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Asset Management Relationship Manager
Job Objective: The Asset Management Relationship Manager will serve as relationship manager for assigned accounts and handle the account administration within the terms of the governing document in accordance with bank policy and procedure and the needs of the principals, beneficiaries, and remaindermen. Represent the bank in business activities and contacts with clients, attorneys, accountants, and beneficiaries in the administration of accounts.
Job Duties: This position is responsible for supervising and administrating services performed on behalf of individuals or companies and developing and soliciting new or expanded client relationships. Demonstrates credibility and a comprehensive understanding of investor needs. Provides professional advice regarding financial issues. Possesses technical knowledge and maintains awareness of current and emerging practices related to the accounts under management. Provides recommendations to executive management in areas of service objectives, risk assessment, development of new business, account acceptance, discretionary distributions, and overall department direction and policy.
Essential Functions: 30% Administration and customer contact for accounts assigned (includes compliance review and supervision of real estate transactions) per the agreement, bank policy, and applicable laws, rules and regulations. 15% Conducts periodic reviews of client relationships where the company has investment discretion in coordination with the assigned Portfolio Manager. 15% Where StellarOne is named Administrator or Executor, sees that the estate is successfully managed through: probate, asset collection and inventory, beneficiary notification, estate tax filing and payment, distribution, account filing, and appropriate estate closing. 5% Prepares checklists and investment objective statements setting forth instructions to follow in handling new accounts. 5% Supervises preparation of all inventories and accountings for estates and court appointed Trusteeships for accounts assigned. 5% Reviews daily all transactions for accuracy and compliance with Bank Policy and Procedure. 5% Evaluates and prepares all discretionary encroachment requests. 10% Handles all correspondence in connection with and in regard to account matters. 5% Ensures that income and other tax returns are prepared and filed when due, including payroll reports. 5% Develops and solicits new and expanded client relationships for StellarOne Wealth Management and the bank in general. Meet with potential clients, ascertain needs, and work with potential clients to keep assets with StellarOne when possible after Estate settlement.
Performance Management: Documents employee performance throughout the work cycle. Provides timely and appropriate feedback/coaching as necessary. Plans for performance discussions, clarifies performance expectations, conducts performance reviews and recommends appropriate pay adjustments.
StellarOne in Action: Supports and practices StellarOne Core Values of Excellence, Partnership and Service and follows StellarOne in Action protocol.
Compliance: Performs assigned responsibilities in compliance with all job-relevant legal and regulatory requirements. Maintains current operating knowledge of all job-relevant legal and regulatory requirements through the successful completion of mandatory compliance and regulatory training and attendance at all mandatory regulatory compliance activities.
Non-Essential Functions: Performs other duties that may be assigned.
Education, Skills and Experience Required: This position requires a Bachelor of Science Degree or graduation from an accredited Trust School or 5-7 years hand-on experience as a Trust Officer or any similar combination of education and experience. This position desires but does not require a professional certification. This position requires an ability to communicate effectively with staff members and clients. This position requires a general understanding of economics, investment theory, investment types and investment strategy with a detailed knowledge of trust and estate law as well as income and estate taxation. A detailed knowledge of the use of personal computers, trust software and applications software is also required. This position also requires an ability to recognize client problems and an ability to respond to those problems with solutions that achieve client objectives and contributes to the profitability of StellarOne Wealth Management. This position requires an ability to supervise, train, and motivate staff members.
Special Requirements: Must have an ability to handle client complaints in an effective manner. ADA Specifications (Work Requirements). This position requires the ability to sit for extended periods of time and because of the use of personal computers the incumbent must have good manual dexterity; requires strong analytical abilities and an ability to handle multiple tasks simultaneously; and requires good human resource management skills and an ability to deal with clients.
