Director & Team Lead, Private Banking

Job title: Director & Team Lead, Private Banking

Company: Scotiabank

Job description: Requisition ID: 222803Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.Purpose:The Director & Team Lead is responsible for the overall achievements of a team of Private Bankers and Associates in Canada, including the team’s overall business development activities, financial results, effective client service delivery, strong risk management practices and distribution of workload. The team specializes in working with high and ultra-high net worth clients and building working relationships with their network of Wealth and other advisors. The Director and Team Lead is the primary business development role within the team who develops internal and external marketing strategies that engage high net worth prospects and fosters close relationships with Scotiabank partners/channels to generate referral business.The incumbent is responsible for team level strategy, development of skills and product knowledge to provide a wide array of deposit and lending solutions, including conventional retail products, customized margin, insurance and real estate financing and hedging strategies.The incumbent possesses advanced knowledge of customized lending, risk management and broader wealth management solutions. The position is tasked with ensuring the team retains and deepens existing client relationships in addition to meeting new client acquisition objectives.What you will be doing:Drive business development, maintaining a strong market profile with assigned partners and business
channels:

• Managing a team of Private Bankers and Associate towards achievement of team financial, developmental and other goals.
• Negotiating the team’s financial and other performance objectives.
• Actively market customized Private Banking credit solutions (Total Wealth Credit Solution), to support wealth creation or diversification strategies, insurance solutions, currency and interest rate risk management.
• Developing and executing new business strategies at the team level to attract and retain high net worth clients.
• Develop client management plans and make referrals that result in deeper client relationships.
• Develop an in-depth understanding of client needs and proactively make referrals to: Private
• Investment Counsel, ScotiaTrust, ScotiaMcLeod, Commercial and Retail Bank.
• Conducting selling-skills coaching and other training to support team objectives.
• Identifying prospects and referrals from internal and external networks / COIs.
• Maintaining a strong prospect sales pipeline, conducting sales calls and qualification of opportunities based on effective due diligence. Coaching to convert sales opportunities to closed business.
• Engaging and informing client management partners as to changes in client information and priorities.

Provide Sales Management leadership to a team by:

• Leading, coaching and motivating sales team to achievement of profit plan.
• 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.
• 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 Private Banking unit and longer-term requirements of the Bank.
• Creates an environment in which his/her team pursues effective and efficient operations of his/her 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.

Lead Portfolio Management and Risk Mitigation by:

• Working directly with Retail credit adjudication (ACE) or with Wealth Credit Solutions for customized credit, negotiate standard Bank terms, conditions, structuring fees, interest rates and documentation.
• Providing relationship banking and the highest quality of administrative support to a portfolio of complex, high net worth/ultra-high net worth clients.
• Using knowledge of Scotiabank’s diverse products and services to anticipate client needs and proactively deliver solutions through referrals to other Bank partners.
• Managing client relationships to ensure that credit facilities and accounts are operating satisfactorily.
• Proactively identifying and mitigating problem loans, including bringing potential problems under correspondence as soon as identified.

Maintain Operational Effectiveness by:

• Ensuring daily and periodic management controls are in place and effective.
• Monitoring non-interest expenses against planned budgets, ensuring that the Manager, Client Services has appropriate and reasonable explanations for variances.
• Providing direction, guidance and support to the Manager, Client Services as required, through coaching and periodic participation in Service Meetings and Skill Buildings sessions.
• Reviewing and resolving client concerns and issues and ensure that the Bank’s Customer Complaint Resolution Process is in place and effective.
• Ensuring strict adherence to Bank security procedures, including assigned authorities andlimits.
• Ensuring unit compliance with regulatory requirements and guidelines, including Privacy, Anti-Money
• Laundering/Anti-Terrorist Financing, FCAC, Know Your Customer, CDIC, Occupational Health &Safety.
• Ensuring thorough knowledge of, and strict adherence to, the Bank’s Global Sales Principles.
• Escalating fraudulent activities, unusual occurrences, issues, deficiencies, or trends as applicable.

Manage Credit Risk management by:

• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Fulfilling all retail credit requests through retail adjudication processes or working with the Wealth Credit Solutions team to develop commercial/customized credit proposals.
• Ensuring credit facilities operate within authorized terms and conditions.
• Ensuring the Bank’s exposure is protected by way of adequate security requirements (if required) and appropriate credit conditions, resolving any issues that may arise. When applicable, escalate concerns to the Director or Managing Director with sound recommendations.
• Developing sound commercial underwriting skills within the team.
• Ensuring security documentation is accurately prepared, complete, registered and renewed as required.
• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

Do you have the skills to enable you to be successful in this role? We would love to work with you if you have:

• Minimum 5 years of commercial lending experience and 10 years banking experience
• University degree (BComm, MBA, CFA), in addition to industry courses (eg. CSC, PFP, CFP)
• Must be an experienced banker with exceptional interpersonal, leadership and business development skills
• The Private Banking market is financially sophisticated, demanding and results oriented. In order to pursue this Market, you require:
• Extensive knowledge of customized lending, commercial underwriting and proven ability to make sound credit recommendations
• Advanced and proven deal structuring, negotiation and sales management skills with superior closing capabilities
• Advanced marketing, communication, networking, supervisory, interpersonal and business development skills
• Strong presentation, risk assessment, analytical, accounting and financial analysis skills
• Experience with sophisticated lending and risk management solutions, including currency and interest rate risk management, investment and insurance lending
• Good understanding of tax, estate, financial planning and investment vehicles
• Ability to engage 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 Private Banking value proposition with preferred knowledge of overall Scotia Wealth Management plus support group relationships across the organization
• One-on-one coaching of direct reports requires well-developed listening and communication skills

Location(s): Canada : Alberta : EdmontonScotiabank 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 . 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.

Expected salary:

Location: Edmonton, AB – British Columbia

Job date: Wed, 21 May 2025 22:40:30 GMT

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