What are the responsibilities and job description for the PRIVATE BANKER position at City National Bank?
Overview : PRIVATE BANKER
WHAT IS THE OPPORTUNITY?
Develops and manages client relationships with high- net- worth and ultra-high-net-worth individuals and families within a specific market. Provide integrated financial services advice to these clients including : banking, credit, asset management, trust and estate planning, and brokerage. Manages overall relationship profitability and portfolio risk and is responsible for profitable growth of the portfolio. May serve as a segment or industry specialist acting as a technical consultant to clients and colleagues in various business segments and geographic locations. Must be in good standing under The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (Safe Act) and must be registered / licensed with the Nationwide Mortgage Licensing System and Registry; or must be able to be registered under the Safe Act. Must remain in good standing under the Safe Act.
What you will do
- Develop new relationships externally through referrals from clients and Center of Influences, personal community involvement, and from internal partners.
- Profile across the full spectrum of the needs of PB target segments and provide tailored advice in collaboration with the client team. Utilize planning capabilities and develop solutions across investments, trust and wealth transfer, credit, deposit, and all other appropriate services.
- Utilize, include, coordinate and lead CNB team to develop new business including leading pre-brief and de-brief meetings.
- Identify additional opportunities from existing clients and leverage all resources and other colleagues to successfully become the clients lead or sole provider.
- Manage relationships by leading the client team in planning, delivery, and regular review with clients. Deliver a high degree of personal contact and open communication among clients and internal team that creates a superior client experience. Proactively communicate with clients about current conditions in the financial markets and necessary adjustments to their investment strategies and holdings consistent with CNB perspectives. Ensure full client team is coordinated on communication.
- Analyze financial needs of clients and monitor their ongoing financial and personal circumstances to make adjustments or take action accordingly.
- Ensure that relationship plans have been developed and are implemented.
- Work with the Client Manager and rest of client team to ensure preparation of all presentation and review materials.
- Ensure that clients current goals, risk tolerance, and constraints are reflected in the IPS for managed investments.
- Ensure that regular, tailored investment and relationships reviews occur between client team and client.
- For those colleagues with FINRA Licenses, review asset management and CNS Brokerage statements with clients. Partner with City National Securities (CNS) Investment Officer (IO) to communicate with clients about current conditions in the financial markets, investment alternatives, asset allocation and review asset management and brokerage account statements with clients. Discuss changes to strategies with the CNS IO.
- Keep current on clients financial information while ensuring that clients understand the solutions being provided (including terms and conditions for any and all credit facilities).
- Communicate in a timely and proactive manner with clients and with all risk areas, especially the Credit Team where there is a borrowing relationship.
- Maintain all appropriate training and continuing
Must-Have
Skills and Knowledge
Compensation
Starting base salary : $127,626 - $237,014 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and / or commissions.
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks .
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL
We start with a basic premise : Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North Americas leading diversified financial services companies.
Salary : $127,626 - $237,014
