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Wealth Management Sales and Business Development Manager
Bank of the West
San Francisco, CA, United States
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Description
What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an environment where team members are engaged, supportive of one another and enthusiastic about serving our customers. Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, National Finance, and Wealth Management.
Job Description Summary
Manages a department that works as a team to own the execution of functional strategy, and the operational direction of the department. Responsible for developing and executing a cross channel strategy by enhancing client experience of distribution of wealth products and services throughout the footprint. Partners with business lines by engaging to successfully develop and implement sales/product strategy focused on accelerating the growth to the bank. Develops and implements sales strategies and initiatives, monitors and tracks results, may develop online campaigns and promotions, provide tools for sales activities and provide summary reports and updates to senior management. Interpret key performance metrics, identify trends and exploit opportunities for income growth for the Bank by translating the sales strategy into daily behaviors.
Essential Job Functions
• Define BOTW Wealth Management Group’s short and long term sales and client acquisition strategy in conjunction with WMG Head of Sales. Incorporate use of alternative channels, products and services in strategy and effectively utilize customer segmentation data in identifying target markets and client segments in designing sales strategies.
• Manage the regular production and sales management reporting within WMG to include ad hoc reporting to aid decision making, including client and initiative analytics. Perform, review and manage the analysis of WMG sales, product and client related data to generate actionable insights for executive management.
• Establish sales objectives by forecasting and developing annual sales quotas for markets/regions; project expected sales volume and profit for existing and new products. May be involved with business model/organizational redesign, market expansion, sales optimization, market segmentation & penetration, operations improvement and change management.
• Define, develop and implement clear performance metrics and monitoring programs to track performance in a simple, easy to understand manner, including; Product sales, expanding relationships and product use with existing clients, acquiring new households and client profitability and revenues.
• Use available data to accurately forecast sales and set appropriate performance goals. Participate in the performance goal setting process for regions, markets and in the design of employee rewards.
• Accurately develop and manage Sales Strategy and management departmental operating / expense budget and contribute to WMG budgeting process. Manage correct forecasting and actual spends of WMG LOB ICP’s expenses in partnership with Finance and Specialized accounting.
• Perform “Sales Process” audits annually in each market to highlight positive behaviors and t identify opportunities to enhance behaviors and tactics. Capture sales behavior best practices across the footprint and communicate to all offices; Capture sales process inefficiencies and obstacles and work with business partners to redesign.
• Manage the Net Promoter Score “NPS” program and monitor client satisfaction performance scores, developing plans with Regional Management as necessary to improve scores and performance.
• Develop and maintain relationships with business partners and key stakeholders ensuring effective: Representation of products and services, Performance reward program design, Delivery of sales and service training, Utilization of alternative channels, Representation of CRM data and customer information on WMG Data Mart and all systems within WMG.
• Partner with HR Operations Incentives team acting as the primary point of contact for WMG Line of Business (LOB) Incentive Plans, which may involve sitting on the Incentive Advisory Panel (IAP) to ensure Governance of effective incentive plans efficiently administered by WMG. Either directly or through a designated direct report will work with HR Compensation to advise and execute on plan development, design, modifications, cost modeling, sensitivity analysis, create plan manuals and ensure proper communications to the field and all eligible plan participants with direction from HR Compensation and/or HR Governance in required timelines per Legal and Compliance.
• Maintain professional and technical knowledge by attending educational workshops; reviewing professional publications, establishing personal networks; participating in professional societies.
• Develop and maintain strong working collaborative relationships with other BOTW Business Units (CG, CMPL, CNB, INSP, RBG, RMCA, Corp) CIB in New York, IRB and BNP Paribas in France.
• Demonstrate leadership in managing the sales strategy team.
• As necessary, in conjunction with the WMG Head of Sales, regional managers and wealth center managers develop tactical sales programs to address specific market opportunities or performance behaviors.
• Develop sales tactics and client sales message cues in conjunction with Product Management in support of bank-wide and local sales campaigns.
• Contributes to team effort by accomplishing related results as needed.
• Monitor competitors’ products, including relevant sales and marketing data.
• May have staff focus on projects and initiatives in the digital space, including the firm’s use of technology and social media.
Other Job Duties
• Responsible for the recruitment, development, coaching, counseling, discipline, writing and administering of performance reviews in a timely manner and retention of assigned team members.
• Performs other duties as assigned.
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Qualifications
Work Experience
• Typically requires a University Degree or equivalent experience
• Minimum of 12-15 years prior relevant experience in increasingly responsible sales development and strategy positions within the wealth management or financial services field, to include 5 or more year’s direct supervisory or managerial experience with employees working local as well as remote.
• Previous experience in senior sales leadership/management role with demonstrated ability to meet or exceed targets.
Skills
• Excellent analytical and organizational skills, decision making, creative and negotiation skills are required.
• Interpersonal skill requirements including the ability to manage, lead, develop and motivate professional staff and ability to work on interdepartmental project teams, and make recommendations or take appropriate actions.
• Demonstrated strong skills in all Microsoft Office software such as Word, Excel, PowerPoint, Access and ability to use other various hardware/software technologies as needed to include Appian Systems, IBM Cognos, Google Applications, etc.
• Track record of Meeting sales goals, strong Negotiation skills, demonstrates strong Motivation for Sales
• Demonstrated knowledge and strength of Sales Planning and Managing processes in a time sensitive environment.
• Experience building and maintaining positive relationships across the enterprise.
• Excellent management/leadership skills required to manage all levels of personnel including matrix management as required.
• Demonstrated market knowledge, Ability to develop Budgets and staffing models for various sales territories/markets based on client growth both actual and forecasted.
• Advanced knowledge of Wealth banking products, services, sales and delivery within a banking environment preferred.
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.