Vice President & Managing Director, Scotia iTRADE

Job title: Vice President & Managing Director, Scotia iTRADE

Company: Scotiabank

Job description: Requisition ID: 104121

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

Purpose

Provides strategic direction, leadership and oversight for Scotia iTRADE, ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures.

Accountabilities

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.

• Leads the establishment of strategic business plans for building the business by:

• Developing a clear vision and business strategy for Scotia iTRADE that is aligned with and supportive of the overall Canadian Wealth Management and Canadian Banking strategies and business objectives
• Leading the development of strategic proposals and business cases that align with overall business, division and Bank objectives
• Overseeing the development and sustainment of key strategic alliances, partnerships and stakeholder relationships to ensure that appropriate resource are allocated to those business partners to support the achievement of the objectives of Scotia iTRADE strategies and clients
• Acquiring and maintaining a deep understanding of marketplace, strategies, key competitors, offerings, market positioning, client segmentation, technology trends, etc.
• As a key member of the Client Solutions & Direct Investing executive team, collaborates on the development and execution of key business strategies and projects to achieve broader Canadian Wealth Management (CWM) goals

• Leads the execution of strategic business plans for the business by:

• Leading the creation and implementation of growth and revenue generating strategies, business plans and programs focused on increasing market share, revenues, performance and profitability
• Leading and development and execution of marketing, business development, disciplines and programs, ensuring appropriate support across the business
• Leading the development of exceptional experiences across client and stakeholder segments
• Establishing and cultivating mutually collaborative relationships with the leaders of the other CWM businesses and Canadian Banking to generate referrals and cross-selling opportunities
• Leading the development and monitoring of profit plans, budgets and financial objectives – revenue, profit goals, sales forecasts, account acquisition targets, profitability, etc. – with appropriate metrics and reporting to measure and assess performance at all levels of the business
• Communicating and monitoring annual business plans with all key stakeholders

• Leads the management of operational, technology, risk, compliance and expense requirements for the business by:

• Creating an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, credit risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
• Directing day-to-day activities in a manner consistent with the Bank’s risk culture and the relevant risk appetite statement and limits. Communicates the Bank’s risk culture and risk appetite statement throughout their teams.
• Ensuring that appropriate reporting, regulatory and compliance issues and client complaints, claims, and legal actions are addressed within required timeframes
• Staying current on existing and pending regulatory and compliance legislation and overseeing the business’ preparedness to meet all requirements
• Ensuring appropriate support is provided to the Scotia iTRADE team so they are able to deliver the highest quality of sales and service
• Ensuring that appropriate Business Continuity Plans are in place and can be executed as and when required
• Ensuring direct expenses are contained and costs effectively managed
• Ensuring that operational and technology requirements are resourced and employed to meet the needs of the business and clients and by establishing and driving alliances with internal and external IT suppliers as required
• Assist in effective liaison with internal departments and/or regulatory bodies
• Monitoring Regulatory requirements issues and trends to ensure ongoing awareness. Ensuring appropriate corrective action is taken upon the incidence of non-compliance

• Leads and manages direct reports to support achievement of business objectives by:

• Leading by example to create a committed, dynamic and creative team environment that will foster new ideas and solutions, with a high degree of employee diversity and engagement
• Builds a high performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment; communicating vision/values/business strategy and managing succession and development planning for the team.
• Establishing performance objectives in support of business strategies and key initiatives and ensuring the necessary support in place (i.e. rewards & recognition, coaching, employee development, training, etc.)
• Providing in-depth, mentoring, coaching and development to direct reports in order to build their management and leadership capabilities and prepare them for next career steps
• Ensuring the capabilities of the team can deliver on financial and operational requirements, while delivering an exceptional client experience
• In partnership with HR and Learning & Performance, ensuring the development of a high caliber workforce through a variety of talent management strategies and programs – talent acquisition, resource planning, employee engagement, learning & development, etc. to ensure there is sufficient depth and breadth of skill and expertise to meet future talent needs aligned with business objectives

Education/Experience

• Undergraduate degree in Business or a related discipline and/or MBA

• Required at minimum registered as a Non-Trading Officer/Director. Requires completion of PDO & CSC

• Minimum 10 years of experience in the investment/brokerage industry in a senior managerial capacity

• Strong knowledge of the regulatory environments applicable to the investment management industry

• Strong knowledge of the domestic and international brokerage and digital advice industries, including products

• Thorough understanding of the retail investment products/services offered across the entire global Scotia network.

• Thorough knowledge of the Bank’s global product distribution networks

• Strong understanding of the technological platform underlying the retail and full/online brokerage businesses and how they support the delivery, distribution and client experience

• Strong knowledge of the domestic and international brokerage industries including products, markets and risk management practices

• Proven ability to drive and manage a business line’s Profit and Loss

• Demonstrated ability and experience in developing and implementing strategic plan for a technology intensive business

• A track record of delivering results in a large multi-level global organization where it is key to understand internal relationships and influence decisions outside the scope of direct authority

• The incumbent leads, manages, makes decisions and takes action for Scotia iTRADE in an independent fashion, with a limited degree of consultation/direction.

Working Conditions

• Work in a standard office-based environment; non-standard hours are a common occurrence. Limited travel domestically/internationally.

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 . 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.

Expected salary:

Location: Toronto, ON

Job date: Sat, 01 May 2021 07:21:52 GMT