Purpose of Job
The position performs a key role within the Business and Family Advisory Services (BFAS) Team and is responsible for the effective & timely delivery of guidance to business owner clients who are exploring the sales of their businesses. This includes guidance in the areas of business valuations, M&A, and general business practices that will help business owner clients maximize the value of their businesses. The position will also support Business and Family Wealth Specialists on client engagements and provide general information and guidance to advisors and internal specialists such as Insurance Consultants, Estate and Trust Consultants & Financial Planning Consultants. This role is also responsible for developing relationships with outside professionals and COIs and to develop and continually enhance the framework for providing transaction support to business owner clients.
1. Delivering business advisory services to clients either independently or in support of business succession specialists by:
- Identification and preliminary review of various succession options for business owners – e.g., leveraged recap, inter-generational transfer, MBO, partial or full sale;
- Leading or participating in meetings with business owners helping to identify and address corporate valuation issues and challenges, including factors that maximize proceeds or otherwise optimize the results, which could include advice regarding pre-sale preparations, balance sheet clean-up and how to deal with redundant assets as well as organizational changes including the current management team;
- Providing guidance in evaluating any unsolicited bids for the business that a business owner may be considering;
- Providing clients with feedback and guidance around the impact on business value of potential mergers/acquisitions/re-organizations, which would include transactions being contemplated for tax and estate planning purposes;
- Delivering guidance on management buyouts – options regarding structure/finance and ideas for mentoring and empowering a strong management team;
- Developing and maintaining strong internal and external relationships to identify opportunities to work with current and prospective business owner clients especially those interested in sale/succession planning; and
- Working with client’s team of advisors, when reasonably required, which may include legal and accounting professionals to understand corporate structures, clarify goals and objectives and collaborate on the development and execution of strategies.
2. Provide national sales support for advisors, Insurance Consultants, Senior Financial Planning Consultants, Estate and Trust Consultants and others by:
- Responding to questions involving the acquisition or divestiture of business assets, business valuations or other support from the field with information and actionable solutions & strategies for business owners that provide added-value to the client relationship;
- Developing informal business valuations for the purposes of determining insurance needs as well as for tax planning and estate planning purposes;
- As the Subject Matter Expert (SME), overseeing the dissemination of memos, updates, newsletters, articles of interest, etc. either writing them directly or re-packaging (with permission) existing material written by other experts in order to keep staff and clients apprised of the latest developments;
- Developing and leading any business advisory and valuation training initiatives and/or educational content for internal staff; and
- Maintaining current knowledge by conducting research, including undertaking a regular analysis of current M&A activity.
3. Establish and Foster strategic relationships by:
- Developing a network of external professionals in the areas of business valuation, business consulting, business brokers, M&A (including Roynat) and accountants and lawyers that would be involved in implementing recommendations;
- Taking the lead in identifying and formalizing arrangements with external organizations as preferred partners; and
- Building strong relationships across both Scotiabank to ensure a coordinated approach, making referrals, where appropriate, and maximizing our use of internal expertise.
4. Promote business succession planning team by:
- Being proactive in internal and external communication around business succession and advisory as a value added service offering available throughout Scotiabank;
- Helping to identify target business owners that would benefit from broader succession planning engagements;
- Assisting in the development of processes, policies and other tools to build and enhance the business advisory and succession planning offering; and
- Leading the development of and/or participating in client events designed for business owners (includes both current clients and prospects).
5. Contribute to the effective functioning of the Business and Family Advisory Services team and broader Financial Planning and Advisory Services team by:
- Participating actively in team learning development activities and team performance achievements;
- Building effective working relationships across the team and with various business line and corporate function contacts;
- Maintaining a high level of client service;
- Facilitating a culture of open and honest communication;
- Actively participating and contributing to touch bases and team meetings;
- Encouraging the generation of new ideas and approaches;
- Actively sharing knowledge and experience to enhance the development of all team members; and
- Developing and executing a meaningful employee development plan.
The ideal candidate has a comprehensive understanding of Mergers & Acquisitions, with at least 10 years of experience in either advising private/family owned businesses on corporate finance issues or executing those transactions. As a result of that experience, they should also have in-depth knowledge of business valuation practices and a solid understanding of business practices that allow owners to maximize their business valuations.
It is preferable that the Business Succession Transaction Specialist also has:
• Chartered Business Valuator (CBV) designation; Professional accounting designation
• Solid understanding of Wealth Management solutions;
• Solid knowledge of marketplace and competitive practices; and
• Media training.
• Excellent oral and written communication skills
• Expert presentation skills;
• Time management skills – Ability to effectively manage multiple client engagements at a time;
• Strong relationship building skills;
• Strong influence skills.
• National travel will be required present to internal staff and attend client meetings.
• The work environment is a standard office environment with some terminal usage (1-3 hours a day).
• The position requires normal use of sight and hearing.