Privately Held Business Manager – Commerce Trust Company Commerce Bank

Description

Job Category: Grade 10
Location: 8000 Forsyth, St. Louis, Missouri 63105

The Commerce Trust Company, a division of Commerce Bank, is ranked among the top 25 investment advisors in the U.S. with over $62 billion in client assets. The Commerce Trust Company concentrates on serving individuals, families, business owners and institutions investment management needs through a combination of world-class capabilities and resources, objective advice, customized solutions and unparalleled service.

As Manager of the Commerce Trust Company’s (“CTC”) Privately Held Investments Department (“Department”) you will serve as a subject matter expert and be responsible for leading the operations and team of analysts and advisors that specializes in providing consulting, analysis, and oversight of illiquid and family-owned business interests (“Investments”) held and managed in various capacities by CTC for our high net-worth clients. As a senior leader in the organization, you will support the continued growth of our business through collaboration with market executives, advisors and sales professionals where new business opportunities include private investments and business advisory services.

Company Bio: Commerce Bank

Wouldn’t it be great to build your career at a bank that’s known for helping people with their financial challenges? That’s exactly what you’d be doing when you join the team at Commerce Bank. We’re looking for teammates who are ready to do whatever it takes to help our customers with their everyday financial needs. You’d be helping yourself too, because Commerce has a tradition of recognizing and rewarding team members for their talent, skills and contributions.

No wonder we’ve been an industry leader for over 150 years and have developed a reputation as a great place to work in the financial services world. If you’d like to be a part of a team and culture that is respected by its peers and in your community, we should talk. We’re always looking for the best and brightest.

Responsibilities

  • Responsible for overseeing the completion of business valuation engagements as necessary for gift/estate tax purposes, tax planning and transactions and other consulting services where Commerce is hired on a contractual basis to provide such services
  • Responsible for ensuring compliance with all CTC policies and procedures, and all applicable state and federal banking regulations in the context of their responsibilities
  • Provide expertise in evaluating new business opportunities with respect to these specialized investments and coordinating pre-acceptance due diligence and making recommendations on acceptance
  • Manage an assigned book of business, consisting primarily of key client relationships that have significant holdings in terms of value/complexity/ownership of privately-held investments
  • Serve as member of the Special Assets Committee, which has oversight responsibility for periodic reviews and actions related to investments managed by the Department
  • Lead, mentor and motivate team members to implement the department strategy and manage department workflow with guidance on departmental projects/issues, and provide coaching and development opportunities appropriate to each direct report's individual needs
  • Perform all necessary management functions, including hiring, evaluations, annual increase allocations and disciplinary action as required
  • Communicate decisions, priorities and relevant information to team members effectively
  • Support budget management, planning and expenditure
  • Perform other duties as assigned

Work Schedule

  • Monday - Friday, 8:00am-5:00pm

Qualifications / Requirements

  • Advanced knowledge and understanding of entity-level financial statements and tax reporting for corporate and pass-through structures
  • Advanced knowledge of business terms, trust and investment relationships and ability to interpret and summarize provisions of complex legal trust, real estate and corporate business documents
  • Broad knowledge of fiduciary responsibilities as they relate to the management of closely held businesses held in trust/wealth management accounts
  • Advanced knowledge of trust services including administration, tax and investments and capacity to identify problems and recommend solutions in an advice-based context
  • Advanced knowledge of the investment field, securities valuation and real estate management gained through participation in the CFA, ASA, CTFA, CPM, CCIM or other specialized program desired
  • Advanced knowledge of Trust/Estate planning as it relates to the closely held business owner
  • Ability to establish strong business relationships with internal partners and stakeholders
  • Proven ability to lead employees, preferably in a multi-market environment
  • Strong critical thinking skills with the ability to apply discretion and sound judgment to efficiently and effectively solve problems
  • Ability to drive results and balance management of organizational risk and meeting goals of the business
  • Strong leadership skills with ability to motivate team members and foster a positive team environment that gives way to collaboration and unified goals
  • Outstanding interpersonal and relationship building skills with the ability to effectively communicate with all levels of the company, clearly expressing ideas and concepts both verbally and in writing
  • Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that is aligned with our culture and Core Values
  • Intermediate level proficiency with Microsoft Word, Excel and Outlook

Education and Experience

  • Bachelor’s degree is required, Masters degree is preferred
  • 10+ years in Trust, Banking or Wealth Management or Consulting experience required
  • Accreditation from investment, trust, or real estate-related society such as CFA, CFP, ASA, CTFA, CPM, CCIM a plus

Click here to apply!