At a Glance
- Tasks: Provide investment advice and build relationships with clients to grow their wealth.
- Company: Join Alterna Savings, a member-owned cooperative with over 115 years of service.
- Benefits: Competitive salary, performance bonuses, and opportunities for professional growth.
- Other info: Dynamic work environment with a focus on community and member satisfaction.
- Why this job: Make a real difference in people's financial lives while developing your career.
- Qualifications: Post-secondary education and 5 years of experience in financial services required.
The predicted salary is between 60000 - 65000 € per year.
Location: Scarborough Branch, 410 Progress Ave, Scarborough, ON M1P5J1, CAN
Job Type: Full-Time
Vacancy Status: This posting is for an existing vacancy
Target Salary Range: 60,000 - 65,000 + OTE of 17K
The compensation for this position is determined by a combination of skills, experience and is aligned to the Market in which the job is posted. Your recruiter will provide additional details about our total rewards package during the hiring process.
Scope of Position
The Wealth Banker will drive the provision of investment-oriented financial advice, investment sales, asset consolidation and new client/member acquisition within assigned branches. The Wealth Banker works in conjunction with branch staff and is responsible for managing and building an assigned book of business made up primarily of members with identified multifaceted needs. Through proactive relationship management, the Wealth Banker retains and grows the wealth book through proactive contact, modular planning and annual reviews while working in conjunction with senior wealth team members to identify opportunities for more complex needs and referring based on the Wealth Segmentation model. Occasional travel to assigned branches may be required. Home Branch is Scarborough; Additional Assigned branches include Markham, Hamilton, Uxbridge, subject to change.
Key Responsibilities
- Proactively build solid working partnerships with branch teams to facilitate introductions to existing members/clients
- Leverage existing resources to actively contact members (marketing, call lists, referrals)
- Manage an assigned portfolio of members using financial planning concepts, advisory and relationship tools to meet members' investment needs
- Establish regularly scheduled contacts with members/clients to identify their needs
- Assist members/clients consolidate their financial assets at the credit union
- Enhance the wealth management knowledge of branch partners to create a financial planning experience that meets their members/clients’ financial needs, thereby enabling branch partners to reach their sales and acquisition targets
- Become an integral member of branch sales teams and create value for the branch partners by conducting regular information sessions
- Keep files on member relationships that include financial goals, notes, compliance records, and input into CRM
- Manage assigned member portfolio jointly with other specialists in Alterna (e.g., Credit and/or SME)
- Provide financial advice using PIP (Personal Investment Plan) financial planning tool
- Act as a mentor for less experienced staff under the guidance of the Branch Manager
- Triage referrals when necessary based on the complexity of the members/client’s requests
- Achieve high member satisfaction among assigned book of business, measured by retention statistics, new sales growth goals, referrals to wealth advisors and transfer of high-value accounts to Investment Advisors
- Increase portfolio value
- Increase member profitability
- Generate referrals to IA for complex investment portfolios
Qualifications
- Post‑secondary education combined with 5 years related experience in a financial institution or an equivalent combination of education and experience
- CSC or IFIC course completed with ability to be licensed immediately
- CFP or PFP preferred
- At least 2 years of financial advisory experience and demonstrated relationship‑building experience
- Proven track record in sales
- Good knowledge of products and services, including credit
- Sound knowledge of various computer applications, including Excel, Word, etc.
- Ability to demonstrate sales‑management techniques, identify needs and present solutions
- Superior sales abilities (active listening, identifying business opportunities, influencing & negotiating, asking for the business)
- Developed writing skills sufficient to communicate detailed factual information to members and various departments or partners
- Sound judgment
- Ability to work under minimal supervision
- Excellent interpersonal and communication skills
- Commitment to continuous learning
About Alterna Savings
Alterna Savings and Credit Union Limited (Alterna) has delivered The Good in Banking® for over 115 years, creating financial services that transform lives for the better, all while giving back to our community. Alterna is made up of Alterna Savings and Credit Union Limited and its wholly owned subsidiary, Alterna Bank. Alterna is the first full‑service, member‑owned cooperative financial institution outside Quebec, serving over 210,000 members through a network of 40 branches across Ontario, a call centre and multiple digital channels. Members and customers also benefit from an industry‑leading online brokerage and investment management services.
We appreciate all applicants; however, preference will be given to candidates who most closely meet the qualifications, key skills, and competencies outlined above. Alterna is compliant with the Ontarians with Disabilities Act and our team strives to provide an accessible accommodation experience. If you have a disability and require accommodations during the recruitment process, please contact our Recruitment Team and let us know how we can accommodate you. Alterna does not currently use Artificial Intelligence (AI) to screen, assess, or select applicants.
Wealth Banker in Scarborough employer: Alterna Sa
Alterna Savings is an exceptional employer that prioritises employee growth and community impact, making it a rewarding place to work as a Wealth Banker in Scarborough. With a strong focus on professional development, a collaborative work culture, and a commitment to providing meaningful financial services, employees are empowered to build lasting relationships with members while achieving their career goals. The supportive environment fosters continuous learning and offers competitive compensation, ensuring that team members thrive both personally and professionally.
StudySmarter Expert Advice🤫
We think this is how you could land Wealth Banker in Scarborough
✨Tip Number 1
Network like a pro! Get out there and connect with people in the industry. Attend local events, join finance-related groups on social media, and don’t be shy about reaching out to current Wealth Bankers for a chat. You never know who might have a lead or insight that could help you land that job!
✨Tip Number 2
Show off your skills! When you get the chance to meet potential employers, whether at a networking event or an interview, be ready to discuss your experience in financial advisory and relationship building. Use specific examples to demonstrate how you've successfully managed portfolios and achieved sales targets.
✨Tip Number 3
Don’t forget to follow up! After any meeting or interview, send a quick thank-you note. It shows your appreciation and keeps you fresh in their minds. Plus, it’s a great opportunity to reiterate your interest in the Wealth Banker position and highlight why you’d be a perfect fit.
✨Tip Number 4
Apply through our website! We’ve got all the latest job openings listed there, and applying directly can sometimes give you an edge. Plus, it shows you’re genuinely interested in being part of our team at Alterna. So, what are you waiting for? Get your application in!
We think you need these skills to ace Wealth Banker in Scarborough
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Wealth Banker role. Highlight your experience in financial advisory and relationship management, as these are key to the position. We want to see how your skills align with what we're looking for!
Showcase Your Sales Skills:Since this role involves driving investment sales and managing a portfolio, be sure to include specific examples of your sales achievements. We love seeing numbers and results that demonstrate your ability to meet targets and grow client relationships.
Be Clear and Concise:When writing your application, keep it straightforward and to the point. Use clear language to communicate your qualifications and experiences. We appreciate well-structured applications that make it easy for us to see why you’d be a great fit!
Apply Through Our Website:We encourage you to submit your application through our website. It’s the best way for us to receive your details directly and ensures you’re considered for the role. Plus, it’s super easy to do!
How to prepare for a job interview at Alterna Sa
✨Know Your Financial Products
Make sure you have a solid understanding of the financial products and services offered by the company. Brush up on investment-oriented financial advice, asset consolidation, and the specific needs of clients. This knowledge will help you answer questions confidently and demonstrate your expertise.
✨Showcase Your Relationship-Building Skills
Prepare examples that highlight your ability to build and maintain relationships with clients. Think about times when you've successfully managed a portfolio or enhanced client satisfaction. This is crucial for a Wealth Banker role, so be ready to discuss your approach to proactive relationship management.
✨Practice Active Listening
During the interview, practice active listening techniques. This means not just hearing the questions but also understanding the underlying needs. Respond thoughtfully and ask clarifying questions if needed. This will show your potential employer that you value communication and are committed to understanding client needs.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills and sales abilities. Think through how you would handle various client situations, such as triaging referrals or conducting annual reviews. Practising these scenarios can help you articulate your thought process and decision-making skills effectively.
