Title:  PIC Wealth Manager

Requisition ID: 225307

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

Purpose

This position is a trusted advisor of private wealth services that meet high net worth client’s short- and long-term holistic wealth management and investment growth goals, through a firm wide investment strategy and a disciplined and defined wealth management process.

The Wealth Manager is a non-registered senior relationship manager and is responsible for representing a total wealth offering to high net worth (HNW) and ultra-high net worth (UHNW) private wealth clients. The Wealth Manager will support clients to achieve their life and financial  goals through close collaboration with the team of experts in the Centralized Registrant & Investment Advisory Team (CRIA) who will act as Registrant and recommend solutions for client’s short- and long-term holistic wealth management and investment growth goals, through a firm wide investment strategy and a disciplined and defined wealth management process.

The Wealth Manager develops client relationships to gain an intimate understanding of their life goals, circumstance and needs in order to provide multidisciplinary private wealth solutions integrated into ongoing and continuous life-based discovery process that is supported by a robust offering from experts from the overall total wealth teams. Through this understanding, he/she will be responsible for engaging Bank and Scotia Wealth Management partners as needed to deliver on wealth strategies and directing our “team of experts” to deliver on our value proposition and client experience expectations.

The Wealth Manager focuses on acquiring new clients and managing/retaining/deepening relationships with a book of existing high value clients. He/she will also be responsible for identifying high net worth/ultra-high net worth prospects in specific markets by developing acquisition strategies and maintaining a prospect sales pipeline with the intention of generating sustainable and profitable growth.

The Wealth Manager actively pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank’s Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day- to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.

Accountabilities 

Client Relationship Management

•    Consistently delivering exceptional client experience and the wealth advisory value proposition during all interactions 
•    Developing a professional, mutually beneficial, and profitable relationship between the client and Private Investment Counsel
•    Consistently executing on SWM and PIC service standards regarding proactive contact, central client point of contact, recording and maintaining the Client Contact database
•    Participate/Conducting/Documenting ongoing wealth conversations with clients, developing, and sustaining an intimate and ongoing understanding of client life goals, circumstances, and wealth needs
•    Based on an intimate understanding of their clients’ situation, identifying, and capitalizing on new business opportunities throughout the lifecycle of client relationships
•    Using strong knowledge of the Bank’s, Scotia Wealth Management and Private Investment Counsel diverse products and services, to ensure the clients needs are well understood, documented, and satisfied. 
•    Collaborate with team of experts and total wealth partners to provide life-based wealth advice and solutions focused on enabling client goals and life plans
•    Partnering with financial planning experts to engage clients in a robust discovery and planning process, the output of which will be a detailed financial overview and plan
•    Coordinating the continual review and monitoring of a client’s financial plan and wealth strategies stemming from the plan
•    Actively listening and seeking client feedback on products, services, and the delivery of client experience
•    Responding to client and Senior Management inquiries, resolving problem situations autonomously when they arise
•    Proactively identifying and implementing strategies to address client needs.
•    Frequent review of book/client accounts to ensure optimal profitability is maintained in each relationship (Compliance, Fees, Investment Structure within parameters outlined in Clients Investment Policy Statement etc.) 

Wealth Strategy Support and Execution

•    Document the Life Discovery process facilitated by the Relationship Manager in order to develop an in-depth understanding of client’s needs to support the CRIA teams’ recommended strategy and investment solutions based on the client’s needs, risk tolerance and short/medium- and long-term objectives
•    Collaborating with the Centralized Investment Management team who will execute upon defined investment management processes and with the Central Registrant and Investment Advisory Team (CRIA) to communicate advice to clients on their investment portfolio
•    Ensuring regular monitoring of client investment portfolios is completed by appropriate team of expert partners 
•    Contributing to the packaging of a long-term roadmap to execute on key wealth strategies identified through the planning process

Business Development

•    Developing and managing business plans including sales targets and marketing strategies for prospective and existing clients 
•    Using a PIC defined business development and sales planning process to find and attract new clients, as well as consolidate assets from existing clients in order to increase share of wallet 
•    Working closely with Regional Director/Market Lead to analyze market opportunities and develop appropriate business development, referral and partner inclusive strategies
•    Partnering with the Wealth Management Consultants in the business acquisition process 
•    Actively promoting and marketing the development of Private Investment Counsel’s book of business 
•    Identifying new business opportunities to gather additional assets and/or increase revenue 
•    Executing on marketing strategies to attract and retain valuable clients by providing internal/external professional presentations and reports for growing relationships and conducting prospect meetings 
•    Developing acquisition strategies, managing and maintaining a prospect sales opportunity pipeline in order to generate sustainable and profitable growth. This includes effective follow-up with prospects/referrals for any unsuccessful opportunities 
•    Building and maintaining an awareness of local market and general economic conditions 
•    Liaising with Bank & Wealth specialists to stay abreast of new enhancements, products and services, as necessary 
•    Participating in local professional and community events and associations to develop and expand network of contacts by actively promoting and marketing Private Investment Counsel internally and externally
•    Meeting with key industry and business leaders to identify prospects and referrals from internal and external networks / Centres of Influence (COI) 
•    Identifying referral opportunities for Scotia Wealth Management partners, ScotiaMcLeod, Commercial Banking, Retail and other key partners (Roynat, GTB, International, GBM, etc.) 

Risk Management/Compliance

•    Maintaining awareness and ensuring compliance/adherence to all procedures, regulatory activities and guidelines including Privacy, Anti-Money Laundering, Anti-Terrorist Financing, FCAC, Know your Client, Occupational Health & Safety and Guidelines for Business Conduct
•    Participating in all aspects of compliance and the identification of actions or changes in policy and/or procedures in order to remediate non-compliance in the business.
•    Minimizing the Bank’s overall exposure to risk
•    Ensuring the suitability of total wealth strategy in alignment with clients’ financial goals, objectives and risk levels
•    Adhering to bank and firm standards, policies and business practices to ensure that Private Investment Counsel is meeting the appropriate regulatory and compliance requirements as they relate to both new and existing accounts
•    Escalating, documenting and reporting any unusual occurrences, suspicious or fraudulent activities, as per established procedures

Career Development 

We offer industry leading development programs(s) that combines self study, clearly defined roles with the Supervising Portfolio Manager, various ongoing and ad-hoc skill building and coaching efforts that are tailored to each employees needs and level of experience. This program is customized to advance an AAR’s competencies as they progress towards their AR registration. 

Team Membership

•    Contributing to the effective and positive functioning of the Private Investment Counsel team and partners 
•    Fostering and developing a strong, positive team environment, driving employee empowerment, innovation and a high degree of engagement 
•    Building effective working relationships across the team and with various business line, internal and external stakeholders 
•    Maintaining a high level of client service and effectively resolving / escalating client issues as required 
•    Facilitating a culture of open and honest communication 
•    Actively participating and contributing to coaching sessions, touch bases and team meetings 
•    Encouraging the generation of new ideas and approaches 
•    Actively sharing knowledge and experience to enhance the development of all team members 
•    Scotiabank is committed to providing a healthy work environment that is free from discrimination, harassment and violence. This means that we are all responsible to work towards the creation of an environment that is caring and welcoming, professional and supportive, and safe and secure for all, including employees and clients. 
•    We rely on and value the talents, ideas, diversity and commitment of thousands of employees, business partners and other stakeholders around the world to deliver outstanding service to our clients. Central to our relationship is the principle of mutual respect which should be present in everything we do. 

Education / Experience 

•    Post Secondary (Business, Economics, Accounting, Finance)  
•    CSC  
•     CIM, or in the process of attaining CIM accreditation
•     Enrollment in or completion of CFA program is an asset
•     Strong knowledge, enrollment in or completion of Financial Planning (CFP) is an asset
•     Strong knowledge, enrollment in or completion of Insurance (LLQP) is an asset 
•    Industry experience and/or Investment management knowledge is an asset
•    Working knowledge of products and services offered by Scotiabank partners is an asset
•    Strong ability to learn, understand and explain financial and wealth strategies and concepts integrated with firm-wide investment strategies
•    Expert relationship management skills
•    Strong business development skills which include networking, negotiation, sales and closing skills
•    Strong communication and influencing skills
•    Strong interpersonal, communication & listening skills
•    Results/Goal achievement oriented
•    Self- motivated and disciplined
•    Executes with Integrity

Ongoing Education/Development:

•    Must complete CIM within 18 months
•    Must be willing to work towards achievement of registrant status with provincial securities commission 

Location(s):  Canada : Ontario : Toronto 

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.