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Title:  Private Investment Counsel Market Lead

 

 

 

Requisition ID: 116749

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

 

Private Investment Counsel Market Lead - Ottawa-based

Job Purpose

The Market Lead oversees and leads a team of investment professionals in Eastern Canada with offices in Ottawa, Kingston, Halifax and St John’s.  The individual is responsible for the achievement of defined revenue production goals as well as coaching the team to identify prospects, manage, retain and deepen high net worth/ultra-high net worth client relationships.

More specifically, the role is responsible for developing client acquisition strategies, maintaining a prospect sales pipeline in order to generate sustainable and profitable growth.  The incumbent is accountable for coaching, mentoring, and managing the performance of Portfolio Managers, Wealth Managers, Associate Portfolio Managers and Wealth Associates to facilitate the delivery of profitable, high quality wealth management services and solutions to clients to meet the objectives.

The market lead is considered and viewed as a trusted advisor of private wealth services that meet high net worth client’s short and long term wealth management and investment growth goals, in a holistic manner through a firm wide investment strategy and a disciplined and defined wealth management process.  The incumbent supports collaborative working relationships with other Advisory and Client Solutions colleagues, as well partnering with other Wealth and Bank business lines, with a focus on deepening and broadening Scotiabank client relationships as a whole.

The incumbent understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions, ensuring that all activities conducted are in compliance with governing regulations, internal policies and procedures.

 

Key Accountabilities

As Market Lead the incumbent is accountable for ensuring that the team members execute upon the client relationship management strategy and deliver an exceptional client experience in accordance with PIC’s value proposition defined as:

Developing a professional, mutually beneficial and profitable relationship between the client and PIC
Acting as the central point of contact for assigned client needs, ensuring all aspects of assigned relationships receive ongoing attention, as required, to maintain, improve, grow and retain the relationship
Providing wealth advice and solutions that enable client goals by developing and sustaining an intimate and ongoing understanding of client life goals, circumstances, and wealth needs
Identifying and capitalizing on new business opportunities throughout the lifecycle of client relationships
Consistently delivering the desired client experience during all client interactions
Applying a strong knowledge of Scotiabank, Canadian Wealth Management, and PIC in the service and support that we offer our clients
Directing and utilizing a team of wealth partners with subject matter expertise to deliver on wealth strategies and the wealth value promise
Partnering with all internal product/service business partners, as required, to ensure that client needs are met
Actively listening and seeking client feedback on products, services and the delivery of the client experience
Proactively identifying and implementing strategies to address client needs
Monitoring client accounts to ensure optimal profitability is maintained in each relationship
 

Ensuring executing on the client investment management strategy of:

Utilizing the KYC process, KYP and Investment Profile Questionnaire (IPQ) to develop an in-depth understanding of client’s needs and determining the appropriate asset allocation model based on needs, risk tolerance and short/medium and long term objectives;
Recommending an appropriate investment asset mix aligned with life goals, income needs, return expectations and risk tolerance that fulfills client objectives;
Collaborating with the Centralized Portfolio Management group and using defined investment management processes to communicate advice to clients on their strategic asset allocation, models and underlying investment portfolio;
Actively managing the client’s Financial Plan and Wealth strategy, including participation in the client’s annual Financial Plan review process
 

Executing on the business development strategy by:

Serving as the primary leadership contact for PIC within the assigned markets
Developing and managing business plans, including sales targets and marketing strategies for prospective and existing clients within the context of nationally defined business plans
Networking and maintaining a strong market profile with client segment and with both internal and external contacts/stakeholders
Participating in local professional and community events and associations to develop and expand network of contacts
Meeting with key industry and business leaders to identify prospects and referrals from internal and external networks / Centres of Influence (COI)
Using a PIC defined business development and sales planning process to find and identify new business opportunities, attract new clients, as well as consolidate assets from existing clients in order to increase share of wallet, assets, and revenue
Executing on marketing strategies to attract and retain valuable clients by providing internal/external professional presentations and reports and conducting prospect meetings
Developing acquisition strategies, managing and maintaining a prospect sales opportunity pipeline in order to generate sustainable and profitable growth and engaging in effective follow-up with prospects/referrals for any unsuccessful opportunities
Identifying referral opportunities for Scotia Wealth Management & Bank partners
 

Carrying out the risk management/compliance strategy in the Scotia Wealth Management Office by:

Maintaining client portfolios in accordance with established firm strategy which includes, utilizing the Central Portfolio Models and pools, focusing on client segmentation and client’s risk appetite
Managing successful and timely resolution of all issues and client concerns raised within the PIC business; escalating to the Regional Director and/or Compliance as required
Maintaining a high degree of working knowledge of operational processes to support coaching opportunities
 

Fulfilling the sales/service management strategy  for the Scotia Wealth Management Office by:

Providing expertise and guidance to the PIC team and team of experts for the PIC business and acting as the PIC lead in the local marketplace
Actively managing performance of direct reports against goals and/or business plans that are defined nationally
Designating primary relationship manager assignments
Ensuring team maintains a strong understanding and working knowledge of all of Scotiabank’s capabilities in order to recognize and facilitate opportunities for cross-sell
Providing supervisory mentorship to develop direct reports, as they complete their regulatory requirements
Meeting regularly with direct reports to review business development plans and provide coaching and feedback
Ensuring review of direct report’s business plans are completed and any corrective actions are taken to address gaps in performance against targets
Facilitating regular sales management meetings
Utilizing enablers and adopting technologies (e.g. dashboard reporting, CRM etc.) to effectively manage the assigned market
Executing the PIC recruitment strategy and process for the centre by contributing to the candidate origination process, managing the interview/hiring process, coordinating the onboarding of new employees
 

Providing leadership to motivate and develop individual and team performance by:

Fostering and developing a strong, positive team environment, driving employee empowerment, innovation and a high degree of engagement
Driving the internal communications process by ensuring all employees are aware of key projects, corporate goals and ongoing critical changes affecting clients by disseminating information in a timely and effective manner
Exhibiting an ability to listen, negotiate and communicate effectively
Ensuring that the performance management process implemented and employee development is a priority for all employees on the team, in an effort to build and sustain a high-performing team of investment professionals
Sharing knowledge, experience and responsibility with employees in an effort to drive for the highest standards of professionalism, sales and service excellence
Regularly meeting with direct reports by scheduling one-on-one coaching
Identifying and supporting training and developmental needs of team members and participation in the development of training programs

Functional Competencies

Thorough investment management know-how and depth of experience required as it relates to understanding economic and market data in order to describe the firm’s investment strategy to partners and clients
Strong ability to explain financial and wealth strategies and concepts integrated with firm-wide investment strategies
Expert relationship management and team leadership skills
Strong business development skills which include networking, negotiation, sales and closing skills

Educational/ Work Experience

University Degree (Business, Economics, Accounting, Finance);
Required: CSC & CIM
Asset: CFA
Must be eligible for registration under the provincial regulator as an Advising Representative
Minimum 5 years direct experience in discretionary investment management, covering both financial analysis and managing portfolios (individuals, estates, trusts, pension plans, foundations, registered accounts), with an expert understanding of investment returns, potential risks and the associated tax implications

 

 

Location(s):  Canada : Ontario : Ottawa 

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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