Division: Commercial
Department: Private Banking
Reports to: Regional President
Status: Exempt/Officer
Grade: 14
Pay range: $115,297 - $244,889
Actual compensation within the pay range will be decided based on factors including, but not limited to, skills, prior relevant experience, and specific work location.
Location: Worcester, MA - 386 Main St
Purpose/Objective:
Oversees the direction of all activities involved with the development of new private banking and MyBanker business and the promotion of private banking, MyBanker, commercial banking and wealth management services in the market(s) served. Works personally in the development of new business for large accounts that are strategic high priority accounts. Initiates contact in the development and closing of new business of any @type (consumer/corporate) especially those that are large, complex, or significant accounts.
Key Accountabilities:
Develops and retains private banking and MyBanker business; meets with private banking high income/high net worth prospects in addition to MyBanker mass affluent high net worth clients 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. Establish and maintains market presence and a large network of outside referral sources for new business.
Supervises MyBankers, Private Banking Portfolio Managers, and MyBanker Portfolio Managers. Coaches and develops MyBankers and Private Banking/MyBanker Portfolio Managers to develop business. Ensures compliance, policies, and procedures are all kept and followed. Conducts annual performance reviews, responsible for the assigning and distributing workload and tasks for direct reports, testing and approving of archer system, conducting meetings with staff to appropriately communicate internal changes.
Develops new business through commercial lending, senior management, board of directors, branches 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 internal referral sources on private banking and MyBanker and relays current information on the Banks 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.
Gathers prospect and customer financial information. Answers inquiries and follow up on information requests and partners with staff from retail, commercial, consumer, insurance, and other departments as appropriate. Make 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.
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, research 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.
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. Take 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. Prepare management reports summarizing client activity, volume, and profitability.
Represents private banking and MyBanker roles 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.
Participates in special projects and performs additional duties as required.
Contributes to a positive, ethical, and respectful working environment and communicates openly with others. Models company culture both internally and externally.
Must be eligible to be registered in the Nationwide Mortgage Licensing System & Registry for purposes of SAFE Act, if applicable.
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 ones duties.
Education:
Bachelors degree or combination of equivalent education and work experience
Experience:
6+ years of related private banking or wealth management services experience
3+ years of 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, salesforce, FIS and the CMOL
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Berkshire Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin. If you would like to contact us regarding the accessibility of our website, need assistance completing the application process, or would like to request alternative methods of applying, please contact us athr@berkshirebank.com.
