Private Banker 1

7 days ago

Montreal, Quebec, Canada Scotiabank Full time

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Requisition ID: 199774

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Contributes to the overall success of the Private Banking business in Canada ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team's business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.

The Private Banker 1 focuses on client service, determining what solutions are appropriate for the client's wealth goals, as well as onboarding clients to meet their sales goal while adhering to the overall Private Banking strategy and customer segmentation strategy. The Private Banker 1 will also be responsible for offboarding clients who would be better served in a retail branch.

The Private Banker possesses strong knowledge of customized lending, risk management, financial products and services, wealth management and retail lending. The incumbent has comprehensive experience and product knowledge to deliver service and customized lending solutions consistent with high net worth client needs.

Accountabilities

Lead Portfolio Management and Risk Mitigation by:

  • Providing relationship banking and the highest quality of administrative support to a portfolio of complex, high net worth clients.
  • Using knowledge of Scotiabank's diverse products and services to anticipate client needs and proactively deliver solutions through referrals to other Bank partners.
  • Managing client relationships to ensure that credit facilities and accounts are operating satisfactorily.
  • Proactively identifying and mitigating problem loans, including bringing potential problems under correspondence as soon as identified.
  • Acting as the client's Primary Relationship Manager (PRM) by utilizing the Financial Planning process to develop an in-depth understand of the client's needs, and maintaining SPCG service standards regarding proactive contact, and maintaining the client contact database.
  • Serving as a conduit for referrals to the SPCG Team of Experts and developing multiple service client relationships based on formalized client strategies.
  • Acting as a key member of the Centre's Team of Experts, proactively identify and implement strategies to address client needs.
  • Actively marketing customized Private Banking credit solutions (Total Wealth Credit Solution), to support wealth creation or diversification strategies, insurance solutions, currency and interest rate risk management.
  • Develop client management plans and make referrals that result in deeper client relationships.
  • Develop an in-depth understanding of client needs and proactively make referrals to: Private Investment, Counsel, Scotiatrust, ScotiaMcLeod, Hollis Wealth, Commercial and Retail Bank.
  • Identifying prospects and referrals from internal and external networks/COI's that meet Private Banking client thresholds.
  • Engaging and informing client management partners as to changes in client information and priorities.

Maintain Operational Effectiveness by:

  • Ensuring daily and periodic management controls are in place and effective.
  • Monitoring non-interest expenses against planned budgets, ensuring that the Manager, Client Services has appropriate and reasonable explanations for variances.
  • Providing direction, guidance and support to the Manager, Client Services as required, through coaching and periodic participation in Service Meetings and Skill Buildings sessions.
  • Reviewing and resolving client concerns and issues and ensure that the Bank's Customer Complaint Resolution Process is in place and effective.
  • Ensuring strict adherence to Bank security procedures, including assigned authorities and limits.
  • Ensuring compliance with regulatory requirements and guidelines, including Privacy, Anti-Money Laundering/Anti-Terrorist Financing, FCAC, Know Your Customer, CDIC, Occupational Health & Safety.
  • Reporting fraudulent activities, unusual occurrences, issues, deficiencies, or trends as applicable.
  • Fulfilling all retail credit requests through retail adjudication processes or working with the Wealth Credit Solutions team to develop commercial/customized credit proposals
  • Ensuring credit facilities operate within authorized terms and conditions
  • Ensuring the Bank's exposure is protected by way of adequate security requirements (if required) and appropriate credit conditions, resolving any issues that may arise. When applicable, escalate concerns to the Team Lead
  • Developing sound commercial underwriting skills
  • Ensuring security documentation is accurately prepared, complete, registered and renewed as required

Contribute to the effective functioning of the Private Banking and Centre team by:

  • Participating actively in team learning development activities and team performance achievements
  • Building effective working relationships across the team and with various business line and corporate function contacts
  • Maintaining a high level of customer service
  • Facilitating a culture of open and honest communication
  • Actively participating and contributing to touch bases and team meetings
  • Encouraging the generation of new ideas and approaches
  • Actively share knowledge and experience to enhance the development of all team members.
  • Developing and executing a meaningful employee development plan.
  • Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
  • Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Actively pursues effective and efficient operations of their respective areas in accordance with Scotiabank's Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
  • Champions a high performance environment and contributes to an inclusive work environment.

Education / Experience / Other Information

  • Minimum 5 years of banking experience
  • The incumbent must have at 3 to 5 years of Commercial and/or Retail Banking experience, dealing with high net worth clients and sophisticated financing requirements.
  • Must be an experienced banker with exceptional interpersonal, leadership and business development skills
  • University degree (BComm, MBA, etc.)
  • Industry courses (e.g. CSC, PFP, CFP) would be considered an asset
  • Bilingual in English and French

Pursuant to a language needs assessment conducted by Scotiabank, the successful candidate will be required to be able to communicate in English in addition to French because they will be required to work closely with other groups from head office who operate primarily in English and they will serve and English-speaking clientele frequently.

Location(s): Canada : Quebec : Montreal

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. 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.

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