Investment Services Specialist

Merchants Bank, Winona, has an opening for an experienced Investment Services Specialist.  5+ years of experience in the investment related field with a strong understanding of financial and insurance products. A Series 7 license is required.

This individual will serve as Registered Assistant to the Investment Executive team.  Responsible for providing professional development, administrative, and sales support There will be daily contact with customers, as well as our broker dealer, Osaic. Will also assist in maintaining and updating a process manual and guidelines. 

Requires a strong understanding of compliance in the financial industry.  Must be organized, have excellent verbal and written communication skills, and multitasking capabilities.  Must be detail orientated, able to prioritize tasks effectively, and have the ability to work independently and as a part of a team.  Ability to conduct all transactions of a highly confidential nature.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Please click on Apply Now or apply in person at Merchants Bank, Winona (102 E 3^rd Street). Questions can be emailed to hr@merchantsbank.com. Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Job Summary:

          This experienced individual will serve as a Registered Assistant to the Investment Executive team.  This position is responsible for providing professional development, administrative, and sales support to ensure smooth daily operations within the Investment Services department. Requires daily contact with customers, as well as our broker dealer, Osaic.

          Work is performed under direct supervision of guidelines and procedures set by the Investment Services Lead Assistant. 

Essential Responsibilities:

Professional Development:

• Establish brokerage accounts, including all necessary documents required to open a brokerage account.
• Strong knowledge of mutual funds, equities, and other investment and insurance products.
• Interact and network with customers and bank employees. Create a professional atmosphere in the brokerage area and with bank staff.
• Increase sales skills and marketing awareness.
• Understanding of compliance issues as required by regulatory agencies and Osaic.
• Attend training on product knowledge, sales ideas, time management, soft-sell skills, etc.

Administrative:

• Work with Investment Services Lead Assistant to maintain and update process manual and guidelines.
• Working knowledge of Osaic’s resources to be able to assist internal and external customers.
• Establish appointments and arrange schedules.
• Greet and welcome visitors in a professional and friendly manner.
• Performs initial check of paperwork for accuracy and completeness.
• Acts as a liaison between investment executive and clearing firm, fund company, and carrier to allow transaction to flow without interruption or delay.
• Assist with data entry, filing, and maintaining office records, per regulatory requirements.
• Service existing accounts; establish systematic investments and withdrawals; request distributions.
• Utilize money services for ACH or EFT movements for trade settlements.
• Create customer files. Create and update client database. Develop client lists.
• Log documents on Osaic office system.
• Ensure broker file retention requirements are met.
• Post the daily trade blotter and activity sheets. Maintain a daily tracking of customers’ orders. Keep customer and security holding sheets.
• Document checks, stock certificates, legal documents, and other forms.
• Send out professionally prepared correspondence or marketing pieces as needed; organize and prepare mailings.
• Run sales illustrations for clients.
• Interaction with Osaic home office staff regarding customer needs and questions.
• Create and distribute reports to bank staff and management.
• File, fax, copy materials, and maintain an organized work area.

Sales and Marketing:

• Make proactive calls to customers regarding their needs. Maintenance calls for updates and reviews, and ask about any concerns or needs they may have.
• Help in the design of letters, marketing materials, and other advertising pieces.
• Assist in designing materials for customer and prospect seminars and events. If assisting in seminars, may require time outside of regular office hours.
• Back-up for sending out birthday, anniversary, congratulations, seasonal and thank you cards to prospects and customers.
• Help prospect customer over the telephone and set up appointments.
• Maintain a database of product and service providers and wholesalers; name, address, phone numbers.
• Monitor bank referral process and acknowledge sales leads.
• Maintain a high-touch environment with new and existing customers; play proactive role in helping the Investment Executive schedule client and prospect appointments, assist with completing meaningful client/prospect touches or contacts per day (calls or written correspondence).

Required Competencies:

          5+ years of experience in the investment related field with a strong understanding of financial and insurance products. A Series 7 license is required. Familiarity with CRM systems preferred.  Proficiency in Microsoft Office Suite required.  Excellent verbal and written communication skills.  Strong organizational and multitasking capabilities.  Detail orientated and able to prioritize tasks effectively.  Ability to work independently and as a part of a team when appropriate.  Good time management skills. Ability to conduct all transactions of a highly confidential nature.

Physical Working Conditions & Demands:

          Inside working environment, low machine noise, high traffic area.  Customer exposure. Primarily requires sitting at desk, high degree of finger dexterity.  Will generally not require any lifting of more than 10 lbs.  Terminal/PC work requires good eyesight/ability to focus quickly.

Relationships:

          This position is a direct report of the Investment Executive Lead Assistant for fulfillment of duties, responsibilities, and authority.  Will work closely with Investment Executives to meet customers’ needs.