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Financial Advisor II - Napanee
Business Unit Description: Retail Markets provides a full range of financial products and services to almost 11 million personal, business and wealth clients, as well as investment management services globally to retail and institutional clients.
CIBC Retail Markets has a broad distribution network serving clients through close to 1,100 branches, as well as CIBC Wood Gundy offices and President's Choice Financial in-store pavilions. Clients also have 24/7 access to telephone banking, online and mobile banking and online brokerage, as well as to Canada's second largest ABM network.
Relevant Job Criteria: - Full Time: 37.5 hrs/week. - Work days: Monday to Saturday. - Will be required to work Saturdays on a rotating basis. - A strong candidate has been identified; however qualified candidates may still apply.
1. Resumes must be submitted online only, through the (RMS) Recruitment Management System.
2. Late submissions will not be accepted.
3. If you are a CIBC employee and wish to refer someone for this position, please register your referral as per the Talent Scout guidelines. Your referral must apply through the website.
4. CIBC thanks all applicants for their interest however only those selected for an interview will be contacted.
Job Overview: JOB PURPOSE
The Financial Advisor II is accountable for managing a portfolio of mass affluent clients WITH SOPHISTICATED NEEDS by recommending a full range of solutions (banking, credit , investment and wealth protection), and acting as the primary contact for all their financial and planning needs. Their objective is to retain and consolidate their high value clients' business through building in-depth understanding of their goals and financial situation and by providing high quality plans, advice and recommendations tailored to each client to help them reach these goals and objectives. The Financial Advisor II is accountable for the overall profitability of their portfolio.
KEY ACCOUNTABILITIES 1. Relationship and Portfolio Management . Proactively establish, develop and maintain strong client relationships through regular contact and through providing timely, value-added information, advice and recommendations . Build and execute Annual Portfolio Plans to schedule proactive contact with all clients and to ensure a minimum of one meaningful, advisory engagement throughout the year . Assess performance against plan through review of Local Level Reporting (LLR) and build monthly plans to enable achievement of required business objectives and to support execution of Annual Portfolio Plan . Leverage Contact Planning and other Horizon-based Portfolio Management tools to build strategies and develop plan of activities to capture all opportunities on portfolio . Detail client interactions in Client Notes to enable effective cross-channel servicing of the client and to create a permanent record of client interactions and discussions . Highlight the CIBC network of partners with clients (CIBC Investment Counsel, CIBC Private Banking, Wood Gundy, CIBC Trust etc) and leverage opportunities to work with these partners to better meet the needs of clients (applicable in locations where partners have offices) . Identify opportunities to use team of CIBC specialists (Investment Specialists, Wealth Specialists, CMLI BDMs, Mortgage Specialists etc) to support the consolidation of business
2. Planning and Advice . Engage clients in the planning process, uncovering and understanding their needs, goals and priorities, assessing their current financial situation, building plans to support achievement of the goals, executing the plans and monitoring their progress . Complete the Financial Advice Review to uncover and document each client's goals and to ensure complete, up-to-date client information . Proactively use all Horizon-based financial planning tools to help build COMPREHENSIVE plans for each client to allow them to meet their short and long term goals and to help support your recommendations regarding product solutions . Leverage the output from the planning tools to help clients understand what they need to do to reach their goals and to encourage them to act on your recommendations . Meet with clients to review their financial situation annually, monitoring progress against plan as well as updating information and adjusting plans as required
3. Recommend and sell financial solutions . Based on current situation, risk profile, time horizon, etc., recommend a full range of solutions (banking, credit , investment and wealth protection) to meet clients' short term needs as well as longer term plan and goals . Present recommended solutions to clients, highlighting benefits and helping clients understand how this recommendation links to their specific needs and the achievement of their goals. . Partner with Investment Specialist to provide advice, recommendations and solutions to clients where needs are very complex or in highly competitive situations . Overcome objections and close the sale, ensuring all sales and consolidation opportunities have been addresses or diarized for future follow up. . Accurately complete all necessary documentation, meeting all regulatory and compliance requirements and ensuring proper disclosure of terms and fees, leveraging Financial Service Associate as appropriate.
4. Proactively identify opportunities to grow the business . Leverage FSA to complete gap analyses prior to client meetings to identify needs/product gaps . Use Horizon-based portfolio management tools to capture and action any future opportunities . Grow the portfolio by consistently asking clients if they are satisfied with the advice and service they are receiving and extending the offer to do the same for friends, family members, colleagues etc. . Use networks, centres of influence, community involvement/events, seminars etc. to proactively prospect and develop business . Effectively leverage CIBC partners (Private Banking, Commercial Banking, CPIC, Wood Gundy etc) and specialists to ensure clients are dealing with the advisor best suited to meet their needs and consolidate more business with CIBC
5. Provide a high level of service to clients to consistently meet their needs and exceed expectations . Ensure clients are aware of and are benefiting from all elements of CIBC Imperial Service including the unique and dedicated alternate channels available to them (FA, FCG, Telephone Banking, Online Banking etc) and the role your FSA can play in helping meet client needs . Be responsive and accessible to clients by returning calls promptly, following up on commitments and helping resolve problems in a timely manner and to the satisfaction of the client
6. Continuously update knowledge and skills . Demonstrate your commitment to keep up-to-date with current events, overall economic and financial environment, trends, product developments, legislative changes etc. . Proactively communicate developments or changes to clients as applicable to their financial situation.(i.e. budget /legislative changes) . Complete a personal development plan annually to continue to develop skills to support success as an FA . Support the development of colleagues through mentoring and peer coaching
CROSS-FUNCTIONAL RELATIONSHIPS . Branch employees, cluster and district teams . Upscale, affluent, client groups to attract and retain business . CIBC business partners (e.g., Investment Specialists, Mortgage Specialists, Wood Gundy,CPIC ) . Occasional contact with Cash Management, Merchant VISA . Occasional contact with lawyers, accountants, realtors and business community groups.
AUTHORITIES . Adhere to regulatory, compliance and bank requirements governing the delivery of advice and planning and the recommendation of financial solutions . Assume responsibility for the profitability of their portfolio, including making decisions regarding discretionary pricing based on the value of the connection and risk of business loss . Be accountable for the overall management of the portfolio, building annual and monthly contact plans, prioritizing activities and contacts, and leveraging Financial Services Associate to support achievement of business objectives JOB DIMENSIONS . Identifying customer goals, building tailored plans and making recommendations to help clients reach their short and long term goals . Influencing and building relationships with portfolio of clients and referral sources . Keeping abreast of all relevant market developments/ products/services in order to meet client needs and make appropriate referrals . Resolving customer complaints, using the opportunity to build relationships . Advising customers of unfavourable loans decisions and providing alternative opportunities
Requirements: Accreditations: CIFC or CSC required as of start date
MFDA License required
KNOWLEDGE AND SKILLS . Successful completion of the Canadian Investment Funds Course, the Investment Funds in Canada Course or the Canadian Securities Course to support MFDA licensing . Professional Financial Planning or Wealth Management Essentials Course would be an asset . WELL-DEVELOPED sales and relationship skills PROVEN to build strong relationships with customers, to identify appropriate partnership and consolidation opportunities and to proactively promote/sell Imperial Service. . WELL-DEVELOPED investment, retirement and credit planning skills, sufficient to meet the needs of the affluent clients and to compete for the business within the current market . WELL-DEVELOPED knowledge of range of investment/deposit products/services and industry and bank compliance standards. . Developed knowledge of a full range of credit products/services, consumer lending practices, credit analysis and compliance standards. . Working knowledge of estate planning, power of attorney, wills, family trusts, insurance and tax sufficient to discuss these topics with clients and engage or refer to the appropriate specialists. . Computer literacy and knowledge of PC software and mainframe applications (e.g., Windows, Portfolio Management, Contact Management) to access and record customer information, to complete sales and servicing activities and to develop detailed financial plans . Working knowledge of CIBC's operational and credit risk policies and procedures sufficient to monitor and manage risk of the assigned portfolio. . WELL-DEVELOPED interactive/presentation skills sufficient to convey both factual and conceptual information requiring detailed explanation and interpretation to staff and highly knowledgeable customers, professionals and business groups within the community. . WELL-DEVELOPED communication skills (written and verbal) sufficient to prepare and present sales presentations and proposals. . Well developed time management skills and the ability to manage multiple competing priorities.
. Focused attention to detail when entering and reviewing financial information . Dexterity and co-ordination required to accurately enter and access computer database information. . Branch environment. Visits to customers off-site as required. . Flexible working hours to accommodate customer needs.
At CIBC, we're committed to providing employees with fair and competitive compensation that reflects individual contribution, business performance and related markets. Our total compensation programs are comprised of direct and indirect components. Together they reward employee capability and performance and promote employee well-being.
Employee Share Purchase Plan
Employee Banking Offer
At CIBC, there are formal and informal methods available to acknowledge employee and team contributions throughout the year. Formal recognition programs recognize outstanding performance by individuals and teams at CIBC. CIBC's formal programs include the CIBC Achievers Program, eAchievers and the Chairman's Council and President's Council Awards in Wood Gundy. We developed these programs to reward those who demonstrate our core values of Trust, Teamwork and Accountability.