JOB DESCRIPTION
Title: VICE PRESIDENT
Function: Business Development Officer
Division: Salisbury Trust Wealth Advisory Services
Last Revision: March 2019
Reports To: SVP & Head of Trust Wealth Advisory Services
Status: Exempt
Grade: 9
OVERVIEW:
Under the general supervision of the Senior Vice President (SVP, Trust), performs a variety of duties relative to the business development of the Salisbury Trust and Wealth
Advisory Services Division in the assigned region. Markets investment, trust and other fiduciary services to prospective individual, business and not-for-profit clients. Develops relationships with sources of new business referrals, including bank personnel, attorneys, accountants and other professional advisors. This position does not independently function as a policy maker within the Bank.
PRIMARY ACCOUNTABILITIES AND RESPONSIBILITIES:
Performs a variety of duties relative to developing new business and promoting the investment and fiduciary services of the Division within the context of the Bank’s overall business development plan. Performs all duties in conformance with established Bank policies and procedures as well as prescribed regulatory compliance guidelines.
1. Develops and executes a business development plan to develop investment and trust business for the Division. Maintains lists of prospective clients gained from both internal and external sources.
2. Cultivates and maintains relationships with numerous sources of new business referrals, including branch personnel, commercial lenders, board members and outside professionals e.g. attorneys, accountants and insurance professionals.
3. Plans, organizes and schedules calling activities to promote the Division’s trust and investment services. Coordinates activities and identified opportunities for banking products with other bank personnel as appropriate, e.g. commercial lenders, mortgage advisors, branch managers.
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4. Participates in joint call programs with the SVP, and trust officers. Coordinates with SVP, Trust with respect to marketing materials, publications, advertising, publicity and events as it relates to trust and investment services.
5. Participates in seminars on estate planning, wealth management and related topics of interest to prospective clients. Follows up with interested prospect clients. Gains exposure through meetings to discuss investment and trust services with internal and external groups.
6. Promptly responds to prospective clients referred to the Division from internal or external sources. Focuses on separately managed accounts.
7. Meets with prospective clients to explain the Division’s trust and investment services. Analyzes prospect’s financial needs and risk tolerance. Prepares proposals for prospects.
8. Completes new account approval forms and obtains necessary Trust
Administration Committee (TAC) and Trust Investment Committee (TIC) approvals. Works with the assigned trust officer and client service associate to complete account agreements and related forms. Coordinates with the SVP,
Trust or designee as to the handling of the account and ensures an effective
“hand-off” from funding through to the initial months of the new account.
9. Maintains contact with clients brought to the Division to promote goodwill and develop additional business.
10. Is familiar with the investment strategies and styles of external investment managers used by Salisbury Trust for separately managed accounts.
11. Prepares weekly Client Relationship Management (CRM) reports concerning the status of new business (including a “pipeline” report) for management.
Provides an overview of business development opportunities and marketing issues at the monthly officers meetings.
12. Participates in various community, civic and professional activities to increase the visibility and positive image of the Bank. Represents the Bank at civic and community events as required.
13. Keeps abreast of industry developments with respect to wealth management in general, and trust and investment services in particular. Attends conferences and seminars as needed.
14. Develops plans for continuing education and business skill improvement.
15. Other duties as assigned.
16. Adhere to the Bank’s Core Values and Moments of Truth.
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SOX COMPLIANCE:
1. Comply with all SOX policies and procedures.
2. Assist managers with day-to-day compliance with internal and external controls.
3. Report any changes in internal controls over financial reporting to department manager or Executive Officer as they occur; ensure process flows and procedures are kept current with the practices of the department.
POSITION REQUIREMENTS:
A Bachelor’s degree is required. Additional education or related professional training is preferred. At least 5 years of work experience in the financial services/banking industry.
Strong working knowledge of investment, retirement plan and trust services, particularly for business owners. Demonstrated evidence of a sales and business development aptitude. Excellent interpersonal skills and a high level of personal integrity. Outstanding listening and presentation skills. Able to work in a team environment. Well organized with excellent planning skills. Achievement oriented with a strong work ethic. Proficient with Microsoft Word, PowerPoint and Excel.
ADDITIONAL QUALIFICATIONS:
Must be legally authorized to work in the United States. To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
SUPERVISORY SCOPE:
None
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Job Type: Full-time
Experience:
- Trust New Business: 5 years (Preferred)
Education:
- Bachelor’s (Required)
Location:
- Newburgh, NY (Required)
Additional Compensation:
- Commission
Work Location:
- Multiple locations
Benefits:
- Health insurance
- Dental insurance
- Vision insurance
- Retirement plan
- Paid time off
- Flexible schedule
- Professional development assistance
- Tuition reimbursement
This Company Describes Its Culture as:
- Stable — traditional, stable, strong processes
Schedule:
- Monday to Friday
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