What are the responsibilities and job description for the Wealth Management Portfolio Manager III position at Provident Bank?
Position Summary
The primary focus will be the direct portfolio management of investment accounts from wealthy families and high net worth individuals, as well as the generation of incremental fee revenue through additional cross-selling & services from these relationships. Takes on a stewardship role in regard to customization and management of client investments based on client’s objectives. To retain all assigned client base, the incumbent must establish and maintain a tight relationship to every client with the appropriate communication frequency Keep clients abreast of changes in their portfolio’s, and alert them of recommended changes in investment strategy, tax and other developments, etc. Refers clients to or works in conjunction with a team providing financial planning, tax planning, and trust/estate administrative services.
This position is considered the most experienced level in this job family. As such, the incumbent is expected to lead and train less experienced WM Portfolio Managers. The incumbent reports di-rectly to the Director of Investment Strategy.
Key Responsibilities
Performs other duties as required.
Bachelor’s degree in Management, Finance or Business Administration. MBA in Finance preferred.
Working Conditions
Work is performed in a normal office environment. Noise levels are usually moderate.
This position involves travel to customers and property locations.
Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.
Pay Details:ﾠﾠ$133,800 - $191,100ﾠﾠ
ﾠ
Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs. This role is incentive eligible based upon company, business, and/or individual goal achievement and performance. ﾠﾠﾠﾠﾠﾠﾠ
Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.
The primary focus will be the direct portfolio management of investment accounts from wealthy families and high net worth individuals, as well as the generation of incremental fee revenue through additional cross-selling & services from these relationships. Takes on a stewardship role in regard to customization and management of client investments based on client’s objectives. To retain all assigned client base, the incumbent must establish and maintain a tight relationship to every client with the appropriate communication frequency Keep clients abreast of changes in their portfolio’s, and alert them of recommended changes in investment strategy, tax and other developments, etc. Refers clients to or works in conjunction with a team providing financial planning, tax planning, and trust/estate administrative services.
This position is considered the most experienced level in this job family. As such, the incumbent is expected to lead and train less experienced WM Portfolio Managers. The incumbent reports di-rectly to the Director of Investment Strategy.
Key Responsibilities
- Performs portfolio management responsibilities including:
- Solicits existing portfolio customers in an effort to increase and retain AUM and cross sell Bank& BTC products and services. Initiates and participates in new business development presentations to prospective clients. Attends networking functions and business community meetings to expand social network and spread BTC reputation.
- Manages individual equity, fixed income and alternative investment accounts and asset allocation for high-net-worth client accounts.
- Helps set and record asset allocation and total return objectives based on management’s investment philosophy and each client’s objectives. Be responsible and accountable for diversification & stock selection for each client.
- Builds a high level of client confidence in BTC’s capabilities and in his/her knowledge of investment management. Articulates investment strategies. Keeps informed of material changes in client circumstances. Stays abreast of various legal and tax consequences of investment strategies.
- Interacts with client base on a close basis in order to generate client’s confidence that the comprehensive management strategies are tailored to their needs and meet/exceed their expectations.
- Communicates regularly with client’s external advisors in the legal, tax and accounting professions and build referral relationships with them.
- Contributes actively in investment meetings.
- Maintains accurate records in accordance with Bank & BTC regulatory policies (including Sales Force and Reg 9).
Performs other duties as required.
- 8 or more years related within financial industry with client portfolio management responsibility for managing discretionary and non-discretionary investment accounts for high net worth in-dividuals & families.
- Strong ability to analyze equity and fixed income securities and be able to initiate portfolio recommendations.
- Possess broad knowledge of various asset classes as well as allocation strategies & in-vestments in equity and fixed income markets.
- Prior experience in business development and proven success in client relationships.
- Strong platform experience in making professional presentations.
- Excellent customer service delivered in a timely professional manner.
- Proficient with software programs (Microsoft Word, Excel & Outlook), financial analysis programs and discounted cash flow models.
- Possess high degree of honesty and integrity. Demonstrated commitment to the highest ethical standards when dealing with clients and the public.
- Excellent communication, interpersonal and organizational skills needed to deal with a mix of personalities and egos.
- CFA preferred
- Series 65 required, or must obtain within 90 days of hire
Bachelor’s degree in Management, Finance or Business Administration. MBA in Finance preferred.
Working Conditions
Work is performed in a normal office environment. Noise levels are usually moderate.
This position involves travel to customers and property locations.
- Prolonged sitting
- Lifting from 5 to 10 lbs. (printer paper, storage boxes)
- Occasional bending or overhead lifting (storing files or boxes)
- The hazards are mainly those present in a normal office setting.
Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.
Pay Details:ﾠﾠ$133,800 - $191,100ﾠﾠ
ﾠ
Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs. This role is incentive eligible based upon company, business, and/or individual goal achievement and performance. ﾠﾠﾠﾠﾠﾠﾠ
Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.
Salary : $133,800 - $191,100
