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About the Role

The Director, Head of Underwriting and Portfolio Management, is a senior leadership role within the Commercial Real Estate Finance (CREF) platform, responsible for overseeing the underwriting, structuring, and portfolio management of CRE loans. This position will collaborate with various internal stakeholders to deliver financing solutions while ensuring adherence to the Bank’s risk appetite, policies, and regulatory requirements. The successful candidate will possess deep expertise in commercial real estate credit, structured finance, and CMBS markets, contributing strategically to the growth of Scotiabank’s CREF platform.

Responsibilities

Lead the underwriting and structuring process for commercial real estate transactions across a broad range of property types and markets throughout the United States and select North American markets, providing expert judgment on credit risk factors and structuring recommendations.
Conduct thorough credit risk assessments, including the evaluation of borrower creditworthiness, property value, cash flow projections, business plans, and market conditions.
Oversee due diligence efforts, including appraisal, engineering, environmental, insurance, legal, and market reviews, both internally and with third-party vendor support relationships.
Enforce credit risk policies and procedures specific to commercial real estate, ensuring alignment with regulatory requirements and best practices.
Work closely with Originations, Capital Markets, Credit Risk Management, Transaction Management, Securitization, Legal and senior management to ensure that credit and execution considerations are appropriately incorporated into business decisions.
Monitor commercial real estate market trends, economic conditions, capital market activity, and property performance to identify risks and opportunities across the portfolio.
Oversee portfolio monitoring and asset surveillance activities, including the identification and escalation of emerging risks, portfolio trends, and concentration exposures.
Oversee and manage a portfolio of commercial real estate loans, ensuring that risk exposure remains consistent with approved risk appetite and portfolio objectives.
Monitor active pipeline activity, closing forecasts, and transaction metrics to support business planning, resource allocation, and production goals.
Mentor, train and develop underwriting and portfolio management professionals.
Contribute to the development and enhancement of underwriting standards, execution processes and portfolio management and risk management practices.

Requirements

Bachelor's Degree in Finance, Real Estate, Economics, Business Administration, or a related field required.
10-15+ years of commercial real estate lending, CMBS, structured finance, or related experience.
Meaningful experience underwriting and structuring commercial real estate transactions across multiple execution channels, including balance sheet bridge lending, warehouse finance and CMBS.
Advanced financial modeling, cash flow analysis, and commercial real estate credit underwriting skills.
Working knowledge of ARGUS DCF and other real estate lending financial tools.
Demonstrated leadership experience managing deal teams and mentoring junior professionals.
Proven ability to manage multiple complex transactions in a fast-paced, deadline-driven environment.
Strong project management, organizational, and analytical capabilities.
Excellent verbal and written communication skills with the ability to present complex credit matters to senior stakeholders.
Proven ability to influence stakeholders and drive consensus across multiple business functions.
Strong relationship management skills with both internal and external stakeholders.

Skills

Commercial real estate credit
Structured finance
CMBS markets
Underwriting
Structuring
Portfolio management
Financial modeling
Cash flow analysis
Credit risk assessment
Due diligence
ARGUS DCF
Project management
Organizational capabilities
Analytical capabilities
Verbal communication
Written communication
Stakeholder influence
Relationship management

Location

New York City, New York, United States

Work Type

Full-time

Experience Level

Director
10-15+ years

Education Level

Bachelor's Degree

Salary/Compensations

$300,000.00 - $300,000.00

Benefits

Flexible benefit programs designed to support unique family, financial, physical, mental, and social health needs.

About the Company

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.
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.
We work together to drive ambition to every future!

Equal Opportunity

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.
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.