Private Banker

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.

Is this role right for you? In this role you will:

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 understanding 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 identifying and implementing 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 ensuring 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.

Do you have the skills to enable you to be successful in this role? We would love to work with you if you have:

• 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 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 (e.g., CSC, PFP, CFP).

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