Senior Director, Financial Planning and Advice, Ontario West
CIBC in Mississauga, ON
We're on a mission to build the relationship-focused bank of the future and we're looking for the passionate collaborators, innovators, advisors, and leaders who can get us there. Our distinct culture is built on a shared commitment to do what's right for our clients, our people, and our communities, and we strive for excellence in everything we do. Because life at CIBC is not only what you do, but how you do it.
Financial Planning & Advice brings together specialized planning services in Wealth Strategies, Tax and Estate Planning and Business Succession Planning, all through an expert advisory team made up of Wealth Strategists Financial Planning Consultants and Financial Planning Specialist that support the complex needs of the high net worth and ultra-high net worth client. These groups create a center of excellence to enhance delivery of our integrated wealth management offer. Financial Planning and Advice is part of the Commercial Banking and Wealth Management Team.
Commercial Banking and Wealth Management works in close collaboration with CIBC's Personal and Business Banking, Capital Markets strategic business units to lead and manage the organic growth, client relationship and profitability of CIBC's businesses. Commercial Banking in Canada includes the development and implementation of a strategic plan that effectively integrates the diverse activities of Commercial Banking including delivery network, specialized industries, business solutions, segment strategy, deposits and lending practices as well as across all functional responsibilities.
Wealth Management business in Canada includes Asset Management, Wood Gundy and Private Wealth Management, which is focused on providing excellence in relationship-based advice, service and product solutions that meet the needs of CIBC's high-net-worth private wealth individuals and institutional clients.
What You'll Be Doing
Responsible for providing highly effective leadership in relationship, planning and performance management to the regional team of Wealth Strategists, Financial Planning Consultants and Financial Planning Specialists all with the vision of being the leader in advice for high net worth and ultra-high net worth Canadians. A strong focus is centered around the accumulation and preservation of high-value clients wealth in partnership with CIBC's enterprise internal advisory teams. Adherence to regulatory requirements, compliance guidelines and internal strategies and policies is priority for client satisfaction and risk mitigation.
How You'll Succeed
Work with Retail Distribution, Private Banking, Wood Gundy and Commercial Banking leadership teams to collaborate on strategies to effectively grow our client relationships and our business. Build internal relationships and follow a structured operating model to ensure clarity in planning offers for all enterprise partners. Align financial planning and advice support to the appropriate needs of our clients.
- Analyze opportunities to increase team productivity and supportive planning through a deep understanding of the needs of enterprise partners and clients
- Communicate performance trends related to the support of the advisory team and adjust for opportunities with a distinct action plan
- Orchestrate and promote the educational sessions centering around and promoting financial literacy and planning strategies to enhance the knowledge of internal partners and clients
Provide effective leadership and management to the regional Financial Planning advisory team:
- Effective coaching tailored to each specialized advisory role, focusing on capability build, performance efficiencies and relationship building strategies
- Monitor advice recommendations/solutions of FPC/FPS/WS to ensure demonstration and articulation of CIBC's Integrated Offer
- Understand and manage the individual professional and educational development to maintain and increase investment industry, planning and product knowledge of the sales team
- Evaluate performance, recognize and reward individual and team success
- Maintain and build a network of talent pipeline
Manage to the adherence of internal and external regulatory and compliance requirements and policies:
- Thorough knowledge of industry related regulatory and accreditation policies and pending legislation
- Works closely with the FP&A Operational Efficiencies team in the development and adherence of sales and advice guidelines, procedures and policies
- Accountable for due diligence, management and regular monitoring of compensation sales and trends as it related to the regional teams
- Monitor, track and verify financial plan quality and delivery of the integrated offer
- Due diligence in expense management for the team and manage expenditure
Provide leadership and effective management of business unit to influence employee commitment to the organization, to the team, and to their job by;
- Setting appropriate context when assigning work to ensure that individuals' roles support the achievement of the business unit's priorities and CIBC's overall goals;
- Building team and individual capabilities by providing development opportunities such as job shadowing, special projects, and training;
- Managing performance by providing fair and accurate formal and informal feedback, identifying and removing obstacles to performance and by explaining how performance expectations align with business priorities;
- Creating a positive work environment and being an effective role model by championing CIBC's mission, vision and values;
- Ensuring compliance with policies, standards, guidelines and controls by applying the policies and controls fairly and consistently so employees understand what to expect, and;
- Hiring the right people in the right jobs to align individual capabilities with job requirements and business unit goals
- Effective management of DOE and FTE annually
Who You Are
- Track record of experience and expertise in financial services, specific to wealth management advisory practices and planning strategies to support the ultra high net worth client
- Interpret complex planning concepts and apply these strategic initiatives to the role and management of a dynamic advisory team
- Successful completion of the CFP or the PFP financial planning designation, the CSC, WME and CPH and IIROC Branch Managers examination
- Proven practical knowledge of strategic and tactical management of large and complex sales team
- Developed problem solving skills to assess performance trends and analyze efficiency of advisory practices
- Knowledge of existing and impending industry legislation regarding financial planning regulatory and accreditation standards
- As a member of the senior management team, expected to significantly contribute to the long term strategic vision of CIBC Financial Planning and Advice team
- Strong knowledge of bank operations required to participate in the design and implementation of management processes and tools.
- Ability to apply thought leadership and complex concepts to effectively contribute to the continuous refinement of strategic objectives
- Proven ability to effectively manage multiple activities with varying complexity while under tight time frames.
- Developed judgment and problem solving skills sufficient to analyze information and formulate responses to problems and issues
- Strategic thinker to ensure programs and process changes address current requirements and provide base for future changes
- Well-developed communication and interactive skills to convey factual and conceptual information on issues requiring detailed explanation/interpretation and communicate effectively at all levels in the organization.
- Ability to establish productive relationships between various leaders, departments and partners across Retail Distribution, Commercial Banking and Wealth Management, as well as other groups across the organization.
- Ability to influence stakeholders from varied backgrounds, with differing priorities and over which one does not have direct authority.
- Balance a corporate and CIBC-wide perspective with specific partner and stakeholder needs and resource constraints.
- Maintains a long-term focus while ensuring that tactical priorities are addressed.
- Can make decisions and act with incomplete information and under tight deadlines; maintains composure throughout.
- Ensure effective management of Operating Expenses (DOE) and project funding.
- Ensure compliance to the required governance, controls and audit requirements for Financial Planning and Advice
What CIBC Offers
At CIBC, our people are our greatest asset. You'll become part of a diverse community that acknowledges everyone's unique talents, and empowers teams to do what's right for the client, and to do it well. As part of our team, you will:
- Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and at home
- Connect: Work in a place where the right technology and infrastructure fosters innovation, collaboration and creativity
- Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training
- Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits program, and employee share purchase plan
What You Need to Know
- CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation during the application or interview process, please contact Mailbox.firstname.lastname@example.org
- You need to be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work or study permit
- This is a regular full time role with a schedule of 37.5 hours each week. You may have to work flexible hours to meet client and team requirements.
- Some regional travel may be required to meet with clients, partners and team members