Vice President, Institutional Custody Relationship Manager
Job Description:
The Role
The ideal candidate will partner with existing and new client relationships with responsibility for creating, fostering and maintaining these key relationships. The RM will be accountable for overall client satisfaction, increasing assets, introducing Fidelity Institutional services and products, growing revenue and increasing overall profitability for each relationship.
To be effective, you will uncover client needs and opportunities by proactively developing a deeper understanding of client goals and challenges. With this understanding of your client’s businesses, you’ll identify and implement strategic solutions that influence positive outcomes for Banks, Trust Companies, Retirement/401k firms, RIA’s and their clients. You will also deliver impactful thought leadership and expertise regarding key industry topics that include product, platform, technology, operations, and business management principles. With your knowledge and commitment, you will become a collaborative and resourceful member of our regional team, sharing best practices and driving successful regional results.
The Expertise and Skills you bring:
Bachelor’s degree required
We prefer associates to have 8+ years of Relationship Management or Sales experience; preferably within the Bank Trust and Retirement/401k industries
Series 7 and 63 licenses required
Deep understanding of banks, trust companies, retirement firms and RIAs – including service, technology, investment and back-office operations
Direct experience in RIA, Custody or Brokerage industry
Experience in delivering practice management consulting
Experience with executive level engagement
Proven track record in building and handling relationships with demanding and complex clients, including with the highest level of decision makers
Ability to develop a comprehensive, customer-centric relationship management strategy and business plan for each client
Proven ability to be successful with clients and prospects in face-to-face meetings, virtual, phone based and/or email interactions
Executive level engagement and experience
Financial business analysis and/or consulting experience
Institutional brokerage operations experience
Strong communication and listening skills, with ability to influence and proactively create client interactions
Strong at multi-tasking, project management with utmost attention to detail
Ability to identify and handle risk situations; including the acumen of when and how to handle internal escalation
Acumen for financials including client P&Ls; ability to manage client P&L with actions tied to an account plan
Demonstrated ability to develop and implement business plans that prioritize key initiatives and drive business results
Interest in and an understanding of financial markets
Proven ability to build and leverage internal and external networks
30%- 60% travel required
Demonstrate the highest levels of engagement with the team and dedication to service
Provide overall client accountability and book management of a portfolio of clients
Develop and implement business plans to meet and exceed goals for your book of business
Prioritize clients accurately and develop territory management strategies
Develop key strategic relationships with the principal decision makers of each client relationship
Provide proactive consultations to senior individuals within each relationship by clearly prioritizing a strategic plan and objectives. Develop true partnerships by helping clients successfully lead and build their business while improving the business relationship
Grow assets under administration (AUA) and find opportunities to convert to assets under management (AUM) by working closely with sales and the investment teams
Be an executive level presence; manage board-room type meetings with c-suite executive teams
Maintain key relationships at the c-suite; provide strategic client engagement strategies; use service as an opportunity to drive strategic engagement
Accurately identify, plan, influence, and implement Fidelity solutions
Establish and demonstrate value and differentiation from our competitors
Responsible for documenting client activities, business opportunities and all communications with clients in the CRM on a timely basis
Develop referrals from existing client relationships
Note: Fidelity is not providing immigration sponsorship for this position
The Team
Fidelity Institutional is a leading provider of product, platform, and technology solutions to registered investment advisors (RIAs), retirement recordkeepers, broker-dealer firms, banks, trust companies and insurance companies. You will be part of a business that offers access to a comprehensive set of products and services, innovative investment tools and research, an integrated brokerage and trust platform, and dedicated client service professionals - all designed to help our clients thrive.
The Client Relationship Group (CRG) team has associates in locations across the US. The largest site concentrations of associates are in Boston, MA and Westlake, TX , but associates are also located in several other regional sites across the country. The Vice President of Relationship Management would be responsible for managing a complex group of large institutional clients consisting of banks, trust companies, retirement firms, and RIAs that leverage Fidelity’s custody platform.
This book of business will consist primarily of banks and retirement/401k firms. Additionally, there will be some RIA firms as part of the portfolio and the client list could expand to include other business models. We help our clients thrive by supporting the growth of their businesses, enhancing operational efficiency and profitability, and helping them more effectively meet customer needs.
The base salary range for this position is $120,000 - $200,000 per year.Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.
Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.
We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home. These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career. Note, the application window closes when the position is filled or unposted.
Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.
Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.