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JOB FUNCTION / SUMMARY:
Wealth Management Business Manager is responsible for analysis, financialreporting, accounting, production reporting, and incentive administration for the assigned business unit(s) within Wealth Management. Additional areas of responsibility include: budgeting & forecasting, business management & communication in support of multiple business units and assigned functional areas.
ESSENTIAL DUTIES & RESPONSIBILITIES:
- Responsible for the overall financial information of the Wealth Management business units, including specific functional assignments
- Responsible for analysis of financial performance, projection and variance analysis as well as data and ad hoc analysis
- Responsible for Financial Reporting on internal management deliverables as well as regulatory reporting for business units
- Responsible for accounting of revenue and expense, accruals, accounts payable, research, variance explanations
- Responsible for performance & production reporting including business unit production reporting cycles for sales performance reporting and internal and cross-LOB referral tracking, reporting and sales campaigns
- Responsible for development, maintenance, approval and communication and training of incentive plans. Oversees the administration, support, appeal and issue resolution processes. Responsible for calculation, reconciliation and payment of incentive awards in accordance with plan documents
- Analyzes financial information to determine present and forecast future financial performance
- Coordinates the financial and production goal setting process with senior management to ensure alignment with budget/forecast as well as business unit, market, segment, and individual banker goals
- Develops the Income Statement and Balance Sheet budget/forecast from the goal setting process and the input and maintenance within applicable systems
- Responsible for developing and maintaining various financial models and methods to forecast and routinely updates estimates of the outstanding financialliability
- Responsible for developing policy, procedures and controls for duties within functional area of responsibility
- Acts as liaison with Finance Division, Human Resources and other bank committees/departments for projects impacting functional area of responsibility
- Manages the compliance function within functional area of responsibility including coordinating audits and exams in conjunction with and guidance from the corporate Chief Compliance Officer and business unit compliance team
- Incumbent is required to comply with all applicable federal, state, and local banking and industry related laws and regulations including but not limited to the Bank Secrecy Act
Carries out supervisory responsibilities in accordance with the organization's policies, procedures and applicable laws; Provides guidance and oversight to and is responsible for the coordination and evaluation of the assigned team. Responsibilities may include interviewing, hiring and training associates; planning, assigning and directing work; performance management; associatecompensation; approving expense reports; addressing concerns and resolving problems.
MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:
- Bachelor’s Degree required
- 8 – 10 years in analytical/financialexperience and/or sales reporting and/or incentive compensationexperience
- 3-5 Years of management experiencerequired
- CPA or other professional designation preferred
- Advanced understanding of Banking & Finance Operations
- Advanced understanding of financial planning, reporting and administration
- Experienced understanding of Compliance within the Banking industry
ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:
- Ability to work under stress and meet deadlines
- Ability to operate related equipment to perform the essential job functions
- Ability to read and interpret a document if required to perform the essential job functions
- Ability to travel if required to perform the essential job functions
- Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an “undue hardship” then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.