Wealth Manager & Team Lead (Bilingual Spanish)
City : Toronto, ON, CA, M5C2V9
Category : Financial Manager
Industry : Finance
Employer : Scotiabank
Requisition ID: 175541
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose of Job: The International Wealth Manager & Team Lead position is responsible for the operation and achievements of a team of Senior Associate Private Banker and Associate Private Banker, including the team’s overall sales and financial results, superior client service delivery, strong risk management practices and distribution of workload. The incumbent is responsible for team member development, ensuring that they have the skills and product knowledge to provide a wide array of deposit and lending solutions
The International Wealth Manager and Team Lead possesses advanced knowledge of wealth management, customized lending, risk management, financial products, and services. This position focuses on generating new clients and the cross-sell, up-sell, and retention of existing high value International Wealth Management clients. He/she is responsible for identifying high net worth/ultra high net worth prospects with complex lending and/or banking needs in target markets, developing acquisition strategies, growing relationships, maintaining a sustainable prospect sales pipeline, conducting sales calls and qualification of opportunities based on customer information and due diligence.
He/she manages a complex portfolio of high-net-worth households with a geographic focus in Peru. The role is a key business development position with business objectives for lending, deposits, and referrals to business line partners.
The incumbent possesses the comprehensive experience and product knowledge to deliver service and customized lending solutions consistent with high net worth/ultra high net worth client needs.
The incumbent will oversee the development of his/her team of Senior Associate Private Banker(s) and Associate Private Banker.
1. Relationship Management
Manage his/her portfolio to maximize revenues and meet business targets, while mitigating credit risk:
• Negotiate customized or standard Bank terms, conditions, structuring fees/interest rates, documentation, effective and competitive financing proposals with customers, culminating in the closing of transactions
• Deepen profitable, mutually beneficial relationships between clients and Private Banking / Scotia Wealth Management partners
• Provide relationship banking and the highest quality of administrative support to a portfolio of complex, high net worth/ultra high net worth clients
• Use strong knowledge of Scotiabank’s diverse products and services to anticipate client needs and proactively deliver solutions (including Commercial Banking, Scotia Capital and Retail)
• Manage client relationships to ensure that credit facilities and accounts are operating in a manner which is satisfactory to the Bank
• Respond to client and Senior Management inquiries, resolving problem situations autonomously when they arise
2. Provide Sales Management leadership to a team by:
• Leading, coaching and motivating sales team to achievement of profit plan
• Developing and obtaining agreement on individualized development plans to close any competency gaps
• Broadening knowledge base to ensure sales teams have all service and credit capabilities necessary to promote same to existing and prospective clients
• Determining the assignment of client relationships and allocation of account loads
• Using observational and results-based coaching to ensure the team achieves key financial and developmental goals including executing new client acquisition strategies, identification of additional wealth/banking opportunities and retention of existing high value clients
• Establishing and monitoring performance objectives and measures, and providing timely performance (& non-performance) feedback with regards to roles, tasks, and expectations
• Effectively utilizing and developing staff to fill the needs of the International Private Banking unit and longer-term requirements of the Bank
3. Business Development
Maintain a strong market profile within the assigned geographic area with both internal and external contacts:
• Actively promote the development of the Private Banking Centre book of business
• Market customized Private Banking solutions and sophisticated lending and risk management solutions
• Execute marketing strategies to attract and retain valuable clients by developing internal/external professional presentations and reports for growing relationships and conducting prospect meetings, skill building sessions, coaching, etc.
• Design strategic sales plans for prospects and existing customers
• Identify prospects and referrals from internal and external networks / COI’s
• Identify referral opportunities to Scotia Wealth Management partners, Private Investment Counsel, Commercial Banking, Retail and other key partners etc.
• Manage and maintain a pipeline of opportunities for the benefit of the International Private Banking Centre
• Represent the International Private Banking Centre at various business development events, internal and external presentations
• Participate in the development implementation of client events
4. Credit/Operational/Compliance Risk Management
• In coordination with Credit Solutions, ensure credit reviews are promptly, efficiently, and consistently completed
• Ensure all administration on an assigned portfolio is completed on time (client reviews, account reviews, reporting etc.)
• Advanced knowledge and ability to communicate all procedures and requirements of Know Your Client (KYC) and Anti-Money Laundering & Anti-Terrorist Financing (AML/ATF) policies. Adhering to Bank standards, policies, and business practices to ensure that the Private Banking team is meeting the appropriate regulatory and compliance requirements as they relate to both new and existing clients and accounts. Client activity is to be continually monitored and unusual or suspicious transactions are to be reported in accordance with policies and escalated to the Business Head and the Chief Compliance Officer, Private Banking.
Effectively supervise and develop Direct Reports and/or Trainees to meet the immediate needs of the Centre and longer-term requirements of the Bank by:
• Establishing & monitoring performance objectives and measures and providing timely performance (& non-performance) feedback with regards to roles, tasks, and expectations.
• Effectively utilize and develop subordinate staff to fill the needs of Private Banking Centre and longer-term requirements of the Bank. Ensure direct reports become knowledgeable in products, services, and procedures
• The incumbent must have minimum 5 years of commercial lending experience and 10 years banking experience
• University degree (MBA or CFA preferred), in addition to industry courses (CSC, PFP, CFP, etc)
• The incumbent must be an experienced banker with exceptional interpersonal, leadership and business development skills
Complexity of Position
The International Private Banking market is financially sophisticated, demanding and results oriented. In order to pursue this position, you require:
• Extensive knowledge of customized lending
• Excellent presentation, risk assessment, analytical, accounting, and financial analysis skills
• Advanced and proven deal structuring, negotiation, and sales management skills with superior closing capabilities
• Experience with sophisticated lending and risk management solutions, including equity monetizations, currency and interest rate risk management, insurance lending and corporate lending support
• Advanced marketing, communication, network, supervisory, interpersonal, and business development skills
• Excellent understanding of tax, estate, financial planning, and investment vehicles
• The incumbent must be able to relate comfortably with affluent and influential clientele in both a business and social content, demonstrating an ability to display a high degree of poise and professionalism at all times
• Thorough knowledge of all Scotia Wealth Management business line value propositions, plus support group relationships across the organization
• One-on one coaching and management of direct reports requires well-developed listening skills and concentration.
• Fluency in Spanish is required
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.