Vice President, Wealth Management
Apply NowCompany: Redwood Credit Union
Location: Napa, CA 94558
Description:
At Redwood Credit Union we are on a journey to re-imagine the way we do business, and we can't do it without you - our next great hire.
Since 1950, Redwood Credit Union has been helping people reach their financial goals and dreams with a focus on helping others. As a not-for-profit financial institution, our passion is for helping our Members meet their financial needs, whether it's through better rates, low or no fees, or expanded services.
That people-first approach holds true for our employees, too. Our work environment is built on service and trust. It's all possible with a leadership team committed to hiring talented people and helping them develop their careers.
Redwood Credit Union is looking for a Vice President of Wealth Management who will be responsible for planning, organizing and managing Redwood Credit Union's Wealth Management Program. Emphasis is placed on providing excellent Member satisfaction and significantly growing the operations through the offering of deposits, alternative, full-service investment, and retirement products and services.
ESSENTIAL FUNCTIONS:
Leadership
Review and identify cost-effective utilization of all resources. In particular, lead and direct the management of staff and directly supervised employees to ensure the availability of skills and abilities needed to meet RCU's vision, mission, values, and service doctrine.
Analyze and communicate information about performance, the competition, the marketplace, and company resources in a manner that balances immediate needs with those of the future.
Communicate with senior management regarding all aspects of Wealth Management which includes Department operations, procedures, and policies.
Develop and present strategic and tactical opportunities to senior management.
Manage the overall development of Wealth Management Department through a comprehensive business plan including new Member outreach and existing Member referral programs.
Manage the overall development of investments through an internal business-development program and motivate staff to sell and market RCU.
Participate in and represent Redwood Credit Union at internal and external events and community functions.
On behalf of RCU, "own" the relationships and interface with key assigned partners, e.g., CUSO Financial Services (CFS).
Represent the Credit Union in relationships with industry organizations, regulatory bodies, and other key outside parties.
Program Management
Manage and direct Investment and Wealth Management to generate non-interest income for RCU.
Establish and/or implement measurement criteria for tracking results, assign priorities and resources, and follow through to ensure timely and accurate completion of assignments.
Provide regular feedback and progress reports regarding Wealth Management Department sales practices and business development initiatives.
Establish and monitor reporting systems designed to keep the Senior Leadership Team informed of all Wealth Management activities and issues.
Monitor and review all Wealth Management Department budgets.
Continually assess the competitiveness of all programs and practices against the relevant comparable companies, industries, and markets.
Oversee the management of projects related to deposit products, new development, existing changes, and related compliance and or regulatory changes.
Manage the overall relationships with external partners, Branch Operations, Compliance, Legal, Risk, Marketing, and IT departments to deliver new products and promotions.
Ensure compliance with pertinent government rules and regulations.
Evaluate efforts to develop business to assure efficiency and that resources are used to pursue opportunities within guidelines and policies.
Set production goals and oversee daily activities of Wealth Management department staff.
Design and implement training and continuing education programs for staff in conjunction with the Educational Development Department.
Possess knowledge of department related regulations and communicate relevant updates to the RCU organization.
Recruit, select, train, motivate, discipline, evaluate and develop reporting staff.
Lead investment initiatives, e.g., call nights, branch training, business outreach, etc.
Travel to branches regularly to market and promote Wealth Management Department to Members and team members.
Planning
Implement the strategic vision of Wealth Management and the Deposit Services Department.
Implement plans and policies to attain goals and objectives, measure progress and implement adjustments as appropriate.
Oversee the evaluation, research, and analysis to provide recommendations related to new and existing product offerings and partnerships.
Compile full business reporting method including budgets and business plans, with quarterly variance reviews.
Implement Wealth Management strategic marketing plans in coordination with the Marketing & Communications Department.
Implement strategies to support growth of Wealth Management, and the IRA/HSA Department as well as all other goals of Redwood Credit Union.
Other Functions
Organize community seminars on investing, retirement planning, and other financial products offered.
Provide technical information for The Redwood Group's retirement plans.
Volunteer time and capital in community non-profit groups.
Participate in community events, community volunteer boards & associations.
Perform other duties as assigned.
Minimum Qualification: Knowledge, Skills and Abilities
Physical Requirements
Certifications and Licenses
The ideal candidate has a combination of education and experience equivalent to a bachelor's degree in business administration, finance, or closely related field with a minimum of 10 years of experience in financial services including investments and insurance and a minimum of 3 years of progressive leadership experience.
Compensation: Base starting range: $183,476 to $241,754 annually + Commission
Our base salary starting range is based on scope and responsibilities of the position, candidate's work experience, education/training, key skills, and internal peer equity. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.
Redwood Credit Union offers a robust benefits package to our eligible employees including:
Competitive medical, dental, and vision insurance, mental health offerings
Employee performance incentive plan
Salary Advancement- Merit increase based on performance
401(k) program with employer match
Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!
RCU Discounts and Perks-
RCU employees are eligible for a .75% discount off RCU standard collateral auto loans
RCU employees are eligible for a 1% discount on all recreational or boat loan products
2% discount off Visas and LOC Loans through RCU
0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.
0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.
0% interest on garment, fitness, or home office equipment loan of up to $500
100% financing for employee purchased homes!
Why work for Redwood Credit Union?
Local financial institution, providing unparalleled service since 1950
Recognized by Newsweek as one of "America's Best Credit Unions 2024"
Top 5 Healthiest Credit Union in the USA, rated by Glatt Consulting
Voted Best Places to Work in the North Bay 19 years in a row
World-class employee engagement scores
Rated Superior in Service by more than 90% of Members, surveyed by SF Gate
Recognized by Forbes as one of "America's Best Small Employers 2023"
Internal Team Members
If you are a current Team Member, please apply through the internal careers page located in RCUNET.
We are an Equal Opportunity Employer
Since 1950, Redwood Credit Union has been helping people reach their financial goals and dreams with a focus on helping others. As a not-for-profit financial institution, our passion is for helping our Members meet their financial needs, whether it's through better rates, low or no fees, or expanded services.
That people-first approach holds true for our employees, too. Our work environment is built on service and trust. It's all possible with a leadership team committed to hiring talented people and helping them develop their careers.
Redwood Credit Union is looking for a Vice President of Wealth Management who will be responsible for planning, organizing and managing Redwood Credit Union's Wealth Management Program. Emphasis is placed on providing excellent Member satisfaction and significantly growing the operations through the offering of deposits, alternative, full-service investment, and retirement products and services.
ESSENTIAL FUNCTIONS:
Leadership
Review and identify cost-effective utilization of all resources. In particular, lead and direct the management of staff and directly supervised employees to ensure the availability of skills and abilities needed to meet RCU's vision, mission, values, and service doctrine.
Analyze and communicate information about performance, the competition, the marketplace, and company resources in a manner that balances immediate needs with those of the future.
Communicate with senior management regarding all aspects of Wealth Management which includes Department operations, procedures, and policies.
Develop and present strategic and tactical opportunities to senior management.
Manage the overall development of Wealth Management Department through a comprehensive business plan including new Member outreach and existing Member referral programs.
Manage the overall development of investments through an internal business-development program and motivate staff to sell and market RCU.
Participate in and represent Redwood Credit Union at internal and external events and community functions.
On behalf of RCU, "own" the relationships and interface with key assigned partners, e.g., CUSO Financial Services (CFS).
Represent the Credit Union in relationships with industry organizations, regulatory bodies, and other key outside parties.
Program Management
Manage and direct Investment and Wealth Management to generate non-interest income for RCU.
Establish and/or implement measurement criteria for tracking results, assign priorities and resources, and follow through to ensure timely and accurate completion of assignments.
Provide regular feedback and progress reports regarding Wealth Management Department sales practices and business development initiatives.
Establish and monitor reporting systems designed to keep the Senior Leadership Team informed of all Wealth Management activities and issues.
Monitor and review all Wealth Management Department budgets.
Continually assess the competitiveness of all programs and practices against the relevant comparable companies, industries, and markets.
Oversee the management of projects related to deposit products, new development, existing changes, and related compliance and or regulatory changes.
Manage the overall relationships with external partners, Branch Operations, Compliance, Legal, Risk, Marketing, and IT departments to deliver new products and promotions.
Ensure compliance with pertinent government rules and regulations.
Evaluate efforts to develop business to assure efficiency and that resources are used to pursue opportunities within guidelines and policies.
Set production goals and oversee daily activities of Wealth Management department staff.
Design and implement training and continuing education programs for staff in conjunction with the Educational Development Department.
Possess knowledge of department related regulations and communicate relevant updates to the RCU organization.
Recruit, select, train, motivate, discipline, evaluate and develop reporting staff.
Lead investment initiatives, e.g., call nights, branch training, business outreach, etc.
Travel to branches regularly to market and promote Wealth Management Department to Members and team members.
Planning
Implement the strategic vision of Wealth Management and the Deposit Services Department.
Implement plans and policies to attain goals and objectives, measure progress and implement adjustments as appropriate.
Oversee the evaluation, research, and analysis to provide recommendations related to new and existing product offerings and partnerships.
Compile full business reporting method including budgets and business plans, with quarterly variance reviews.
Implement Wealth Management strategic marketing plans in coordination with the Marketing & Communications Department.
Implement strategies to support growth of Wealth Management, and the IRA/HSA Department as well as all other goals of Redwood Credit Union.
Other Functions
Organize community seminars on investing, retirement planning, and other financial products offered.
Provide technical information for The Redwood Group's retirement plans.
Volunteer time and capital in community non-profit groups.
Participate in community events, community volunteer boards & associations.
Perform other duties as assigned.
Minimum Qualification: Knowledge, Skills and Abilities
- Thorough knowledge of all aspects of Wealth Management offered by financial institutions.
- Thorough knowledge of modern management techniques and practices.
- Thorough knowledge of bank deposit products.
- Current knowledge of Federal and State investment laws, rules and regulations.
- Knowledge of national and local economic and competitive trends and conditions.
- Strong negotiation and sales leadership skills.
- Skill in the operation of a personal computer and word processing, spreadsheet and presentation software and Intra/Internet access.
- Ability to lead and achieve results from others through motivation.
- Ability to analyze problems and opportunities, identify and evaluate alternatives, and develop sound, effective approaches.
- Ability to plan, implement, and evaluate the achievement of goals, objectives, and work plans.
- Ability to lead, motivate, and supervise employees.
- Ability to establish and maintain effective working relationship with a diverse group of people including, regulators, Members, employees, attorneys, vendors, and other parties.
- Ability to communicate effectively both verbally and in writing.
- Ability to travel 20% of time.
Physical Requirements
- Ability to stand, bend, stoop, sit, walk, twist, turn and drive.
- Ability to lift up to 15 pounds occasionally.
- Ability to use a computer keyboard and calculator.
- Work environment is indoors; majority of the time is spent sitting at a desk.
Certifications and Licenses
- NASD Series 7, 24 (or 9/10), 66 (or 63/65) licenses required.
- California Life Insurance.
The ideal candidate has a combination of education and experience equivalent to a bachelor's degree in business administration, finance, or closely related field with a minimum of 10 years of experience in financial services including investments and insurance and a minimum of 3 years of progressive leadership experience.
Compensation: Base starting range: $183,476 to $241,754 annually + Commission
Our base salary starting range is based on scope and responsibilities of the position, candidate's work experience, education/training, key skills, and internal peer equity. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.
Redwood Credit Union offers a robust benefits package to our eligible employees including:
Competitive medical, dental, and vision insurance, mental health offerings
Employee performance incentive plan
Salary Advancement- Merit increase based on performance
401(k) program with employer match
Time Off- Competitive PTO accrual plus 11 paid company holidays and your birthday off!
RCU Discounts and Perks-
RCU employees are eligible for a .75% discount off RCU standard collateral auto loans
RCU employees are eligible for a 1% discount on all recreational or boat loan products
2% discount off Visas and LOC Loans through RCU
0% interest loan to support employees with various immigration related expenses such as visa application fees and relocation costs. Loan amount up to $1,000.
0% interest loan to support employees with expenses associated with the naturalization process. Loan amount up to $15,000.
0% interest on garment, fitness, or home office equipment loan of up to $500
100% financing for employee purchased homes!
Why work for Redwood Credit Union?
Local financial institution, providing unparalleled service since 1950
Recognized by Newsweek as one of "America's Best Credit Unions 2024"
Top 5 Healthiest Credit Union in the USA, rated by Glatt Consulting
Voted Best Places to Work in the North Bay 19 years in a row
World-class employee engagement scores
Rated Superior in Service by more than 90% of Members, surveyed by SF Gate
Recognized by Forbes as one of "America's Best Small Employers 2023"
Internal Team Members
If you are a current Team Member, please apply through the internal careers page located in RCUNET.
We are an Equal Opportunity Employer