Running Head: TORONTO DOMINION BANK24
Added on 2021-04-17
24 Pages4394 Words126 Views
Finance
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Running Head: TORONTO DOMINION BANK 1TORONTO DOMINION BANKAUTHORS NAMEUNIVERSITY OF AFFILIATION
TORONTO DOMINION BANK 2IntroductionThe process of recruitment and selection is among the significant elements of running established and startups business. Employees with the right skills can help the organization attain its long-term and short-term goals. Employees without the right skills can do harm to the business through creating a work environment that is toxic and missing sales. Experts advise on the selection and employee recruitment are essential for any business to meet its objectives and goals. The recruitment process is the ability of an organization to source out for new employees, to keep the firm in operation and improving the human capital quality employed in the organization ("Recruitment and Selection - HRM Guide", 2016).The main aim of conducting a recruitment and a selection process is so as to hire employees with the best talents from the market so as to keep the organization competitive. The recruitment process is about managing the high volumes of resume jobs and the competencies to select the right candidate for the organization.Competitive human resource management usually starts with a recruitment process that is competitive in nature.The firms together with its employees create a competitive advantage. The main goal of the recruitment process is finding the best sources on the job market. The human resource recruiters have to fully utilize the managers and the recruitment sources so as to make the right decision that is fast and effective.PurposeThe purpose of this paper to find the right candidate for an organization that requires a skilled financial advisor to fill their position. In order to find the right candidate, the recruitment process has to follow a certain sequenceof steps. First, the candidate has to be sourced using various methods so as to find the candidate with the perfectskills for the job. Secondly, the recruitment team has to critically analyze the applications and review the resumes. Lastly, an interview has to conduct to see if the candidate has met the required skills and qualify for the job (Mayhew, 2011).
TORONTO DOMINION BANK 3Company background informationThe Toronto Dominion bank operates as a North America bank. The bank is a financial service that operates online having more than 5 million mobile and online customers. The banks have segments in which it conducts its business. The segments comprise of the wholesale banking, retail banking, and corporate banking. The wholesale banking offers a variety of capital markets corporate banking services, including the underwriting and distribution of the new debt and equity providing advice on the strategic acquisitions and the divestitures and meeting the client's needs (Editorial, 2011).The wholesale banking a variety of capital markets, corporate banking products and services, government and institutional clients in the various global financial center. This segment of the bank provides market access to itsretail operation and wealth and offers the banking solution to its customers and its partners. The capital markets and the investment banking product line comprises of trading, underwriting advisory, and services execution. The corporate banking product group comprises trade finance, cash management services, and the corporate lending.Financial advisorA financial advisor is an employee who offers customers financial advice. They do take in account various information comprising of the economic trends, clients comfortable with the risky decision and the regulatory changes in determining the customer investment portfolio. They have the task of ensuring the client feel comfortable.Financial advisor to help the customer through assessing their financial needs and helping them with investments and decision on insurance. They help the customer plan for their short-term and long-term goals such as retirement and education expenses. After assessing the client needs the financial advisor with recommending an investment that will match the objectives of the customer. They perform a task of investing the client money based on the decisions of the client.
TORONTO DOMINION BANK 4Despite the fact that financial advisor does offer advice on various topics, some of them specialize in certain areas such as risk management or retirement. They evaluate the willingness of the investor to take chances and modify their investment accordingly. They will invest the consumer investment after which they will be obtaining the customer regular report s on the status of the investment as well as the customer. The task of the financial advisor includes monitoring the customer's investments and modifying the financial plan depending onthe customer circumstance changing or a change in the investment option ("Financial Advisor", 2016).Financial advisor position at the Toronto Dominion Bank is to offer the customer a clear guideline on their investment without having any malicious motive. They are guided by strict code of conduct that does not provide any room for errors .The bank has employees who have licensed to purchase and sell bonds directly. Based on the employment agreement with the clients, the financial advisor might have the permission from the customer on making selling and buying decision of the bonds (Doyle, 2011).Environmental contextHaving a good track record of being an effective businessman is important to being financial advisor .It is of great importance to find a financial advisor who is very independent and well respected in the industry (Wong, 2009).The financial advisor should have an understanding of the various dimensions of running a successful business. Factors considered when recruiting financial advisor and how it will influence selection strategy.CredentialsFinancial advisor post requires various educational requirements.one has to pass various courses on different topics including insurance investment, estate planning, financial planning and a comprehensive exam. A certified financial planner who provided various financial planning services pledges to work with the client interest above his own interest at all times (Greenwald, 2013).
TORONTO DOMINION BANK 5Services offeredMajority of the financial advisor do only offer investment advice. There is very few financial advisor who offerscomprehensive financial services. This comprises of all the management assets that are directly managed by the planner or indirectly management by the planer. The comprehensive financial services would comprise of the insurance, life estate, and cash flow planning (Greenwald, 2013).PaymentThere is no better way to pay for the financial advice. Planners can be paid based on various factors. The significant thing is to understand the way the prospective planner charges and the budget the employee has(Wong, 2009) .This will help in getting a clear picture of whether the employee will get the best servicesDisciplinary historyThe recruiter should liaise with the financial industry regulatory authority and other board to check the applicantdisciplinary history (Greenwald, 2013).Recruitment and selection planningThe recruitment planning cannot be achieved without a strategic planning. Before any recruitment process, the organization must implement a staffing plan that is proper and do a forecasting to determine the number of people the organization requires. Job vacancy and job description
TORONTO DOMINION BANK 6 Establishing selection criteria.Internal versus external search Evaluation and testing Evaluation and testing
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