Market Lead, Private Investment Counsel – Central Ontario Region
City : Toronto, ON, CA, M5H1H1
Category : Financial Manager
Industry : Financial Services/Banking
Employer : Scotiabank
Requisition ID: 194577
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Market Lead oversees and leads a team of investment professionals in the Central Ontario Region market who are responsible for the achievement of defined revenue production goals. This is a producing role therefor the Market Lead not only delivers this mandate by identifying, managing, retaining and deepening high net worth/ultra-high net worth prospects in specific markets but also coaches his/her team in doing the same.
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 also manages a book of business, gains an intimate understanding of client’s life goals, circumstances and needs in order to provide investment counseling that is integrated into life- based wealth advice and solutions. Additionally, 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.
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;
- Championing and facilitating the sharing of best practices to enhance client and relationship manager experiences (e.g. strategy & business development campaigns);
- Meeting regularly with direct reports to review business development plans and provide coaching and feedback;
- Participating in joint business development and client relationship management activities on a regular basis;
- 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;
- 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
- 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;
Contributing to the effective functioning of PIC by:
- Leading by example as a key member of PIC’s leadership team.
- Building effective working relationships across the team and with various business lines and corporate functions;
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;
- Ensuring the suitability of wealth strategy and investment recommendations and alignment with clients’ financial goals, objectives and risk levels;
- 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;
Executing on the business development strategy by:
- Serving as the primary leadership contact for PIC within the assigned market;
- 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
- 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;
Other Responsibilities may include:
Executing the client relationship management strategy and delivering exceptional client experiences in accordance with PIC’s value proposition while managing a book of business of up to 50 relationships by:
- 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;
- Responding to client, resolving problem situations autonomously when they arise;
- Proactively identifying and implementing strategies to address client needs;
- Monitoring client accounts to ensure optimal profitability is maintained in each relationship.
Executing on the client investment management strategy by:
- Utilizing the KYC process 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.
- 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;
- Strong communication and influencing skills;
- Strong interpersonal, communication & listening and people management skills;
- Results/Goal achievement oriented;
- Self- motivated and disciplined;
- Executes with Integrity;
- Proficient in the completion of a Financial Plan;
- Thorough knowledge of the various business lines within Canadian Wealth Management (CWM);
- Thorough knowledge of the full array of products and services offered across Scotia Wealth Management.
- Working knowledge of the products and services offered by Scotiabank partners in order to identify and refer clients as appropriate.
The Must Haves:
- University Degree (Business, Economics, Accounting, Finance)
- 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
- Must be willing to work towards completion of CIM within 18 months
- Must be willing to work towards achievement of registrant status with provincial securities commission
What’s in it for you?
- The opportunity to join a forward-thinking and collaborative team, surrounded by innovative thinkers
- Work with and learn from diverse industry leaders
- A rewarding career path with opportunities for professional development
- An inclusive working environment that encourages creativity, curiosity, celebrates success!
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.