Wealth Manager

At Redwood Credit Union, our mission is to passionately serve the best interests of our Members and communities. Since 1950, we have been dedicated to supporting the financial well-being of our Members through better rates, low or no fees, and best-in-class customer service. Our purpose is to inspire hope and elevate the financial well-being of our communities one person at a time, through good times and bad. As a not-for-profit financial institution, we are committed to a people-first approach, fostering a culture of heart and empathy, integrity, passion, inclusion, meaningful relationships, excellence, and ensuring financial well-being for all.

About the role

This position supports the planning, organization, and management of Redwood Credit Union's Wealth Management program. The role emphasizes providing excellent Member satisfaction and significantly growing sales and services through full-service investment and retirement products and services.

Responsibilities

• Review and identify cost-effective utilization of all resources.
• Lead and direct the management of staff to ensure availability of skills and abilities needed to meet RCU’s vision, mission, values, and service doctrine.
• Analyze and communicate information about performance, competition, marketplace, and company resources.
• Manage the development of all assigned Advisors through an internal business development program and motivate staff to sell and market RCU.
• Participate in and represent Redwood Credit Union at internal and external events and community functions.
• Assist with Member complaints and issues, ensuring prudent risk behavior and adherence to the Code of Ethics.
• Foster internal cross-business partnership and collaboration.
• Mentor and coach sales and service results.
• Manage and direct assigned Advisors and Wealth Management products to provide exemplary service and generate non-interest income for RCU.
• Establish and/or implement measurement criteria for tracking results, assigning priorities and resources, and ensuring timely completion of assignments.
• Provide regular feedback and progress reports regarding Wealth Management sales practices and business development initiatives.
• Utilize reporting systems to keep the Leadership Team informed of all Wealth Management activities and production.
• Continually assess the competitiveness of all programs and practices against relevant comparable companies, industries, and markets.
• Maintain relationships with external partners, Member Experience, Compliance, Legal, Risk, Marketing, and IT departments to deliver new products and promotions.
• Ensure compliance with pertinent government rules and regulations.
• Evaluate efforts to develop business to assure efficiency and resources are used within guidelines and policies.
• Work with Leadership on setting and meeting production goals and oversee the daily activities of assigned Wealth Management department team members.
• Design and implement training and continuing education programs for team members in conjunction with the Educational Development Department.
• Possess knowledge of department-related regulations and communicate relevant updates to the organization.
• Recruit, select, train, motivate, coach, evaluate, and develop reporting staff.
• Lead investment initiatives, such as call nights, branch training, business outreach, etc.
• Travel to branches and departments regularly to market and promote Wealth Management to Members and team members.
• Maintain and recruit team members to meet targeted quantity and quality.
• Implement wealth management disciplines on effective Member engagement, planning, service models, and use of tools available through Redwood Credit Union and CUSO Financial Services.
• Develop and encourage sound Financial Planning practices by team members.
• Implement plans and policies to attain goals and objectives, measure progress, and implement adjustments as appropriate.
• Support evaluation, research, and analysis to provide recommendations related to new and existing product offerings and partnerships.
• Assist in execution of Wealth Management strategic marketing plans in coordination with the Marketing & Communications Department.
• Assist in execution of strategies to support growth of Wealth Management as well as all other goals of Redwood Credit Union.
• Organize community seminars on investing, retirement planning, and other financial products offered.
• Volunteer time and capital in community non-profit groups and participate in community events, volunteer boards, and associations.

Requirements

• Thorough knowledge of all aspects of Wealth Management offered by financial institutions.
• Thorough knowledge of modern management techniques and practices.
• Thorough knowledge of bank deposit products.
• Current knowledge of Federal and State investment laws, rules, and regulations.
• Knowledge of national and local economic and competitive trends and conditions.
• Strong negotiation and sales leadership skills.
• Ability to comply with all terms of RCU and CFS manuals and policies.
• Highly skilled in the operation of a personal computer with word processing, spreadsheet, and presentation software with Intra/Internet access.
• Ability to lead and achieve results from others through motivation.
• Ability to analyze problems and opportunities, identify and evaluate alternatives, and develop sound, effective approaches.
• Ability to plan, implement, and evaluate the achievement of goals, objectives, and work plans.
• Ability to lead, motivate, and supervise team members.
• Ability to establish and maintain effective working relationships with a diverse group of people including regulators, Members, internal team members, attorneys, vendors, and other parties.
• Ability to communicate effectively both verbally and in writing.
• Ability to travel 50% of the time.

Qualifications

• FINRA Series 7, 24 (or 9/10), 66 (or 63/65) licenses required.
• California Life Insurance license required.
• Combination of education and experience equivalent to a bachelor's degree in business administration, finance, or a closely related field, with a minimum of eight years of experience in financial services, including investments and insurance.

Benefits

• Competitive medical, dental, and vision insurance, including mental health offerings.
• Employee performance incentive plan.
• Salary advancement through merit increases based on performance.
• 401(k) program with employer match.
• Competitive PTO accrual plus 11 paid company holidays and your birthday off.
• RCU employees are eligible for a 0.75% discount off RCU standard collateral auto loans.
• RCU employees are eligible for a 1% discount on all recreational or boat loan products.
• 2% discount off Visas and LOC Loans through RCU.
• 0% interest loan to support employees with various immigration-related expenses such as visa application fees and relocation costs (loan amount up to $1,000).
• 0% interest loan to support employees with expenses associated with the naturalization process (loan amount up to $15,000).
• 0% interest on garment, fitness, or home office equipment loan of up to $500.
• 100% financing for employee-purchased homes.

Pay

Base starting range: $141,979 to $167,039 annually + Commission. Our base salary starting range is based on scope and responsibilities of the position, candidate's work experience, education/training, key skills, and internal peer equity. We offer a competitive total rewards package including a wide range of medical, dental, vision, financial, and other benefits.

Physical Requirements

• Ability to travel to offsite corporate and branch locations as needed.
• Ability to stand, bend, stoop, sit, walk, twist, and turn.
• Ability to lift up to 15 pounds.
• Ability to use a computer keyboard and calculator.
• Work environment is indoors; majority of the time is spent sitting at a desk.