Director of Financial & Insurance Services

Description

SUMMARY

The Director of Financial & Insurance Services is responsible for and manages the Wealth Management, Trust, Investments Departments at the Bank, and Lone Star Insurance Services, Inc. a separately owned independent insurance agency, (LSIS) (collectively call units). The Director of Financial & Insurance Services is responsible for the sales and operations & management of each unit. Primary focus on increasing sales, production, and profitability of the three units.

ESSENTIAL DUTIES

The duties listed below may not include all responsibilities that the person in this role may be asked to perform. Incumbent may be required to perform other related duties as assigned.

• Responsible for (& enhancing) the operational, managerial, and administrative procedures, reporting structures, and overall internal controls
• Work directly with the leadership team of each unit, to drive operational excellence, enhance the business model, and help the business manage risk as it grows
• Responsible for training managers in increasing revenue, market share, customer penetration and retention
• Evaluate existing LPL, and LSIS contracts and partnerships, recommending enhancements and changes as needed
• Coach Wealth Management and Licensed Financial Advisors, and LSIS producers
• Design compensation plans that are modeled for revenue growth and more incentives based on performance
• Design territories for Financial Advisors to be successful and set up business for growth and better penetration of clients
• Cultivates relationships with other Bank, Advisory & Board professionals to promote the WM, Trusts, Retail Investments and LSIS units within the Rio Grande Valley and San Antonio
• Participates in the strategic planning process for the business development in the Wealth Management, Investment and LSIS units
• Participates and presents in Bank committees as assigned
• Manages the hiring, daily activities, coaching, evaluating and discipling of reporting staff
• Maintains current knowledge of internal risk controls and loss prevention, including reporting of suspicious or unusual customer activity per Bank policy, and, if supervisor, ensures adherence by the respective department personnel
• Maintains current knowledge and complies with all federal and state laws and regulations and all established Bank policies and procedures, including internal audit controls related to department operations, and, if supervisor, ensures adherence by the respective department personnel
• Maintains current knowledge of all rules, regulations, and laws as they apply to BSA/OFAC/USA Patriot Act/CIP/AML, and, if supervisor, ensures adherence by the respective department personnel
• Interfaces with Regulators concerning units

Qualifications

These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.

• Bachelor’s degree (equivalent experience in financial planning/analysis and/or sales and operations may be substituted for college degree)
• Ten plus years of commercial banking and wealth management/business development experience
• Licensure in Property/Casualty and/or Life/Health Insurance current and in good standing
• FINRA Licenses, Series 24, Series 51, Series 6 or Series 7, Series 63 all current and in good standing
• Strong managerial skills, critical thinking skills and the ability to make sound financial decisions
• Good customer service, professional attitude, sales aptitude with organizational, interpersonal, and verbal communication skills
• Mindfulness, diligent, trustworthy with a high degree of mental concentration with an ability to multitask
• Bilingual in English and Spanish is desired

ORGANIZATION

• This position reports to the Chief Financial Officer (Bancshares)
• This position is responsible for and manages, the Director of Wealth Management, Insurance Agency General Manager, and Investments Brokerage Manager

TRAINING REQUIREMENTS

All employees are required to attend scheduled mandatory trainings and complete online regulatory compliance training courses applicable to their specific job function. In all situations, employees must ensure that their actions fully comply with all federal banking laws and regulations, including internal bank policies and procedures. Failure to adhere to these requirements will be grounds for disciplinary action, including probation and possible termination.

COMMUNITY INVOLVEMENT

Lone Star National Bank’s Mission Statement includes a commitment to helping our communities grow by serving them with pride and integrity.  All employees are encouraged to volunteer for bank sponsored activities, civic, charitable and community events and to be active in the communities we serve.

LSNB is an Equal Opportunity/Affirmative Action Employer and does not discriminate in the recruitment, hiring, and conditions of employment on the basis of race, color, religion, national origin, sex (including pregnancy), sexual orientation, gender identity, marital status, disability, age, veteran status, or any other status as protected by applicable laws.

Management reserves the right to change this position description at any time according to business needs.