SVP, Director of Wealth Management & Premier Banking

Cathay Bank•San Gabriel, CA

12d•$180,000 - $220,000

About The Position

GENERAL SUMMARY Review and recommend suitable third-party vendor to perform the Bank’s Wealth Management business. Direct and supervise the Bank’s Wealth Management related sales, operational, promotional activities. Review and recommend Wealth Management products line, design, and implement the Bank’s Wealth Management related referral, incentive, payout program for both branch staff and Financial Advisors. Develop the Bank’s Wealth Management strategic business plan. Ensures annual production and revenue objectives are met. DIRECT REPORTS The incumbent supervises the Financial Advisors and other Wealth Management staff. ESSENTIAL FUNCTIONS Develop, plan, and manage the Bank’s Wealth Management products and services through third party vendors. Develop bank-wide strategic plans for business development, Financial Advisor bench nurture, market segmentation, product introduction and sales expansion. Monitor sales activities and ensure that revenue goals are met. Through the direct and indirect supervision of the Financial Advisors, promote Wealth Management business in accordance with the Bank’s business development plan and objectives. Direct key business promotional opportunities. Design, implement, and direct the referral program to increase business through the Bank’s branch network. Recommend and implement the commission program for Financial Advisors to motivate sales of wealth management products. Effectively work with District Administrators and Branch Managers to jointly promote the Bank’s Wealth Management sales activities. Mentor, coach, and develop skillsets of all staff in the department through a combination of goal setting, delegation, training, counseling, and performance management. Recommend hire, transfer, termination, salary adjustment and performance evaluation within the department, except for the Brokerage Operations/Compliance Officer position.

Requirements

Bachelor or above degree in business-related discipline preferred but not required.
Minimum 10 years of experience in wealth management including at least 5 years of experience in a supervisory capacity in banking industry or similar financial institution.
Excellent knowledge of securities, insurances, mutual funds, annuities and other Wealth Management related products.
Current knowledge of federal, state and FINRA regulatory laws pertaining to wealth management, excellent managerial skills, ability to lead a large team in different locations, excellent business development and interpersonal skills, excellent verbal and written communication skills.

Nice To Haves

Bilingual Mandarin or Cantonese preferred but not required.
Series 7, 24, 63 or 65, or 66, and Life Insurance license preferred but not required.

Responsibilities

Review and recommend suitable third-party vendor to perform the Bank’s Wealth Management business.
Direct and supervise the Bank’s Wealth Management related sales, operational, promotional activities.
Review and recommend Wealth Management products line, design, and implement the Bank’s Wealth Management related referral, incentive, payout program for both branch staff and Financial Advisors.
Develop the Bank’s Wealth Management strategic business plan.
Ensures annual production and revenue objectives are met.
Develop, plan, and manage the Bank’s Wealth Management products and services through third party vendors.
Develop bank-wide strategic plans for business development, Financial Advisor bench nurture, market segmentation, product introduction and sales expansion.
Monitor sales activities and ensure that revenue goals are met.
Through the direct and indirect supervision of the Financial Advisors, promote Wealth Management business in accordance with the Bank’s business development plan and objectives.
Direct key business promotional opportunities.
Design, implement, and direct the referral program to increase business through the Bank’s branch network.
Recommend and implement the commission program for Financial Advisors to motivate sales of wealth management products.
Effectively work with District Administrators and Branch Managers to jointly promote the Bank’s Wealth Management sales activities.
Mentor, coach, and develop skillsets of all staff in the department through a combination of goal setting, delegation, training, counseling, and performance management.
Recommend hire, transfer, termination, salary adjustment and performance evaluation within the department, except for the Brokerage Operations/Compliance Officer position.