Senior Associate Private Banker

Scotiabank; Toronto; On-site; CAD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Senior Associate Private Banker to join their dynamic team in Toronto. This role focuses on managing a portfolio of high-net-worth clients, developing strong relationships, and ensuring compliance with banking regulations. The ideal candidate will have substantial experience in commercial and retail banking, along with a deep understanding of financial planning and investment strategies. Fluency in Spanish is essential for engaging with a diverse clientele. This opportunity offers a pathway to advance into a Private Banker role, contributing to a culture that values inclusivity and high performance.

Qualifications

• 5 years of banking experience with a focus on client relationship management.
• Strong understanding of financial planning and investment vehicles.

Responsibilities

• Manage a portfolio of high-net-worth clients and develop relationships.
• Ensure compliance with regulatory requirements and internal policies.
• Identify and address credit issues proactively.

Skills

Commercial banking experience

Retail banking experience

Understanding of commercial credit principles

Fluency in Spanish

Client relationship management

Education

University degree

Community college degree

Job description

Requisition ID: 223453

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

Purpose

The Senior Associate Private Banker is a role focused on junior portfolio management. The role is designed to provide a successful incumbent with the necessary skills and experience to potentially take on a Private Banker role in the future. The Senior Associate Private Banker has a portfolio of assigned clients along with new business and referral goals appropriate for the position. This position will have a focus on Mexico and Colombia.

What you will be doing:

Relationship management and business development:

1. The incumbent will manage a client portfolio of high-net-worth clients.
2. Develop a professional, mutually beneficial relationship between the client and Private Banking.
3. Attend client meetings to build relationships and obtain relevant information to understand client needs.
4. Provide prompt responses to client or senior management requests and inquiries, problem solving for clients and assisting them with navigating different areas of the Bank.
5. Maintain knowledge of and relationships with specialized areas of the Bank which may be of benefit to Private Banking clients.
6. Develop and manage a business plan incorporating sales targets and marketing strategies.
7. Deepen client relationships by identifying cross-sell opportunities and providing quality referrals to business line partners.
8. Ensure the efficient administration of client accounts, loans, investments, etc.
9. Develop an understanding of the Private Banking client profile.
10. Maintain accounts within the conditions and limits of authorization by monitoring their financial status, identifying problem situations early, and initiating corrective actions where required.
11. Ensure security documentation is accurately prepared, completed, registered, and renewed as applicable.

Risk management:

1. Review all written authorizations to ensure accuracy, completeness, and clarity.
2. Follow up for acceptance of client offers/documentation and address any problems, amendments, and extensions, reporting to senior management where necessary.
3. Promptly and effectively address issues surrounding the adequacy, quality, and completeness of loan documentation and security.
4. Adhere to regulatory and internal Bank policies and requirements.
5. Participate in meetings with customers, proactively identifying credit and other issues.
6. Proactively identify problem accounts and negative trends.
7. Review accounts which are offside/overdrawn or in arrears and take action to regularize the account.
8. Assist with client restructuring including obtaining additional security or realizing on collateral.

Operations Management:

1. Organize workflows to maintain maximum efficiency.
2. Prepare returns and correspondence in an accurate and timely manner.
3. Comply with regulatory requirements as part of the service process, including Know Your Client (KYC), Canada Deposit Insurance Corporation (CDIC), Financial Consumer Agency of Canada (FCAC), Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF), Privacy and Occupational Health & Safety (OHS) requirements, processes and guidelines as well as SSI guidelines/processes.

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

1. 5 years of Commercial or Retail banking experience, as well as an understanding of commercial credit principles.
2. A university or community college degree preferred.
3. A good understanding of tax, estate, financial planning, and investment vehicles.
4. The ability to relate comfortably with affluent and influential clientele in both business and social contexts, demonstrating a high degree of poise and professionalism at all times.
5. Fluency in Spanish is required.

Location(s): Canada : Ontario : Toronto

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.