Job Type

Full-time

Description

The Senior Wealth Management Officer is responsible for managing trust accounts, and for the oversight of all trust, non-deposit investments, and insurance activities for the Bank. This role has a focus on business development for Bluestone Wealth and Trust and ensures that the Bank and its various lines of business are promoted throughout the marketplace through the development and expansion of new business and referral sources. As a department leader, this role has responsibility for new business acquisition, bank and department compliance, team oversight, and client service. It also ensures that shared services resources are collaboratively utilized and accessed.

Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

Department Management and Leadership

• Reports directly to the President and CEO and reports progress of business initiatives at Board and other meetings. Establishes and achieves plan to grow recurring fee base and other revenue sources within the Wealth and Trust department.
• Manages fixed and discretionary expenses to maximize department profits.
• Responsible for the preparation and oversight at regularly scheduled Board and Management Committee meetings.
• Oversees activities of the Wealth and Trust department, including development, maintenance and enforcement of administrative and investment policies and procedures. Ensures adherence to all applicable internal and external quality assurance and compliance regulations.
• Manages department activities; sets and coordinates priorities, monitors and evaluates workflow and progress against goals, provides advice, training and guidance, intervening as necessary to resolve problems and expedite operations.
• Encourages personal and professional growth for all direct reports, incorporating ongoing responsibilities as well as special projects and assignments.
• Develops and maintains relationships with Bank peers, staff, Board members and corporators in order to enhance organizational support and knowledge of Wealth and Trust services.
• Develops and recommends annual budget, operational, and strategic plans for the department.
• Partners effectively with shared services resources to ensure mutually effective operational support to the department.

Client Management and Support

• Directs and coordinates activities relative to administering investment management accounts and a variety of trust accounts in accordance with their governing instruments, as well as state and federal tax and fiduciary laws. Locates, directs and coordinates the transfer and placement of funds, securities, and other assets into investment management and trust accounts.
• Performs in the role of a trusted financial advisor by coordinating and developing strategies to effectively deal with all aspects of the clients' financial situation. This includes financial, retirement and estate planning issues and involves working in concert with the clients' other advisors such as accountants and attorneys. Acts as an advocate for clients in order to facilitate all of their financial dealings with the Bank.
• Directs and coordinates the disbursement of funds according to the conditions set forth in the accounts' governing instrument.
• Maintains active communication with Bank colleagues, clients, beneficiaries, legal counsel and co-fiduciaries.
• Takes primary responsibility for quality of client experience in dealing with Wealth and Trust team members. Ensures all department members listen attentively to clients, understand and prioritize needs, follow-up consistently and timely, and handle concerns and objectives effectively.
• Anticipates effects of changes in tax and estate laws to individual relationships and works with Trust officers to develop and implement strategies specific to individual client relationships.
• Anticipates trends in client service expectations and initiate appropriate actions in a timely manner to address these needs.
• Creates and communicates customized client presentations to identify financial needs and explain Bank solutions. Follow through as required.

Compliance

• Oversees, enforces, and ensures proper fiduciary controls of all applicable assets under Wealth Management.
• Acts as primary liaison with federal and state regulators with respect to regulatory examinations and other regulatory matters.

Business Development

• Identifies and solicits new accounts through new and established referral sources.
• Participates in business development by introducing clients, referrers, and other business and community contacts to other financial solutions offered by the Bank. Works closely with customer-facing officers to increase department wide referral opportunities.
• Promotes Bank and Wealth and Trust services within the community by joining and participating in civic groups and clubs and establishing and cultivating a network of contacts with peers at other organizations: American Bankers Association, Massachusetts Bankers Association, government agencies, and other potential business sources.
• Works with other Bank officers and retail staff to identify and pursue opportunities to promote services to their current clients, customers and referrals sources. Provides communication and training to Bank staff with respect to Wealth and Trust services.
• Actively engages with outside individuals for the opportunity to enhance and grow the team.
• Other related responsibilities.

The pay range for this position is $220,000 to $240,000 per year and is the lowest to highest salary we in good faith believe we would pay for this role at the time of this posting. We may ultimately pay more or less than the posted range, and the range may be modified in the future. An employee's pay position within the salary range will be based on several factors including, but not limited to, relevant education, qualifications, certifications, experience, sales or revenue-based metrics, and business or organizational needs and affordability.

Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and talk or hear, reach with hands and arms; and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and the ability to adjust focus. This position will require travel to and from customer sites.

Requirements

• Bachelor's degree in Business Administration or related discipline, with a CFP, CTFA, and/or CPA designation.
• Minimum 15 years of progressively responsible experience in trust management, estate settlement, and wealth and investment management.
• A history of success in a community banking environment preferred.
• Minimum 5 years of department leadership experience.
• Proven business development skills with demonstrated ability to grow business lines and referral sources.
• Strong customer service and excellent written and verbal communications skills.
• Ability to work effectively with customers under circumstances requiring tact and diplomacy.
• Excellent MS Office skills and experience working with various online systems and outsourced partners.