Private Banking Officer

Position Summary

The Private Banking Officer will serve as primary relationship advisor for high net worth and ultra-high net worth clients. This officer is responsible for developing and administering strategies, sales, and plans to grow the Private Banking division for our market. This officer is responsible for developing and deepening client relationships through need-based, high-level client service and through delivery of the full suite of the Central Bank Private Banking platform. Accomplished and proven at acquiring new clients by leveraging their external network and firm place in the community to provide confident, comprehensive banking and wealth management advice across commercial banking, retail banking, and trust businesses with skills in financial planning, investments, deposit and financial products, and other private banking services. Conducts relationships and activities consistent with established Bank policies, procedures and systems, the corporate code of conduct, Bank Secrecy Act and all applicable State and Federal laws and regulations.

Essential Duties And Responsibilities

Client Acquisition & Business Development

• Meet revenue growth, profitability and client retention goals by acquiring new clients through business development and expanding services and marketing new products to existing clients.
• Expected to be the expert level "market moving" and “rain maker” advisor with ability to bring in a significant level of deposits and investments and fee income products across retail and commercial banking.
• Self-acquires significant new business by being active and well connected in the community.
  
  
  

Client Service Excellence

• Able to handle the most challenging, sensitive and complex relationships.
• Team and peer group role model for other Private Bankers, Trust Relationship Managers, Commercial Bankers, and Retail Bankers.
• Works within the existing audit, compliance and regulatory framework to ensure a high quality, compliant portfolio of relationships.
• Develop short and long-term initiatives that align with the company’s vision and provide guidance, coaching and development opportunities for the Private Banking team, ensuring the success of the line of business.
• Lead, mentor, and motivate team members (when applicable) to implement the Private Banking model’s initiative, taking ownership for upholding the priority of concierge client service, our company’s culture and driving it within the business unit.
• Communicate decisions, priorities, and relevant information to appropriate members of the team as passed down from the Organizational level (when applicable).
  
  
  

Strategic Planning & Business Line Partnership

• Oversee budget management, forecasting/planning, and expenditures, to maximize business unit’s profitability with Private Banking Manager.
• Develop strategic calling plans for maximizing investment, loan and deposit activities and results, in conjunction with other commercial banking managers within the organization.
• Work with line of business leaders to develop marketing plans to maximize benefit to the Private Banking area as well as the overall organization.
• Recruit & develop Private Bankers (PB) & Client Service Associates (CSA)(when applicable).
• Assist in the development and oversight of the marketing and calling efforts of the business unit as it pertains to Wealth Management opportunities (specifically for Private Banking).
• Determine proactive calling and cross-selling practices and behaviors for sales and service of client base.
• Monitor and coach the Private Banking team (when applicable) to achieve the business unit’s sales results, cross-selling productivity, and the creation of wealth management opportunities.
• Plan and oversee marketing or external events with the assistance of the Bank, Central Trust Company, Central Investment Advisors, to maximize the organization’s visibility in key segments of the market.
• Work with commercial credit leadership to establish Private Banking guidelines for commercial lending referrals to meet our prudent lending standards and complement the Bank’s overall strategic plan.
• Consistent contact with organizational partners and management in Retail Banking, Commercial Banking, Trust Company, and Mortgage areas to maximize growth opportunities and expansion of new and existing client relationships.
• Consistent contact with clients, prospects, referral sources (accountants, lawyers, medical professionals, centers of influence, outside organizations such as EPC, etc.).
• Perform other duties as assigned.
• Maintain appropriate legal, operating and regulatory controls to manage risk and compliance.
  
  
  

Additional Duties And Responsibilities

• Assist others as needed. May be assigned other duties and responsibilities. May be assigned work or training at other assigned locations.
  
  
  

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Position Requirements

• Bachelor’s degree, MBA, CFP or CRA preferred.
• Demonstrated ability to manage a portfolio of high net and ultra-high net worth clients with complex retail banking, commercial banking, and wealth management needs.
• Minimum 7 years of experience in sales and client management experience in Private Banking, Wealth Management, or Commercial Banking. Minimum 7 years of developing and executing sales and marketing plans.
• Experience with retail and commercial banking deposit products.
• Demonstrated understanding of investments, banking, and trust concepts including, but not limited to, asset allocation on managed portfolios, brokerage accounts, portfolio reviews, deposit and loan solutions, basic trust and estate products.
• Experience with an in-depth knowledge of equities, fixed income, structured notes, and alternatives.
• Measurable track record of successfully selling to high net-worth clients.
• Strong client relationship management and sales skills.
• Experience in profiling and formulating strategies for potential clients.
• Expert leadership and management knowledge/skills, such as divisional goal creating and setting, strategic planning, budgeting, P&L supervision, and personnel administration.
• Excellent critical thinking, problem solving, and decision-making skills - having the ability to establish rapport across the company and effectively create and implement new strategies to address complex business issues and grow in a competitive and crowded wealth management space.
• Strong analytical ability.
• Easily adaptive to fast and sweeping change, high resiliency to business and company situations that may arise, while maintaining an optimistic outlook, and helping to cast a positive influence and mindset, that is in line with Central’s culture and core values.
• Ability to create a high performing team of individuals in the Private Banking and Wealth Management fields and successfully lead initiatives, projects and activities that achieve departmental and organizational growth and business objectives.
• Excellent interpersonal skills, with particular strengths in an ability to work across the Organization and interact effectively at all levels of management and Bank peers.
• High level proficiency with Microsoft Word, PowerPoint, Excel, and Outlook.
• Ability to drive a vehicle. Must maintain a current, valid driver’s license and an acceptable driving record for bank insurance purposes.
• Ability to read, write, and speak English.