Purpose

This position is a trusted advisor of private wealth services and acts as registrant in the management of investment portfolios by ensuring asset mix and total return meet client’s short- and long-term income and investment growth goals, using approved securities and following corporate investment strategies.

Work closely with PIC Wealth Managers and Wealth Associates to manage client relationships. Fulfill the role as the investment expert in relationship, assessing clients’ investment needs, setting appropriate investment objectives and ensuring accurate implementation and monitoring of portfolios (KYC / KYP and determining suitability).

Provide mentorship and guidance to Wealth Associates and Wealth Managers on their career development journey towards registration and help them develop their relevant investment management experience.

Accountabilities

1. Portfolio 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
• Actively managing the client’s Financial Plan and wealth strategy and participating in the client’s annual Financial Plan review process
• Developing and executing upon strategies to address unique situations including but not limited to:
- Transition of new accounts to central models
- Accounts with must hold or illiquid positions
- Unique IPS or Investment Objectives
- Non-discretionary accounts
• Staying abreast of changes to the central models and connecting with the Wealth Advisor to discuss affects to client’s portfolio and stated objectives• Developing mock meetings and practice for WA recommendations of appropriate investment asset mix aligned with life goals, income needs, return expectations and risk tolerance that fulfills client objectives

1. Client Relationship Management

• Working collaboratively with the Wealth Manager to satisfy client needs
• Conducting ongoing wealth conversations with clients, developing and sustaining an intimate and ongoing understanding of client life goals, circumstances and wealth needs
• Providing life-based wealth advice and solutions, focusing on enabling client goals
• Based on an intimate understanding of their clients’ situation, identifying and capitalizing on new business opportunities throughout the lifecycle of client relationships
• Consistently delivering the desired client experience during all client interactions
• Using strong knowledge of the Bank’s, Scotia Private Client Group and Private Investment Counsel diverse products and services, to ensure the client’s needs are well understood, documented and satisfied
• Partnering with all internal product/service business partners, as required ensuring client needs are met
• Monitoring of client accounts to ensure optimal profitability is maintained in each relationship

1. Contribute to the effective functioning of the Centralized Portfolio Management team by:

• Building effective working relationships across the team and with various business line and corporate function contacts
• Maintaining a high level of customer service
• Facilitating a culture of open and honest communication
• Actively participating and contributing to touch bases and team meetings
• Encouraging the generation of new ideas and approaches
• Actively share knowledge and experience to enhance the development of all team members
• Developing and executing a meaningful employee development plan

1. 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
• Minimizing the Bank’s overall exposure to risk
• 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

Education / Experience

• University Degree (Business, Economics, Accounting, Finance)
• CFA or CIM Designation Required, CAIA Designation is an asset
• Proficiency in Mandarin or French is considered a strong asset for this role.
• Currently registered as an Advising Representative (AR) or must meet the regulatory requirements to be registered with the appropriate securities commissions
• Minimum 5 years direct experience in discretionary investment management, covering both financial analysis and managing portfolios (individuals, estates, trusts, pension plans, foundations, registered accounts), with an expert understanding of investment returns, potential risks and the associated tax implications
• Thorough investment management know-how and depth of experience, as it relates to understanding economic and capital markets data in order to describe the firm’s investment strategy to partners and clients
• Strong relationship management skills
• Strong interpersonal and communication skills
• Advanced knowledge of MS Office, Salesforce, knowledge of Mpower

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