Position: Director of Wealth Advisory- Austin | Division: Wealth Mgmt Services
Work Days: Monday - Friday| Hours of Operation: 8:00am - 5:00pm
Why Broadway Bank:
We are one of the largest independently owned banks in Texas with offerings in personal and private banking, wealth management, business banking and mortgage lending.
Purpose of the Position:
Plan, organize, direct, lead, and grow the
Wealth Advisor & Trust Advisor teams within Austin Wealth Management and provide
support for our North Texas footprint. Responsible for the growth and
development of these teams and the division within this footprint with an
emphasis on maximizing profitability and efficiency while minimizing fiduciary risk
to the bank. In addition, this role will act in a Senior Wealth Advisor/Trust
Advisor capacity managing accounts and generating new relationships.
Key Accountabilities:
- Manage all Wealth Advisor
and Trust Advisor teams in Austin and provide support to North Texas to
meet or exceed individual personal business development goals as well as
the goals of the team overall; oversee the overall direction and
coordination of these groups.
- Carry out all supervisory responsibilities in furtherance of the strategic vision for the Line of Business (LOB) and the bank, in accordance with the organization's policies and all applicable laws. Responsibilities include, but are not limited to, interviewing, hiring, training, and mentoring/coaching employees; planning, assigning, and directing work; completing performance appraisals; rewarding and disciplining employees; addressing customer complaints and resolving problems.
- Collaborate with other team leaders, including but not limited to the WM Associate Team Lead, to manage morale, creatively solve interpersonal staffing issues and affect change where appropriate.
- Demonstrate leadership and team-building skills within the LOB and the Bank.
- Serve as a Subject Matter Expert regarding trust administration matters, wealth and investment management accounts & business development, business entities, compliance matters and processes and procedures for the LOB and the bank.
- Possess a broad knowledge of financial services and products with a customer-centric vision.
- Promote the organization and enhance business
development opportunities through participation in professional, community, and
civic activities.
As a Senior Leader of the LOB, the Director of Wealth Advisory shall be responsible to:
- Assist in
developing new and profitable relationships across all product and service
teams.
- Cultivate
Centers of Influence within the market in order to drive new business
opportunities.
- Ensure adherence
to established fee schedules, coach direct reports toward fee discipline
and assist with and approve fee negotiation for relationships when
appropriate.
- Direct and support
activities necessary to meet or exceed the Wealth Management LOB broader
business development goals.
- Along with other LOB
leaders, review/revise, formulate and administer policies and procedures
to ensure consistent delivery of services and adherence to compliance
requirements.
- Collaborate with
the Director of Wealth Management Operations and other LOB leaders to
refine processes and procedures in order to improve the LOB efficiency
ratio over time.
- Craft management responses
to audit findings and compliance exceptions and ensure that all corrective
measures are completed timely.
- Along with other
senior leaders, facilitate communication with OCC during annual exams on
any questions or concerns they may have and participate in corrective
actions that may be appropriate.
- Ensure that direct reports
are taking a comprehensive, holistic wealth management approach to client
servicing, and are seeking opportunities to introduce other LOBs
services/products into wealth management prospects and existing clients.
- Work closely with the
Director of Wealth Services and the Private Banking LOB Leader to drive
new business initiatives within Wealth Management.
- Participate in formulating
and implementing strategic initiatives.
- Collaborate with other senior leaders of the LOB to determine appropriate markets and client qualifications for Wealth Management LOB.
- Serve as a
voting member of Officers Trust Committee, Officers Trust Investment
Committee, and Risk Management Committee.
- Responsible for
quarterly presentations to Directors Trust Committee on matters concerning
the wealth advisory team, new business, prospective new business and,
where appropriate, litigation-related matters.
- Collaborate with
Marketing and Communications Department to draft/create LOB marketing
materials which are accurate, effective, and current. Consult with MarCom
on all LOB events for clients/prospects/COIs.
- Regularly meet
with IT on technology used by the LOB, needed enhancements, and trouble
shooting.
- Source and vet
new technology for the LOB and serve on project teams for onboarding any
new technology.
- Develop, advise, and
implement the necessary budget for Wealth Management LOB to meet strategic
goals.
- Assist in monitoring litigation or potential litigation concerning the LOB; analysis of risk and litigation strategies; make recommendations on direction of litigation or potential ligation.
As a Senior Wealth Advisor, the Director of Wealth Advisory shall be responsible to:
- Establish and/or maintain primary contact relationships with targeted customers to maximize the lifetime value of these key relationships.
- Proactively provide a full range of financial/banking services to customers through referrals to the appropriate specialists throughout the organization.
- Build loyalty and drive profitable revenue growth by applying key customer relationship management principles including:
- Resolving immediate customer concerns and account issues.
- Actively managing a portfolio of targeted/high-value customers and/or segments of customers including performance of all compliance and internal administrative duties.
- Developing and executing targeted client retention and expansion activities (develop and secure new business from existing portfolio base).
- New customer acquisition activities, ensuring a more effective identification and cultivation of potentially high-value relationships.
- Working to ensure that a coordinated and consistent message reaches targeted customers across all delivery/servicing channels.
- Other duties as assigned.
Competencies and Skills:
- Leadership,
effective communication, strategic planning, fiduciary and LOB risk management
and compliance skills
- Demonstrated
strong solution-oriented sales skills and the ability to coach and develop such
skills in direct reports.
Work Experience Requirements:
- 8-10 years wealth management experience
is required.
- 10+ years of Wealth Management
experience is preferred.
- 5
years of managerial/leadership experience preferred.
Education Requirements:
- 4-year college degree with advanced certification such as CTFA, CFP or
other (or experience equivalent to such certification) is required.
- JD preferred
We're a culture that offers resources to benefit your overall health and well-being:
- Employee Impact Groups
- Career Development and Mentorship Programs
- Generous paid time off, minimum 4 weeks
- Employee recognition, awards, and events
- Free vision insurance
- Retirement matching
- Tuition reimbursement
This job description is not designed to be a comprehensive listing of duties, responsibilities, or activities that are required for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Broadway Bank is proud to be an Equal Opportunity and Affirmative Action Employer. Broadway Bank is a drug-free and tobacco-free workplace, with a nicotine-free hiring policy. All qualified applicants will receive consideration for employment without regard to race, color, ethnicity, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, genetic data or other legally protected status.
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