Virtual Private Banking Specialist

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Global Wealth Management/Morgan Stanley Wealth Management (MSWM), and Asset Management. MSWM 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 (“Virtual Private Banking Specialist” or “VPBS”) to join our National Sales Team in the Private Banking Group. The Associate Private Banker will provide product and service support for the E*TRADE financial advisors and their clients.

Position Responsibilities

• Act as subject matter expert for FA and Branch inbound inquires or facilitate referral for resolution to the subject matter expert
• Act independently in making financial recommendations on banking and lending products to the FAs
• Provide the best banking and lending financial advice to clients in conjunction with FAs
• Partner with assigned Private Banker providing direct and backup support as necessary
• Establish a reputation of execution and excellence to gain confidence of FAs and Private Bankers to fully develop the banking opportunities with their
  
  

clients

• Assist in developing and implementing marketing campaigns. Proactively make outbound calls to FAs
• Adhere to established distribution process to realize established revenue, product and FA / client satisfaction goals, consistent with providing sound
  
  

financial banking and lending advice

• Develop and maintain adequate marketing pipeline to meet revenue targets. Maintain pipeline reports on an ongoing basis
• Gather client information to facilitate a streamlined account opening process including completion of loan applications and collection of information
  
  

required to make credit decisions

• Collaborate with Region Manager on initiatives supporting the region
• Ensure a coordinated business development and service process with product partners. Manage FA expectations throughout relationship and service
  
  

cycle

• Provide product feedback to product managers to generate FA productivity improvements and product enhancements
• Communicate new product and policy enhancements to FAs and branch staff
• Work with and communicate effectively with Financial Advisors, Branch Managers & staff, Private Bankers & Product partners
  
  

Experience

• Minimum of 3 years’ experience with an investment, commercial or private bank
• 2 years of client service, business development and/or Sales Desk experience
• Experience in understanding the financial needs of all types of clients
• Bachelor’s degree preferred, or relevant work experience
• Series 7 and 63 licenses required, or to be obtained within 90 days of employment
  
  

Skills/Abilities

• Strong knowledge of banking and lending products including bank deposits, certificates of deposits, credit cards, residential mortgage products, home equity lines of credit, securities based loans, high net worth tailored lending products & commercial credit products
• Excellent verbal and written communication skills
• Possess excellent relationship building, business development and service skills and have the desire and drive to consistently achieve top quartile results
• Ability to understand the financial needs of the retail brokerage clientele
• Maintain poise, presence and professionalism with FAs and their affluent clients in the most difficult circumstances
• Software proficiency (e.g., Word, Excel, PowerPoint)
• Demonstrate positive initiative, leadership and comfort working in a fast paced environment
• Strong interpersonal collaboration and team skills including working with cross- functional teams
  
  

Expected base pay rates for the role will be between $70,000 and $100,000 per year at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

• Expanded legislation requires that roles that sit in other state locations, but report to a manager in NY, must have the above language included in postings with the pay scale reflective appropriately to the location where the role will be sitting.
  
  

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet)

Posting Date

Jun 10, 2024

Primary Location

Americas-United States of America-New York-Purchase

Education Level

Bachelor's Degree

Job

Private Banking

Employment Type

Full Time

Job Level

Associate

Salary : $70,000 - $100,000