Premium Relationship Officer

Premium Relationship Officer

In the world of Banking and Financial Services, Scotiabank goes to great lengths to ensure a truly unique experience for both our customers and staff. If you are talented, tenacious, team-oriented and excited about a career in the financial services industry, Scotiabank has a position for you.

PREMIUM RELATIONSHIP OFFICER

Contributes to the overall success of the Department / Business Area in Barbados ensuring specific individual goals, plans, initiatives are executed / delivered in support of the team’s business strategies and objectives. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.
The Premium Relationship Officer is responsible for contributing to the branch’s overall success by meeting the financial needs of the mid-market affluent segment by selling personalized financial solutions and superior customer service. The incumbent is expected to attract, manage and deepen the Bank’s relationships with these customers by providing a differentiated customer experience that supports the Premium Banking value proposition.
The mandate of the Premium Relationship Officer is to offer advice to personally meet a customer’s banking, credit and investment needs. The PRO will also solicit and action referral opportunities to grow the portfolio while identifying referring opportunities to segment partners where appropriate.
The PRO is responsible for meeting negotiated goals on portfolio growth, portfolio profitability (if available), portfolio size, number of products per customer, sales, and sales productivity, along with objectives relating to customer service, cross-segment referrals, operational effectiveness, teamwork and personal development. In addition, the RO is expected to provide individual, straightforward and knowledgeable service to create a relationship of mutual trust and confidence with Premium Banking customers and colleagues.

MAJOR ACCOUNTABILITIES

1. Champions a customer focused culture to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
2. Meet or exceed weekly, monthly and annual individual sales targets across product categories by providing personalized financial solutions to meet the needs of Premium Banking customers
• Negotiate and establish individual goals with direct supervisor and/or the Branch Manager.
• Develop personal business plan and execute it within established time frames.
• Using the Sales Conversation Roadmap, proactively anticipate the full set of financial needs of the Premium Banking customer and offer solutions through a wide range of financial tools, products and services, including offering investment products where applicable or making referrals to the appropriate Scotiabank partner.
• Efficiently complete sales administration to minimize re-work and meet customer expectations on timeframes.
• Conduct effective pipeline and time management to ensure sufficient sales activities to achieve targets; track all pipeline and sales activities in CRM.
• Understand the benefits, promote and sell the Premium Banking product offering.
• Maintain current and thorough knowledge of product features, benefits, pricing policies and procedures for all retail products, including legislation for which products can be sold in the branch.
• Maintain a good understanding of the local competitor landscape, including value propositions, competitive offers and leading rates in market.
• Keep up to date with local and global economic developments and business trends such as those distributed to Premium Banking customers on a quarterly basis.
• Participate in Premium Banking training & development programs to keep skills and knowledge up to date.
• Participate in weekly coaching with direct supervisor, weekly sales meetings, daily kick-off, Premium Banking meetings and other Sales & Service disciplines as required.
• Review regularly sales performance to identify gaps and develop action plan to close.
• Participate in coaching and training sessions conducted by Manager, Sales & Service Coach and Investment Consultants (where applicable).
• Advise customers on investments appropriate to their stated goals, objectives, and risk tolerance.
• Authorize applications within policy and limits, provide sound recommendations to superiors for applications above authorized limits and/or to MDO/Supervising office for out of policy decisions that have merit (where applicable).

3. Actively manage, grow and retain product holdings of Premium Banking Customers
• Seek to grow customer share of wallet by identifying balances with other institutions, using the Bank’s tools and migrate to Scotiabank.
• Regularly review portfolios to assess a customer’s current product suite relative to his/her financial goals and recommend appropriate solutions consistent with his/her needs.
• Determine the purpose and timing of the next contact, and diarize it using CRM.
• Actively participate in all Bank promotional programs and marketing initiatives targeted at Premium Banking customers, including execution of any Direct Marketing campaigns.
• Pro-actively manage and execute customer contact strategy to maintain regular touch-points, minimum quarterly, with existing customers.
• Conduct annual face-to-face review with customers to uncover changes in financial goals and needs and be able to personalize a solution to meet those needs.
• Set up and educate customers on alternate channel options so they can transact in a way most convenient for them.
• Ensure customer contact information is up-to-date during customer interactions in order to reflect any changes in activity or personal information.

4. Grow the Premium Banking customer base
• Proactively source and acquire new Premium Banking relationships by maximizing customer referral opportunities from existing, satisfied clients.
• Collaborate with business partners (e.g. Brokerage, Insurance, Small Business and Scotia Mint) to ensure that qualified Premium leads/referrals are identified and actioned.
• Develop centres of influence outside the Bank, (e.g. accountants, real estate agents, associations, etc.) to act as external referral sources.
• Effectively welcome new Premium Banking customers into Scotiabank.

5. Identify referral opportunities to other lines of business (e.g., Insurance, Brokerage, SPCG, Small Business, Commercial)
• Effectively identify customer needs in other lines of business (e.g., Small Business, Wealth Management, and Commercial) and generate the referral using the appropriate Bank process.
• Follow up to ensure lead is actioned the customer is satisfied with the outcome.
• Maintain working knowledge of features, benefits, pricing policies for small business, wealth management and commercial products to effectively identify referral opportunities.

6. Consistently deliver the desired Premium Banking customer experience during all customer interactions to achieve the Branch’s Customer Advocacy (e.g. Pulse, NPS, CAP) goals
• Act as the key relationship manager and main contact for Premium Banking customers.
• Leverage Premium servicing support (where available), other branch staff or non-branch channels to ensure customers transactional needs are met in a timely and professional manner; follow-up as needed to ensure customer needs are met.
• Proactively manage any significant issues Premium Banking customers have with their banking products or services. Take ownership of these issues and facilitate a satisfactory outcome for the customer within agreed timeframes.
• Present a professional image at all times.
• Ensure workstations and other customer facing areas are organized.
• Collaborate with the branch team in the execution of the Customer Advocacy (e.g. Pulse, NPS, CAP) Action Plan.
• Complete individual Service Check-up’s /Branch-at-a-Glance quarterly for review during coaching.
• Consistently deliver our Service Promise:
o Make every customer feel welcome.
o Take time to understand and anticipate customer needs.
o Provide advice and solutions that are right for each customer.
o Follow-through and keep promises.
o Sincerely thank every customer, every time.

7. Execute the Branch Compliance/Security responsibilities as reflected in the Branch Services and Procedures Manual
• Apply the Know Your Customer (KYC) requirements including verifying Customer identity, and documenting the source(s) of funds, purpose of the account, nature and expected activity that is to be undertaken.
• Confirm accuracy of existing KYC information and update as required.
• Ensure bank and customer information is kept secure and confidential at all times.
• Adhere to Bank and Branch security procedures with respect to assigned authorities and responsibilities.
• Report any unusual transaction or fraudulent activity to your Compliance Officer / Supervisor as soon as you become aware of it as per established policies and procedures.

8. Maintain an ongoing commitment to personal development and fostering a positive team environment:
• Create an Employee Development Plan annually and following through on the agreed actions geared toward improving or developing skills required for your position or future potential roles.
• Actively participate in the Applause Program by recognizing members of your branch team and other partners across the Bank.

9. Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.

10. Actively 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, 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.

11. Champions a high-performance environment and supports leaders in the development of a people strategy that motivates others and fosters an inclusive work environment.

EDUCATION/DESIRABLE CRITERIA

Working Knowledge of:
Branch routines and operating procedures
Desktop software programs, i.e., Lotus Notes, MS Word, MS Excel, etc.
Product features, benefits and pricing for small business and commercial products

Thorough knowledge of:

• Customer service delivery by executing Our Service Promise
• Product features, benefits, pricing, policies and processes for all retail banking products
• Alternate channel offerings, i.e., internet banking, mobile banking and ATMs
• Current economic events and market trends
• Competitor offers
• Agenda management, pipeline management and sales tracking
• Sales and Service technology platforms, the core banking platform and reports
• Regulatory compliance and AML/ATF requirements in relation to the sale of the Bank’s products, storage of information and the ongoing monitoring of customer relationships, specifically in relation to Know Your Customer requirements
• The role the International Banking Loan Development Centre/Lending Services Unit fulfils for the branch in credit adjudication or credit request outside the branch/country limit, and how to develop the application for submission
• Credit adjudication policies and processes as they apply to retail and/or small business lending products and the application of those policies in the input of an application
• Cross-segment (retail to wealth management or commercial) and internal (within retail segments or retail to small business) referral process, Product features, benefits, pricing, policies and processes for all retail banking products

Please submit your applications by August 9, 2021