JPMorgan Chase Wealth Management | U.S. Private Bank | Client Service Manager in Chicago, Illinois
J.P. Morgan Asset & Wealth Management, with client assets of $2.8 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.
J.P. Morgan Wealth Management is a global wealth management leader that delivers the highest quality advice, service, capabilities and products to Ultra High Net Worth individuals and families around the world. We deliver highly customized and comprehensive solutions to help clients with the many complexities they face by leveraging the commercial and investment banking capabilities of the firm.
Wealth Management is involved with every facet of wealth management, including investments, wealth structuring, philanthropy, liquidity and credit management, and tax and estate planning. Our business model focuses on deep client relationships, an integrated team structure and a platform of depth and breadth.
The Client Service Group (CSG) is responsible for managing and facilitating the daily unique and complex service needs of the Private Bank’s client base. Service is delivered in a team-based model with key locations in the US, Latin America, Europe, the Middle East, Africa and Asia.
The Private Banking Client Service Manager (SM) is responsible for all of the activities of his/her team of approximately 10-20 Client Service Associates (CSAs). Each Service Manager's team of CSAs is regionally aligned to a banker(s) and their clients based upon the banker's geographic location. The SM "owns" all aspects of the region's client service responsibilities and must manage this piece of the business. As a result, a SM must forge excellent working relationships with the region's entire team - bankers, advisors, region heads, product partners and controls/compliance teams. They must also interact effectively with mid-office and operations teams in order to help their CSAs deliver a seamless and integrated experience to our clients across all products. Products include deposit, banking, brokerage, custody, investment management, fiduciary, mutual funds, credit, foreign exchange and private investments.
The Service Manager's primary focus is to manage the day-to-day activities within their team, as well as address broader matters such as staff development, resource deployment, and personnel issues. SMs are also the key link between CSAs and the Client Service Management Team; consequently, SMs play a crucial role in helping set the strategic direction for the overall group. Daily responsibilities include: coaching/mentoring; monitoring telephone call quality, overdrafts, and work volumes; analyzing reports; approving workflows and large dollar cash movements; organizing projects and leading initiatives; evaluating staff performance; and acting as the CSA's initial escalation point for complex or sensitive client issues.
Due to a SM's responsibility for managing a team of FINRA licensed CSAs, they are required to have their Series 7, 63 and 24 licenses.
Responsibilities include but are not limited to the following:
Provide CSAs with guidance and resources for delivering high quality, high touch service to Private Banking clients. Must be able to recommend solutions tailored to clients' specific needs.
Manage team's daily work volumes and transactions accurately, within established deadlines, and in accordance with existing policies and procedures.
Meet with bankers and product partners regularly to ensure service expectations are met.
Research, follow-up and resolve escalated client issues and problems through effective interaction with clients, bankers, product partners, branch/operations areas, and other partners in a timely and professional manner.
Evaluate staff performance and provide feedback via informal discussions, quarterly/semi-annual performance meetings and the annual review process. Represent staff performance during semi-annual and annual Evaluation Committee reviews.
Participate in the continuing strategic development of the Client Service operating model, and help validate proposed ideas/plans prior to implementation.
Lead/participate in special projects within Client Service and represent Client Service in broader initiatives within Private Banking.
Knowledge and Skills Sets
Excellent judgment and decision making skills.
Strong leadership and management abilities; must be able to think strategically. Solid communication, time management and interpersonal skills; must be able to diffuse conflict diplomatically.
Keen understanding of the financial and banking industries.
In-depth knowledge of the region's client base, and strong rapport with bankers, product partners, and in some cases, key clients.
Ability to adapt to a rapidly changing business and technology environment; must be a change leader.
Solid comprehension of Private Banking range of products, including deposit, banking, brokerage, custody, investment management, fiduciary, mutual funds, and credit products and services as each applies to their specific region's business segment.
Must understand and comply with the regulations, policies and procedures related to these products and services, and reinforce with their team the possible financial liabilities of the transactions associated with these products and services if they are not executed properly.
Working knowledge of key areas of the firm (e.g., JPMorgan Funds, Cash Services, Retail Branch Network, Credit Products, Securities Operations and Client Information).
Solid understanding of systems and databases used within the Private Bank.
Disciplined approach to managing and acting upon key daily reports.
Strong comprehension of how data and information flow through the firm's processing and reporting systems, and an in-depth understanding of all operation roles and inter-dependencies.
Good project management skills; must be able to engage all participants and meet deadlines/deliverables.
For internal hires, 4+ years of experience as a CSA is highly beneficial and recommended for the role.
Private Banking experience preferred.
College degree or equivalent experience.
Certification or Registration
Series 7/24/63 licenses required for position, but not necessary upon hiring. Licenses required within 120 days of hire date.
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.