Private Banker

PowerToFly; Oak Brook (IL); On-site; USD 110,000 - 190,000; Full time

Benefits offered by this job

Potential annual bonus

Incentive compensation plan

Job summary

Morgan Stanley is seeking a Private Banker to join their Sales Team in Oak Brook, IL. In this role, you will partner with Financial Advisors to provide tailored cash management and lending solutions.

Successful candidates will have at least 7 years of lending experience, strong relationship building skills, and a proven track record in business development. The position offers a competitive salary range of $110,000 to $190,000 annually.

Qualifications

• Minimum 7 years of successful lending business development experience.
• Expert knowledge of credit products including residential mortgages and high net worth lending.
• Proven new business development experience with lending products.

Responsibilities

• Partner with Financial Advisors to provide cash management solutions.
• Build product awareness and client relationships.
• Develop and implement product marketing strategies.

Skills

Relationship building with Financial Advisors

Understanding cash management products

Business development and marketing

Communication skills

Analytical skills

Education

Bachelor’s degree or relevant experience

Job description

Overview

We are seeking a high potential candidate (“Private Banker” 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).

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 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 inquiries 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 and 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

Compensation

Salary range for the position: $110,000 - $190,000 yr. The successful candidate may be eligible for an annual discretionary incentive compensation award. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component.

Equal Opportunity Employment

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