Senior Manager, Ipb, Products & Solutions

Requisition ID: 195904
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Purpose

The Senior Manager IPB Products & Solutions 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 Products & Solutions 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 multi disciplinary teams. The primary purpose of the position is to support the Director IPB Value Proposition with 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

Is this role right for you? In this role you will:

• 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 and develops 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

• Participates and contributes with IWM Management to drive multiyear strategy adoption for Scotiabank's offshore client offering.
• Contributes to management of incentive frameworks (compensation, recognition, and total rewards)
• Actively manages a thorough understanding of client segments including HNW (entrepreneurs, professionals, multi-generational wealth) and UHNW.
• Track the evolution of PB segment value proposition the competition offers in key markets.
• Supports the design of the IPB Value proposition (principles and articulations across the segment) from a products and services perspective.
• Leads research to gather insights on clients (to understand the client view) for onshore and offshore needs.
• Leads and coordinates, together 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

• Participates on 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.

Talent Management

• Creates an environment in which their team pursues effective and efficient operations of their respective areas in accordance with Scotiabank's Values, its Code of Conduct and the Global Sales Principles, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions and conduct risk.
• Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; communicating vison/values/business strategy; and, managing succession and development planning for the team.

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

• 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
• In-depth knowledge on sales and service design concepts and management techniques
• A sophisticated/strategic sales approach which is solution based and that leverages the strength and capabilities of the organization.
• 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

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.