Requisition ID: 105528Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose
The Wealth Associate role has been created as a means to develop client- focused talent in Private Investment Counsel. Wealth Associates will be supported in their development through the Wealth Associate Advancement Program (WAAP) and by working closely with Market Leads, Portfolio Managers and Associate Portfolio Managers as active hands-on engagement in the delivery of the PIC and Scotia Wealth offering. The WAAP is designed to provide technical and readiness training to Wealth Associates to support their in-role development. Program Managers and Market Leads will work collaboratively to coach and support a Wealth Associates growth, with the Market Lead maintaining oversight and people management responsibility for the Wealth Associate. This oversight will include formal performance coaching, business plan development and determination of best approach in supporting Relationship Managers in the overall management of their book of business. In so doing, relationship management and client servicing skills are groomed and enhanced. Skills are further developed with direct client interactions (client-facing work), interactions with internal partners and external Centres of Influence, and honing Private Investment Counsels value proposition the underlying principles of our business.
As the Wealth Associate progresses, he/she will be assigned primary relationship management responsibilities, for specified clients on achievement of milestones associated with their personalized development plan, and under supervision of the Market Lead. The Wealth Associate will, in these instances, partner with a PIC registrant who is part of our in-house Team of Experts (Central Registrant & Investment Advisory) to manage client relationships and to deliver an optimal client experience. As the Wealth Associate gains in-field experience, they will begin to work with Scotia Wealth partners to deliver the comprehensive Scotia Wealth Management offering.
The Wealth Associate is a key role in the business development cycle individual markets that make up PICs footprint across Canada. In this role, the Wealth Associate will spend time enhancing their business development skills and executing on the achievement of growth strategies to increase Private Investment Counsels reach in the market.
The Wealth Associate role is a growth oriented and entry-level position, suitable for individuals who expect to advance their career and obtain registrant status with an appropriate provincial regulator. Individuals in this role will be supported through hands-on learning, professional skills and knowledge development, and accreditation of required designations (CIM, CFA, CFP).
The incumbent understands how the Banks risk appetite and risk culture should be considered in day-to-day activities and decisions, ensuring that all activities conducted follow internal policies and procedures and gain a thorough knowledge of permissible activities under the regulatory environment. Upon successful completion of the Wealth Associate program and achievement of registrant status Private Investment Counsel may offer a Relationship Manager position in any of our market locations across Canada.
We have three positions open, GTA West, Whitby and Toronto
Accountabilities
Support Overall Market Book of Business
Ensure a comprehensive understanding of Private Investment Counsels value proposition in relation to clients financial needs, risk tolerance, and long- term objectives
Stay abreast of changes in client circumstances, market factors, capital market and economic conditions
Support Market Lead & Relationship Managers with the analysis of a book of business (portfolio of clients),development of business development strategies for market supported by Wealth Associate, and participation in initiatives to raise the business brand, presence and profile in-market.
1. Client Service & Relationship Management
Work collaboratively with the Market Leads and assigned Relationship Managers to satisfy client needs.
Respond to client inquiries & servicing needs in a timely, responsive and approachable manner demonstrating professionalism, emotional intelligence, and effective interpersonal skills in all interactions.
Proactively identify strategies to address client needs and discuss them with CRIA, the Market Lead and the Relationship Manager(s), including escalations that require immediate attention.
Prepare, analyze, and present reports and recommendations to clients in collaboration with CRIA and/or the Relationship Manager.
Participate in the development of financial plans with the Relationship Manager
Review processes and provide recommendations to improve the client experience and enhance delivery effectiveness
Work closely with Team of Experts to ensure client life goals are addressed
2. Business Development
Develop a business plan to manage sales activity, including goal-setting, pipeline management and revenue forecasting, referral source development and overall business growth, in alignment with the firms established practices
Conduct prospecting activities to contribute to book of business growth
Create and execute prospecting plans to develop a healthy pipeline that will see prospects transition to becoming PIC clients, using Salesforce to maintain accurate records (pipeline and client information).
Prepare final draft of client portfolio reports, presentation materials, proposals, meeting agendas and other materials supporting client meetings for the Relationship Manager
Maintain solid understanding of client needs and objectives to identify opportunities to expand the relationship across the Scotia Wealth offering
Leverage business planning practices to manage activities that grow the business through lead identification, prospect development and existing client relationships.
Manage event-based marketing programs, including development, approvals and implementation of seminars, branch presentations, workshops both with internal partners and externally (e.g., Clients, Centers of Influence)
Prospect and follow up on leads including those associated with Centers of Influence
Work with the Market Leads and Relationship Managers to develop and distribute client communication and marketing materials.
3. Risk Management/Compliance
Minimize the Banks exposure to risk by maintaining awareness and ensuring compliance/adherence to all procedures, regulatory activities and guidelines including Privacy, Anti- Money Laundering, Anti-Terrorist Financing, FCAC, Know your Client, Occupational Health & Safety and Guidelines for Business Conduct
Support the Portfolio Managers and Associate Portfolio Managers in maintaining client portfolios in accordance with established firm strategy which includes, utilizing the Central Portfolio Models and pools, focusing on client segmentation and clients risk appetite
Participating in all aspects of compliance and the identification of actions or changes in policy and/or procedures in order to remediate non-compliance in the business.
Adhere to bank and firm standards, policies and business practices to ensure that Private Client Counsel is meeting the appropriate regulatory and compliance requirements as they relate to both new and existing accounts
Escalate, documenting and reporting any unusual occurrences, suspicious or fraudulent activities, as per established procedures
4. Team Membership
Contribute to the effective functioning of the Private Investment Counsel team
Contribute to a strong, positive team environment, through accountability, innovation and a high degree of engagement
Establish and maintain effective working relationships across the team and with various business lines, internal and external stakeholders
Maintain a high level of client service
Facilitate a culture of open and honest communication
Actively participate and contributing to coaching sessions, touchbases and team meetings
Develop and execute a meaningful employee development plan
Encourage the generation of new ideas and approaches.
Education/Work Experience/Designations
A University Degree or College Diploma or equivalent
Thorough investment management knowledge and experience as it relates to understanding economic and capital markets
CSC
CIM, or in the process of attaining CIM accreditation
Enrollment in CFA program an asset
Enrollment in or certification in CFP program an asset
Minimum 2 years direct industry experience
Strong relationship management skills
Strong interpersonal, communication & listening skills
Knowledge of Excel, Mpower and Bloomberg.
Ongoing Education/Development:
Must enroll and be willing to work towards successful completion of CIM within 24 months
Must be willing to work towards achievement of registrant status with provincial securities commission
Location(s): Canada : Ontario : Mississauga || Canada : Ontario : Oakville || Canada : Ontario : Toronto || Canada : Ontario : Whitby 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.