Investment Services Lead Assistant

Merchants Bank, Winona, has an opening for an Investment Services Lead Assistant.

This individual will serve as Lead Assistant to the Investment Executives.  Will also coach and counsel the Investment Services Assistant team to ensure the department has a consistent and effective working model to serve clients while adhering to all regulatory matters.  Will daily contact with customers, Investment Executives and Investment Services Assistant team.  Duties involve establishing new accounts, servicing existing accounts, understanding compliance and regulations, administrative tasks, assisting with the design and coordination of seminars and events, and providing excellent customer service to customers and bank employees.

A Series 7 and 63 license is required.  Bachelor’s degree in finance or business administration and supervisor and leadership experience preferred.  5+ years of experience in the investment-related field with a strong understanding of financial and insurance products desired. Must have excellent verbal and written communication skills, strong organizational skills, and the ability to conduct all transactions of a highly confidential nature.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Please Apply online at www.merchantsbank.com/careers or in person at Merchants Bank, Winona (102 E 3^rd Street). Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Job Summary:

This individual will serve as Lead Assistant to the Investment Executives.  Will also coach and counsel the Investment Services Assistant team to ensure the department has a consistent and effective working model to serve clients while adhering to all regulatory matters.  The position requires daily contact with customers, Investment Executives and Investment Services Assistant team.  A Series 7 and 63 license is required as well as the ability to assist with insurance products.

Work is performed under direct supervision of set guidelines and procedures.  The person in this position will also provide scheduling of appointments, general typing (e.g., letters, account applications, data entry, customer correspondence, and miscellaneous projects) and confidential file maintenance.

Essential Responsibilities:

• Supervision of the Investment Services Assistant team.
• Establish brokerage accounts, including all necessary documents required to open a brokerage account for Investment Executives or personal account portfolio.
• Professional knowledge and experience working with mutual funds, equities, and other investment and insurance products.
• Be proficient with multiple computer software programs including broker dealer software and CRM system.
• Interact and network with customers and bank employees. Create a professional atmosphere in the brokerage area and with bank staff.
• Professional sales skills and marketing awareness.
• Have an understanding of compliance issues as required by regulatory agencies and Osaic Inc.
• Attend training on product knowledge, sales ideas, time management, soft-sell skills, etc.

Administrative Responsibilities:

• Establish appointments and arrange schedules.
• Adhere to and inspect work of the Investment Services Assistant team to ensure adherance to all compliance and regulatory procedures.
• Service existing accounts; establish systematic investments and withdrawals; request distributions.
• Utilize money services for ACH or EFT movements for trade settlements.
• Create customer files, create and update client database, and develop client lists.
• Log documents on bank office system.
• Ensure broker file retention requirements are met.
• Post the daily trade blotter and activity sheets, maintain a daily tracking of customers’ orders, and keep customer and security holding sheets.
• Document checks, stock certificates, legal documents, and other forms.
• Follow up on outstanding account transfers.
• Interaction with Osaic Inc. home office staff regarding customer needs and questions.
• Attend to filing, faxing, and copying of materials, and organizing work area.

Sales and Marketing Responsibilities:

• Make proactive calls to customers regarding their needs. Maintenance calls for updates and reviews and ask about any concerns or needs they may have.
• Assist in designing seminars, breakfasts, lunches, dinners, and other events for customers and prospects. May require time outside of regular office hours.
• Help prospect customer over the phone and set up appointments.
• Maintain a database of product and service providers and wholesalers; name, address, phone numbers.
• Monitor bank referral process and acknowledge sales leads.
• Distribute sales literature (*requires NASD Series 6 or 7, product restrictions).
• Give out interest rates or stock quotes (*requires NASD Series 6 or 7, product restrictions).
• Maintain a high-touch environment with new and existing customers; play proactive role in helping the investment Executive see at least 20 appointments/week, 25 touches or contacts per day (calls, correspondence, and in-person appointments.)

Physical Working Conditions & Demands:

Inside working environment, low machine noise, high traffic area.  Customer exposure.  Primarily requires sitting at desk, high degree of finger dexterity.  Will generally not require any lifting of more than 10 lbs.  Terminal/PC work requires good eyesight/ability to focus quickly.

Required Qualifications and Competencies:

Bachelors degree in Finance or Business Administration.  5+ years of experience in the investment-related field with a strong understanding of financial and insurance products. A Series 7 and 63 license is required.  Familiarity with CRM systems preferred.  Proficiency in Microsoft Office Suite required.  Supervisor or Leadership experience desired. Excellent verbal and written communication skills.  Strong organizational and multitasking capabilities.  Detail orientated and able to prioritize tasks effectively.  Ability to work independently and as a part of a team when appropriate.  Good time management skills. Ability to conduct all transactions of a highly confidential nature.

Relationships:

Responsible to the Investment Executive for fulfillment of duties, responsibilities, and authority.  Will work closely with Investment Executive to meet customers’ needs.

Will have extensive contact with customers, public, and staff, and is to conduct self in a manner that will enhance the overall marketing effort of the bank.

Salary/Compensation: $27.50 - $33.70 per hour

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