Location: Scarborough Branch, 410 Progress Ave, Scarborough, ON M1P5J1, CAN
Description
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
Education / Certification / Experience
* 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.
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