Director of Private Banking
Job Posting for Director of Private Banking at WaFd Bank
The Director of Private Banking reports directly to the Regional President. The Director of Private Banking is primarily responsible for attracting, growing, and retaining a designated portfolio of high-net-worth commercial clients for the Bank in the geographic market being served. Success attributes for a Director of Private Banking include proven business development skills, proven ability to retain, coach and motivate staff, proven ability to recruit teams to generate profitable businesses aligned with our risk and client selectivity appetite. Demonstrates superior portfolio management, sales management and risk identification skills.
This position manages a team of five to ten Private Banking individuals, including Private Bankers, Mortgage Bankers, Deposit Coordinators, Loan Assistants and Credit Analysts. The team's primary focus is on retaining and increasing business with existing commercial clients and obtaining new profitable relationships for the Bank. The Director of Private Banking is expected to play an active role working directly with existing and prospective clients and teach and mentor team members in, negotiating credit and non-credit products, portfolio management and advisory/sales.
Along with the key functions listed below, the Director of Private Banking will be expected to uphold the value that WAFD Bank places on serving with integrity and simply being nice.
Key Functions:
- Engages in business development activities for target client segment: Minimum Tangible Net Worth: $5,000,000; Deposit Relationships $500,000 and above
- Acts as the main point of contact and provides comprehensive and knowledgeable advice as a trusted consultative financial advisor; places the client's best interest first; expands client relationship through introductions with various banking areas and personnel.
- Meets with clients to discuss unique needs and requirements; recommends appropriate banking product and service solutions that are specifically tailored for each client.
- Participates in community, business and service organizations, actively involved in instilling and maintaining a positive environment through education of the Bank's products and services; assists in the organization of the private banking department, coordinating available resources (e.g., staff, materials, etc.) for maximum results; and reviewing marketing strategies in relation to department and Bank goals and recommending suitable marketing approaches.
- Partners with internal and external entities to source and solidify relationship opportunities and attain customer financial goals.
- Assists in the formulation, recommendation, and implementation of policies and procedures pertaining to the Bank's private banking services.
- Exercises control over assigned department functions and establishes the goals and objectives of these areas.
- Provides superior customer service and follow through when handling issues related to Bank vendors, employees and clients.
- Responds to inquiries or refers inquiries to the appropriate department or person and exhibits the necessary follow through with customers and/or staff involved.
- Provides supervision and support to all areas of the private banking team where service or assistance is needed.
- Assumes responsibility for special projects; gathers data and prepares reports for Management, audits and other personnel.
- Demonstrates knowledge of and adherence to Equal Employment Opportunity (EEO) policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
- Assures compliance with all Bank policies, procedures and processes, and all applicable state and federal banking laws, rules and regulations; adheres to Bank Secrecy Act (BSA) responsibilities that are specific to the position.
- Completes administrative tasks correctly and on time; supports the Bank's goals and values; benefits the Bank through outside activities.
- Other duties assigned.
Education/Skills/Training:
- Bachelor's degree (BA) from a college or university, or five of related experience and/or training, or the equivalent combination of education and experience.
- Work related experience should consist of an in-depth background in consumer and/or commercial credit decision making, private banking lending sales and services, portfolio management of high-net-worth customers, and supervisory skills.
- Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be applicable to the financial industry.
- Must have excellent organizational and analytical skills and superior written and oral communication skills.
Experience:
- Advanced experience, knowledge and raining in lending and operations activities and terminology.
- Proven skills to develop marketing and business development skills with customers.
- Demonstrated ability to cross-sell and explain all Bank products and services with confidence and authority.
- Advanced knowledge of financial products and services, including, but not limited to consumer and commercial banking products and services, trust, insurance, etc.
- Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.
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Salary.com Estimation for Director of Private Banking in Salt Lake City, UT
$116,440 to $153,150
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