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Managing Director, Wealth Management

Job Description

The Managing Director, Wealth Management, will lead Northwest Bank's Wealth Management business comprised of Retail Investments, Trust and Fiduciary Services, Estate Planning, Retirement Services, and Portfolio Management. In this highly visible and critical role, the Managing Director will be responsible for establishing a long-term growth strategy, building an effective and collaborative wealth coverage model across our Markets in Pennsylvania, New York, Ohio, and Indiana, accelerating revenue through new relationship acquisition and cross-sell into the Bank's existing customer base, and creating a financial wellness eco system utilizing both physical and digital capabilities.  In leading our Wealth Management division, this position will ensure we create and champion a competitive brand in alignment with the organizations culture and customer experience vision. In managing the business, ensure we execute with financial, legal, and compliance soundness while serving the best interest of our clients, stakeholders, and communities.  Lead all aspects of the Wealth management business across sales, asset management, service, and operations.

Essential Functions
•    Provide vision and executive leadership for Wealth Management business with full P&L responsibility
•    Lead a team responsible for driving net new asset growth across affluent client segments inclusive of financial advisors, wealth relationship managers, trust development officers, and private bankers
•    Manage trust and investment operations, client servicing, portfolio management, estate planning, and custodial responsibilities
•    Establish long-term strategic plan and associated annual budget for overall Wealth Management business; identify efficiencies and revenue growth opportunities in support of overall corporate financial goals
•    Onboard, develop, and manage highly skilled sales and support talent to achieve established objectives
•    Build effective cross collaboration between business units and support partners
•    Manage, partner, and negotiate with external service providers to ensure we provide the best customer experience while serving client financial wellness needs
•    Lead preparation and response to regulatory information requests, examinations, and audits
•    Possess an understanding of investment management operations and team-based solution delivery across investments and banking
•    Build and/or realign, and direct an effective sales and service coverage model across the financial center network
•    Effectively create an ecosystem that supports bank referrals, client right channeling, and cross-sell
•    Manage product development to ensure prospects and clients have access to a highly competitive offering
•    Using an existing knowledge of digital solutions in Wealth Management, work with external vendors to optimize client experiences and advice delivery
•    Craft and drive strategies to aggressively grow assets under management and increase profitability
•    Create and manage effective incentive and referral programs to drive sales and client growth
 
Additional Essential Functions
•    Ensure compliance with Northwest’s policies and procedures, and Federal/State regulations
•    Navigate Microsoft Office Software, computer applications, and software specific to the department in order to maximize technology tools and gain efficiency
•    Work as part of a team
•    Work with on-site equipment
 
Additional Responsibilities
•    Cross-Functional Collaboration:
•    The role will work closely with teams across the organization, including:
•       Consumer and Commercial Bank
•       Legal, Compliance, and Risk Management
•       Executive Leadership Team
•       Marketing
•       Technology
•       Internal Communications
•       External partners
 
Safety and Health for Supervisors with Direct Reports
•    Provide leadership and positive direction for maintaining the safety and loss prevention program
•    Actively participate in and support employee participation in the safety and loss prevention program by ensuring that employees know how to properly report a safety issue, making sure that all accidents are promptly reported to Human Resources and documented, and ensuring that prompt action is taken whenever workplace hazards are identified
•    Help implement emergency procedures
 
QUALIFICATIONS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
 
Required Education
  
Bachelor's Degree and Master's Degree     
    
Required Work Experience
  
More than 15 years Leading Wealth Management, Retail Investments, and/or  Trust/Fiduciary business    
More than 15 years Managing Wealth Management or Financial Advisor teams        
More than 15 years Managing incentive-based sales teams            
 
Executive Knowledge, Skills, and Abilities
        
•    Ability to develop and implement an organizational vision which integrates key strategic goals, priorities, values, and other factors  
•    Ability to balance change and continuity – to continually strive to improve customer service and program performance, to create a work environment that encourages creative thinking, and to maintain focus, intensity and persistence, even under adversity  
•    Ability to design and implement strategies which maximize employee potential and foster high ethical standards in meeting the Northwest’s vision, mission, and goals  
•    Ability to make timely and effective decisions and produce results through strategic planning and the implementation and evaluation of programs and policies.    

•    Ability to acquire and administer human, financial, material, and information resources in a manner which instills public trust and accomplishes Northwest’s mission, and to use new technology to enhance decision making.    
•    Ability to explain, advocate and express facts and ideas in a convincing manner, and negotiate with individuals and groups internally and externally.    
•    Ability to develop an expansive professional network with other organizations    
•    Knowledge of key national and industry policies and economic, political, and social trends that affect Northwest; Understands near-term and long-range plans and determines how best to be positioned to achieve a competitive business advantage    
 
Additional Knowledge, Skills and Abilities

-Possess excellent project management and cross-functional collaboration skills by working closely with teams across the organization, including Consumer and Commercial Bank, Legal, Compliance, and Risk Management, Executive Leadership Team, Marketing, Technology, Internal Communications, and external partners  
-Strong communication and presentation skills, specifically with executive level leadership  
                      
 
Travel Requirements:
Frequently  - Across the bank footprint, approximately 20-30% of time

Northwest is an equal opportunity employer. We are committed to creating an inclusive environment for all employees.

Average salary estimate

$175000 / YEARLY (est.)
min
max
$150000K
$200000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Managing Director, Wealth Management, PT Northwest

Are you ready to take on a key leadership role at Northwest Bank as the Managing Director of Wealth Management in Columbus, OH? This is the perfect opportunity for you if you have a passion for driving growth in Wealth Management through innovative strategies and teamwork. You’ll be leading a dynamic business unit that includes Retail Investments, Trust and Fiduciary Services, and more. In this pivotal position, your responsibilities will span from crafting long-term growth strategies to accelerating revenue through new relationships while ensuring top-notch financial wellness for clients. You’ll be collaborating with various teams across our expansive footprint in Pennsylvania, New York, Ohio, and Indiana, ensuring we provide a premium experience to our affluent clients. With full P&L responsibility, you'll identify revenue growth opportunities, onboard talented professionals, and foster a collaborative culture that aligns with Northwest Bank's vision. The role also involves ensuring compliance with legal and financial standards, creating a competitive brand, and crafting an effective ecosystem for client interactions. If you have the necessary years of experience leading Wealth Management, along with a solid background in managing teams and driving performance, we want to hear from you. Join Northwest Bank to lead a dedicated team that focuses on exceptional customer service and innovative solutions in Wealth Management!

Frequently Asked Questions (FAQs) for Managing Director, Wealth Management Role at PT Northwest
What are the primary responsibilities of the Managing Director, Wealth Management at Northwest Bank?

The Managing Director, Wealth Management at Northwest Bank leads the Wealth Management business, overseeing Retail Investments, Trust and Fiduciary Services, among others. This role entails establishing growth strategies, accelerating revenue, managing P&L, and ensuring compliance with legal and financial standards while also fostering a collaborative workplace culture.

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What qualifications are required for the Managing Director position at Northwest Bank?

Candidates for the Managing Director, Wealth Management position at Northwest Bank should ideally have a Bachelor's and Master's degree, along with over 15 years of experience in leading Wealth Management, managing financial advisor teams, and driving incentive-based sales teams.

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How does the Managing Director, Wealth Management at Northwest Bank ensure a competitive brand?

The Managing Director, Wealth Management is tasked with crafting and championing a competitive brand at Northwest Bank. This involves aligning the business strategies with the organization's culture and customer experience vision while leveraging both physical and digital capabilities to enhance client interactions.

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What is the importance of compliance for the Managing Director, Wealth Management at Northwest Bank?

Compliance is crucial for the Managing Director, Wealth Management at Northwest Bank. The role requires navigating legal standards and ensuring that all aspects of the Wealth Management business operate within regulatory frameworks, thereby protecting clients and positioning the bank favorably in the market.

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What kind of leadership is expected from the Managing Director, Wealth Management at Northwest Bank?

The Managing Director, Wealth Management at Northwest Bank is expected to provide a strong vision and executive leadership. This includes effectively managing a diverse team, driving net asset growth, building collaborative cross-functional relationships, and cultivating an environment that encourages team members to excel in their roles.

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Common Interview Questions for Managing Director, Wealth Management
How do you plan to develop a long-term growth strategy for Wealth Management at Northwest Bank?

Discuss how you'll conduct market analysis, leverage existing relationships, and implement innovative solutions to drive business growth while also providing examples of past success in developing and executing similar strategies.

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Can you share your approach to building and managing a high-performing team?

Highlight your philosophy on recruiting, developing talent, and fostering an inclusive culture. It's beneficial to provide specific examples of team successes you've led or been a part of in your previous roles.

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What methods do you use to measure the success of Wealth Management services?

Mention key performance indicators (KPIs) such as asset growth, client retention, satisfaction scores, and revenue generation. Discuss how you have utilized data analytics to refine strategies in your past roles.

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How would you approach cross-selling services at Northwest Bank?

Explain your strategy for identifying client needs and effectively presenting relevant services. Share experiences where you successfully integrated cross-selling into previous roles to enhance client satisfaction and increase revenue.

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Describe a time you navigated a regulatory challenge in Wealth Management.

Provide a scenario where you successfully managed regulatory requirements, detailing your strategy for compliance, communication with stakeholders, and resolution of the challenge faced.

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What do you believe sets Northwest Bank's Wealth Management apart from competitors?

Discuss your observations of Northwest Bank's unique offerings, cultural values, and how you plan to enhance or maintain that competitive advantage.

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How do you stay informed about industry trends affecting Wealth Management?

Share your methods for staying updated, such as attending industry conferences, engaging with professional networks, and reading relevant publications. Explain how this knowledge influences your strategic decisions.

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What experience do you have with digital solutions in Wealth Management?

Discuss your familiarity with digital tools and platforms in Wealth Management, sharing examples of how you've utilized technology to improve client interactions and operational efficiency.

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How would you create a culture of compliance within your team?

Elaborate on how you plan to instill compliance-focused practices in your team, highlighting training, open communication, and accountability measures you would implement.

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What strategies would you implement to promote financial wellness among clients?

Discuss innovative approaches to enhancing client education and financial literacy. Share past initiatives you've led that contributed to financial wellness and client engagement.

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Transparent & Candid
Growth & Learning
Fast-Paced
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Customer-Centric
Reward & Recognition
Feedback Forward
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Medical Insurance
Paid Time-Off
Maternity Leave
Mental Health Resources
Equity
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Snacks
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Pet Friendly
Company Retreats
Dental Insurance
Life insurance
Health Savings Account (HSA)
MATCH
VIEW MATCH
FUNDING
DEPARTMENTS
SENIORITY LEVEL REQUIREMENT
TEAM SIZE
No info
EMPLOYMENT TYPE
Full-time, on-site
DATE POSTED
April 20, 2025

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