Hi, I’m
SMRUTI PATEL
Toronto,Canada
Summary
Highly accomplished and strategic leader with a proven track record of success in Product, Strategy, Risk, and Distribution within the financial services industry. Expertise in P&L management, talent development, and driving impactful solutions across diverse stakeholder groups. Passionate about fostering inclusive and high-performing teams. Proven ability to:
- Drive business growth and profitability
- Lead and develop high-performing teams
- Navigate complex regulatory environments
- Champion diversity and inclusion initiatives
- Deliver exceptional client experiences
Overview
18
years of professional experience
Work History
Royal Bank Canada
Director, Specialized Lending (Automotive Finance)
09.2021 - Current
Job overview
- Led a team of 10+ professionals to provide alternative funding solutions to non-bank lenders in the automotive sector, managing a total authorized portfolio of $1.55B.
- Spearheaded the onboarding of a new electric vehicle manufacturer, securing $40MM in new credit, projected to reach $100MM+ by 2026, demonstrating strong business development skills.
- Drove credit and product strategy enhancements, resulting in an improved client experience, streamlined adjudication, and enabled portfolio growth of $300MM+ since September 2021, while reducing exceptions to zero, showcasing expertise in credit risk management and process improvement.
- Managed budgets effectively to ensure optimal use of resources while maintaining financial stability, highlighting strong financial management skills.
Royal Bank Canada
Director, Business Operations Risk and Governance (Automotive Finance)
11.2017 - 09.2021
Job overview
- Led a team of 15+ professionals, providing strategic risk management, compliance, and regulatory guidance to the Commercial Automotive Finance team, with a total portfolio of $6B.
- Increased priority client volume by $370MM by enhancing commercial risk appetite and enabling business growth through a strategic increase in large exposure limits from 15% to 20%.
- Revamped the commercial controls environment, creating 10 new controls, simplifying 67% of existing controls, and realigning 33 controls to optimize efficiency and effectiveness. These efforts were recognized as best practice and leveraged by other groups.
- Developed high-performing teams by providing mentorship, guidance, and opportunities for professional growth
Royal Bank Canada
Director, Advisor and Branch Network Reconfiguration (Distribution Strategy)
05.2016 - 11.2017
Job overview
- Spearheaded the development and implementation of a comprehensive strategic plan for the division, resulting in a 15% increase in revenue and a 10% improvement in profitability within two years.
- Enhanced risk appetite, enabling $370MM in additional client volume by increasing large exposure limits.
- Led a team of 100+ employees across multiple departments, fostering a high-performing culture that emphasized collaboration, innovation, and client-centricity.
- Successfully navigated the division through a period of significant regulatory change for a $6B Commercial Automotive Finance portfolio, ensuring compliance with all applicable laws and regulations while minimizing business disruption.
- Built and maintained strong relationships with key stakeholders, including clients, investors, and industry partners.
Royal Bank Canada
Senior Manager, Business Architecture (Strategy, Performance and Marketing)
05.2013 - 05.2016
Job overview
- Provided expert counsel to RBC leadership on critical initiatives across channel strategy, digital strategy, and product development, driving strategic alignment and innovation.
- Led the design of a competitive response strategy against new market entrants and disruptive technologies within a confidential payments project. Assessed the competitive landscape, conducted comprehensive needs analysis, defined target state objectives, and developed market entry opportunities (build/buy/partner).
- Leveraged credit acumen and analytical models to recommend impactful sales and credit enhancements for two key commercial client segments. This initiative improved client experience, strengthened sales capabilities, and enabled significant volume growth, fostering greater collaboration across RBC businesses in Canada, the US, and the UK.
- Collaborated closely with peers from other departments to drive organizational success jointly as one cohesive unit.
- Facilitated partnerships with industry leaders, expanding company's network and opening new business opportunities.
Royal Bank Canada
Secondment, Business Architecture (RBC Wealth Management International)
02.2015 - 08.2015
Job overview
- Successfully designed and implemented a restructure within Wealth Management International, impacting 17% of UK-based employees, resulting in streamlined operations and cost savings.
- Conducted a comprehensive strategic review of key business groups, culminating in a target state recommendation approved by senior leadership.
- Designed and implemented a target operating model focused on cross-functional collaboration, leading to increased efficiency and resource optimization.
- Rapidly upskilled on new platforms and geographic specificities to effectively lead change within a complex international environment.
- Enhanced overall team performance by regularly sharing insights on market trends, product offerings, and successful client engagement strategies.
- Evaluated the suitability of various investment products for clients, ensuring alignment with their risk tolerance and return objectives.
GulfTalent.com
Senior Analyst, Special Projects
01.2010 - 02.2012
Job overview
- Expanded business from ‘start-up’ to ‘scale-up’ through design and execution of initiatives and standardization of business practices; company grew from 5th to 3rd in market (online recruiting)
- Designed and conducted client surveys and interviews to ensure voice of client informed strategies, initiatives, and sales model for company; utilized insights to develop training and pitch for sales team resulting in a consistent approach and onboarding of larger clients
- Proposed and established new distribution channel for company reports; created sales forecast, pitch proposal and led the implementation through design, print, and distribution; piloted initiative with over 500 copies sold in UAE bookstores and expanded distribution throughout EMEA in following year
Fullerton Financial Holdings
Founder member and Associate
11.2006 - 11.2009
Job overview
- Founding member of Dunia Finance, a greenfield financial institution launched in September 2008 with $180MM seed capital from Temasek and Mubadala.
- Led the conceptualization, design, and execution of key aspects of the start-up, including brand design, client segmentation strategies, operational processes, and product offerings.
- Developed a proprietary technology system to support the institution's operations and growth.
- Developed strong partnerships with other businesses to allow for collaboration and more significant opportunities for growth.
Education
HBS Online
Certificate from Leading with Finance
01.2020
Richard Ivey School of Business, Western UniversityLondon, Ontario
Master of Business Administration
01.2013
University of Bristol
Master of Laws
01.2006
University of Bristol
Bachelor of Laws
01.2005
Skills
- Process improvements
- Relationship building
- Strategic planning
- Decision-making
- Negotiation
- Program management
- Business planning
- Change management
- Budget management
- Financial management
- Crisis management
- Financial planning
Communityleadership
- RBC Diversity & Inclusion, CB Women’s Forum Co-Chair and Engagement Pillar lead, 01/16, Present, D&I Champion: MOSAIC ERG member, DLC member, LOB Champion, 01/14, Present, PFP Diversity & Inclusion Chair, 01/22, Present
- Community Impact and Leadership, Board Member: Toronto Vintners Club & The Laneway Project, 01/19, Present, CivicAction DiverseCity Fellow, 01/22, 01/22, Youth Mentor – Girls E Mentorship, Junior Achievement, and BridgeTO, 01/15, 01/22, Youth Entrepreneurs Mentor – BITS Summer Bootcamp, iCube, 01/19, 01/22
Languages
English
Native or Bilingual
Interests
- Volunteering for community initiatives to give back to local communities and make a positive impact.
Timeline
Director, Specialized Lending (Automotive Finance)
Royal Bank Canada
09.2021 - Current
Director, Business Operations Risk and Governance (Automotive Finance)
Royal Bank Canada
11.2017 - 09.2021
Director, Advisor and Branch Network Reconfiguration (Distribution Strategy)
Royal Bank Canada
05.2016 - 11.2017
Secondment, Business Architecture (RBC Wealth Management International)
Royal Bank Canada
02.2015 - 08.2015
Senior Manager, Business Architecture (Strategy, Performance and Marketing)
Royal Bank Canada
05.2013 - 05.2016
Senior Analyst, Special Projects
GulfTalent.com
01.2010 - 02.2012
Founder member and Associate
Fullerton Financial Holdings
11.2006 - 11.2009
Richard Ivey School of Business, Western University
Master of Business Administration
University of Bristol
Master of Laws
University of Bristol
Bachelor of Laws
HBS Online
Certificate from Leading with Finance
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