US Head of Private Bank and Wealth Management Operations- VP

  • Negotiable
  • Manhattan, NY, USA
  • Permanent, Full time
  • Deutsche Bank - US
  • 14 Sep 17

Job Title: Operations Manager Location: New York

About Deutsche BankA Passion to Perform is what drives us. More than a claim, this describes the way we do business. We're committed to being the best financial services provider in the world, balancing passion with precision to deliver superior solutions for our clients. This is made possible by our people: agile minds, able to see beyond the obvious and act effectively in an ever-changing global business landscape. Diverse, international and shaped by a variety of different perspectives, we're driven by a shared sense of purpose. At every level agile thinking is nurtured. And at every level, agile minds are rewarded with competitive pay, support and opportunities to excel.

US Head of Private Bank and Wealth Management Operations - Job Description

Wealth Management and Private Banking Operations provides operational support to the Banking and Lending business and Wealth Management clients with combined Assets under Management (AUM) of $6.8B. As part of the support model, WM Operations has dedicated teams which are responsible for management and oversight of Settlement and Clearing Operations to trusted third-party vendors. These teams collaborate with stakeholders in Business, IT, Compliance, Finance, Legal, Risk to deliver on Operational support.

Candidate will be leading the WM Operations US team located in New York, Jersey City, Baltimore MD, and Jaipur India. Candidate will be based out of New York.

Job Requirements

  • Relevant experience with operational oversight and leadership role in private banking and wealth management Middle and Back-office functions and services
  • The US Head will report to the Global Head of Operations and will have direct responsibility to:
  • Manage and deliver the suite of mandatory regulatory deliverables affecting WM and PB Operations - in collaboration with the WM Operations Global Regulatory Change Team
  • Manage Internal Audit, Vendor Risk Management oversight and review processes for reporting and remediation - in collaboration with and supported by the WM Operations Embedded Risk Team and WM Operations Global Vendor Governance
  • Manage diverse team with a direct span of control of 30 FTEs located in Baltimore MD, Jersey City NJ, Manhattan NYC and an indirect span of control of 45 FTEs in Jaipur, India
  • Actively manage annual Budget of ~$21M
  • Serves as the Bank's Service Relationship Owner (SRO) for three Tier 1 vendors and the associated responsibilities for this function
  • Maintain the library of Key Operating Procedures authored and followed by team to align with ongoing changes affecting processes
  • Monitor operational and financial diagnostics/analysis to identify platforms/procedures that require enhancement / streamlining and identify ways to make them more effective and efficient
  • Manage and monitor operational KPIs and SLAs and associated costs/fees incurred from third-party clearing and settlement vendor
  • Manage and deliver on-going and recurring Change the Bank (CTB) projects and programs in support of Business and Technology
  • Establish and ensure compliance with Regulatory Policies and Rules affecting WM and PB Operations
  • Manage Document Management Team in support of Trust and Private Banking Operations in the context of DB Document/Record Retention and Archival Policy

Qualifications (Desired Skills and Experience)

  • Project management skills: The candidate must have the ability to create practical and comprehensive implementation plans and partner with all levels of management and stakeholders to gain consensus. Client management and teamwork skills: The candidate must have demonstrated ability in being flexible and working with stakeholders and colleagues at all experience levels.
  • Experience of engaging and working with senior leaders within the organization is essential
  • Four-year college degree, MBA Preferred
  • Experience with financial instruments including but not limited to mutual funds, equities, fixed-income, FX, alternative investments such as Private Equity, Hedge-Funds
  • Knowledge of Client on-boarding processes and KYC/BSA/AML factors
  • Experience with Private Bank, Trust and Custodial functions such as Bill-pay, Wires, ACH and other Deposit Services
  • Knowledge of Wealth Management products and front to back services
  • Knowledge of Private Banking products and front to back services