Associate Portfolio Manager, Private Investment Counsel

Scotiabank - Toronto, ON (30+ days ago)

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Requisition ID: 80749

Join the Global Community of Scotiabankers to help customers become better off.

Job Purpose

The Associate Portfolio Manager (APM) role in PIC is that of a trusted advisor to high-value clients – clients who are provided with top-notch investment advice, customer service, and value with the goal of meeting their short, mid and longer-term investment needs. This is done through a firm wide investment strategy, along with a disciplined and defined wealth management process which forms the basis of PIC’s value proposition.

An Associate Portfolio Manager develops, grows, and nurtures client relationships as a means of gaining a deep and intimate understanding of clients’ life goals, needs and circumstances in order to provide investment counsel that is integrated into life based wealth advice and solutions. Through this understanding, a PIC APM is responsible for engaging Bank and Scotia Wealth Management partners as needed to fulfill clients’ holistic and unique wealth needs. We do this in PIC by leveraging our esteemed “team of experts” who help us deliver on our wealth promise of a superior and comprehensive client experience.

This role focuses on managing, retaining, and deepening existing relationships with PIC Centre clients with a strong focus on customer service, relationship management and investment advice. PIC Centre is comprised of clients with $350-750k of assets under management, with each APM managing a book of business of approximately 100-150 client relationships at any given time (subject to change). Client contact is mainly by phone however, face-to-face meetings occur as well.

The successful incumbent will understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions, ensuring that all activities conducted are in compliance with governing regulations, internal policies and procedures.

Successful candidates must meet the regulatory requirements to be registered with Ontario Securities Commissions (OSC) as an Associate Advising Representative (registration required to use the Associate Portfolio Manager title).

Functional Competencies

Thorough investment management know-how and depth of experience required as it relates to understanding economic and market data in order to describe the firm’s investment strategy to partners and clients
Strong ability to explain financial and wealth strategies and concepts integrated with firm-wide investment strategies
Expert relationship management skills
Strong interpersonal, relationship management, communication, impact and influencing skills
Results-driven & oriented toward goal achievement
Motivated self-starter who is autonomous and confident by nature, while being disciplined in their approach to managing clients’ wealth
Possess a high degree of Integrity and business ethics.
Thorough knowledge of each SWM & PIC Business Line’s value proposition.
Thorough knowledge of the full SWM product and service offering in order to identify opportunities across the SWM Team of Experts
Working knowledge of the products and services offered by Scotiabank partners to identify and refer clients as appropriate.

Education/ Experiences

University Degree (Business, Economics, Accounting, Finance)
CIM or CFA (minimum Level 1 complete)
Minimum 2+ years of direct experience in a client-facing, relationship management role providing discretionary investment management in a comparable firm setting to high-valued clients. Successful candidates must be able to demonstrate this experience, plus the ability to perform financial analysis and research along with an expert understanding of investment risk, returns, and tax implications of various investment strategies.

Key Accountabilities

Delivering exceptional client experience and leveraging PIC’s value proposition to deepen client relationships.
Developing a professional, mutually beneficial and profitable relationship between the client and Private Investment Counsel.
Conducting ongoing wealth conversations with clients, developing and sustaining an intimate and ongoing understanding of client life goals, circumstances and wealth needs in order to meet their investment needs.
Providing life-based wealth advice and solutions, focusing on supporting clients’ overarching financial goals.
Based on an intimate understanding of their clients’ situation, identifying and building upon new business opportunities throughout the lifecycle of client relationships.
Using strong knowledge of the Bank’s, Scotia Wealth Management and Private Investment Counsel’s diverse products and services, to ensure the client’s needs are well understood, documented and fulfilled.
As the primary relationship manager, acting as the central point of contact for all client needs.
Directing and utilizing the team of experts to deliver on wealth strategies and the wealth value promise.
Partnering with all internal product/service business partners, as required ensuring client needs are met.
Actively listening and seeking client feedback on products, services and the delivery of client experience.
Effectively using and adhering to best practices as it relates to our contact management systems and salesforce tools.
Prompt issue-resolution with appropriate escalation to senior management, if and when needed.
Monitoring of client accounts to ensure optimal profitability is maintained in each relationship while adhering to compliance & regulatory requirements.

Investment Management:
Utilizing the KYC process and Investment Profile Questionnaire (IPQ) to develop an in-depth understanding of client’s needs and determining the appropriate asset allocation model based on needs, risk tolerance and objectives.
Recommending an appropriate investment asset mix aligned with life goals, income needs, return expectations and risk tolerance that fulfills client objectives.
Collaborating with the Centralized Portfolio Management group and using defined investment management processes to communicate advice to clients on their strategic asset allocation, models and underlying investment portfolio.
Regularly monitoring client investment portfolios to ensure adherence to best practices and regulatory requirements.
Actively managing the client’s Financial Plan and wealth strategy, including participation in the client’s annual Financial Plan review process.
Business Development
Developing and managing business plans including sales targets for prospective and existing clients.
Using a PIC defined business development and sales planning process to consolidate assets from existing clients in order to increase share of wallet.
Identifying opportunities to gather additional assets and/or increase revenue from existing clients.
Building and maintaining an awareness of local market and general economic conditions.
Liaising with Bank & Wealth specialists to stay abreast of new enhancements, products and services, as necessary.
Successfully collaborating and networking with internal and external stakeholders.
Risk Management/Compliance
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.
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.
Minimizing the Bank’s overall exposure to risk by being diligent.
Maintaining client portfolios in accordance with established firm strategy which includes, utilizing the Central Portfolio Models and pools, focusing on client segmentation and client’s risk appetite.
Ensuring the suitability of wealth and investment recommendations and alignment with clients’ financial goals, objectives and risk levels.
Adhering 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.
Escalating, documenting and reporting any unusual occurrences, suspicious or fraudulent activities, as per established procedures.
Team Membership
Contributing to the effective and positive functioning of the Private Investment Counsel team and partners by being an engaged member of the team and the business.
Fostering and developing a strong, positive team environment, driving employee empowerment, innovation and a high degree of engagement.
Building effective working relationships across the team and with various business lines and partners, both internally and externally.
Facilitating a culture of open and honest communication.
Actively participating and contributing to coaching sessions, touch-bases, team meetings, networking and other business-related events.
Encouraging the generation of new ideas and approaches by keeping an open mind and being curious.
Participating in your own development by creating and implementing a professional development and business plan.
Acting as a mentor to junior colleagues and taking a leadership role on the team.

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. Our employees are committed to a superior customer experience and use the Bank’s 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.