Producing Investment Services Manager

About the role

The Producing Investment Services Manager operates in a dual role as both a revenue-producing Investment Officer and the managerial leader responsible for the operational, compliance, and administrative functions of the Investment Services program.

Responsibilities

• Functions as liaison between Washington Trust Bank and other banking systems in all non-product and non-sales manager functions.
• Provides answers to questions posed by various Departments within the bank including audit, accounting and management.
• Makes sure reports from the third-party broker/dealer are accurate, resolves problems as they arise and recommends corrective action.
• Escalates to the Program Manager or other person designated by the WM&AS Department Director for most complex issues.
• Responsible for processing and assuring accuracy of general ledger accounts and other Bank accounts assuring department stays “in balance” by resolving discrepancies as they arise.
• Documents resolution for audit trail. Recommends corrective action and communicates resolution with the Program Manager or other person designated by WM&AS Department Director when appropriate.
• Establishes written procedures for Department to ensure a productive, cohesive relationship between WTB and business partners.
• Alerts the Program Manager or other person designated by WM&AS Department Director of any deviations from securities regulations.
• Solves purchases and sales related problems independently including communicating with Investment Officer and third-party broker/dealer to discover error and follows-up to ensure resolution, documenting resolution.
• Communicates resolution with Program Manager or other person designated by WM&AS Department Director when appropriate.
• Provides assistance to Investment Officers and Sales Assistants in resolving customer questions or problems using thorough knowledge of the 3rd Party computer system and building relationships with their employees.
• Tracks all License Renewals, CE requirements, and State Registrations.
• Provides functional oversight of Sales Assistant functions including but not limited to: Opening new customer accounts, assuring that all required information and documentation are provided and that the file is complete.
• Aids Investment Officer with the preparation of sales presentations and periodic reviews for clients that includes gathering appropriate support documents i.e. prospectuses and approved sales material.
• Aids Investment Officer with documentation requirements, attaining proper documentation for any changes to a client’s account i.e. settlement instructions for purchases and disbursements; address changes; account updates; and objective changes.
• Accepts buy and sell orders for securities as well as answer customer questions regarding these securities including giving quotes and discussing the specifics of different securities, always complying with securities regulations and sound banking practices using sound judgment.
• Maintains a working knowledge of sales-related policies and procedures to assure that his/her business conduct complies with all applicable securities regulations and safe and sound banking practices.
• Maintains a high level of knowledge about the investment services offered through WTB. This will be achieved through on-going participation in formal and informal education programs.
• Makes suitable recommendations concerning investment services.
• Participates in regular training programs with employees of WTB and/or its affiliates. These programs will emphasize (1) product knowledge (2) prospect identification (3) referral procedures and (4) regulatory compliance issues, and other areas of interest.
• Supports approved referral programs to assist employees in making qualified referrals.
• Uses proven methods to develop investment business including general issue and product-related seminars, statement stuffers, direct mail, networking (CPAs, Attorneys, etc.) and other methodology to generate potential investment clientele.
• Performs compliance and risk management duties as required or assigned.
• Regular, reliable attendance is required.

Qualifications

• Experience in the Securities Industry, preferably with a NASD Firm.
• Series 6, 7 and 24. If not currently licensed, willing to become licensed within 6 months.
• Strong attention to detail and high degree of accuracy.
• Organization skills, ability to track and follow-up multiple projects simultaneously.
• Ability to work with aggressive, goal-oriented individuals under continual deadlines in fast paced, professional environment.
• Self-motivated and able to handle time-sensitive deadlines.
• Excellent written/oral communications and interpersonal skills; ability to collaborate with and work effectively with diverse groups of people across departments/divisions.
• Demonstrated proficiency with various software applications, including the Microsoft Office Suite: spreadsheets, word processing, database, email, networking and internet applications.
• Very strong decision-making and problem-solving skills.
• Clear understanding of the division and company goals, communicating and supporting them to others.
• Ability to prioritize workflow and manage multiple tasks in a self-directed, proactive manner.
• Requires a minimum of 7 years’ experience in the financial services industry with a proven track record of sales production during that period (documentation required).
• Professional credentials and/or designations are desirable.

Pay

$98,976 - $148,465

Schedule

Not specified