Private Banker

Morgan Stanley; Arlington Heights (IL); On-site; USD 120,000 - 210,000; Full time

Job summary

Morgan Stanley in Arlington Heights seeks a Private Banker to join the Private Banking Group. The Private Banker will partner with Financial Advisors to provide cash management and lending solutions, build product awareness, profile client bases, and grow revenue through a strong pipeline.

Qualified candidates have at least 7 years of lending business development experience with a bank, a deep knowledge of credit products, and a proven ability to originate new business.

Qualifications

• Minimum of 7 years of successful lending business development experience with an investment, commercial or private bank.
• Expert knowledge of credit products including credit cards, residential mortgage products, home equity lines of credit, securities-based loans, high net worth tailored lending products and commercial credit facilities
• Experience in understanding the financial needs of all types of clients
• Proven new business development / origination experience with Lending products is required
• Completion of formal credit training strongly preferred
• Bachelor’s degree preferred or relevant experience

Responsibilities

• Partner with FAs to provide advice and potential cash management and lending solutions to clients
• Build product awareness and understanding among Financial Advisors
• Partner with Financial Advisors to profile their client base, identify and analyze business opportunities and succeed in growing new cash management and lending revenue
• Build, promote and maintain adequate pipeline of opportunities to meet all Private Banking targets, including, but not limited to production, balances, revenue, Advisor participation, units, etc.
• Establish a reputation of execution and excellence. Gain confidence of FAs to fully develop the cash management and lending opportunities with their clients
• Develop and present creative and intelligent solutions and advise in structuring client transactions or offer constructive alternatives
• Partner with the Associate Private Banker(s) to provide FA and their client(s), Private Banking products/solutions, distribution and service support
• Act as the subject matter expert for FA, Branch and client inquires on Private Banking products and services
• Understand competitive environment and develop strategies to retain and win new business
• Develop and implement product marketing strategies with Branch Management and FA team
• Work with and communicate effectively with Financial Advisors, Branch Managers, Branch staff and Product partners

Skills

Lending BD

Relationship building

Credit products

Financial advising

Communication skills

Education

Bachelor's degree

Job description

Morgan Stanley (“MS”) is a global financial services firm that conducts its business through three principal business segments—Institutional Securities, Wealth Management, and Asset Management. Wealth Management 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 (“Private Bankers” or “PB”) to join our Sales Team in the Private Banking Group. The Private Banker will build Advisor product awareness and understanding of the full cash management and lending platform within their assigned office(s).

Job Description/Position Responsibilities

• Partner with FAs to provide advice and potential cash management and lending solutions to clients
• Build product awareness and understanding among Financial Advisors
• Partner with Financial Advisors to profile their client base, identify and analyze business opportunities and succeed in growing new cash management and lending revenue
• Build, promote and maintain adequate pipeline of opportunities to meet all Private Banking targets, including, but not limited to production, balances, revenue, Advisor participation, units, etc.
• Establish a reputation of execution and excellence. Gain confidence of FAs to fully develop the cash management and lending opportunities with their clients
• Develop and present creative and intelligent solutions and advise in structuring client transactions or offer constructive alternatives
• Partner with the Associate Private Banker(s) to provide FA and their client(s), Private Banking products/solutions, distribution and service support
• Act as the subject matter expert for FA, Branch and client inquires on Private Banking products and services
• Understand competitive environment and develop strategies to retain and win new business
• Develop and implement product marketing strategies with Branch Management and FA team
• Work with and communicate effectively with Financial Advisors, Branch Managers, Branch staff and Product partners

Qualifications:

• Minimum of 7 years of successful lending business development experience with an investment, commercial or private bank
• Expert knowledge of credit products including credit cards, residential mortgage products, home equity lines of credit, securities-based loans, high net worth tailored lending products and commercial credit facilities
• Experience in understanding the financial needs of all types of clients
• Proven new business development / origination experience with Lending products is required
• Completion of formal credit training strongly preferred
• Bachelor’s degree preferred or relevant experience

Skills/Abilities:

• Strong relationship building capabilities with Financial Advisors, Branch Managers, Clients, Product Specialists and matrix partners
• Strong understanding of the suite of all cash management 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
• Ability to understand the financial needs of the retail brokerage clientele.
• Ability to efficiently, tactfully & professionally screen, manage and/or decline transactions while maintaining FA and client relationships
• Possess excellent business development and marketing skills and desire to consistently achieve top revenue results
• Maintain poise, presence and professionalism with FAs and their affluent clients in the most difficult circumstances
• Demonstrate positive initiative, leadership and comfort working in a fast-paced environment
• Detail orientation with strong organizational and analytical skills
• Ability to train Financial Advisors on product suite
• Possess excellent oral and written communication skills
• Exceptional presentation skills
• Ability to meet deadlines and manage Financial Advisor and client expectations
• Good collaboration skills in a team-oriented environment

WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo.