Senior Private Banker & Team Lead
City : Toronto, ON, CA, M5W2X6
Category : Financial Specialists
Industry : Finance
Employer : Scotiabank
Requisition ID: 175117
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
As a leader of a Private Banking team the incumbent contributes to the Private Banking’s success through leading the delivery of sound advice and administration of the Private Banking team’s assigned book of business. The incumbent ensures the team of Private Bankers delivers exceptional personal service and leads the overall day-to-day management of retail, small business, and custom Private Banking solutions. In addition, the incumbent is accountable for coaching and employee development, overseeing compliance standards and resource management within the assigned team and liaising with Private Banking Head Office on updates, enhancements, and training. The Private Banking Team Lead is also responsible for the teams’ sales goal. As a Private Banker Team Lead, the incumbent will work closely with other Team Leads and Regional Directors to provide direction to team members in a manner consistent with the overall Private Banking strategy and customer segmentation strategy.
Leading a team of Private Bankers, ensuring the delivery of the highest level of service and advice during all client interactions by:
- Demonstrating a passion for engaging with affluent and influential clients, delivering exceptional client experiences, and making a significant impact in the lives of our clients
- Developing a full knowledge and understanding of Bank products, services, processes, and policies
- Maintaining an acute focus on responding quickly and resourcefully to client requests with professionalism, ensuring first time right approach and acting with a sense of urgency
- Creating a team environment by supporting and providing effective backup management in the absence of the Private Banker
- Supporting Private Bankers to appropriately onboard, offboard and grow client accounts in alignment with Private Banking’s Customer Segmentation Strategy
Providing leadership in the onboarding, offboarding and management of client relationships, providing a full range of customized financial solutions by ensuring Private Bankers:
- Grow the Private Banking customer base through meeting their annual sales goals, consistent with the Private Banking strategy and customer segmentation strategy.
- Understand the client’s financial goals and preferences, analyze, and anticipate their needs and recommend appropriate solutions
- Provide end-to-end ownership over advice-based solutions including account opening, investments, credit cards, lines of credits and mortgages
- Identify opportunities to expand existing relationships in accordance with the customer segmentation strategy and make referrals to Scotia Wealth Management partners in response to changes in the client’s needs or preferences, as appropriate
Support the Private Banking team’s designated portfolio of less complex credits by:
- Demonstrating a thorough knowledge and understanding of commercial and retail credit principles
- Leading team members in the thorough evaluation of the client’s borrowing needs and strategies, income sources and capacity to formulate a succinct credit proposal for adjudication, as appropriate and in line with the customer segmentation strategy
- Exercising sound judgement and financial analysis when granting loans within authorized limits
- Looking for opportunities to enhance the client relationship with credit when needs arise from life changes
- Monitoring financial status and proactively identifying unfavorable trends, escalating as required
Inspire, lead, and develop a diverse Privat Banking team by:
- Embracing and championing change management initiatives across your team by ensuring clear communication and providing support and coaching
- Coordinating peer-to-peer support for new employees within your team and across Private Banking branches
- Providing regular coaching, feedback, direction and support of direct reports and peers
- Recognizing and rewarding success, informing and supporting individual development plans, and managing non-performance
- In collaboration with Private Banking Head Office, planning and leading monthly team skills development sessions while facilitating the sharing of best practices
- Managing workload and vacation coverage for team to ensure a consistent client experience
- Resolving issues/negotiating compromises between team members
- Ensuring team members have a clear understanding of financial and non-financial goals
Lead the administration and compliance functions for assigned team, overseeing the implementation and sustainment of bank policies, procedures and special initiatives to minimize the Bank’s exposure to risk by:
- Ensuring accurate and timely completion of daily and periodic monitoring activities including Automated Control System, Worklist Management Exceptions, Work Hub, Digital Courier, and Accounting Support Package reviews
- Executing duties as Branch Compliance Officer (BCO) for the sale of Mutual funds, ensuring branch compliance with Mutual Fund Dealers Association (MFDA) rules and regulations as well as Scotia Securities Inc. (SSI) guidelines/processes, as applicable
- Maintaining oversight of all team compliance dashboard metrics, ensuring outstanding issues are resolved in a timely manner
- Leading operational excellence and a satisfactory Branch audit
- Ensuring team stays current on retail lending compliance, regulatory compliance, and custody requirements and changes
- Adhering to compliance with regulatory activities and guidance over Occupational Health & Safety
- Monitoring team’s strict adherence to Bank security procedures, including retail lending policies and processes, assigned authorities and limits
- Escalating fraudulent activities, unusual occurrences, issues/deficiencies/trends to your Team Lead and/or AML and/or Branch Compliance Officer (BCO) and/or Chief Compliance Officers and/or applicable Shared Services Department as appropriate
- Adhering to and ensuring team members’ compliance with cash, custody and security procedures at all times
- Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
- Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
- Creates an environment in which their team pursues effective and efficient operations of their 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.
- Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and managing succession and development planning for the team.
Education / Experience
- 5 years+ Retail or Commercial banking experience
- Fluency in Mandarin is required
- Experience with employee development and coaching
- Experience with client service standards and change management
- University or community college degree preferred
- The successful completion of a course of study that will enable registration with the appropriate provincial securities commission to obtain a license to sell mutual funds
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.