Requisition ID: 96666As a cornerstone business within Scotia Wealth Management®, ScotiaMcLeod has earned a reputation for integrity based on service excellence and trusted investment advice. Our advisors and teams pride themselves on exploring innovative approaches to protecting and growing their clients’ assets. When you join ScotiaMcLeod, youll be empowered to deliver Enriched Thinking®, a unique approach that incorporates your clients thinking, as well as our thinking, to drive results. Youll work with a team of specialists to deliver a client-centric approach to wealth management, enabling you to consider all the facets of your clients life, family and business. With a focus on total wealth planning, and wealth specialists to help you deliver on this unique value proposition, youll be enabling clients to see not just the big picture, but all the little ones too.
Purpose of Job: The ScotiaMcLeod Branch Manager is responsible for the development and achievement of defined goals for the Branch through the profitable delivery of superior client service and high quality solutions to high net worth and ultra-high net worth clients and businesses. The incumbent is responsible for leading and coaching a branch team to ensure they have the skills and knowledge to provide a wide array of total wealth management solutions. The incumbent also maintains a close, collaborative working relationship with other Scotia Wealth Management, Wealth Management Client Solutions and Scotiabank business heads in the region with a focus on deepening and broadening client relationships. The Branch Manager has direct P&L responsibility for the branch and sub-branches.
1. Develops and executes branch business plans and growth strategy by:
Developing and executing the branchs overall growth strategy, profit plan, and sales goals;
Developing a visible community profile for Scotia Wealth Management & ScotiaMcLeod;
Maintaining close relationships with the branchs top clients;
Serving as the primary leadership contact for the branch, establishing close working relationships with other Scotia Wealth Management, Wealth Management Client Solutions and Scotiabank partners to create business line awareness and generate internal referrals;
Broadening and deepening client relationships by bringing together the expertise and resources of Scotia Wealth Management to deliver multi-disciplinary solutions for ScotiaMcLeod clients;
Developing and maintaining an external COI network for external business referrals.
2. Leads the sales/service management strategy by:
Leading, coaching and motivating advisors to exceed sales growth and profitability goals;
Developing a broad knowledge base to ensure all client facing team members have skills necessary to promote the full suite of Scotiabank & Wealth products and services;
Championing and facilitating the sharing of best practices to enhance client and relationship managers experiences (e.g. strategy & business development campaigns);
Managing the overall quality and timeliness of client service in compliance with corporate policies and procedures, the operation document(s), legislation, and court precedent;
Maintaining a high degree of working knowledge of products and strategies in order to effectively support Wealth Advisory professionals;
3. Leads the risk mitigation strategy for the branch by:
Identifying and managing problem accounts early to minimize potential losses;
Ensuring effective management controls are in place;
Providing direction and support for unit audits and ensuring timely responses to any audit findings and sustainment of corrective activities;
Maintaining a high degree of working knowledge of regulatory and legislative requirements in all jurisdictions within assigned region;
Ensuring Region complies with all regulatory and compliance requirements including Privacy, Anti-Money Laundering/Anti-Terrorist Financing, FCAC, Know Your Customer, IIROC, MFDA, CDIC, Occupational Health & Safety;
Ensuring strict adherence to Bank security procedures, including assigned authorities and limits;
Reporting unusual or suspicious transactions in accordance with policies and escalated to National Branch Supervision as appropriate;
Escalating fraudulent activities, unusual occurrences, issues/deficiencies/trends to the Regional Director and/or ScotiaMcLeod Head Office as applicable;
4. Oversees compliance management for the branch by:
Maintaining oversight of local supervisory functions and Tier 1A compliance requirements;
Partnering with Compliance and National Supervision Unit to create and maintain regulatory policies and procedures including assigned authorities and limits;
Overseeing the implementation and execution of regulatory changes.
5. Ensures operational effectiveness for the branch by:
Managing the branch profit plan (e.g. revenue planning, expenditures, etc.);
Monitoring non-interest expenses against planned budgets,
Supporting client experience issues and the formal complaints process;
Executing the ScotiaMcLeod recruitment strategy for Wealth Advisors by attracting and retaining top talent including maintaining a network of competitor contacts and potential recruits and fill recruitment pipeline, managing the interview and hiring process, coordinating the onboarding of new employees with the local market;
Utilizing enablers (e.g. dashboard reporting, CRM, etc.) and supporting the adoption of new tools, technologies, and processes to effectively manage the region
Ensuring daily and periodic management controls are in place and effective;
Ensuring workflows and organization plans are efficient and effective.
6. Provides leadership to motivate and develop individual and team performance by:
Fostering and developing a strong, positive team environment, driving business development, 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;
Exhibiting an ability to listen, negotiate and communicate goals;
Ensuring the performance management process is in place and employee development is a priority for all employees on the team;
Sharing knowledge, experience and responsibility with employees in a drive for the highest standards of professionalism, sales and service excellence;
Identifying and supporting training and developmental needs of team members and participation in the development of training programs;
Managing staffing requirements and departmental workloads.
7. Contribute to the effective functioning of the Branch by:
Building effective working relationships across the team and with various business lines and corporate functions;
Facilitating a culture of open and honest communication by actively participating and contributing to touchbases, team meetings, encouraging the generation of new ideas and approaches and actively sharing knowledge and experience to enhance the development of all team members;
Expert knowledge of the wealth management advisory industry and factors that influence it (i.e. market trends, client needs, competition, economic & regulatory environment) in order to anticipate, prepare and lead on issues that affect the business
Exceptional Wealth Advisory business development and leadership skills having worked successfully for 10+ years at a senior level within the industry
Well-developed network of relationships with senior internal and external stakeholders, Centres of Influence and business alliances in order to identify and grow the business
Superior leadership and management skills and an ability to work closely and collaboratively with other senior Bankers across all Divisions
Expert knowledge of and demonstrated success in sales management techniques
Demonstrated exceptional ability to develop and implement a strategic plan, with a record of accomplishment of delivering results in a large organization where it is key to understand and develop internal relationships and influence decisions outside the scope of direct authority.
Strong capability in evaluating, designing, and leading the implementation of operational processes, product design, marketing strategies and technology solutions.
Highly competent and proven change agent with building a business, outstanding general management, interpersonal / team motivation and communication skills.
Proven ability to drive and manage a business line Profit & Loss statement.
Strong knowledge of the regulatory environment applicable to the investment management industry
Thorough knowledge and experience in the management of wealth advisory, securities regulations, risk management and compliance.
Strong understanding of the operational and technological platforms and systems underlying the business and how they support the delivery, distribution and client experience
Post-graduate business degree (e.g. MBA) and a CFA (or equivalent experience) would be an asset.
Requisite professional courses to be registered, at a minimum, as an Officer/Director (PDO, CSC, Branch Manager, CPH)
Options Supervisors Course (OPSC)
The incumbent leads, manages, makes decisions and takes action for the full service brokerage business in an independent fashion, with a limited degree of consultation with the Managing Director, Canadian Wealth Advisory.
Location(s): Canada : British Columbia : Victoria 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. Our employees are committed to a superior customer experience and use the Banks six guiding sales practice principles to ensure they act with honesty and integrity.
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.