Private Banker

7 days ago

Vancouver, British Columbia, Canada Scotiabank Full time
Role Summary

As a Private Banker - Wealth Management Expert at Scotiabank, you will possess strong knowledge of customized commercial lending, risk management, financial products and services, wealth management and retail lending. You will have comprehensive experience and product knowledge to deliver service and customized lending solutions consistent with high net worth client needs.

Key Responsibilities
  • 1. Portfolio Management and Risk Mitigation
    • Work 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.
    • Provide relationship banking and the highest quality of administrative support to a portfolio of complex, high net worth clients
    • Use knowledge of Scotiabank's diverse products and services to anticipate client needs and proactively deliver solutions through referrals to other Bank partners.
    • Manage client relationships to ensure that credit facilities and accounts are operating satisfactorily.
    • Proactively identify and mitigate problem loans, including bringing potential problems under correspondence as soon as identified.
    • Act as the client's Primary Relationship Manager (PRM) by utilizing the Financial Planning process to develop an in-depth understanding of the client's needs, and maintaining SPCG service standards regarding proactive contact, and maintaining the client contact database.
    • Serve as a conduit for referrals to the SPCG Team of Experts, and develop multiple service client relationships based on formalized client strategies.
    • Act as a key member of the Centre's Team of Experts, proactively identify and implement strategies to address client needs
  • 2. Business Development
    • Actively market 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 and execute 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.
    • Identify prospects and referrals from internal and external networks/COI's
    • Maintain a strong prospect sales pipeline, conducting sales calls and qualification of opportunities based on effective due diligence.
    • Engage and inform client management partners as to changes in client information and priorities.
  • 3. Operational Effectiveness
    • Ensure daily and periodic management controls are in place and effective
    • Monitor non-interest expenses against planned budgets, ensuring that the Manager, Client Services has appropriate and reasonable explanations for variances
    • Provide direction, guidance and support to the Manager, Client Services as required, through coaching and periodic participation in Service Meetings and Skill Buildings sessions
    • Review and resolve client concerns and issues and ensure that the Bank's Customer Complaint Resolution Process is in place and effective.
    • Ensure strict adherence to Bank security procedures, including assigned authorities and limits
    • Ensure compliance with regulatory requirements and guidelines, including Privacy, Anti-Money Laundering/Anti-Terrorist Financing, FCAC, Know Your Customer, CDIC, Occupational Health & Safety
    • Report fraudulent activities, unusual occurrences, issues, deficiencies, or trends as applicable
  • 4. Credit Risk Management
    • Fulfill all retail credit requests through retail adjudication processes or working with the Wealth Credit Solutions team to develop commercial/customized credit proposals
    • Ensure credit facilities operate within authorized terms and conditions
    • Ensure 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
    • Develop sound commercial underwriting skills
    • Ensure security documentation is accurately prepared, complete, registered and renewed as required
  • 5. Team Contribution
    • Participate actively in team learning development activities and team performance achievements
    • Build effective working relationships across the team and with various business line and corporate function contacts
    • Maintain a high level of customer service
    • Facilitate a culture of open and honest communication
    • Actively participate and contribute to touch bases and team meetings
    • Encourage the generation of new ideas and approaches
    • Actively share knowledge and experience to enhance the development of all team members
    • Develop and execute a meaningful employee development plan

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