Private Banker 3

Requisition ID: 136910

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

Job Purpose

The Private Banker possesses strong knowledge of customized commercial 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.

This position focuses on generating new clients and the cross-sell, up-sell, and retention of existing high value Wealth Management clients. Responsible for identifying high net worth prospects with complex lending needs in target markets, developing acquisition strategies, growing relationships, maintaining a sustainable prospect sales pipeline, conducting sales calls and qualification of opportunities based on customer information and due diligence.

The incumbent manages approximately 150 high net worth households. The role is a key business development position with elevated new business objectives for lending, fees, deposits and referrals to business line partners.

Key Accountabilities

1.Lead Portfolio Management and Risk Mitigation by:
Working directly with Retail credit adjudication (ACE) or with Wealth Credit Solutions for customized credit, negotiate standard Bank terms, conditions, structuring fees, interest rates and documentation.
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

2.Drive business development, maintaining a strong market profile with assigned partners and business channels:
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.
Developing and executing new business strategies to attract and retain high net worth clients. 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
Maintaining a strong prospect sales pipeline, conducting sales calls and qualification of opportunities based on effective due diligence.
Engaging and informing client management partners as to changes in client information and priorities.

3.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

4.Manage Credit Risk management by:
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

5.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

Functional Competencies

The Private Banking market is financially sophisticated, demanding and results oriented, in order to pursue this Market you require:
Strong knowledge of customized lending, commercial underwriting and proven ability to make sound credit recommendations
Experience with sophisticated lending and risk management solutions, including currency and interest rate risk management, investment and insurance lending
Knowledge of deal structuring, negotiation and sales management skills, as well as closing capabilities
Strong presentation, risk assessment, analytical, accounting and financial analysis skills
Marketing, communication, networking, interpersonal and business development skills
Good understanding of tax, estate, financial planning and investment vehicles
Ability to relate comfortably with affluent and influential clientele in both a business and social content, demonstrating an ability to display a high degree of poise and professionalism at all times
Thorough knowledge of all Scotia Private Client Group business line value propositions, with preferred knowledge of overall Scotiabank Wealth Management plus support group relationships across the organization

Education/ Experiences

Minimum 5 years of commercial lending experience and 10 years banking experience
Established network of High Net Worth clients in the Canadian Banking industry
The incumbent must have at 3 to 5 years of Managerial 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, CFA), in addition to industry courses (eg. CSC, PFP, CFP)

Location(s):Canada : Ontario : Oakville || Canada : Ontario : Hamilton || Canada : Ontario : Niagara Falls

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.

JOB TYPE

Work Day:Full Time

Employment type:Permanent Job

Salary:Negotiable

JOB REQUIREMENTS

Minimal experience:Unspecified