Managing Director, Family Wealth Services

Fifth Third Bank; Cincinnati (OH); Remote; USD 152,000 - 327,000; Full time

Job summary

A leading bank is seeking a Managing Director for Family Wealth Services to enhance client service delivery and lead the Family Wealth strategy. This role requires extensive experience in wealth management and strong leadership skills. The successful candidate will collaborate with various teams to optimize offerings and ensure compliance with risk policies. Join a dynamic team focused on delivering exceptional client experiences and driving growth in the Family Wealth segment.

Qualifications

• 15+ years of Wealth Management client facing leadership experience.
• Deep understanding of Tax, Trust & Estate Planning.

Responsibilities

• Lead development and integration of Family Wealth Strategy.
• Enhance Client Service Delivery model for Wealth Management Advisors.
• Collaborate with teams to implement software solutions.

Skills

Leadership

Communication

Problem Solving

Education

Bachelor’s degree

Masters in Tax/Finance or JD

Job description

Managing Director, Family Wealth Services

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Managing Director, Family Wealth Services

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General Function

The Managing Director, Family Wealth Services leads the development and integration of the Family Wealth Strategy for the Private Bank. This role identifies internal and external partners to drive the successful growth and execution of the Family Wealth offering.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Essential Responsibilities

• Enhance Client Service Delivery model for segment by ensuring a clearly articulated offering that provides enhanced services for our Wealth Management Advisors (WMAs) to leverage for Family Wealth Clients and prospects.
• Collaborate with an Industry Gold Standard Aggregated Reporting Vendor, internal technology teams, and portfolio management teams to implement, appropriately price, and optimize software solutions.
• Lead and implement the rollout of the Family Wealth offering across relevant business lines and leadership teams to identify and convert pipeline prospects.
• Manage and support pipeline development to drive segment growth.
• Create and maintain ongoing education and training for WMA service execution.
• Leverage Family Governance team members to create content, pricing models, and execution strategies.
• Partner with Private Bank Investments Leadership to identify Senior Investment Advisors (SIAs) for segment.
• Collaborate with Wealth Strategy to identify appropriate Wealth Strategists for client service.
• Work with Regional Managing Directors (MDs) to identify appropriate WMAs to offer services.
• Coordinate with Alternative Investments team to ensure appropriate offering for segment.
• Develop a cash management strategy between Commercial and Private Banking Accounts in partnership with Commercial Payments.
• Partner with Private Banking team to identify and execute enhanced credit solutions within existing credit guidelines.
• Partner with Trust and Fiduciary Services to ensure appropriate offering is provided.
• Identify and implement third party bill pay service.
• Integrate and enhance Private Bank Philanthropic planning services.
• Partner with Private Bank teams (i.e. Wealth Planning, Business Transition Advisory Team) to create and distribute thought leadership.
• Develop and implement a Next Gen program and educational coursework.
• Work with Marketing to host unique client experiences and to build market awareness.
• Collaborate with Fiduciary Services to identify appropriate Asset Protection/Jurisdictional Selection.
• Partner with Finance to develop appropriate client pricing model and potential a la carte offerings including a potential flat fee offering.
• Align with business lines and BTAT to manage AUM growth goals for the Family Wealth segment.
• Utilize WealthBox for client reporting and tracking.
• Identify, develop, and implement additional processes to grow Family Wealth segment.

Supervisory Responsibilities

Providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential by providing challenging opportunities; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.

Minimum Experience, Skills And Abilities

• Bachelor’s degree required; Masters in Tax/Finance or JD preferred
• 15+ years of Wealth Management, Family Wealth ($25M+ AUM) client facing leadership experience
• Deep understanding of Tax, Trust & Estate Planning
• Exhibits a sense of urgency and a continual drive to results coupled with an ability to partner effectively with management at all organizational levels.
• Supports a proven track record of successfully collaborating with and influencing management and peers to support growth and financial results.
• Demonstrates superior interpersonal negotiation, verbal and written communication and presentation skills.
• Uses effective leadership, problem solving and analytic skills.
• Self-starter with ability to manage competing priorities.
• Travel required 45%

Working Conditions

• Normal office environment
• Extending viewing of computer screens.

Managing Director, Family Wealth Services
Total Base Pay Range 152,100.00 - 327,000.00 USD Annual

LOCATION -- Virtual, Ohio 00000

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.