Client Service Officer II
Peapack Private Bank & Trust
Client Service Officer II
Peapack Private Bank & Trust is a well-recognized, high-performing boutique bank and a leader in wealth, lending, and deposit solutions. We provide a broad range of sought-after products and services designed to help our clients establish, maintain, and grow their legacy through an innovative approach to private banking.
What makes Peapack Private different from our competition? As an institution with over 100 years of history, we have always believed in putting the well-being and needs of our employees and clients first. We are proud to be recognized by American Banker for the eighth consecutive year as one of the nation's "Best Banks to Work For." Our secret sauce, in a word, is our culture.
We value a diverse, equitable, inclusive, and safe workplace. Our one-team culture goes to great lengths to show all employees that they are valued members of the organization. We treat one another like family and communicate across the Bank in a transparent and frequent manner, respect and consider feedback from all levels, and operate with a philosophy grounded in hospitality and genuine human kindness.
There are multiple ways to build relationships and get involved; from joining one of our Cultural Ambassador sub-committees (focused on Wellness, Employee Fun, Diversity & Inclusion, or Environmental Awareness), to participating in community service activities through our Volunteerism outreach, to joining LIFT (Leading Inspiring Females Together), a committee focused on enriching the lives of women. Simply put, our culture is amazing.
Position Summary
The Client Service Officer II ("CSO II") provides Wealth Advisors, Trust Officers, Portfolio Managers, and other Wealth staff along with their clients, outstanding and responsive support for all issues. Performs client onboarding and manages the day-to-day, ongoing service of client relationships. The CSO II also serves as a subject matter expert in wealth processes, systems, products, and services.
The position is responsible for maintaining the highest quality service to clients, prospects, as well as internal partners, ensuring the accuracy of client account administrative activities and developing collaborative relationships with clients.
Responsibilities:
Client Service: Accurate and timely processing of new account openings, account transfers, account maintenance (i.e., address and beneficiary changes), money movement transactions (deposits & withdrawals), and IRA contributions and distributions. Also, promptly field questions from clients and internal team members as well as provide proactive communication and information as appropriate.
On-Boarding: Responsible for entire process of opening and funding new accounts, which includes preparing Know Your Client (KYC) documentation, drafting comprehensive client on-boarding documents (both internal and third-party custodian), submitting to custodians and ensuring account(s) are opened correctly and are fully funded. Also responsible for setting up new clients/accounts in Tamarac and setting new clients up on the Tamarac Client Portal.
CRM & Portfolio Management System Data Maintenance: Maintain all client data in the CRM, ensuring accuracy and consistency. In PMS, maintain accounts, households, reporting groups and billing for 3rd party custodian accounts.
Administrative/Compliance: Including, but not limited to, completing Initial and Annual Admin Reviews, responding to Wealth Compliance and Audit requests, scanning, and filing of client correspondence and paperwork, answering phones, and processing incoming and outgoing mail.
Projects: Participate in projects and/or initiatives as assigned, with the intent of continual improvement in processes, client experience, efficiency, etc.
Retail Banking Account Opening, Money Movement and Maintenance: Open new retail banking accounts for Wealth clients, move money, including wire transfers and deposits, as well as perform account maintenance (i.e., check and debit card orders, address changes, etc.).
Qualifications:
- Bachelor's degree in finance/business or equivalent work experience
- Minimum of five years' experience in Client Service in Wealth Management, financial services or a similar industry preferred.
- Experience working with different types of custody models (i.e., third-party (both wealth management and brokerage) and self-custody) preferred.
- Client service experience (2-5 yrs.) in wealth management, financial services or a similar industry preferred
- Proficient in Microsoft® Office
- Excellent verbal and written communication skills
- Detail oriented with strong organizational skills
- Must have exceptional critical thinking skills
- Must be an independent thinker who can exercise discretion in performance of duties and who has ability to make decisions independently
- Demonstrated integrity and ability to maintain confidentiality
Desired:
- Previous experience using Client Relationship Management ("CRM") system a plus.
- Previous experience with Fidelity Investments and/or Charles Schwab a plus.
- Previous experience with SEI Trust platforms a plus.
Benefits Overview:
We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental and vision coverage, maternity/paternity leave, education reimbursement, wellness programs and more. We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match.
The approximate pay range for this position is $72,653 to $97,000, plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location.
Note: Incentives and/or benefits packages may vary depending on the position.