Director, Sales and Client Strategy
City : Toronto, ON, CA, M5H1H1
Category : General Strategy Consultants
Industry : Finance
Employer : Scotiabank
Requisition ID: 186742
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The individual will be responsible for setting the Private Banking sales strategy across the IPB footprint. The will lead and achieve strategic business objectives to attract, acquire & grow IPB’s business across Teams in the Pacific Alliance markets (Mexico, Peru, Colombia and Chile), CCAU (Cayman, Bahamas, Jamaica, Panama and Costa Rica) and offshore (Toronto) to grow the IPB business across clients’ onshore and offshore needs – meeting and exceeding sales targets & growth. Acting as an ambassador to internal partners promoting IPB as the leader in private banking relationships, expanding our brand recognition and market awareness.
A natural relationship builder, the incumbent will invest in developing and maintaining internal & external networks that reliably and effectively support the growth of the business. Through the proactive oversight of sales teams, the incumbent will drive the development of a detailed prospecting plans with senior leadership to achieve volume (deposit, investments, and loans), and new business objectives while optimizing profitability of new and existing relationships, delivering breakout and long-term sustained growth.
• Sets the sale strategy and identify sales goals for Private Banking teams across the IWM footprint
• Oversees the development of commercial disciplines for wealth managers to build profitable books of business
• Oversees strategies around development of prospects, contacts, and new customers and business partners to increase revenues market share in key markets
• Builds a strong sales management process for wealth managers across geographies to increase productivity and meet their goals consistently.
• Identifies business development relationships and leads partnership projects such as Wealth / ICCB initiative
• Develops analytical and quantitatively driven techniques and approaches to measure the performance of the IPB business across geographies, as well as improve sales management strategies, in order to increase Wealth Managers productivity.
• Leads, with the support of Private Banking teams in countries, performance tracking of the IPB business. Develops methodologies to measure revenues, volumes, new clients, and client satisfaction at the level of countries, Private Banking Centers, and individual wealth managers.
• Develops and implements customer journeys and lifecycle strategies to help identifying opportunities for growing revenue, boosting operating efficiencies, and enforcing compliance throughout the client lifecycle
• Leads the implementation of Total Wealth practice among Wealth Managers, ensuring TW approach is at the center of the sales management disciplines to be implemented.
• Lead the analysis of client strategy effectiveness and leverages analytics to manage and optimize campaigns
• Design an adequate training for wealth managers across IWM footprint to ensure implementation of a standard sales pitch, enhancement of their selling and persuasion skills, and generation of lead tactics
Client centric focus
• Manage sales leaders and teams to be accountable to deliver exceptional client experiences at every interaction and execute on plans to continuously build the client experience, in line with Scotiabank Wealth Management’s brand promise.
• Build expert knowledge of major clients and prospects, market, competition, and economic factors, while having robust understanding of key business issues and trends.
• Demonstrate and apply deep market knowledge and external relationships within the private banking space, to support business development goals and the acquisition of new business.
• Engage with Marketing and Relationship Management teams with reviewing client/partner satisfaction results and implementing a course of action to improve ratings and grow in the marketplace.
• Leads and drives a performance driven and client centric culture throughout the Sales Development Teams in the Pacific Alliance markets (Mexico, Peru, Colombia and Chile), CCAU (Cayman, Bahamas, Jamaica, Panama and Costa Rica) and offshore (Toronto) to grow the IPB business across clients’ onshore and offshore needs.
P & L Management
• Contributes to the multi-year business growth of IPB (through the annual planning cycle), sales, client growth and retention goals for the unit.
• Develop multi-year plan for the profitable growth of the IPB client base based on client segmentation data, market/economic conditions, IWM objectives and competitive positioning, and translate these into meaningful and actionable objectives for IPB business units in the countries.
• Helps design a results-based reward and recognition strategies and programs, motivate staff to achieve their personal objectives and contribute to their colleagues’ objectives, in all areas of the business.
Sales and Strategy Support
• Orchestration of appropriate and robust sales development objectives, developing business plans, regular assessments against minimum targets and standards, performance appraisals against existing targets.
• Work closely with and developing strong relationships with all relevant partners, including International Investment Advisory (IIA), Jarislowsky Fraser (JF), International Wealth Structuring (IWS) and International Corporate and Commercial Banking (ICCB), Affluent team (IB Retail) and IB Marketing.
• Continually analyze new market trends, develop thorough understanding of the needs of private banking clientele, the competition, and regulatory and compliance environments and changes.
Develop and implement a new Sales Management strategy and framework across IPB; build scalable solutions and capabilities that will position in-field teams and leaders to deliver more
Total Wealth, improved business growth and productivity while ensuring an enhanced client and Wealth Manager experience
• Be accountable for translating business strategies and priorities into executable tools, activities, and practices, ensuring knowledge and adoption of initiatives are well understood Wealth Managers to maximize benefits, minimize risks and drive steady Net Promoter Score (NPS) increases
• Support sales teams across IPB markets in enhancing their understanding of Private Banking servicing offering, value propositions and pricing models.
• Design and develop sales management capability tools and enablers to increase and sustain sales performance and embed and sustain strategies and initiatives.
• Creates an environment in which his/her team maintains effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
• Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment, communicating vison/values/business strategy, and managing succession and development planning for the team.
Leadership and Governance
• Ensures superior quality client service, ensure a smooth and efficient operational routine is in place, and ensure that daily and periodic management controls are effective.
• Performs reviews of all new business; including deposit and lending providing authorization as required.
• Adheres to Bank and Branch security procedures with respect to assigned authorities and responsibilities. Review client complaints to determine what, if any, compliance issues/trends are in evidence.
• Familiar with Know Your Customer (KYC) and AML/ATF policies
• Ensures familiarity with all relevant AML/ATF Regulations which impact the business.
• Reviewing customer transactions and activity according to established policies and procedures through the daily review of the AML Reports
• Submitting required AML/ATF reports such as Unusual Transaction Reports (UTRs)
• Assisting in obtaining additional information from customers on SARs, UTRs, KYC, etc, as required
• Ensuring that training on AML/ATF matters is provided within established policies and procedures
• Participate in other assignments as required.
IWM Strategy and adoption
• Participate and contribute with IWM Management to drive multiyear strategy adoption for Scotiabank’s offshore client offering
• Contribute to development and management of incentive frameworks (compensation, recognition, and total rewards)
• Actively manage a thorough understanding of client segments including HNW (entrepreneurs, professionals, multi-generational wealth) and UHNW
Education / Experience
• The incumbent must have an excellent knowledge of all Private Banking and Wealth Management products and services as well as a though understanding of commercial and retail credit principles.
• In-depth knowledge in sales and service design concepts and management techniques
• Strong understanding of the PB markets business and political environment in IWM footprint
• Proven leader of large teams in a dynamic, complex, customer-oriented environment
• A sophisticated/strategic sales approach which is solution based and that leverages the strength and capabilities of the organization
• Strong organization & self-management skills to convert strategic objectives and plans into measurable results
• Exceptional presentation, communication, and interpersonal skills
• Ability to keep up to date on past, current, and future trends in the financial services industry
• Pro-active, self-starter with the ability to use exemplary leadership skills to maximize sales
• Superior leadership: demonstrated ability to lead, manage, coach, and motivate a team of highly independent and effective professionals with a proven talent for optimizing team synergies and divisional collaborations
• Leadership, executing on business plan, team building and strategic influencing skills and the ability to work in a cross-functional, matrixed work environment.
• Fluency (oral and written) in English and Spanish
• Possess proficiency with MS Office (particularly Excel and PowerPoint), Salesforce, Power BI
• MBA or degree in business or equivalent
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.