

Job requirements

 

  • A post-secondary educational background in marketing or business management is mandatory and a graduate University business degree is preferred.
  • Automotive Finance or Automotive OEM experience is an asset
  • 7+ year experience in Account and Product Management

 

 

The position demands strong skills in:

 

  • Market research, product planning and product development;
  • Project management skills are important as the incumbent performs a crucial liaison function with department and division management, legal, systems, operations, marketing and advertising personnel to develop, implement and administer product plans for new and existing services that match operating capabilities with market needs;
  • Selling and negotiating at senior executive management levels to develop, operationalize, and manage the implementation of new and existing Commercial Automotive programs;
  • Selling to senior Bank executive, field staff, one-on-one by phone or in person and to groups; in order to persuade, sell, coach, resolve problems, determine current and future customer needs and product opportunities and achieve strategic business goals.

 

Key knowledge requirements include:

 

  • Strong knowledge of the business risk and credit risk relating to existing and proposed products;
  • Strong knowledge of the Bank’s Dealer Finance delivery system, banking and branch / alternate delivery operations and the Bank’s existing credit and non-credit services;
  • Strong knowledge of the Dealer Finance business and competitor offerings in the Canadian market and knowledge of U.S. markets;
  • Strong knowledge of the manufacturer and dealer industry in Canada and knowledge of the U.S. industry;
  • Sound knowledge of new product developments within the automotive market sector within Canada and knowledge of the U.S.;
  • Sound understanding of the Bank’s project management, profit planning, budgeting and financial reporting processes;
  • Thorough Business Case preparation skill to gain approval from Senior & Executive management for new products and programs;
  • Sound understanding of contracts, agreements, insurance policies and other legal documents.

 

Working conditions

 

  • Work in a standard office-based environment; non-standard hours are a common occurrence.  Limited travel

 

 

Location(s):  Canada : Ontario : Toronto 

As Canada’s International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. Our employees are committed to a superior customer experience and use the Bank’s six guiding sales practice principles to ensure they act with honesty and integrity.

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.