U.S. Trust - Non-profit Senior Institutional Sales Director

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Bank of America Corporation
  • 16 Oct 18

U.S. Trust - Non-profit Senior Institutional Sales Director

Job Description:

Business Overview

U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship.

U.S. Trust is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. U.S. Trust employs more than 4,100 professionals and maintains 135 offices in 33 states.

Job Description

The Senior Institutional Sales Director (Sr ISD) is a producing role directly responsible for driving growth in the OCIO business within their assigned division. This individual will proactively prospect for institutional business in the division, in addition to driving the sales strategy with the Institutional Sales Directors (ISDs) across markets. This individual will serve as territory team leader.

Major Responsibilities

  • Drive asset and revenue growth in the institutional business within division
  • Identify and qualify larger more complex institutional prospects
  • Drive sales process for opportunities sourced by PCAs/ICAs and ML GIC FAs
  • Work closely with ISDs in division to review pipeline and ensure resources are appropriately aligned
  • Act as initial point of contact for GIC FAs and Bankers for new opportunities within division to assess deal potential, prioritize resources and build sales team
  • Maintain high level involvement as a senior member of relationship management team on larger more complex new client relationships
  • Generate prospect referrals from new relationships
  • Work with internal specialized industries' leadership to set execution strategy, uncover opportunities and drive growth within the division
  • Point of contact for specialized industries' bankers to evaluate, position and develop appropriate solutions for division opportunities
  • Partner closely with relationship managers , OCIO Champions and UST High Net Worth Division Exec to drive growth and ensure segment-based OCIO strategies are being executed within division
  • Cultivate institutional and not-for-profit consultant network
  • Act as subject matter expert for investments and OCIO opportunities within division
  • Attend and present at industry conferences
  • Define division implementation o f market tier/segmentation strategy working with SE and ISDs

Required Skills
  • Deep understanding and expertise in investments, asset allocation, investment and spending policies
  • Expertise and knowledge around alternative investments including hedge funds, private capital, real estate, timber and farmland
  • Understand how to navigate the organization to clear obstacles and get business closed
  • Strong influencing, collaboration and relationship management skills
  • Experience and credibility as a sales practitioner
  • Strong presentation and public speaking skills
  • Ability to diagnose needs and structure RFPs to address needs and win business
  • Strong listening and probing skills
  • Deep understanding of key institutional segments and institutional investment trends and strategies
  • Deep and wide knowledge of GWIM investment solutions, UST investment strategy and platform

Desired Skills
  • 10+ years of successful experience selling asset management services to non-profit entities, foundations, endowments and pensions
  • History of marketing and selling OCIO services and solutions to nonprofits with a strong track record in closing business with nonprofits with AUM
  • Experience positioning and selling complex investment solutions to investment committees, trustees and senior staff of large nonprofits
  • Series 7, 63 and 65 licenses

1st shift (United States of America)

Hours Per Week: