Job Description

Requisition ID: 162800

As a cornerstone business within Scotia Wealth Management, ScotiaMcLeod has earned a reputation for integrity based on service excellence and trusted investment advice. Our advisors and teams pride themselves on exploring innovative approaches to protecting and growing their clients' assets.

When you join ScotiaMcLeod, you'll be empowered to deliver Enriched Thinking, a unique approach that incorporates your client's thinking, as well as our thinking, to drive results. You'll work with a team of specialists to deliver a client-centric approach to wealth management, enabling you to consider all the facets of your client's life, family and business. With a focus on total wealth planning, and wealth specialists to help you deliver on this unique value proposition, you'll be enabling clients to see not just the big picture, but all the little ones too.

Purpose
Leads and oversees Variable Compensation, ScotiaMcLeod, Global Wealth Management in Canada ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures.

Acting as the subject matter expert for ScotiaMcLeod Variable Compensation, contributes to building and maintaining a strong platform that supports a high-performance sales force and branch network and efficiently managing the Variable Compensation team, administering compensation policies and procedures corresponding payroll and accounting duties, and creating operational efficiencies where applicable.

Accountabilities

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Provides day-to-day management and oversight to the Variable Compensation team to achieve a high level of accuracy and detail when administering commissions and payroll for ScotiaMcLeod Wealth Advisors and their Support Staff

- Act as subject matter expert on Advisor compensation programs to monitor and manage approval process

- Manage policies and procedures, grid level adjustments, end to end annual reviews, reporting, and tracking

- Manage and maintain the Discount Sharing Policy, tracking and providing all approvals

- Assist in the Advisor Agreement and Succession planning process, providing analysis and feedback

- Establish and maintain compensation process documentation for all workflow and system procedures necessary to support internal processes, system processing and to support business continuity

• In concert with the Director Business Planning, oversee accounting and reconciliation of commissions, expense journals, accounting journals, research and analysis on reporting, and year end audit
• Provide leadership on Sales Management policy support, project management and initiatives to streamline and drive improvements and updates to compensation processes, supporting payment and reporting needs

- Manage compensation policies, procedures, and implementation of new processes ensuring up-to-date information is provided to the field via support calls and WealthNet updates

- Provide support on projects and initiatives, ensuring alignment with business line strategic focus

- Facilitate the effective communication of the initiative and ensure all partners are aligned

- Maintain the reporting, tracking and analysis for various programs, for Sales Management, Regional Offices and Branch Managers

• Lead Field Management Support, ensuring timely control, execution, and resolution of specific requests on policy clarification, data confirmation and integrity, as well as operational issues by liaising with all levels of Sales Management. Provide guidance to Branch Management teams on compensation related issues while ensuring the highest quality client service
• Act as primary point of contact with HR Services teams to provide guidance, direction and expertise on Advisor and support staff compensation enquiries and issues, ensuring timely and accurate resolution. Support the HR Services team needs for ongoing training and reference documents on ScotiaMcLeod structure, compensation, step-outs and audits to build and maintain a high level of knowledge and data integrity
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
• 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.

Education / Experience / Other Information

• Education: University Degree preferred
• CSC/CPH preferred
• Brokerage experience preferred
• Knowledge of compliance and regulatory issues preferred
• Must have good knowledge of wealth management concepts; financial instruments
• Knowledge of back office processes; brokerage operational processes and end to end workflows an asset
• High level of competency using Excel, Word and to a lesser extent PowerPoint
• Good knowledge of Access
• Ability to lead change management processes and have strong planning, organizational and problem-solving skills to anticipate and manage issues proactively
• Must possess strong interpersonal and communication (written and verbal) skills in order to effectively work with stakeholders, partners and senior management. The incumbent is expected to use diplomacy, judgment, and persuasion (to build and maintain strong working relationships, secure agreement and co-operation)
• Highly professional and able to exercise discretion when working with sensitive and confidential information

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.