Private Banker
Employment Type : Full-Time
Private Banker Job Number:
3163879
POSTING DATE: Jan 21, 2021 PRIMARY LOCATION: Americas-United States of America-California-Sacramento EDUCATION LEVEL: Bachelor's Degree JOB: Private Banking EMPLOYMENT TYPE: Full Time JOB LEVEL: Vice President DESCRIPTION
Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management, and Asset Management. Wealth Management provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit & lending, deposits & cash management, annuities, insurance, retirement and trust services.
We are seeking a high potential candidate (Private Bankers” or “PB”) to consider the financial needs of the client and recommend private banking products to MSWM’s FAs and their clients. Private Bankers will be assigned to a single high opportunity office, two offices or multiple offices in a Region.
Job Description/Position Responsibilities
- Partner with FAs to provide the best financial advice on private banking
products to clients
- Build product awareness and understanding among Financial Advisors, with
emphasis on the high opportunity FAs
- Partner with Financial Advisors to profile their client base, identify and analyze
business opportunities and succeed in growing new banking revenue
- Act independently in making financial recommendations on private banking
products to the client
- Provide the best private banking financial advice to clients in conjunction with
FAs
- Build, promote, market and maintain an adequate pipeline of opportunities to
meet private banking revenue goals
- Establish a reputation of execution and excellence. Gain confidence of FAs to
fully develop the banking opportunities with their clients
- Develop and present creative and intelligent solutions and advise in structuring
client transactions or offer constructive alternatives
- Partner with the Associate Private Banker(s) in the Private Bank Contact
Center to provide FA and client private banking product, distribution and
service support
- Act as the subject matter expert for all FA and Branch inquires on private
banking products and client service offering direct or indirect solutions
- Understand competitive environment and develop strategies to retain and win
new business
- Develop and implement product marketing strategies with Branch
Management and FA team, consistent with providing sound financial private
banking advice
- Work with and communicate effectively with Financial Advisors, Branch
Managers, Branch staff and Product partners
Qualifications - ExternalQualifications:
- Minimum of 7 years of successful lending business development experience
with an investment, commercial or private bank
- Expert knowledge of credit products including credit cards, residential
mortgage products, home equity lines of credit, securities based loans, high
net worth tailored lending products and commercial credit facilities
- Experience in understanding the financial needs of all types of clients
- Proven new business development / origination experience with Lending
products is required
- Completion of formal credit training strongly preferred
- Bachelor’s degree preferred or relevant experience
- SIE, Series 7, and Series 63 or 66 licenses required or to be obtained within 90 days of employment start date
QUALIFICATIONS
Skills/Abilities:
- Strong relationship building capabilities with Financial Advisors, Branch
Managers, Clients, Product Specialists and matrix partners
- Strong understanding of the suite of all Banking & Lending products including
deposit and cash management products
- Ability to understand the financial needs of the retail brokerage clientele.
- Ability to efficiently, tactfully & professionally screen, manage and/or decline
transactions while maintaining FA and client relationships
- Possess excellent business development and marketing skills and desire to
consistently achieve top revenue results
- Maintain poise, presence and professionalism with FAs and their affluent
clients in the most difficult circumstances
- Demonstrate positive initiative, leadership and comfort working in a fast paced
environment
- Detail orientation with strong organizational and analytical skills
- Ability to train Financial Advisors on product suite
- Possess excellent oral and written communication skills
- Exceptional presentation skills
- Ability to meet deadlines and manage Financial Advisor and client
expectations
- Good collaboration skills in a team-oriented environment