Wealth Operations Manager
Canandaigua National Bank & Trust
Location: 1150 Basin Park, Pittsford, NY 14534
What does a Wealth Operations Manager at CNB do?
Responsible for managing the Wealth Operations Department to provide efficient and accurate trust accounting record keeping, and reporting services for the bank and subsidiaries and affiliates ensuring the client experience is being delivered exceptionally to each client. As the Wealth Operations Manager you will be responsible for implementing strategies to achieve goals developed for the department as part of the division's annual operating plan; ensuring the department's compliance with operating policies and procedures and outside regulatory requirements; organizing the work, activities, and human resources of the department; directly supervising assigned personnel; communicating with appropriate management and staff personnel; providing periodic reports. This role manages the Wealth Operations Department to provide efficient and accurate trust accounting, record keeping, and reporting services.
What is needed to be successful in this role?
A B.A. or B.S. degree in a field related to banking, or equivalent education and work experience.
Specialized Wealth Operations education and training.
A minimum of ten (10) years' experience in related positions normally required.
What does a successful first year in this position look like?
Develops Wealth Operations procedures and programs designed to ensure the efficiency and accuracy of transactions processed in trust, estate, investment management, custody, employee benefit and individual retirement accounts including:
Security and mutual fund trade processing and settlement.
Security and mutual fund income processing.
Reconciliation of assets to various custodians.
Account disbursements and bill payments.
Account deposits.
Production and processing of monthly customer statements.
Production and processing of annual tax reporting forms.
Preparation of management and regulatory reports.
Communicates Wealth Operations procedures to department personnel and other division personnel
Develops/maintains Wealth Operations procedure manuals.
Interfaces with other Lines of Business and key vendors with respect to data processing, services, equipment, software, etc.; makes recommendations for changes or improvements.
Works in a collaborative manner with the leaders of each wealth line of business to assure all efficiencies of scale are optimized; ensures each line of business works in a coordinated, strategic manner with the resources available.
Reconciles any Wealth Operations problems with other wealth lines of business and/or divisional personnel.
Analyzes the results of trust audits and examinations; takes required actions.
Manages the CNC stock transfer agent function.
Assists in Form 1099 and Form 945 processing
Implement strategies to achieve goals assigned to the department as established in the division's annual operating plan; assists in the development of the annual budget for the department and adheres to budget parameters.
Organizes the work and activities of the Wealth Operations Department to achieve established goals; monitors the efficiency and performance of the department versus established standards.
Prepares monthly management, compliance and other reports as required throughout the bank.
Actively participates in strategic planning activities.
Maintains an active awareness of changes in legal and tax requirements which may affect the business
Reports pertinent information to the immediate supervisor as requested, or according to an established schedule; compiles information as necessary or as directed and provides data to appropriate bank personnel.
Responds to inquiries relating to their area, or to requests from clients, other bank personnel, etc., within given time frames and within established policy.
Provides leadership, on-the-job training, and Trust Accounting System and/or other department application technical guidance to Wealth Operations Personnel.
Directly supervises assigned personnel.
Assists with various administrative tasks to support department operations, as directed; assists with strategic and other wealth projects.
Communicates with the Wealth Business Administration Manager, other department Officers, and appropriate staff personnel to integrate goals and activities.
Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank's compliance with all regulatory requirements.
Abides by the current laws and organizational policies and procedures designed and implemented to promote an environment which is free of sexual harassment and other forms of illegal discriminatory behavior in the workplace.
What makes working at CNB different?
At CNB, we are Investing in You. Our strong corporate culture is based upon seven Core Values: Honesty and Integrity, Responsibility, Teamwork, Respect, Innovation, Professionalism, and Commitment. Our culture nurtures passionate employees and offers great rewards including:
Medical, Dental, Vision, FSA, HSA options for both part-time and full-time employees. Medical coverage is also offered for domestic partners.
Paid Holidays, Vacation, and Sick time.
Retirement benefits that include a 401(k), Profit Sharing, and Employee Stock Ownership Plan (ESOP).
Training & Development Opportunities.
Tuition Assistance.
Volunteer Opportunities.
Award Winning Wellness program that promotes a solid work/life balance.
Banking perks and discount programs.
Our goal is to ensure that our bank, employees, and our community thrive and grow, now and for the next 125 years. We're in it for the long haul. What truly sets us apart from other financial institutions is the quality and commitment of our employees. We've assembled a diverse team of people who share a primary focus: to provide exceptional service for our customers.
As an organization, we are committed to hiring, training, developing, promoting, and celebrating employees from historically disadvantaged groups. At CNB, we welcome the unique contributions that you can bring in terms of ethnicity, race, sex, gender identity and expression, nation of origin, age, languages spoken, veteran's status, religion, disability, sexual orientation, education, and culture.
As the only local, full-service, community-owned financial institution in the Rochester area, Canandaigua National Bank & Trust is Investing in You. If you want to be a part of something special, join us today!
Canandaigua National Corporation and its subsidiaries encourage diversity in the workplace; we are an Equal Opportunity Employer. Minority/Female/Sexual Orientation/Gender Identity/Disability/Veteran.
Compensation range- $88,500 - $109,000/yr.
The actual salary offered within the range is dependent on a variety of factors including, but not limited to, relevant experience, qualifications, skills, level offered, and performance expectations.
