What are the responsibilities and job description for the Financial Advisor position at Osaic?
Financial Advisor/Wealth Management Director Job Description:
The Wealth Management Director is responsible for the successful operation, leadership, and daily oversight of the Wealth Management Department, ensuring the retention of current customers and driving the development of new business. Through effective leadership and coaching of financial advisors, as well as remaining apprised of market trends, competitor’s products, and pricing, and actively participating in community events and organizations, this role ensures the Bank remains competitive and customers receive superb service.
Essential Functions:
- Acts as primary contact for the Osaic Institutions Relationship Management Team at the Bank
- Responsible for management of the Wealth Management Department staff; including hiring, ensuring training and cross training, and performance management
- Works with Investment Executive to develop a Business Plan for the Osaic Institutions Program, monitors, and reviews program periodically with Investment Executive
- Producing manager with responsibility for sales of financial products and services including managed solutions, life insurance, long-term care and annuity products
- Works with other department heads to encourage teamwork in the referral and cross referral of clients
- Review quarterly reports provided by Osaic Institutions and implement agreed upon plans for improvement
- Responsible for the management of complaints without taking responsibility for resolution of complaints. Forwards all written and verbal complaints to Osaic Institutions Compliance Department for investigation. Monitors progress of complaint resolution by Osaic Institutions and assist with implementation of complaint resolution as required
- Monitor Osaic Institutions audits of bank brokerage program and ensure that exceptions are addressed, and recommendations considered for implementation
- Reviews monthly Revenue Sharing Statements and reconciles revenue and expense items on the report
- Prepare and present reports for Senior Management and bank staff regarding sales activity
- Prepare budget including sales goals, income, and expenses for the wealth management division
- Responsible for training of non-licensed staff for compliance to Interagency Statement and bank policies and procedures for non-deposit investment programs
- Reviews and maintains non-deposit investment policy and procedures
- Monitors banks compliance to policy and procedures
- Works with bank and state and federal examiners in the review of non-deposit investment program
- In conjunction with Audit Department, prepares annual Osaic Institutions due diligence reporting to bank board
- Implements and monitors Performance Improvement Plans for Investment Executives or other Financial Services staff when necessary
Success Competencies:
- Customer Focus: Making customers and their needs a primary focus of one’s actions; developing and sustaining productive customer relationships
- Quality and Work Standards: Setting high standards of performance for self and others, self-imposing standards of excellence rather than having standards imposed
- Integrity: Demonstrates honesty; keeps commitments; Maintains confidentiality and meets own commitments. Adheres to organizational policies and procedures
- Coaching Others: Providing timely guidance and feedback to help others strengthen specific knowledge/skill areas needed to accomplish a task or solve a problem
- Sales Ability/Persuasiveness: Using appropriate interpersonal styles and communication methods to gain acceptance of a product, service, or idea from prospects and clients
- Communication: Clearly conveying information and ideas through a variety of media to individuals or groups in a manner that engages the audience and helps them understand and retain the message
Minimum Requirements (education and experience):
- Bachelor’s degree in business or finance or equivalent work experience
- Five to seven years in Wealth Management, customer service and business development
- Excellent customer service, communication, management, and organizational skills
- Strong computer skills and familiarity with various software programs
- Series 7, 63/65 (or Series 66), Life, Health Licenses