Job Abstract

Mechanics Bank is currently searching for a Investment Oversight Manager to join our team. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. This role will be working on-site at our San Francisco Branch.

The Investment Oversight Manager is responsible for ensuring the investment management group and RIA program comply with internal policies and procedures and regulatory guidelines. This role is responsible for performing due diligence on RIAs and ensuring a smooth onboarding of the RIA to Mechanics Bank. The Investment Oversight Manager identifies investment exceptions through review and ongoing monitoring and escalates accordingly, establishes risk indicators to report to management and works closely with the QA team to ensure all investment processes are accurate and can be reported. This role is responsible for ensuring initial and annual regulatory reviews are conducted in a timely manner and the establishment and review of Investment Policy Statements is inline with internal guidelines. This role will will assist with the preparation and presentation of investment matters to the Trust Investment Sub-Committee (TIC) and Trust Administration Committee (TAC) meetings and will be instrumental in the coordination with examiners and auditors regarding investment processes. The Investment Oversight Manager works closely with Senior Director of Investment Management to improve investment processes and maintain policies and procedures for all investment processes.

What you will be doing:

• Perform due diligence on new and existing registered investment advisors (RIA) engaged to manage investments in trust accounts. Assist with onboarding of new RIAs to the platform.

• Responsible for ongoing review and monitoring of Investment Policy Statement implementation and adherence to procedures.

• Identify investment exceptions through review and ongoing monitoring, create, maintain and track exceptions on tracking spreadsheets and on watch list and correspond with investment management group, RIAs, Trust Officers and management to resolve exceptions. Ongoing monitoring includes: performance, asset allocation, concentrations, best execution, and cash level reports, etc.

• Performs initial and annual reviews for all trust investment portfolios where a Registered Investment Advisor (RIA) is engaged. Oversees the initial and annual reviews for all trust investment portfolios where the investment management group is engaged.

• Work with QA team to ensure investment management processes and outcomes are accurate and can be quantified and reported.

• Coordinate and assist with preparation of, and present at, monthly Trust Investment Sub-Committee (TIC) and Trust Administration Committee (TAC) meetings.

• Assist with establishing Key Risk Indicators (KRIs) for investment management offerings and report period KRIs to senior management.

• Assist with collection of supporting documentation and responses for regulatory exams and annual audits including assisting with the completion of requested items from the entry letter, ongoing questions, responding to final recommendations and citations, implementing management’s responses.

• Oversees the creation and maintenance of all policies and procedures relating to investment management and RIA offerings within the Wealth Management platform.

• Work with Sr Director of Investment Management to improve investment processes within Wealth Management platform. Identify opportunities to improve efficiencies, best practices, etc.

Who you are:

• Bachelor's Degree highly preferred

• 5 years of relevant experience

• CFP, CFA, CIMA, MBA or AIF highly desirable

• Ability to disseminate information and guidelines clearly to employees and check for understanding.

• Manage multiple tasks and projects simultaneously.

• Ability to communicate clearly and effectively with multiple internal and external stakeholders.

• Proficient with MS Office suite and Internet.

• Possess excellent human relations, communications and business writing skills.

• Possess effective time management and organizational skills.

• Able to cope with pressure resulting from meeting required deadlines and reporting requirements.

• Demonstrate teamwork in facilitating workflow. High level of cooperation with others and responsive to the Bank’s needs.

• Exemplary motivation, enthusiasm, and professionalism.

• High level of accuracy and great attention to detail.

• Strong analytical and problem solving skills.

• Able to make and support sound decisions.

• Consistently demonstrate tact, discretion and good judgment.

• Exhibit high degree of professionalism and confidentiality in handling and having access to sensitive information.

• Demonstrate excellent customer service skills.

• Able to work effectively without direct supervision.

• Able to comprehend and interpret Bank policies and procedures

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Salary: $110,000-160,000 annually

Final compensation package will be determined by the work experience, education, and/or skill level of the applicant along with internal equity and alignment with geographic market data.

• Mechanics Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, religion, national origin, age, genetic information, veteran status, or on the basis of disability, gender identity, sexual orientation or other bases prohibited by applicable law.
• Please view Equal Employment Opportunity Posters provided by OFCCP here.
• To learn more about Mechanics Bank’s California privacy and security policies, including your right to a Notice At Collection as a California Resident, please visit https://www.mechanicsbank.com/California-Consumer-Residents