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Fintech Private Client Account Manager

Silvergate Bank helps innovative entrepreneurs within the financial technology, blockchain and digital currency industries to realize their dreams. Our team of professionals provide consulting and banking services for venture backed and private equity clients that are daring enough to build legendary companies.

Create value for customers: The Private Client Account Manager (PCAM) is responsible for the overall customer journey and experience. This begins with business development activities for prospective new customers, performing due diligence procedures and extends through all interactions with the client until the account is opened. The PCAM will continue to maintain a relationship with the client and work with the Private Client Service Manager (PCSM) to create value for customers. The PCAM is responsible for:

  1. Building trust with clients and prospects
  2. Building trust with internal departments (Fintech, Compliance, Operations)
  3. Perform due diligence required to gain client approval from Compliance
  4. Perform client onboarding to ensure that accounts are opened in a timely and compliant manner
  5. Product knowledge and ability to explain how the Bank provides value to customers
  6. Ability to explain pricing and negotiate with customers
  7. Identifies problems early in the process and efficiently works towards a resolution

Advocate for customers: The PCAM is responsible for being the “voice of the customer” as it relates to product and process decisions. This may include the introduction of new products and services and the customer research that is required in order to bring them to market. Providing banking services to private clients also requires frequent interaction with Compliance, Cash Management and Technology personnel. The role of the PCAM is to listen to these supporting functions and to provide the client’s perspective. Often, a healthy dialogue is needed in order to figure out the best way to efficiently and effectively serve clients in this space. Once internal decisions have been made, the role of the PCAM is to communicate the impact of these decisions to clients in the most effective manner possible.

Ensure risk mitigation: The PCAM is responsible for understanding the nature of each client’s business and associated risks to Silvergate Bank. Using this knowledge, the PCAM should work with Compliance and Operations functions to mitigate risks and ensure that the client’s activity is consistent with bank policy, applicable laws and regulations. This includes an overall awareness and monitoring of customer interactions for early indicators.

Achieve deposit goals: The PCAM is responsible for working with the VP to achieve deposit goals for individual clients and the group as a whole. This is accomplished by providing tremendous value for clients, as outlined above, and by working to understand each client’s business model, their needs and progress towards goal achievement. The PCAM should be bold in asking for the deposit and hold the client accountable for following through but with understanding about the amount of effort and time required to raise capital.

ESSENTIAL DUTIES and RESPONSIBILITIES-The tasks, duties and responsibilities of the position that are most important to get the job done.

Responsible for Private Client Services-In addition to the summary shown above, the Private Client Account Manager should:

  • Maintain knowledge of all documentation required to open a business and/or personal account for Fintech customers, including auxiliary products that customers may require such as online banking, ACH origination, account analysis, etc.
  • Maintains knowledge of wire transfer processes and procedures, both domestic and foreign, including foreign exchange conversion processes.
  • Ability to communicate clearly and concisely both orally and in writing
  • Assists in the review of Private Client business account files to assure that all documentation has been received and proper CIP/OFAC has been performed in accordance with current policies and procedures.
  • Responsible for assisting in the retention and expansion of existing customer relationships through the provision of excellent customer service.

Responsible for Operational Efficiency, Compliance Procedures and Complying with Regulations

  • Maintains current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures
  • Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
  • Ensures accuracy of all communications with clients
  • Ensures optimum productivity and accuracy in regards to client transactions
  • Ensures prompt and appropriate error resolution
  • Maintains comprehensive knowledge of the Bank’s products and services
  • Responsible for the retention and expansion of existing customer relationships through excellent customer service
  • Assists in the review of customer account files and ensures that all documentation has been received and proper CIP/OFAC has been performed in accordance with current policies and procedures

Is a Creative Problem Solver:

  • Resolves client complaints and Bank errors promptly and appropriately
  • Ensures problem resolution balances client service and risk management

Exhibits Superior Time Management Skills:

  • Sets goals and works strategically
  • Delegates when appropriate, and exercises effective follow-up
  • Meets deadlines
  • Manages workload in a productive manner

Manages Internal Controls to Ensure Passing Audit Results

Minimizes Controllable Losses Through Compliance to Policy and Procedure

Complies with the Bank’s Bank Secrecy Act and Anti-Money Laundering policies and procedures as applicable to the job function

The responsibilities listed above although representative of the job position may not be all-inclusive and may change from time to time.

 

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