Responsibilities include business development, relationship management, wealth advisory, marketing, COI cultivation and marketplace “Brand” ambassador.
Articulating the value of Cape Cod 5’s Wealth Management Services in conjunction with other Bank services is a major portion of the duties. The incumbent will function as the Brand ambassador for their respective territory and is expected to have a strong understanding of WMS solutions including fiduciary services, financial planning, investment management, mass affluent and wealth advisory services.
The incumbent will act as an advocate for clients by facilitating all of their financial dealings with the Bank. The incumbent will manage prospective clients, centers of influence and stakeholders as their trusted financial advisor and provide ethical, ongoing, sound financial education and guidance through business development, one-on-one meetings, group seminars and educational content.
ESSENTIAL JOB FUNCTIONS / RESPONSIBILITIES:
Business Development
Grow assets through various prospect channels using introductory discovery meetings and targeted analysis.
Leads the development of new wealth management business for WMS.
As part of the role of Bank Officer, promotes the Bank’s products and services in daily interaction with others.
As opportunities arise, promotes additional products and services to existing or prospective customers.
Actively participates in community and professional organizations.
Ability to organize and execute successful business development strategies.
Coordinate marketing and business development initiatives across the Bank and across territories.
Manage vacation time, expense reports, Bank training and compliance.
Participate and lead monthly team meetings, including training, marketing, best practices, thought leadership, event management and regulatory updates.
Develop annual goals and pro-forma budgeting.
Prepare account opening paperwork accurately and timely.
Collect and prepare required information for prospect meetings.
Solicit, write and respond to request for proposals (RFP).
Act as primary liaison for wealth management services in their territory.
Report, monitor and track prospect related issues.
Participate at staff meetings for Wealth Management Services department.
Insure consistency, continuity and compliance with Bank procedures.
Cultivate relationships and support WMS relationships with branch partners.
Participate and contribute to Bank wide relationship and regional meetings.
Investment Acumen
Assess investment portfolios and determine if asset allocation is consistent with the prospects long-term investment objectives, risk tolerance, time horizon and financial objectives.
Communicate with prospects, CIO’s and the organization as a whole. Respond to prospect inquiries and concerns in a timely manner.
Collaborate on execution of programs designed to achieve investment and planning objectives for new account relationship.
Expands awareness and knowledge in all areas of financial planning and investment strategies and instruments through regular contact with the investment community and other industry professionals, as well as through personal research.
Promote broader mission of Bank as a “trusted financial advisor” and help all prospects find appropriate advisory services based on their financial position.
Maintain and expand wealth management expertise.
Account Administration
Work closely with operations to initiate and coordinate activities relative to opening, on-boarding, processing and administering wealth management accounts.
Locate, direct and coordinate the transfer and placement of funds, securities, and other assets into investment management accounts.
Performs in the role of a trusted financial advisor by coordinating and developing strategies to effectively deal with all aspects of the clients’ financial situation. This includes financial, retirement, tax and estate planning issues and involves working in concert with other advisors. Acts as an advocate for clients in order to facilitate all of their financial dealings with the Bank.
Maintains updated prospect records within appropriate systems and operational procedures.
Strive to continually refine and improve account opening and on-boarding process and procedures.
Compliance
Must maintain current knowledge and understanding of legal, tax and/or legislative changes that affect trust and investment activities.
Performs all duties in accordance with prescribed regulatory compliance guidelines.
Team Collaboration
Works cooperatively with other members of WMS and is willing to extend themselves beyond the general demands of the position. A specific important part of this approach includes an ongoing concern for the business success of the organization as a whole.
Represents the Bank through participating in various community and industry related activities. Actively promotes interest in the Bank wherever and whenever possible.
Participates on various committees on behalf of the business unit. Provides input and advice on business issues.
Provides any support necessary to promote and support the acquisition of new customers for the Bank.
Supports the efforts of the senior manager and other department managers in team building with other internal customer contact areas.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)
EDUCATION, CERTIFICATIONS:
Bachelor’s degree required and ten or more years of industry related experience. Advanced degree a plus.
Appropriate professional certifications include: CFP, CFA, CPA, AIF, CIMA, JD.
KNOWLEDGE, SKILLS & ABILITIES:
Minimum 10 years of experience in consultative business development, relationship management and wealth advisory.
Knowledge of trust department operations, legal compliance, the probate or trust process, various trust instruments and accounting principles, which is acquired through work experience and formal training.
Knowledge of investment and portfolio management theory, accounting and financial principles, associated investment strategies and instruments, and characteristics of various marketplaces, usually acquired through formal education and work experience, are required to manage portfolios.
Along with strong analytical, decision making and communication skills, the position requires personal work habits and attitudes that enhance the overall professional dimension of our organization and contribute directly to successful job performance. Decision-making, sales, and negotiating skills are required to guide sensitive or difficult situations through to agreement.
Decision-making, sales, and negotiating skills are required to guide sensitive or difficult situations through to agreement.
Must have cyber security awareness to protect the digital environment, the Bank, and customers.
Founded in 1855, Cape Cod 5 is a mutually-owned, independent state-chartered savings bank with $4.4 billion in assets, offering a broad range of products, tools and services to empower the financial lives of its customers.We at Cape Cod 5 are committed to serving our customers with the highest level of ethics as their trusted financial partner, while creating a positive work environment driven by good corporate and community citizenship. Take a look at some highlights from the last year in our Annual Report – innovation, expansion and growth to enrich the lives of those we serve.
