PIC Portfolio Manager, Central Investment Advisory
PIC Portfolio Manager, Central Investment Advisory
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Job Description
Requisition ID: 236320
Join a purpose driven winning team committed to results in an inclusive and high-performing culture.
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 clients 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 clients 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 clients Financial Plan and wealth strategy and participating in the clients 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 clients 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
2. 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 Banks Scotia Private Client Group and Private Investment Counsel diverse products and services to ensure the clients 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
3. 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
4. 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 Banks 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 clients 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 firms 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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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.
Required Experience:
Manager
Employment Type
Advisor
