Managing Director, Wealth Management
Apply NowCompany: Northwest Savings Bank
Location: Pittsburgh, PA 15237
Description:
Job Description
The Managing Director, Wealth Management, will lead Northwest Bank's Wealth Management business comprised of Retail Investments, Trust and Fiduciary Services, Estate Planning, Retirement Services, and Portfolio Management. In this highly visible and critical role, the Managing Director will be responsible for establishing a long-term growth strategy, building an effective and collaborative wealth coverage model across our Markets in Pennsylvania, New York, Ohio, and Indiana, accelerating revenue through new relationship acquisition and cross-sell into the Bank's existing customer base, and creating a financial wellness eco system utilizing both physical and digital capabilities. In leading our Wealth Management division, this position will ensure we create and champion a competitive brand in alignment with the organizations culture and customer experience vision. In managing the business, ensure we execute with financial, legal, and compliance soundness while serving the best interest of our clients, stakeholders, and communities. Lead all aspects of the Wealth management business across sales, asset management, service, and operations.
Essential Functions
Provide vision and executive leadership for Wealth Management business with full P&L responsibility
Lead a team responsible for driving net new asset growth across affluent client segments inclusive of financial advisors, wealth relationship managers, trust development officers, and private bankers
Manage trust and investment operations, client servicing, portfolio management, estate planning, and custodial responsibilities
Establish long-term strategic plan and associated annual budget for overall Wealth Management business; identify efficiencies and revenue growth opportunities in support of overall corporate financial goals
Onboard, develop, and manage highly skilled sales and support talent to achieve established objectives
Build effective cross collaboration between business units and support partners
Manage, partner, and negotiate with external service providers to ensure we provide the best customer experience while serving client financial wellness needs
Lead preparation and response to regulatory information requests, examinations, and audits
Possess an understanding of investment management operations and team-based solution delivery across investments and banking
Build and/or realign, and direct an effective sales and service coverage model across the financial center network
Effectively create an ecosystem that supports bank referrals, client right channeling, and cross-sell
Manage product development to ensure prospects and clients have access to a highly competitive offering
Using an existing knowledge of digital solutions in Wealth Management, work with external vendors to optimize client experiences and advice delivery
Craft and drive strategies to aggressively grow assets under management and increase profitability
Create and manage effective incentive and referral programs to drive sales and client growth
Additional Essential Functions
Ensure compliance with Northwest's policies and procedures, and Federal/State regulations
Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency
Work as part of a team
Work with on-site equipment
Additional Responsibilities
Cross-Functional Collaboration:
The role will work closely with teams across the organization, including:
Consumer and Commercial Bank
Legal, Compliance, and Risk Management
Executive Leadership Team
Marketing
Technology
Internal Communications
External partners
Safety and Health for Supervisors with Direct Reports
Provide leadership and positive direction for maintaining the safety and loss prevention program
Actively participate in and support employee participation in the safety and loss prevention program by ensuring that employees know how to properly report a safety issue, making sure that all accidents are promptly reported to Human Resources and documented, and ensuring that prompt action is taken whenever workplace hazards are identified
Help implement emergency procedures
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required Education
Bachelor's Degree and Master's Degree
Required Work Experience
More than 15 years Leading Wealth Management, Retail Investments, and/or Trust/Fiduciary business
More than 15 years Managing Wealth Management or Financial Advisor teams
More than 15 years Managing incentive-based sales teams
Executive Knowledge, Skills, and Abilities
Ability to develop and implement an organizational vision which integrates key strategic goals, priorities, values, and other factors
Ability to balance change and continuity - to continually strive to improve customer service and program performance, to create a work environment that encourages creative thinking, and to maintain focus, intensity and persistence, even under adversity
Ability to design and implement strategies which maximize employee potential and foster high ethical standards in meeting the Northwest's vision, mission, and goals
Ability to make timely and effective decisions and produce results through strategic planning and the implementation and evaluation of programs and policies.
Ability to acquire and administer human, financial, material, and information resources in a manner which instills public trust and accomplishes Northwest's mission, and to use new technology to enhance decision making.
Ability to explain, advocate and express facts and ideas in a convincing manner, and negotiate with individuals and groups internally and externally.
Ability to develop an expansive professional network with other organizations
Knowledge of key national and industry policies and economic, political, and social trends that affect Northwest; Understands near-term and long-range plans and determines how best to be positioned to achieve a competitive business advantage
Additional Knowledge, Skills and Abilities
-Possess excellent project management and cross-functional collaboration skills by working closely with teams across the organization, including Consumer and Commercial Bank, Legal, Compliance, and Risk Management, Executive Leadership Team, Marketing, Technology, Internal Communications, and external partners
-Strong communication and presentation skills, specifically with executive level leadership
Travel Requirements:
Frequently - Across the bank footprint, approximately 20-30% of time
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.
The Managing Director, Wealth Management, will lead Northwest Bank's Wealth Management business comprised of Retail Investments, Trust and Fiduciary Services, Estate Planning, Retirement Services, and Portfolio Management. In this highly visible and critical role, the Managing Director will be responsible for establishing a long-term growth strategy, building an effective and collaborative wealth coverage model across our Markets in Pennsylvania, New York, Ohio, and Indiana, accelerating revenue through new relationship acquisition and cross-sell into the Bank's existing customer base, and creating a financial wellness eco system utilizing both physical and digital capabilities. In leading our Wealth Management division, this position will ensure we create and champion a competitive brand in alignment with the organizations culture and customer experience vision. In managing the business, ensure we execute with financial, legal, and compliance soundness while serving the best interest of our clients, stakeholders, and communities. Lead all aspects of the Wealth management business across sales, asset management, service, and operations.
Essential Functions
Provide vision and executive leadership for Wealth Management business with full P&L responsibility
Lead a team responsible for driving net new asset growth across affluent client segments inclusive of financial advisors, wealth relationship managers, trust development officers, and private bankers
Manage trust and investment operations, client servicing, portfolio management, estate planning, and custodial responsibilities
Establish long-term strategic plan and associated annual budget for overall Wealth Management business; identify efficiencies and revenue growth opportunities in support of overall corporate financial goals
Onboard, develop, and manage highly skilled sales and support talent to achieve established objectives
Build effective cross collaboration between business units and support partners
Manage, partner, and negotiate with external service providers to ensure we provide the best customer experience while serving client financial wellness needs
Lead preparation and response to regulatory information requests, examinations, and audits
Possess an understanding of investment management operations and team-based solution delivery across investments and banking
Build and/or realign, and direct an effective sales and service coverage model across the financial center network
Effectively create an ecosystem that supports bank referrals, client right channeling, and cross-sell
Manage product development to ensure prospects and clients have access to a highly competitive offering
Using an existing knowledge of digital solutions in Wealth Management, work with external vendors to optimize client experiences and advice delivery
Craft and drive strategies to aggressively grow assets under management and increase profitability
Create and manage effective incentive and referral programs to drive sales and client growth
Additional Essential Functions
Ensure compliance with Northwest's policies and procedures, and Federal/State regulations
Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency
Work as part of a team
Work with on-site equipment
Additional Responsibilities
Cross-Functional Collaboration:
The role will work closely with teams across the organization, including:
Consumer and Commercial Bank
Legal, Compliance, and Risk Management
Executive Leadership Team
Marketing
Technology
Internal Communications
External partners
Safety and Health for Supervisors with Direct Reports
Provide leadership and positive direction for maintaining the safety and loss prevention program
Actively participate in and support employee participation in the safety and loss prevention program by ensuring that employees know how to properly report a safety issue, making sure that all accidents are promptly reported to Human Resources and documented, and ensuring that prompt action is taken whenever workplace hazards are identified
Help implement emergency procedures
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required Education
Bachelor's Degree and Master's Degree
Required Work Experience
More than 15 years Leading Wealth Management, Retail Investments, and/or Trust/Fiduciary business
More than 15 years Managing Wealth Management or Financial Advisor teams
More than 15 years Managing incentive-based sales teams
Executive Knowledge, Skills, and Abilities
Ability to develop and implement an organizational vision which integrates key strategic goals, priorities, values, and other factors
Ability to balance change and continuity - to continually strive to improve customer service and program performance, to create a work environment that encourages creative thinking, and to maintain focus, intensity and persistence, even under adversity
Ability to design and implement strategies which maximize employee potential and foster high ethical standards in meeting the Northwest's vision, mission, and goals
Ability to make timely and effective decisions and produce results through strategic planning and the implementation and evaluation of programs and policies.
Ability to acquire and administer human, financial, material, and information resources in a manner which instills public trust and accomplishes Northwest's mission, and to use new technology to enhance decision making.
Ability to explain, advocate and express facts and ideas in a convincing manner, and negotiate with individuals and groups internally and externally.
Ability to develop an expansive professional network with other organizations
Knowledge of key national and industry policies and economic, political, and social trends that affect Northwest; Understands near-term and long-range plans and determines how best to be positioned to achieve a competitive business advantage
Additional Knowledge, Skills and Abilities
-Possess excellent project management and cross-functional collaboration skills by working closely with teams across the organization, including Consumer and Commercial Bank, Legal, Compliance, and Risk Management, Executive Leadership Team, Marketing, Technology, Internal Communications, and external partners
-Strong communication and presentation skills, specifically with executive level leadership
Travel Requirements:
Frequently - Across the bank footprint, approximately 20-30% of time
Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.