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Private Wealth Management, Managing Director
Union Bank
Irvine, CA, United States
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Description
Discover your opportunity with Union Bank® and become a part of one of the world’s leading financial groups. Union Bank is a member of Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world with total assets of over $2.4 trillion (as ranked by SNL Financial, April 2016) and 140,000 colleagues in nearly 50 countries. In the U.S., we’re 13,000 strong, working together to positively impact every customer, organization, and community we serve. At Union Bank, we aim to be the premier and most-trusted West Coast bank, serving customers with high-touch, local delivery and global capabilities as we leverage our rich, 150-year history. This is all part of our inclusive, high-performing culture supported by competitive Total Rewards, including our cash balance pension plan. Join a team that’s working to fulfill its vision to be the world’s most trusted financial group.
Job Summary:
Reporting to the Head of Wealth Markets the Managing Director for Private Wealth Management is responsible for driving revenue and profitable growth within a designated territory. Targeting the $3MM+ high net worth market, the incumbent is responsible for sales profitability within the following channels: wealth planning, investment services, risk management, trust and estate services, and banking and loans. The incumbent manages a large geographic network of Private Wealth Advisors, who develop, maintain, and manage the most complex and sophisticated affluent client relationships within the Bank.
The incumbent is expected to develop a diverse, highly skilled team within a large geographic area that delivers the full range of Wealth Markets capabilities to meet, anticipate, and offer expertise related to the complex needs of clients in the $3MM+ market segment. An important component of the role is marketing the Bank to prospective employees and actively participating in identifying potential candidates who have proven success with high net worth clients. The incumbent maintains and deepens relationships with internal and external partners and develop a strong reputation in the business community. Additionally, this role requires active representation of the Bank in professional organizations.
Major Responsibilities:
70% - Sales and Relationship Management:
• Within the $3MM+ affluent market, drive new client acquisition, profitable expansion of the Private Wealth Advisor portfolio, and retention of high value relationships by focusing on quality of client experience, consistency of service, and delivery of robust relationship management through needs based, consultative selling.
• Deliver effective coaching to enable Private Wealth Advisors to successfully evaluate a client’s financial health and then provide a full array of solutions including loans, investment management, insurance, trust services, and wealth planning products and services.
• Manage robust pipeline to achieve desired production and revenue targets.
• Develop business strategies to support and exceed sales objectives.
• Design and implements business plans to effectively leverage partners within the Bank to generate greater cross sell and revenue enhancement opportunities.
• Implement and foster a dynamic sales culture within the organization and effectively lead and coach Bank sales process.
• Proactively identify prospective clients, prepare presentations, follow up on client contacts and close the sale of products and services across the Wealth Markets spectrum.
• Develop marketing and sales strategies to grow a profitable portfolio, using external and internal resources.
30% - Performance Management:
• Responsible for all aspects of Private Wealth Advisor performance and accountable for advisor competency and goal achievement.
• Manage recruitment, training, and motivation of highly skilled Private Wealth Advisor sales teams.
• Assess staffing issues and performance gaps, and then provides effective and immediate intervention.
• Set Private Wealth Advisor goals.
• Share accountability for goal achievement with business partners, including profitability, cost control, compliance, and operational and risk management activities.
Qualifications
Education, Licensure, Years of Experience (and type of work experience):
• Position requires 10+ years of sales management and leadership experience with deep knowledge of high net worth markets.
• Required licenses include: Series 7, Series 24, and either a Series 66 or the combination of a Series 63 and Series 65, and appropriate state insurance licensing.
• Individuals who are not fully licensed will be allocated 180 days from date of hire to attain all required licenses.
• CFP (Certified Financial Planner), CFA (Certified Financial Analyst), CTFA (Certified Trust and Financial Advisor) or other related professional designation is preferred.
• Credit training and experience preferred.
Knowledge, Skills, Abilities:
• Proven track record in effective sales management, and effective recruitment, selection, and continuous employee development.
• Effective leader who works collaboratively with executive management and line leadership across the Bank divisions and disciplines to meet overall bank objectives.
• Possesses deep knowledge and clear vision of $3MM+ market place and products.
• Strategic orientation and ability to articulate the Private Wealth Management Bank mission, value statement, and goals.
• Sound operational and risk management knowledge.
• Excellent communication and interpersonal skills.
• Excellent financial acumen and strong analytical abilities.
• Ability to demonstrate the bank’s core competencies.
• Expected Travel: 50% travel, primarily on the West Coast of the United States
This position may be subject to SAFE Act Registration Requirements. Pursuant to the SAFE Act requirements, all applicants for employment who will be engaged in residential loan mortgage originations (as defined by the SAFE Act) must register with the federal registry system and maintain a status in good standing under the SAFE Act requirements. If at any time the Bank determines that your position requires SAFE Act registration, you will be required to register and submit to the required SAFE Act background check and registration process. Failure to register successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for continued employment and may result in your immediate termination.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.