Private Banker

Scotiabank; Victoria; On-site; CAD 90,000 - 120,000; Full time

Job summary

A leading financial institution is seeking a Private Banker to provide customized lending solutions and manage relationships with high net worth clients. The role involves business development, risk management, and maintaining operational effectiveness. Ideal candidates will have extensive banking experience and a strong network of clients.

Qualifications

• Minimum 5 years of commercial lending and 10 years of banking experience.
• 3-5 years managerial experience in commercial/retail banking.

Responsibilities

• Deliver tailored service and lending solutions to high net worth clients.
• Identify prospects with complex lending needs and develop acquisition strategies.
• Manage approximately 150 high net worth households.

Skills

Interpersonal Skills

Leadership

Business Development

Education

University degree (BComm, MBA, CFA)

Job description

Join a purpose-driven, high-performing team committed to results within an inclusive culture.

Job Purpose :

The Private Banker has extensive knowledge of customized commercial lending, risk management, financial products and services, wealth management, and retail lending. The role involves delivering tailored service and lending solutions to high net worth clients.

This position focuses on acquiring new clients, cross-selling, up-selling, and retaining existing high-value Wealth Management clients. Responsibilities include identifying prospects with complex lending needs, developing acquisition strategies, growing relationships, maintaining a sales pipeline, conducting sales calls, and qualifying opportunities based on customer data and due diligence.

The incumbent manages approximately 150 high net worth households and plays a key role in business development, with targets for lending, fees, deposits, and referrals.

In this role you will :

1. Lead Portfolio Management and Risk Mitigation :

• Collaborate with Retail credit adjudication (ACE) or Wealth Credit Solutions for customized credit, negotiate terms, structuring fees, interest rates, and documentation.
• Provide relationship banking and support to a portfolio of complex, high net worth clients.
• Utilize knowledge of Bank products to anticipate client needs and deliver solutions through referrals.
• Manage client relationships to ensure satisfactory operation of credit facilities and accounts.
• Identify and mitigate problem loans proactively.
• Serve as the Primary Relationship Manager (PRM), using the Financial Planning process to understand client needs and maintain service standards.
• Refer clients to SPCG Team of Experts and develop multiple service relationships based on client strategies.
• Participate as a key member of the Centre's Team of Experts to address client needs.

2. Drive Business Development :

• Market customized Private Banking credit solutions to support wealth strategies, insurance, and risk management.
• Develop and implement strategies to attract and retain high net worth clients, including client management plans and referrals.
• Understand client needs and refer to other banking services as appropriate.
• Identify prospects and referrals through networks and COIs.
• Maintain a strong sales pipeline, conduct sales calls, and qualify opportunities.
• Inform partners of client updates and priorities.

3. Maintain Operational Effectiveness :

• Ensure management controls are effective.
• Monitor expenses against budgets and explain variances.
• Support team development through coaching and participation in meetings.
• Resolve client concerns and ensure compliance with customer complaint processes.
• Adhere to security procedures and regulatory requirements.
• Report suspicious activities or issues.

4. Manage Credit Risk :

• Handle credit requests through adjudication or with Wealth Credit Solutions.
• Operate within authorized credit terms.
• Secure adequate collateral and resolve issues promptly.
• Develop underwriting skills and ensure security documentation is complete and renewed.

5. Contribute to Team Functioning :

• Participate in team development activities and performance goals.
• Build relationships across teams and maintain high customer service standards.
• Foster open communication, share knowledge, and support employee development.

Skills and Experience :

• Minimum 5 years of commercial lending and 10 years of banking experience.
• Established network of high net worth clients in Canada.
• 3-5 years managerial experience in commercial/retail banking with high net worth clients.
• Exceptional interpersonal, leadership, and business development skills.
• University degree (BComm, MBA, CFA) and industry courses (CSC, PFP, CFP).

Scotiabank is committed to diversity and inclusion. Accommodations are available upon request during the recruitment process. Candidates must apply online; only shortlisted candidates will be contacted.