VP Wealth Mgmnt Chief Investment Officer
Primary Duties of the Chief Investment Officer
- Responsible for the day-to day Investment Team functions, providing assignments and distributing workload.
- Performs all duties required in properly executing the investment management function.
- Exercises prudent investment practices and unbiased judgment in managing client portfolios. Complies with the terms of governing instruments, fiduciary principles, regulatory requirements and Bank policies.
- Develops and implements investment philosophy, strategies, policies and procedures.
- Discusses plans and recommendations with senior management, investment and administrative officers. Secures agreement and approvals. Prepares documentation and presents to the Trust Committee for ratification.
- Utilizes investment analytical services and information sources in evaluating characteristics and performance of stocks, bonds, mutual funds and other investment vehicles. Acts as the department expert relative to all investment systems including investment performance tracking,modeling, research, the Bloomberg & Thompson System.
- Develops guide lists of investments which may be utilized in management of client portfolios. Determines applicability, implements and monitors performance.
- Develops model portfolios which may be offered at the account level and/or serve as a guide in developing specific portfolio recommendations.
- Keeps abreast of developments and events that may influence investments. Evaluates and determines how they may impact the Bank’s investment function, recommends appropriate response.
- Evaluates quality of Investment vendor services, recommends changes, additions or deletions. Analyzes service offerings, costs/benefits, contract provisions. Recommends appropriate actions to senior management.
Manages client / composite portfolios:
- Develops investment recommendations consistent with prudent investment practices, account characteristics, Trust department and client investment policies, risk tolerance, and investment goals of the client.
- Prepares investment programs, documents recommendations and executes. Initiates changes as needed.
- Secures customer, Investment Committee or Trust Committee approvals when necessary.
- Monitors performance of individual investments and overall portfolio.
- Manages an unrestricted composite portfolio of both equities and fixed income to be measured against relevant benchmarks.
Prospect and Client Presentations & Proposals
- Produces or assists in the production of presentation materials utilizing both print and electronic media.
- Prepares investment proposals for prospective clients and in response to institutional RFPs.
- Actively participates in client presentations either solely or in conjunction with the Trust Officers.
New Business Development
- Assists in the departments new business development efforts in conjunction with other members of the WM team but primarily with the new business development officers.
- Through participation in community and industry-related activities, identifies and cultivates referral sources, both inside and external to the Bank.
- Actively pursues or refers leads to person(s) most likely to close the business.
- Team Development: motivate personnel and promote workplace enthusiasm; provide opportunities for professional growth through education/training; provide the tools/skills (cross train) necessary for employee growth at USB.
- Perform the following HR processes: performance/incentive/introductory period reviews, career development, training, disciplinary/corrective actions.
CFA Preferred but not rquired
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