Location: Chicago, Illinois
Employment Type: Direct Hire
Job ID: 762
Date Added: 08/13/2024
JOB PURPOSE
The Director of Third Party Business Management is responsible for supporting the Private Wealth Management business in achieving its vision to be the go-to wealth management firm in the United States. The Business Management group provides support in implementing the strategic priorities and operational activities of our client’s Private Wealth Management.
KEY ACCOUNTABILITIES / RESPONSIBILITIES
- Director, Third Party Vendor Management is responsible for driving strategic goals to be achieved by implementing products and services that streamline and simplify how we service our client relationships.
- Liaise with external vendors and key third party providers to deliver solutions to improve the Client and Advisor Experience
- Prioritize, direct and implement assignments / projects / initiatives, and resolve issues / problems to ensure Front Office staff can focus on direct client activities.
- Manage and drive line of business initiatives to support strategic growth plans; secure project funding, coordinate and draft project plans while complying with change management policies and programs.
- Act as the lead business sponsor for any change initiatives that are subject to the Change Initiative Risk Assessment process.
- Be responsive and accessible to the business throughout the day; be proactive in response to information requests and business related issues.
- Build and maintain working relationships with stakeholders across the different functions our team supports (e.g., Relationship Management, Client Service, Investments, Wealth Strategies, Marketing, etc.) including up to Senior Management levels.
- Partner with cross-functional groups (i.e., Operations, Technology, Finance, Human Resources, Compliance, Legal, and Internal Audit) to resolve issues, improve efficiencies, promote business objectives, and execute positive results; help identify and escalate issues/risks/dependencies and facilitate communication across teams.
- Partner with technology to ensure design and build requirements meet business needs; assist with technology projects by prioritizing and participating in technology discussion.
- Liaise with external vendors and key third party providers to deliver solutions to improve the Client and Advisor Experience.
- Lead team members who are responsible to manage and monitor existing Governed Applications and own addition of new Governed Applications to the business process as defined in the BMT Policy
- Identify and communicate any relevant training needs that are required from a new initiative stand point
- Provide leadership and effective change management needs of business unit staff to influence employee outcomes and utilization across the organization, to the team, and to their job by;
- Setting appropriate context when designing solutions to ensure that employee adoption of new tolls and solutions.
CROSS-FUNCTIONAL RELATIONSHIPS
- This role collaborates with peers from Wealth Management as well as with many infrastructure and support groups to identify, support and resolve business functions, issues and needs;
- On a regular and ongoing basis, this position interacts with all functional areas of the firm up to, and including, the Senior Management level.
RISK & COMPLIANCE
Our client’s risk culture is based on employees striving to exceed the expectations of ourselves and our leadership’s identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring/assessments. We all are accountable for managing risk.
As an employee of our client’s the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes:
- Following all aspects of the Code of Conduct, as well as all applicable our client’s policies, frameworks, guidelines, processes and controls
- At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals
- Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
- Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings
- Escalating matters through one of the appropriate channels identified in the Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with all policies, frameworks, guidelines, processes and controls
- Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders
- Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting our client’s reputation as a leading financial institution
KNOWLEDGE AND SKILLS
- 10+ years of demonstrated experience as a Business, Operations or Project Manager in Wealth Management, Finance, Operations or Technology related role;
- Deep understanding of the Wealth Management Business, its offering, its operations, and understanding of the wealth management operating platform
- Ability to lead and motivate a team of professionals including the ability to motivate key stakeholders to deliver high quality results related to line of business project objectives.
- Ability to understand data and design reporting necessary to monitor or report on risk
- The ability to negotiate, influence and communicate effectively to all levels of leadership at the firm (Client Service, Regional Leadership, Relationship Managers, Team Heads; Senior Management )
- Highly motivated, self-starter; strategic thinker able to work in a fast paced, results driven environment;
- Strong interpersonal, written, verbal and presentation skills;
- The ability to develop or oversee a comprehensive project plan that outlines the scope, timeline and resources to complete a business line initiative
- Ability to execute tasks under aggressive targets and effectively manage to changes in plan;
- High proficiency of Microsoft applications (i.e., Microsoft Office, including PowerPoint, Excel, Visio);
