Private Banking Manager jobs in Chicago, IL

At BBH we value diverse backgrounds, so if your experience looks a little different from what we've outlined and you think you can bring value to the role, we will still welcome your application!

What You Can Expect At BBH:

If you join BBH you will find a collaborative environment that enables you to step outside your role to add value wherever you can. You will have direct access to clients, information and experts across all business areas around the world. BBH will provide you with opportunities to grow your expertise, take on new challenges, and reinvent yourself-without leaving the firm. We encourage a culture of inclusion that values each employee's unique perspective. We provide a high-quality benefits program emphasizing good health, financial security, and peace of mind. Ultimately we want you to have rewarding work with the flexibility to enjoy personal and family experiences at every career stage. Our BBH Cares program offers volunteer opportunities to give back to your community and help transform the lives of others.

Join us as a Relationship Manager II - Private Banking

The Relationship Manager II serves as the point person for ultra-high-net-worth clients, with a focus on increasingly more complex relationships, client service and portfolio management. The RM II demonstrates a high level of credibility, presence, and confidence in working with clients as well as intellectual know-how (ability to answer non-routine client questions and problem solve complex client issues). The RM II generally handles meetings on his/her own - but may have a more senior team member tangential to a client's relationship management. The RM II is beginning to focus on business development (from existing and new clients). Partners with Team Leader, other RMs, Relationship Associates, Wealth Planners and Corporate Advisory colleagues.

Areas of Responsibility

Relationship Management & Business Development

• Effectively service clients and is the primary point person on designated accounts; handles moderately complex accounts independently. Partner with more seasoned RMs on the most complex accounts.

• Ensure all clients are highly satisfied with the service they are receiving as demonstrated by continuing to maintain their assets at BBH and referring their friends and family to the firm.

• Generate new book of business primarily through referrals from existing clients, although may also be focused on new clients (working towards allocating up to 30% of time on business development).

Investment Execution

• Serve as first call for portfolio related questions (e.g., Internally and externally managed Investment Strategies / Asset Allocation / Performance / Taxes)

• Demonstrate comprehensive knowledge of client's personal balance sheet and estate plan to ensure that the needs of our clients are being addressed.

• Implement investment strategy to meet individual client goals and objectives. Utilizes BBH guidelines and policy to assist with development of client's specific investment plans (e.g., asset allocation).

• Possess high level of investment knowledge (knowledge of all asset classes, their liquidity characteristics, risks, tax consequences) and judgment and ability to demonstrate this knowledge with clients.

• Prepare for and lead account reviews, account openings/closings/maintenance.

• Create client review and prospective client meeting materials.

Risk Management & Administration

• Exercise sound, professional investment judgment on behalf of clients, while avoiding risks to the firm and demonstrate 100% adherence to the compliance requirements of the business, including Investment Policy Statements, Know Your Customer requirements, completing documentation and written records of meetings and discussions.

• As primary day to day contact point with clients, elevate high level risk issues to Team Leader and/or CAO.

• Ensure total compliance at the account level and oversee and respond to all compliance reports (i.e., overdraft reports, approved trades, delinquent documentation, IPSs).

• Oversee all account maintenance activities, including, documentation, meeting materials and performance evaluations.

Business & Professional Leadership

• Active participation in personal and professional networks (e.g., organizations professional contacts); beginning to research/monitor industry related resources (e.g., newspapers) for the purpose of identifying potential leads (in conjunction with more seasoned RMs/TLs).

• Keep abreast of internal/external market activity and be well read and become conversant on overall market tends, including but not limited to, reading the Wall Street Journal and other investment-related publications daily.

• Manage self (e.g., EDP completion) to develop professionally and personally by utilizing the internal resources at BBH.

• Coach, train and mentor Ras and Sr. Ras and provide input on their career development.

Education level and/or relevant experience(s)

• BA/BS required and/or equivalent job experience

• 5-8 years relevant portfolio management experience involving equities, bonds, or both

Knowledge and skills

• Excellent client service and relationship management skills

• Superior oral/written communication, analytical and thought leadership skills

• Comprehensive knowledge of investments, tax and estate planning and/or banking services

• Strong team player

• Strong work ethic

• Self-motivated and driven to perform

Other requirements

• CFA, CFP, and/or MBA preferred