Full-time

Boston

Division:               Retail Banking
Department:          Private Banking
Reports to:            SVP, Director of Private Banking
Status:                   Exempt/Officer
Grade:                   14
Location:              60 State Street, Boston, MA 
 
Purpose/Objective:  
Oversees the direction of all activities involved with the development of new private banking business and the promotion of private banking services. Works personally in the development of new business for large accounts that are strategic high priority accounts. Establishes and implements programs designed to generate new business and promote trust services. Initiates contact in the development and closing of new trust businesses of any type, especially those that are large, complex, or significant accounts.
 
Key Accountabilities:
  1. Develops and retains private banking business; meets with high income/high net worth prospects and customers to offer a complete array of company products and services in coordination with various other departments according to established company procedures and applicable legal and regulatory guidelines. Establishes and maintains market presence and a large network of outside referral sources for new business.  
  1. Develops new business through commercial lending, senior management, board of directors and current client referrals as well as centers of influence, including accountants and attorneys.  Maintains network of referral sources and proactively asks for prospect leads; trains referral sources on private banking and relays current information on the Bank’s products and services.  Participates in retail, commercial and other related business line meetings to coordinate efforts.  Develops and implements marketing strategies to increase customer sales and retention, including contributing to development of private banking products, branding and advertising in coordination with the Marketing Department and others.
  1. Gathers prospect and customer financial information.  Answers inquiries and follows up on information requests and partners with staff from retail, commercial, consumer, insurance and other departments as appropriate.  Makes presentations to groups as needed, such as physician groups, business organizations and others.  Coordinates with related departments to review customer and prospect situations and determines appropriate products and services to offer.  Coordinates commercial, consumer and other loan requests through established processes.  Evaluates clients’ financial situations and recommends and negotiates for policy exceptions on behalf of clients, if applicable.
  1. Provides leadership and direction as it relates to employee selection, onboarding, training and development, coaching and performance management.  Communicates job expectation, manages the goal setting and performance appraisal process.  Actively motivates, engages and develops staff members to achieve top performance.
  1. Serves as a primary point of contact and provides a high level of ongoing personalized, convenient, confidential customer service; coordinates account openings, loan documentation processing and ongoing account transactions to ensure quality service and to minimize any work for customers.  Takes customer service calls personally from clients, researches problems and resolves issues, such as ordering checks, processing wire transfers and correcting bank errors; makes policy exceptions within authorized authority or with management or other approval as necessary.
  1. Performs a variety of portfolio management and compliance functions.  Monitors client portfolios for adherence to company policies and procedures, including loan agreements and terms.  Provides input to maintain current risk ratings on customers.  Takes appropriate action as necessary to correct deficiencies.  Administers customer identification and other compliance programs and coordinates with Compliance, Risk, Audit and other departments related to high interest rate, line of credit and other products and service offered to clients.  Adheres to FDIC guidelines regarding retail and other transactions.  Ensures accuracy and maintenance of customer records and files and updates information as needed; provides information to auditors, examiners and others as requested.  Prepares management reports summarizing client activity, volume and profitability.
  1. Represents private Banking at company functions, business groups and civic organizations to maintain wide referral network and enhance sales performance.  Joins and participates in outside associations and organizations likely to generate prospect leads.
  1. Participates in special projects and performs additional duties as required.
  1. Contributes to a positive, ethical and respectful working environment and communicates openly with others.   Models company culture both internally and externally.
  1. Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one’s duties.
Must be eligible to be registered in the Nationwide Mortgage Licensing System & Registry for purposes of SAFE Act, if applicable.
 
Education:
  • BA or equivalent combination of education and work experience
Experience:
  • 6+ years’ related financial services experience
  • 3+ years’ management experience
Skills & Knowledge:
  • Strong understanding of private banking business development techniques, products, services and overall industry
  • Proven business development track record; strong market presence with wide network of outside referral sources for new business
  • High level of personalized customer service skills, including ability to work with wide variety of clients and provide and exceptional level of service
  • Credit and financial analysis skills
  • Excellent negotiating and influencing skills
  • Organized self-starter with ability to work independently with little direct guidance
  • Excellent communication skills – verbal, written and presentation; ability to present to large, sophisticated audiences
  • Proficient with Microsoft Office Suite