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Purpose of Job: The International Private Banker 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 Wealth Management clients. He/she is responsible for identifying high net worth/ultra high net worth prospects with complex lending 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. The role is a key business development position with elevated new business objectives for lending, deposits and referrals to business line partners. The incumbent possess 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 Associate Private Banker(s). Where applicable- The Senior Private Banker is the back up contact in the absence of the Director, Private Banking.
Major Responsibilities: 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. Business Development
Maintain a strong market profile within the assigned geographic area with both internal and external contacts:
Aggressively promote the development of the Private Banking Centre book of business
Actively 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 opportunity for the benefit of Private Banking Centre
Represent Private Banking Centre at various business development events, internal and external presentations
Participate in the development implementation of client events
3. 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.
4. Leadership 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
Location(s): Canada : Ontario : Toronto As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. 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.
Job Segment: Bank, Banking, Banker, Developer, Law, Finance, Technology, Legal
Internal Number: 6283229
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