Parcion Private Wealth (Bellevue, WA) seeking COO

Parcion Private Wealth is looking for a dynamic leader to help our firm execute on its promise to help clients reach their goals and aspirations. You’ll help our leadership team achieve key performance objectives and direct the alignment of team members and resources.

This is your opportunity to play a key role in the future success of a fast-growing Registered Investment Advisor (RIA) and boutique virtual family office. In 2019, members of our team were recognized by Forbes and Shook research in 2019 as #1 Top Wealth Advisor and #1 Top Next Generation Wealth Advisor in the State of Washington. We have also been honored numerous times in Barron’s, the Financial Times, and Seattle Magazine on their lists of top wealth advisors.

We are committed to growing our company in the RIGHT way. To keep us focused on where we are headed, we have created our Vivid Vision for the next three years. By the end of 2022, some of our key objectives are:

 $2.27 Billion in Assets Under Management
 90 client families or less
 30 top-performing, highly credentialed, private wealth professionals
 An overall average rating of 9 or higher on our Parcion Client Experience Survey
 An overall average rating of 9 or higher on our Parcion Team Member Survey
 Quarterly company philanthropic team-building events
 More than 90% team retention each year

Our mission at Parcion is to champion wealth creators, entrepreneurs, innovators, and their families by guiding them through life-changing liquidity events and helping to maximizing the positive impact they have on their communities and the world. If you have a relentless, burning desire to succeed and share our vision, then we would love to hear from you!

To apply, please email your resume to: terry@parcionpw.com

PURPOSE:
 Strategic Partner. Impact 35%. The strategic partner role means the COO must be able to craft and implement companywide initiatives with a long-range vision, relying on both innovation and business acumen.
 Operations Leader. Impact 30%. A successful COO must have the capability to develop and manage people and process and be skilled in  building mechanisms to measure and monitor key metrics.
 Employee Developer. Impact 20%. The role of employee development entails working with individual employees and managers to build sustained solutions.
 Risk Management & Response. Impact 15%. The role of risk management and response is focused on immediate fixes as well as on long-range policy development and management.

 The successful COO must be able to balance the tensions that exist between and divide and manage his/her time across all four roles in a typical week. Industry background is less important than the COO’s competencies in these four critical areas in determining
COO effectiveness:

  1. Operations Leader
  2. Strategic Partner
  3. Employee Developer
  4. Risk Management & Response

KEY RESULT AREAS & ACTIVITIES PERFORMED STRATEGIC MANAGEMENT
 Understanding the strategic needs of the business and maximizing the drivers of sustainability and growth;
 Partner with the Executive Principals on developing and implementing a strategic vision, both an annual and multi-year strategic plans, and defining values and company objectives aligned with creating long-term enterprise value;
 Designing structures around strategic objectives and providing management support to all company teams;
 Foster a culture that can identify and initiate the implementation of market opportunities and innovations that may create a sustainable competitive advantage for the business.

OPERATIONS MANAGEMENT
 Process design and oversight and quality control of operations, technology, administration and client service;
 Instill quality project management capabilities and oversee quality control, management and development of operations and service;
 Provide management guidance and supervision to compliance;
 Provide leadership to the analysis and management of the client experience and refinement of client-centric operations and processes;
 Identify critical company metrics, set expectations and monitor the Company’s business processes and operational strategies that support the efficient and effective delivery of advice and service to clients;
 Provide oversight of and act as primary liaison with outside consultants to define and manage priorities, workflow design, and performance improvements that lead to long-term business sustainability and success;
 Partner with custodians, key technology partners and other strategic vendors/partners to benefit the efficient operation and growth of the company;
 Oversee the design, management, and implementation of key operational systems, procedures and technologies, including but not limited to:
o Orion: Portfolio Accounting, Performance Measurement and Client Reporting
o Orion / Wealthscape: Portfolio Trading System
o Salentica Salesforce: Client Relationship Management (CRM) System
o eMoney: Client Interface and Financial Planning Software
o LiquidPlanner: Project Management System

RISK MANAGEMENT
 Provide executive-level supervision of the compliance function, participate in developing and leading our regulatory compliance policy and oversight;
 Establish and maintain business continuity;
 Lead emergency responder in difficult situations;
 Identify and manage risks associated with growth;
 Participate with other Executive Principals in risk identification and risk management across all aspects of the business including, but not limited to operations, portfolio administration, client management and service, advisory practice management, investment management, technology, outsourcing and vendor management;
 Act as or supervise the firm’s Chief Compliance Officer in the design and management of the company’s regulatory compliance program;
 Maintain the company’s compliance calendar and ensure all regulatory deadlines are met;
 Ensure all regulatory registrations, filings and requirements are current;
 Educate the company personnel on their compliance duties;
 Conduct and/or oversee the internal testing and regulatory audit preparation efforts.

 

GENERAL MANAGEMENT AND TALENT MANAGEMENT
 Develop, communicate and implement the firm philosophy, procedures, standards of practice and workflow;
 Prioritize and allocate staff time to ensure adequate support is provided on a timely basis;
 Hold all supervisors and managers accountable for achieving their people performance and development goals;
 Plan and effectively structure the organization, ensuring it has adequate staffing levels;
 Provide ongoing support for senior staff by providing professional development opportunities and regular feedback on performance;
 Conduct regular cross-company information and communication team meetings;
 Hire and manage support, operations, and administrative staff;
 Authorize training requirements and provide guidance on continuing education expectations for employees;
 Develop human capital plan based on the needs of the business;
 Provide thoughtful feedback and development and inspire others to do their best work;
 Ensure that policies and procedures do not stifle innovation and are aligned with the company culture and values.

SALES & MARKETING
 Act as an adviser and coordinator of sales policies and compliance;
 Approve marketing programs in accordance with company policy and participate in setting business development objectives;
 Participate in the development of short- and long-term business strategies and sales forecasts and feasibility studies for new business;
 Centralize collection and reporting of sales performance, current activities and forecasts of expected activity.

FINANCIAL & HR MANAGEMENT
 Oversee Finance & HR for the preparation, forecasting and approval of company financials and budgets, including compensation, and manage the P&L and cash flow;
 Work with bookkeeper and CPA to ensure accurate and timely reporting and tax filings
 Review and approve the annual business plans and budgets for each functional area;
 Review and appraise the results of the business and ensures appropriate action is taken to remedy unsatisfactory results;
 Present reports and analysis for executive management team;
 Hold peer leadership group accountable for the profitable operation of the company and its achievement of targets and objectives;
 Manage the company’s compensation plan, vacation and benefits plan and vendors, and ensure proper maintenance of all employee and payroll records and personnel files;
 Manage the business insurance process to ensure appropriate coverage.

REQUIRED AND PREFERRED EXPERIENCE AND SKILLS:
 Advanced degree or professional designation (MBA, CFP, CFA, etc.)
 Experience running business operations within a Registered Investment Advisor (RIA);
 Minimum 5 years experience in a senior management position and 10-15 years experience in business and financial industry;
 Experience managing P&L for a company;
 Experience in SEC compliance management;
 Demonstrated initiative and creative aptitude with proven ability in management;
 Ability to lead others and hold business partners and employees accountable;
 Having a professional presence to represent the Company at external functions;
 Series 65 license, (ability to pass required licensing exams within 90 days of employment);

ADDITIONAL DETAILS, BENEFITS, AND PERKS:
 Full-time position / exempt status
 Competitive salary and incentive bonus structure based on experience
 Full benefits package including, health, dental, vision, life, disability, and 401(k)
 15 days of paid-time off, plus all market holidays, and philanthropy days
 Block vacation bonus after year one
 Employee and client referral bonuses
 Snacks, drinks, and some meals provided
 Regular team offsites, including annual team retreat
 Access to multiple exclusive industry and non-industry related events throughout the year
 Access to Parcion Family Office Network vendors and preferred pricing discounts

ABOUT PARCION PRIVATE WEALTH:
We champion wealth creators, entrepreneurs, innovators, and their families by guiding them through life-changing liquidity events and helping to maximizing the positive impact they have on their communities and the world.

We currently serve 49 families and manage approximately $1.2 billion in client assets**, which we manage on a bespoke basis. Since no two clients are the same, we deliver a personalized experience and custom investment policy for each family that we serve.

In 2019, members of our team were recognized by Forbes’ as #1 ranked Top Wealth Advisor and Top Next-Generation Wealth Advisor in the state of Washington. Our team has also been honored by publications such as Barron’s and The Financial Times.

10700 Northup Way, Suite 110
Bellevue, WA 98004

www.parcionpw.com

Parcion Core Values
Integrity
Dedication
Teamwork
Impact
Opportunity

Parcion Private Wealth provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability or genetics. In addition to federal law requirements, Parcion
Private Wealth complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has offices. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

Parcion Private Wealth expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of Parcion Private Wealth’s employees to perform their job duties may result in discipline up to and including discharge.
**As of the end of January 2020