Peapack Private Wealth Management (Morristown/Bedminster, NJ) Seeking Client Service Team Leader
Job Title Client Service Team Leader
Company Peapack Private Wealth Management – Morristown/Bedminster
Dept/Division Operations/Client Service
Job Purpose The Client Service Team Leader (“CSTL”) will lead and manage a team of Client Service Officers and reports directly to the Director of Client Service. The CSTL will work with the Director of Client Service, along with other CSTL’s, to improve the client service offering as well as business processes and procedures.
The CSTL also handles operational functions (e.g., new accounts, cashiering, etc.) and serves as the primary contact for all client service issues. This role also serves as the primary contact for his/her team with the firms’ custodians regarding day-to-day operational issues.
The CSTL is responsible for maintaining the highest quality service and responsiveness to clients, prospects and advisors in addition to meeting service expectations, ensuring the accuracy of client account administrative activities and developing collaborative relationships with clients and advisors. This role is responsible for creating a compelling client experience and providing a high level of service throughout the client lifecycle.
Primary Job Accountabilities/Responsibilities
– Scan and file client correspondence, paperwork, etc. and maintain office files
– Process outgoing mail
– Scan incoming and outgoing correspondence
– General scanning
– Assists in establishing the team’s in-office schedule, helps manage coverage while supporting the team’s need for time off
– Serves as a resource for questions or issues that need escalation while also providing direction and coaching.
– Helps determine when to escalate client situations to Director of Client Service at our custodians
– Manages the engagement and performance of the team through one-on-one discussions about performance, projects, capacity, development objectives
– Works with the Director Client Service and HR to assist in recruiting and onboard new CSO’s as applicable
– Engages regularly with the Director Client Service and other CSTL’s to discuss team dynamics, engagement of the team, opportunities for improvement, risks and issues
– Serve as primary contact with custodians regarding day-to-day operational issues.
– Work with custodians to ensure smooth client inception experience.
– Provide accurate, timely, and effective support for clients
— Promptly and effectively address client inquiries and requests and provide proactive communication and information, as appropriate. Research and resolve problems and appropriately escalate opportunities to the advisors/management.
– Prepare new client/account paperwork
– Complete cashiering responsibilities and ACH/wire/check requests
– Process client account maintenance (e.g., address changes, margin, options, etc.)
– Process and track ACAT’s and new accounts
– Process quarterly trust distributions
– Process client charitable gift contributions
– Process and document all check deposits
– Assist clients with class actions, provide confirms/complete & mail proof of claim forms if necessary.
– Provide clients/accountants with realized gain/loss reports, div and income reports, K-1’s, fees paid, etc.
– Responsible for annual RMD; calculating, processing and documenting.
– Prepare & email/mail year-end tax letter mailing
– Primary review custodian Alerts (i.e., cash debit balances, address change, etc.) and take appropriate action and/or notify internal parties.
– Ensure that corporate actions (i.e., stock splits, mergers, etc.) are run properly through custodian and Tamarac.
– Tamarac Portal – creating clients on portal and uploading/downloading individual documents
– Track all missing cost basis/secure missing cost basis for new accounts/securities and enter in Custodian cost basis system and provide basis to Tamarac.
– Initiate and/or participate in projects and/or initiatives as appropriate with the intent of continual improvement in processes, client experience, efficiency, etc.
– Responsible for staying on top of all custodian policy changes, new procedures, tech updates, etc. and notify appropriate staff. Discuss impact of any potential changes/updates to existing procedures with Director of Client Service and make revisions where applicable. Notify clients if applicable.
– Run Quarterly Performance Reports and upload to client portals. Coordinate mailing of reports with appropriate staff.
– Perform pre-work for quarterly billing and coordinate with Billing Team.
– Compile legacy QCM new business and submit to Data Analytics Team.
– Maintain CRM workflows for operations/client service
– Review/monitor daily Tamarac transactions (as primary review)
– Work with Data Analytics team on monthly AUM, Asset Class and Flows and provide additional information as requested.
– Maintain CRM Database – non-fplanning
– Maintain integrity of Fidelity, Schwab and Tamarac data via downloads and interfaces
– Enter client/account data into client databases/CRM/Outlook (non-fplanning)
– Provide information to CCO for annual privacy notice mailing
– Respond to audit requests from Compliance Dept.
– Serve as back-up to other Client Service Officers
Success and Goals:
- Building of valuable relationships with colleagues and clients
- Ability to work independently with little oversight by management
- Timely completion of tasks and projects and ability to prioritize workload
- Regularly meets deadlines
- Develop, mentor and motivate direct reports, delegate appropriately, and model positive leadership
Experience and Education
- Bachelor’s degree in business/finance or equivalent work experience
- Client service experience (7-10 yrs) in wealth management preferred
Skills and Knowledge
- Previous management experience preferred
- Familiarity with Fidelity Investments and Charles Schwab custodial platform and processes preferred
- Proficiency with Tamarac portfolio management software preferred
- Proficient in Microsoft ® Office
- Knowledge of CRM software
- Strong verbal and written communication skills
- Detail oriented with strong organizational skills
- Proven ability to manage multiple priorities and meet deadlines
- Demonstrated ability to build strong relationships and work with diverse personalities
- Strong problem-solving skills
- Demonstrated integrity and ability to maintain confidentiality