Principal, Wealth Manager

Bring your ideas. Make history.
BNY Mellon offers an exciting array of future-forward careers at the intersection of business, finance, and technology. We are one of the world's top asset management and banking firms that manages trillions of dollars in assets, custody and/or administration. Known as the “bank of banks” - 97% of the world’s top banks work with us as we lead and serve our customers into the new era of digital.

With over 238 years of rich history and industry firsts, BNY Mellon has been built upon our proven ability to evolve, lead, and drive new ideas at every turn. Today, we’re approximately 50,000 employees across 35 countries with a culture that empowers you to grow, take risks, experiment and be yourself. This is what #LifeAtBNYMellon is all about.

As a leading wealth manager, BNY Mellon Wealth Management is focused on helping successful individuals and their families build, manage and sustain their wealth across generations and market cycles. Through a unique service model focused on five Active Wealth practices — Investing, Borrowing, Spending, Managing Taxes, Protecting Legacies — they help clients in the U.S. and abroad achieve stronger after-tax performance to help maintain their wealth over generations.

We’re seeking a future team member for the role of Principal Wealth Manager to join our Wealth Management team. This role is located in Cleveland Ohio. This role is a hybrid role with 3 days in the office and 2 days working from home.

In this role, you’ll make an impact in the following ways:

• The Principal (Senior Wealth Manager) provides comprehensive wealth management advice leveraging BNYM’s Active Wealth framework.
• PWM's are responsible for managing, retaining and growing existing client relationships, and for self-sourcing new client relationships. PWM's will also collaborate with and closes business sourced by Client Strategists.
• The PWM independently manages a portfolio of medium to large size client relationships and serves in a consultative role to the client, advising as to the best way to achieve short- and long- term wealth management goals. Responsibilities include: Articulation of BNYM’s Active Wealth framework and best investment thinking; clearly understanding and defining client goals and risk tolerance; modelling and forecasting investment proposals, including recommending optimal asset allocations; analyzing balance sheets for unrealized opportunities; aligning assets and liabilities to maximize tax efficiency; executing and proactively managing on an on-going basis.
• The PWM will also collaborate and leverage other functional team members and investment professionals to ensure that all of BNY Mellon's wealth management capabilities are provided to our clients. The PWM will have self-sourced IM and PB assets goals. May work with less senior Wealth Managers on large, complex relationships.
• The Principal independently evaluates and pursues new business opportunities and client prospects, focusing on responsible business growth that is compliant, of acceptable risk and profitable. Serves in a consultative role to prospects, advising UHNW and HNW parties on the best way to achieve their short- and long- term strategic objectives through the firm's solutions. Pursues clients and centers of influence with complex strategic needs and responsible for generating new revenue by way of increased flows and future fees.Client service (15%): Frequent and regular/scheduled interaction with clients, including in-person client meetings. Serve as clients’ primary point of contact and are responsible for ensuring that all of WM’s resources are provided to clients in the Active Wealth framework.
• Investment/portfolio management (30%): Subject matter expert on all investment and portfolio topics which impacts clients. Able to articulate WM’s economic and market outlook at a high/macro level, and are also able to articulate WM’s best investment thinking. In-depth knowledge of WM’s investment policy, investment architecture, investment strategy, investment solutions and policy portfolios. Primary responsibility for managing client portfolios in accordance with WM’s best thinking.
• Business development (25%): Demonstrate a business-development orientation and mindset. Annual self-sourced asset goals and are expected to leverage existing client and COI relationships by consistently and systematically asking for referrals from clients and COIs, to generate self-sourced asset inflows, both IM and banking, and future fee appointments. Works with teams on opportunities sourced by other functional team members.
• Risk Management (20%) - Ensure all policies, procedures, and regulations are properly followed and executed. Adherence to risk policies and absence of risk events are tied to client and/or sales activities.
• Training, development, and mentoring (10%): Continuous learning is expected. Serves as a role-model, and mentor, and trains less-experienced team members. No direct reports; provides guidance to less experienced Wealth Managers as needed.

To be successful in this role, we’re seeking the following:

• Bachelor’s degree or the equivalent combination of education and experience is required. Advanced/graduate degree preferred.
• 10 years of total work experience preferred. Financial Services experience with a particular client type or product (Hedge, Pension, etc.) preferred as is prior experience in Relationship Management, Client Services or Account Management.
• Strong analytical and problem solving skills, experience working in a highly detail oriented environment, strong proficiency with Microsoft Office, proven verbal and written communication skills are also preferred.

At BNY Mellon, our inclusive culture speaks for itself. Here’s a few of our awards:

• Fortune World’s Most Admired Companies & Top 20 for Diversity and Inclusion
• Bloomberg’s Gender Equality Index (GEI)
• Best Places to Work for Disability Inclusion, Disability: IN – 100% score
• 100 Best Workplaces for Innovators, Fast Company
• Human Rights Campaign Foundation, 100% score Corporate Equality Index
• CDP’s Climate Change ‘A List’

Our Benefits:

BNY Mellon offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves that can support you and your family through moments that matter.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans.

Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.