Senior Manager, Value Proposition, International Private Banking - Toronto, ON

Scotiabank; Toronto; On-site; CAD 120,000 - 160,000; Full time

Job summary

Scotiabank, Toronto, seeks a Senior Manager to drive the IPB Value Proposition across onshore and offshore markets. You will coordinate with Global Wealth teams, define segment pricing, and ensure SLAs and processes align with client service standards.

You will influence cross-functional partners to deliver exclusive IPB offerings, manage product portfolios, and pursue partnerships to strengthen the international private banking value proposition.

Qualifications

• Minimum 5 years’ experience in wealth management and/or consulting for the Affluent, High Net Worth or Ultra High Net Worth segment.
• Excellent knowledge of all Private Banking, Retail Bank, Commercial Bank and Wealth Management products and services.
• Experience developing, implementing, reviewing, scaling a value proposition in financial services.
• Experience with product development in financial services/banking.
• Broad knowledge of the various business lines, segments and products.
• Good knowledge of sales and service design concepts and management techniques.
• MBA or degree in business or equivalent.
• Excellent knowledge of transactional products and services and investment products; taxation, insurance, retirement planning and estate planning.

Responsibilities

• Champions a client focused culture to deepen Private Banking client relationships and leverage broader relationships.
• Collaborates with in-country Private Banking teams to align Wealth Management products, solutions and services.
• Shares best practices related to the value proposition with International Private Banking teams.
• Pursues a culture of creating an exclusive Wealth Management offer for Private Banking clients across geographies.
• Collaborates with Private Banking teams to develop and implement products tailored to PB clients’ needs.
• Identifies external partnerships to improve IPB’s value proposition in areas like pricing, cash management, tax advisory, insurance advisory, digital solutions.
• Supports review and negotiation of SLAs and process reengineering for IPB products and services.
• Looks for opportunities to enhance IPB’s Digital agenda leveraging Bank capabilities.

Skills

MS Office

Excel

PowerPoint

Salesforce

Power BI

Education

MBA or degree in business or equivalent

Tools

Salesforce

Power BI

MS Office

Job description

Title: Senior Manager, Value Proposition, International Private Banking - Toronto, ON

Purpose

The Senior Manager is responsible for ensuring the PAC and CCA countries have a comprehensive suite of Wealth Management onshore and offshore products and services for Private Banking Clients, helping teams to deliver an exceptional client experience.

Private Banking is at the centre of our Wealth Management vision for client relationship management both onshore and offshore, therefore the Senior Manager, IPB Value Proposition will have to ensure alignment across the different markets, verify segment ownership over products and services (where applicable), define segment exclusive pricing methodologies, establish adequate processes and service level agreements to serve our clients in a timely manner and identify improvement opportunities. This role requires a deep understanding of the specific needs of our Private Banking clients, the ability to influence and work with multidisciplinary teams.

The primary purpose of the position is to support the development and deployment of the strategic initiatives of the Value Proposition for the PB segment, working together with other Wealth Management teams in Toronto and in the countries, in order to increase market share and profitability of Private Banking across International Wealth Management.

Accountabilities

• Champions a client focused culture to deepen Private Banking client relationships and leverage broader relationships.
• Collaborates with the in-country Private Banking teams in the development and alignment of Wealth Management products, solutions and services, understanding the business priorities, and helping the local teams making the necessary implementations according to the IPB Value Proposition strategy.
• Shares best practices related to the value proposition with International Private Banking teams, by understanding what works well in certain countries and using these insights to provide feedback and new perspectives on the overall model.
• Actively pursues a culture of creating an exclusive Wealth Management offer for Private Banking clients across all geographies, as part of the Total Wealth model, influencing and negotiating with stakeholders to ensure an exceptional client experience.
• Collaborates with the in-country Private Banking teams in development and implementation of Private Banking products tailored to the specific needs of PB clients including but not limited to Credit Cards, Deposit accounts, Investment alternatives, Cross border transactional services, Mortgages, Unsecured Lending, Wealth Lending, Philanthropy, etc.
• Identifies external partnerships with potential service/solutions providers to improve IPB’s Value prop in different areas like pricing, cash management, tax advisory, insurance advisory, digital solutions and platforms, loyalty etc.
• Supports the local review and negotiation of Service Level Agreements and process reengineering for Private Banking products and services, as part of our value proposition, ensuring times to market are in accordance with the value promise given to clients.
• Actively looks for opportunities and partnerships to enhance IPB’s Digital agenda leveraging Bank capabilities.

Design and management of International Private Banking Value Proposition

• Supports the design of the IPB Value proposition (principles and articulations across the segment) from a products and services perspective.
• Research to gather insights on clients (to understand the client view) for onshore and offshore needs.
• Coordinates with in-country Private Banking teams, the governance over the ongoing management and maintenance of segment solutions, taking into consideration their specific characteristics and conditions.

P & L Management

• Actively supports the development of the multi-year plan for the implementation of the IPB value proposition based on client segmentation data, market/economic conditions, IWM objectives and competitive positioning. Participates in the design and deployment of projects related to products and services implementation for IPB in the countries.

Sales and Strategy Support

• Support the definition of appropriate Products and Services suite including setting targets to close gaps according to the end-state model, developing business plans, regular assessments against minimum targets and standards, performance appraisals against existing value offer and competition.
• Works closely developing strong relationships with all relevant Wealth Management teams including Asset Management, Brokerage, Trust Services and partners including International Investment Advisory (IIA), Jarislowsky Fraser (JF), International Wealth Structuring (IWS), Global Banking & Payments, Corporate, Commercial & Multinationals, Affluent team (IB Retail) and IB Marketing.
• Continually analyzes new market trends, develops thorough understanding of the needs of Private Banking clients, the competition, and regulatory and compliance environments and changes.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

Governance

• Familiar with Know Your Client (KYC) and AML/ATF policies.
• Ensures familiarity with all relevant AML/ATF Regulations which impact the business.
• Participates in other assignments and or projects as required.

Education / Experience / Other Information

• Spanish is desirable
• Minimum 5 years’ experience in wealth management and/or consulting for the Affluent, High Net Worth or Ultra High Net Worth segment
• Excellent knowledge of all Private Banking, Retail Bank, Commercial Bank and Wealth Management products and services as well as a thorough understanding of commercial and retail credit principles. He/she must also possess strong credit skills.
• Experience developing, implementing, reviewing, scaling a value proposition in financial services.
• Experience with product development, in financial services/banking
• Broad knowledge of the various business lines, segments and products
• knowledge on sales and service design concepts and management techniques
• Excellent knowledge of transactional products and services and investment products. Adequate knowledge and understanding on taxation, insurance, retirement planning and estate planning.
• Experience in process engineering and leaner practices applied to banking
• Ability to evaluate risk, to identify control weaknesses, contribute to the development of policies, implement supporting procedures and to report on non-compliance effectively
• Proficiency with MS Office (particularly Excel and PowerPoint), Salesforce, Power BI
• MBA or degree in business or equivalent
• Exceptional interpersonal skills and able to develop solid relationships with IWM’s stakeholders
• Very strong understanding of the country’s business and political environment in IWM footprint
• Strong working knowledge of the competitive landscape (i.e. products and services offered by other financial institutions in applicable countries including niche competitors).
• Ability to keep up to date on past, current and future trends in the financial services industry.
• Strong organization & self-management skills to convert strategic objectives and plans into measurable results.
• Strong communication and presentation skills and ability to deal with all levels of management.
• Strong negotiating and listening skills.
• Strong strategic influencing skills and the ability to work in a cross-functional, matrixed work environment.
• A self-starter and team worker who is goal oriented
• Flexibility and strong organization skills to adapt to a wide variety of tasks and functions and to work effectively as a member of the International Private Banking and International Wealth Management teams.

Working Conditions

• Work in a standard office-based environment; non-standard hours are a common occurrence.

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.