VP, Private Asset Management Regional Director

$172,500 - $241,000/Yr

TIAA - Frisco, TX

Full-time - Senior

Frisco, TX

1,001-5,000 employees

Securities, Commodity Contracts, and Other Financial Investments and Related Activities

About the position

The Senior Director, Portfolio Management, is a pivotal role within TIAA, responsible for overseeing a team of approximately 17-20 Portfolio Managers while supporting Wealth Management initiatives. This position requires a strategic partnership with the Managing Director to address key management issues and to shape the direction of the team. The Senior Director will play a crucial role in ensuring that the team meets its tactical objectives and delivers exceptional results. This includes contributing to the overall success of client management by fostering collaboration with Wealth Management and the Office of the Chief Investment Officer (CIO) to provide a seamless client experience. In this role, the Senior Director will guide the team to maintain high levels of energy and engagement as the business model evolves. Responsibilities include hiring, coaching, and motivating Portfolio Managers to exceed client expectations through effective client interactions and portfolio management, all while adhering to compliance standards. The Senior Director will ensure that the team complies with Trust Company policies and procedures as mandated by the Office of the Comptroller of the Currency (OCC), internal audits, and the Office of Investment Compliance (OIC). The Senior Director will also be responsible for meeting financial and business targets as outlined in the Private Asset Management scorecard, ensuring a distinctive and consistent client experience. This role requires the ability to anticipate trends that may impact client relationships and retention, recommending corrective measures to enhance the Portfolio Managers' delivery of optimal execution. Additionally, the Senior Director will drive efficiency and quality improvements in processes and systems to positively impact both the bottom line and client service. In terms of team management, the Senior Director will be involved in budget decisions, compensation, and performance evaluations, fostering a collaborative environment among team members. The role also includes leading assigned projects and ensuring timely execution. Effective communication and partnership with business partners, peers, and leadership across Wealth Management and the CIO office are essential for success in this position.

Responsibilities

• Guide a team to maintain energy and engagement as the business model continues to evolve.
• Hire, coach, and motivate a team of Portfolio Managers to exceed client expectations through client interactions and management of client portfolios, while meeting compliance standards.
• Ensure adherence to Trust Company policies and procedures as mandated by the OCC, internal audit and the OIC and OIOCC.
• Meet financial and business targets outlined in the Private Asset Management scorecard to ensure achievement of distinctive and consistent client experience.
• Anticipate trends that impact relationships and retention and recommend corrective measures to better position the PM for delivery of optimal execution.
• Drive efficiency and quality improvements in processes and systems to positively impact bottom-line and/or client service.
• Assist Portfolio Managers in reviewing and planning client cases by relying on their investment acumen related to global and national economies and markets.
• Involved in budget decisions for the team.
• Understand and communicate regulatory impacts for projects, initiatives, and ongoing routines from both the OCC and FINRA perspective.
• Responsible for compensation and performance decisions for the team, building an effective team committed to organizational goals, and fostering collaboration among team members.
• Take the lead on assigned projects, and work with a team to execute completion on time.
• Develop and maintain communication and partnership with business partners, peers and leadership across Wealth Management and CIO office.

Requirements

• 5+ years of client relationship experience in portfolio management and financial planning for high-net-worth clients.
• 7+ years of client relationship experience in portfolio management and financial planning for high-net-worth clients (preferred).
• 3+ years' experience managing centralized and field-based teams.
• Bachelor's degree in business or finance; MBA preferred.
• Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) certifications preferred.
• Excellent communication, relationship building and analytical skills.

Nice-to-haves

• Experience in managing teams in a financial services environment.
• Strong understanding of compliance and regulatory requirements in the financial sector.

Benefits

• Retirement plan
• Comprehensive health, wellness and work-life offerings
• Competitive compensation package including performance-linked incentives