Portfolio Manager - Team Lead (Wealth Management)

Portfolio Manager - Team Lead (Wealth Management)

Salary Range: $121,800 - $203,000 annually

At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.

Position Summary

The Portfolio Manager Team Lead will provide discretionary management for the most complex trust and high net worth portfolios in accordance with clients' unique needs, governing documents, firm guidelines and fiduciary standards. The Team Lead is an integral driver in the development and monitoring of the Bank's investment strategy as well as the construction of the fixed income and/or equity portfolios. This position is a leadership role.

Primary Accountabilities

People

• Manages a team of professionals in a customer-centric culture to excel in a fast-paced environment.

• Coaches, develops, and conducts performance management activities with direct and indirect reports.

• Identifies high-potential employees for advanced training and development opportunities.

• Effectively manages poor performers.

Client Engagement

• Establishes investment objectives, articulates tailored investment strategies, and provides recommendations and explanations of account performance.

• Leads the development and maintenance of client equity portfolios, conducting research and providing mentorship to Research Analysts.

• Effectively communicates and promotes our investment philosophy to clients, prospects, and centers of influence.

• Leads the Senior Portfolio Managers and Portfolio Managers in ensuring consistent client communication aligned with the broader investment team's views.

• Collaborate with Relationship Managers and Wealth Advisors to develop new business through clear communication of solutions and value propositions.

• Assists in coaching of Advisors on the Registered Investment Advisor (RIA) platform, fostering shared success in managing and growing their business.

• Serves as a subject matter expert in annuities, fixed income, equities, and various types of liquid and illiquid private assets to provide recommendations for complex portfolio solutions.

• Works closely with the financial planning team to integrate investment solutions into the financial planning process and ensure proper communication to clients.

• Maintains a current awareness of new investment strategies and instruments through regular contact with industry professionals and personal research.

• Identifies and refers business opportunities to other areas within the Bank as appropriate.

• Provides quality service in meeting customer needs, inquiries, and problem resolution.

• Develops content for investment newsletters, internal/external information pieces, and presentations in collaboration with third party sources.

Other

• Strictly adheres to compliance and operational risk controls in accordance with Bank and regulatory standards.

• The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.

• May require work in a Midland office to ensure collaboration and support of internal and external customers.

• Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).

• Other duties as assigned.

Position Qualifications

Education/Experience:

• Bachelor's degree or equivalent preferable in business or finance related studies.

• Advanced degree or professional certifications preferred (i.e. MBA, CFA (Chartered Financial Analyst), CIMA (Certified Investment Management Analyst), etc.)

• 10 or more years previous experience in investment management.

• Minimum 7 years experience in portfolio management that required making investment recommendations relied upon by others.

• Minimum of 5 years of experience leading teams with demonstrated success coaching and motivating team members.

• Skills in equity analysis, risk management, asset allocation, financial planning, portfolio construction, investment product due diligence and investment research.

• Expert level understanding of investments and portfolio management strategies, Modern Portfolio Theory, Prudent Investor Rule and Uniform Trust Code.

• Excellent oral, written, and interpersonal communication skills with the ability to instruct others, interpret documents, and write reports and correspondence.

• Excellent organizational and time management skills.

• Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.

Competencies:

• Business insight

• Cultivates innovation

• Drives results

• Makes sound decisions

• Being a brand champion

• Collaborates

• Communicates effectively

• Customer focus

• Being Authentic

• Emotional Intelligence

• Self development

• Being flexible and adaptable

At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company. We're proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.

If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at HR@midlandsb.com.

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT