Private Banker 1

Requisition ID: 166074

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

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Purpose_**

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.

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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.

**Manage Credit Risk 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

**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 relatio