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| Location: |
WI-All
Upper Midwest (MI, MN, ND, SD & WI) |
| Salary Range: |
150,000 - 150,000 |
| Total Compensation: |
200,000 - 200,000 |
| Job Description: |
JOB DESCRIPTION: SENIOR VICE PRESIDENT WEALTH SERVICES
Reports to: Chief Executive Officer
FLSA Status: exempt
General Summary:
Senior Vice President Wealth Services (hereinafter may also be referred to as “the Position”) is responsible for the overall coordination and management of the bank’s strategies for providing integrated wealth services. This includes responsibility for coordinating the activities of the Financial Advisors, the wealth services division’s primary business development/relationship management team, to achieve top line growth of non-interest income and other stated corporate objectives. The Position is also responsible for leading and coordinating the activities of the division’s subject matter experts, in trust, portfolio management, and financial planning. This includes primary responsibility for operating a fully functional Trust and Asset Management division, including leading and coordinating the activities of Trust Officers/Administrators, Operations and associated support staff. The Position is also responsible for ensuring that Wealth Services, as a whole, complies with applicable compliance, supervisory and regulatory requirements.
Principal Responsibilities and Duties:
· Assumes a leadership role in communicating and achieving the objectives of the organization for the wealth services division and the bank as a whole.
· Responsible for leading, supervising, coordinating and coaching the Financial Advisors (currently 6 officers and 1 licensed and 4 unlicensed client services associates in 4 regional offices), Trust Officers (4 trust officers, 1 portfolio manager, and 3.5 trust operations /support persons in 2 regional offices), and 2 financial planning specialists in 2 regional offices.
· Develop and implement organization strategies, sales strategies, business development and market strategies, training, compliance and risk management.
· Recruitment and retention of qualified wealth services professionals, as well as training.
· Serve as program manager of broker dealer platform, currently with Uvest/LPL Financial Institution Services.
· Establish and manage services standards designed to deliver predictable and measurable customer service.
· Champion wealth services throughout organization, work with bank counter-parts to establish appropriate goals for referrals, sales and revenue generated. Establish appropriate goals for referrals, sales and/or revenue generated, coach, train and encourage other business units in pursuit of these goals and objectives.
· Responsible for monitoring the progress of the FA team and provide monthly sales management reports highlighting the activities, results, strengths, weakness, opportunities and risks of the group.
· Ensure through coaching, monthly one-on-one (structured) meetings, monthly staff meetings, joint calling schedule, and periodic formal and informal training that the FA’s provide the highest level of advice possible, using a wide spectrum of products and services in a planning oriented, needs-base approach.
· Utilize internal and external resources to provide clients with sound, quality advice and customer service. Represent the organization in relationships with major clients, industry organizations, and other outside parties, particularly those that can aid business development efforts.
· Research, initiate, develop and maintain strategic alliances with product services providers, including contract review, negotiation and execution, ongoing monitoring, development of new products and services.
· Provide supervision for compliance with regulatory requirements as they relate to fiduciary activities, trust investments and operations, as well as investment and insurance services provided by Financial Advisors. (The last requirement is shared with Uvest, which has contractually committed to services as OSJ for investment activities of FA’s.)
· Member of Bank Senior Management team, and division’s official member of the Asset Management Committee, bank board committee charged with oversight of trust fiduciary function, and participate in bank board of directors and regional board meetings as lead representative of the division.
· Serves on Trust Division Investment Committee, responsible for maintaining investment function of trust division including all approved investments, asset allocation models, portfolio management, and individual account investment review.
· Serves as trust officer/administrator on appropriate account relationships, and further serves as senior trust officer for all accounts, providing advice, consultation, training, guidance and risk management for the administration of all trust relationships.
· Participates in external professional, civic and charitable organizations to promote wealth services and the bank as a whole.
· Supervise the creation, upkeep and maintenance of all policy and procedures relevant to the division, and serve as primary contact in all regulatory examinations.
· Lead, coordinate, implement, and review bank and division strategic plans, tactics, compliance, budgeting, employee evaluations, and salary reviews of assigned personnel.
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| Education and Certifications/Licenses: |
Master's, None, None |
| Mandatory Minimum Qualifications: |
Education and Experience:
· College degree, advanced degree (JD, CPA,) preferred
· 10 + years of professional experience (i.e. executive level supervision of a trust, asset management, financial services company).
· Sales and product knowledge and experience. Strong technical skills related to wealth management.
· Strong teamwork and team building skills.
· Excellent communication and organizational skills.
· Ability to attract and retain qualified, successful personnel.
· Positive attitude.
· Previous coaching/training experience and ability to motivate others.
· An understanding of NASD regulations, insurance regulations, bank regulations (particularly relative to trust and fiduciary functions), broker-dealer policies and procedures (particularly relative to operating with a bank environment).
· In-depth knowledge and/or previous experience in:
o Trusts, fiduciary, and tax law
o Fee-based asset management applications
o Brokerage products and services
o Corporate sponsored retirement plans
o Insurance products and services
o Credit application and approval process
o Deposit products and their application
· Other duties and responsibilities as assigned by the bank CEO and Board of Directors.
Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands to handle, or feel objects, tools, or controls; and talk or hear.
Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate. May be exposed to a potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the risk.
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| Preferred Qualifications: |
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| Benefits: |
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| Overnight Travel: |
Up to 25% |
| Relocation Assistance: |
Yes |
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