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Sr. Director, Secured Lending

Toronto, Canada

Momentum Financial Services is a leading provider of financial services in North America. For 40 years, we've been committed to providing financial solutions that meet the evolving needs of consumers and business owners. Through our retail network of over 400 locations, known as Moneymart, Insta Cheques and the Cheque Cashing store, we provide access to cash and related products to help our customers achieve their goals.

Our highly skilled workforce puts customers first in everything we do. We serve 2 million people annually with diverse and innovative financial products such as loans, cheque cashing, money transfer and prepaid cards. Through this ever-evolving suite of services, we empower customers to manage their finances and improve their lives. Wherever customers are on their financial journey, Momentum Financial Services Group provides solutions. 

GENERAL FUNCTION

The Sr. Director, Secured Lending will lead the overall strategy, development, and execution of secured lending products, working collaboratively across the organization. This leadership role requires deep expertise in secured lending operations, and experience managing both insourced and outsourced lending operations. This role will have responsibility for driving the entire product lifecycle – from concept to execution – and will work closely with other senior leaders to set and manage the overall P&L for the secured lending division.

DUTIES/RESPONSIBILITIES

  • Product Development: Lead the end-to-end product development for secured lending products, from initial concept through launch and ongoing refinement. Evaluate insource vs outsource partnerships to determine the best launch model.  Work closely with cross-functional teams to ensure product alignment with customer needs and market demand.
  • P&L Management: Manage the P&L for the secured lending division, ensuring financial targets are met, and identifying opportunities for cost optimization and revenue growth.
  • Insourcing and Outsourcing: Evaluate, manage, and optimize the mix of insourced and outsourced functions within the secured lending division to ensure operational efficiency and cost-effectiveness.
  • Operational Oversight: Oversee the day-to-day operations of secured lending, including working closely with operational teams to ensure the smooth execution of lending services, and ensuring compliance with all regulatory requirements.
  • Strategy & Leadership: Develop and execute a comprehensive strategy for secured lending, ensuring alignment with the company’s broader business objectives. Provide visionary leadership for the secured lending division and create long-term plans for growth and profitability.
  • Risk & Compliance Management: Work with risk management and legal teams to ensure all lending products and services comply with applicable laws and regulatory standards. Continuously assess and mitigate risks related to secured lending.
  • Stakeholder Management: Collaborate closely with senior management, marketing, and operations teams to ensure the alignment of business goals, objectives, and performance metrics.

EDUCATION

  • A Bachelor’s degree in Business, Finance, Economics, or a related field.
  • An MBA or equivalent advanced degree is highly preferred.

EXPERIENCE

  • A minimum of 10 years of progressive experience in secured lending, with at least 5 years in a senior leadership role.
  • Proven track record in developing and launching successful lending products, especially within secured lending or asset-backed lending.
  • Experience managing large P&L responsibilities and driving revenue and profitability.
  • Demonstrated ability to lead cross-functional teams and manage complex projects from inception to completion.
  • Knowledge of relevant regulations and compliance requirements in secured lending.

SKILLS

  • Strategic Thinking: Ability to define and execute long-term strategies and drive innovation in secured lending.
  • Leadership: Strong leadership, with the ability to inspire and develop a high-performing team.
  • Operational Expertise: Hands-on experience in lending operations and product management, with the ability to manage day-to-day execution while driving long-term goals.
  • Financial Acumen: Strong understanding of financial management, P&L, and budget processes.
  • Problem-Solving: Excellent analytical and problem-solving skills, with the ability to manage complex challenges in a dynamic market.
  • Communication: Exceptional communication and interpersonal skills, with the ability to interact effectively with internal and external stakeholders, including senior management, regulators, and customers.
  • Project Management: Strong project management skills with the ability to manage multiple projects and deadlines simultaneously.

ADDITIONAL ATTRIBUTES

  • Entrepreneurial mindset with a passion for building and growing lending products.
  • Ability to thrive in a fast-paced and evolving environment.
  • Hands-on, “roll-up-your-sleeves” attitude toward leadership and problem-solving.

If you are an experienced and strategic leader with a passion for secured lending, and you thrive in a hands-on, high-growth environment, we encourage you to apply today. 

Additional Information

All your information will be kept confidential according to EEO guidelines.

*Notice to Ontario Applicants – Momentum Financial Services Group is committed to accommodating applicants with disabilities up to the point of undue hardship during the recruitment, assessment, and selection process. If you are selected for an interview, please notify Momentum Financial Services Group if you require accommodation in respect of the materials or procedures used at any time during this process. If you require accommodation, we will work with you to determine how to meet your needs.

Note to Internal Applicants: All internal applicants are required to notify current manager regarding interest in applying for this role.

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