This leadership position has overall responsibility for the business line of Investments and Trust. The successful incumbent will direct our trust and investment strategies to drive growth and achieve the highest level of relationship management. This leader is responsible for overall leadership of the investment team including talent/performance management, growth and profitability (including bottom line performance/P&L for business line), sales/product management, cross team collaboration and compliance / risk management. In addition, this leader is the key relationship owner with Trust Point, our provider of trust services, and this leader collaborates closely with other Anchor business line leaders and staff to drive trust business goals.
Services are delivered from multiple locations with Anchor’s Twin Cities footprint. This position will work closely with the business banking, cash management, and personal banking business line leaders to drive cross-team sales results and enhance cross-team collaboration efforts.
Essential Duties and Responsibilities:
Leading, Managing and Holding People Accountable:
o Proactively inspires, motivates, develops, coaches and assesses performance.
o Determines talent needs; approves hiring decisions and terminations/reductions in force of staff. Leverages and/or partners with human resources to meet needs.
o Sets expectations/goals for Investments and Trust and holds sales staff accountable for results. Leads regularly scheduled sales meetings and regularly communicates to the entire team.
o Assists in developing the commission strategy and monitors the results to ensure alignment with Anchor’s overall strategic plans and operational objectives.
o Supports and actively participates in training and development design and delivery efforts to ensure staff has excellent sales and relationship management skills and understanding of products and compliance matters.
Growth and Profitability
o Has the overall responsibility for the growth and profitability of the Investments and Trust business lines. Focuses growth efforts on strategies aligned with Anchor’s marketing strategy.
o Manages performance against goals/budget to ensure revenue growth and cost management goals are met.
o Defines and implements ongoing prospecting strategies, holds sales team accountable for prospect development activities and identifies market opportunities.
o Acts as key relationship leader with Trust Point to facilitate the growth of the trust customer base and increase penetration of existing customers as well as prospects.
o Strengthens referral source network development through purposeful, proactive activities and events, in conjunction with Marketing.
o Partners with peer leaders and the business development team to strategize and collaborate on prospecting efforts.
o Responsible for driving cross-referral results with business banking, cash management, and personal banking.
o The area of primary responsibility includes 1) Investments and 2) the relationship with Trust Point. However, as a member of the sales and marketing leadership team, secondary responsibility includes: 3) cross sales of personal banking sales and services by partnering with head of personal banking, 4) cross sales of business banking by partnering with head of business banking, 5) cross sales of cash management services by partnering with head of cash management.
o Provides the strategic direction for sales and service delivery of Investments services. Partners with Trust Point for Trust Services.
§ Responsible for setting expectations to deepen relationships with Investments and Trust customers through developing new relationships, supporting relationship managers of key customers, and providing an exceptional customer experience.
§ Formulates and communicates tactics to support the strategic plans and expectations in areas of responsibility.
§ Responsible for developing a strong cross-referral environment between business banking, personal banking, and cash management and the leaders in those areas.
o Develops, implements and maintains a disciplined sales process focused on relationship management, profitability, growth and cost effectiveness. Identifies and capitalizes on trust and investment sales potential through execution of sales efforts.
o Draws on the talent of the entire team to meet the market/new business opportunities and the portfolio/customer demands of the accounts. Oversees the re-assignment of prospects and customers as needed to get the best person or best team working for the best outcome.
o Comprehensive sales management responsibilities for the Investments team with $300 million in assets under management (July 2012). Plus key Relationship with Trust Point for Trust Services. All are growing businesses with aggressive growth projections.
Cross- Team Collaboration
o While reporting through separate business lines, it is critically important that the business, personal, investment and trust and cash management teams as well as shared services create an atmosphere of teamwork and collaboration throughout Anchor. Demonstrates teaming by partnering with fellow leaders on initiatives and team recognition, participating in joint calling efforts, sharing best practices, providing cross-sell opportunities, open and honest dialogue, and other appropriate actions that support great results and excellent cross-team collaboration.
o Community presence continues to be critical to our business success while specific strategies vary between centers/markets. Provides the oversight and direction to ensure that the Trust and Investments team identifies an overall plan and tactical objectives for community and professional involvement.
Manage Business Partner Relationships
o Provides oversight to the partnership with LPL , our dealer/broker for Investments.
o Acts are key relationship owner with Trust Point, our trust provider. Strategizes with Director SAM and the leaders at Trust Point to build and implement sales plans and goals.
o Research, implement and manage all third party vendor relationships. Responsible for vendor selection. Review all sales and service agreements for legalities and compliance.
o Management reporting to the board and/or committees of the board
o Manages other business partner relationships with Centers of Influence including law firms, CPAs, etc.
Compliance Accountability and Risk Management:
o Monitor LPL's HOS program for compliance efficiencies in supervising all other brokerage related activities. Monitor all investment related activities for suitability and what is in the best interest of the client.
o Ensures strict adherence to compliance and administration policies and procedures and ensures that potential losses and operational risk issues are effectively identified and are within acceptable guidelines.
o Ensures all compliance and audit requirements are implemented and met.
o Provides supervisory compliance oversight on all advertising and sales literature. Ensures NASD approval on all such items.
o Responsible for strict adherence to all regulatory policies and procedures and oversight of audit activities, including internal and external (OCC and LPL). Effectively follow up, and implement auditor recommendations.
Performance Measurement includes :
* Investment revenue growth
* Trust Point referral / growth of revenue share
* Focused customer, prospect and centers of influence calling activities
* Strong prospecting strategy and deployment
* Profitability/Performance against budget
* Talent management and team leadership (i.e. engagement, retention, recruitment)
* Non-interest income
* Compliance / risk management practices including account reviews
* Teamwork/Collaboration with other business lines
* Exceptional relationship management
* Participation in bank initiatives and sharing of best practices with peers
* Community and professional involvement, as deemed appropriate
Education and Experience
· Bachelor’s degree with job-related advanced training, advanced degree and/or certifications.
· Twelve plus years of related investment experience required, trust experience desired, with progressively responsible leadership experience managing a multi-location, complex, growth-oriented, multi-discipline sales team desired.
· Deep industry knowledge of financial industry including sales leadership, relationship management, products, compliance, policies, and procedures.
· Demonstrated skills and success in investment and/or trust sales and relationship management.
· Required licensure: Series 7
· Preferred licensure: Series 24
· Clear CRD report
Leadership and Communication Skills
· Superior leadership skills required to inspire and motivate top performance.
· Excellent delegation and communication abilities to lead and manage teams through complex change situations.
· Strong project management and negotiation skills.
· Ability to communicate effectively across all organizational levels and business lines; also with external professionals.
· Strong and stable ethic standards for compliance
Reasoning and Mathematical Skills
· Strong critical thinking, problem solving, and mathematical skills required.
· Excellent planning, prioritization and time-management skills.
· Ability to oversee daily workflow and effectively multi-task.
· Ability to proactively identify areas for improvement and facilitate change.
· Ability to provide high levels of client service.
· Self motivated with a strong work ethic.
· Professional approach and commitment to success.
· Ability to handle high pressure situations
Anchor BanCorp Wisconsin Inc. is a savings and loan holding company. The Company is engaged in the savings and loan business through its...