Head of Private Bank

M&T Bank • New York, NY

2d • $230,600 - $428,200 • Onsite

About The Position

Responsible for overall leadership of the Private Banking business in serving as the bridge between the Commercial Bank and Wealth Advisory Services to meet personal banking needs of our shared clients. This role manages the Company’s Private Banking business, focusing on meeting the unique financial needs of high net worth customers while growing net interest and fee income through managed teams of Private Banking staff. The Head of Private Bank is responsible for managing the annual budget, establishing a vision and setting goals for the business to ensure the team achieves desired outcomes. This includes developing and managing client relationships through teams of Private Banking Relationship Managers, establishing and managing the sales process, and maintaining currency of competitive private banking product trends. The role also involves working with other areas of the Bank to ensure requisite support for products, operations, and client service infrastructure, as well as collaborating with Marketing on promotional campaigns. Additionally, the position oversees training and development, succession planning, and represents the Bank in civic and community activities. The Head of Private Bank exercises managerial authority concerning staffing, performance appraisals, promotions, salary recommendations, performance management, and terminations. A key aspect of the role is understanding and adhering to the Company’s risk and regulatory standards, policies, and controls, and designing, implementing, maintaining, and enhancing internal controls to mitigate risk. The role also promotes an environment that supports belonging and reflects the M&T Bank brand, and maintains M&T internal control standards.

Requirements

• Bachelor’s degree and a minimum of 15 years’ experience leading a private banking department or related department with deep expertise in retail and commercial loan origination and underwriting and knowledge of sophisticated retail, commercial and investment products, or in lieu of a degree a combined minimum of 19 years’ higher education and/or work experience, including a minimum of 15 years’ experience leading a private banking department or related department with deep expertise in retail and commercial loan origination and underwriting and knowledge of sophisticated retail, commercial and investment products
• Minimum of 6 years’ sales management experience, with proven track record of sales achievement
• Significant supervisory and/or mentoring experience
• Deep knowledge of banking credit principals and underwriting complex credit transactions
• Excellent verbal and written communication skills
• Outstanding interpersonal skills
• Strong relationship management skills

Nice To Haves

• Masters’ degree in Business Administration (MBA)
• Certified Financial Planner (CFP), Certified Public Accounting (CPA) or similar designation

Responsibilities

• Manage the Company’s Private Banking business in meeting the unique financial needs of high net worth customers while growing net interest and fee income through managed teams of Private Banking staff.
• Manage the annual budget for the business.
• Establish a vision and set goals for the business ensuring the team achieves the desired outcomes.
• Develop and manage client relationships through teams of Private Banking Relationship Managers in providing customers individualized financial solutions that meet their unique needs.
• Establish and manage the sales process for the teams of Private Bankers directly and through the Private Banking leadership team to ensure a consistent and professional approach with clients, while maintaining compliance with applicable regulations.
• Maintain currency of competitive private banking product trends and options to ensure the development and enhancement of products needed to stay competitive and maximize growth.
• Ensure these products are priced competitively, while yielding appropriate profit targets.
• Work with other areas within the Bank to ensure the requisite support for products, operations and client service infrastructure that supports the unique demands of highly sophisticated Private Banking clients.
• Work with Marketing to produce appropriate marketing materials, client mailings and promotional campaigns to support successful growth of the business.
• Oversee all training and development within the Private Banking, including succession planning and building bench strength within the group.
• Represent the Bank in civic and community activities to enhance the Company’s image, while seeking opportunities to attract new clients and expand existing relationship.
• Exercise usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations.
• Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite.
• Design, implement, maintain and enhance internal controls to mitigate risk on an ongoing basis.
• Identify risk-related issues needing escalation to management.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Benefits

• The pay range for this position is $230,600.00 - $428,200.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager