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WIS Manager, Vendor Relationships and Operations
at Webster Bank
200 Executive Blvd South-HF433
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.
Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.
WIS Relationship Manager (WRM) has responsibility to manage and oversee third party and vendor relationships to ensure required due diligence and compliance to regulatory requirements are adhered to maximize WI efficiency, productivity, and asset and sales growth.. WRM will act as a primary liaison to the WIS Broker/Dealer, RIA, and Insurance Agency (LPL) for Vendor Management related to all aspects of the client relationship. WRM will also oversee all other WIS Third Party relationships related onboarding (RFP, etc.), ongoing vendor maintenance, and vendor termination as required. WRM should monitor all Service Level Requirements with WIS vendors to ensure standards are met and any issues are properly reported and remediated. WRM is responsible for analysis of ongoing regulation requirements (OCC, SEC, FINRA, DOL, State Requirements, etc.) related to overall trends, operations/marketing requirements. WRM will serve as a project lead and analysis for projects and work plans related to new products, new technologies, modifications required due to regulatory changes. WRM will be responsible to lead efforts for WIS product Due Diligence which primarily requires monitoring and oversight of BD/RIA product Due Diligence, but also includes WIS Product Review and WIS Product Risk Rating. WRM will review industry product trends, industry competitive analysis and WIS benchmarking. WRM serves as Chair of the WIS Product Due Diligence Committee and is a member of the Webster RNDIP Committee.
WRM will also have WIS Back Office Supervisory responsibilities. WRM will be the direct supervisor for the WIS Compliance Manager, WIS Operations Manager, WIS Business Information Analyst, and the WIS Sales Support Coordinator.
WRM will assist WIS Director and WIS RSMs with Project Management for all WIS projects and strategic initiatives.
- Manage relationships with WIS Strategic Third Party Partners and Product Vendors. Primary liaison for the WIS Broker/Dealer/RIA/Insurance Agency Entities.
- Problem resolution point of contact for WIS Strategic Third Party Vendors and Product Partners.
- Responsible for facilitating the successful resolution of any escalated contract, SLA, regulatory, or other related issue.
- Coordinate meetings with WIS "Strategic Vendors and Partners" to discuss long range strategy and current business plans. Coordinate meetings with potential vendors to identify potential relationship opportunities.
- Liaison to WBS Corporate 3PRM, Legal, IT, Compliance, Audit, SOX. and Risk Management for all relationship management activities including contracts, ongoing monitoring, incident updates, conversions, special projects, etc.
- Responsible for annual review of Broker Dealer SSAE18 including follow up on remediation.
- Develop and coordinate communications to WIS Product Partners for compliance standards, business developments, marketing campaigns and any pertinent information related to the WIS program.
- Assist in Coordination of Product Partner resources for Monthly Sales Meetings, support for marketing projects and sponsorship for sales events.
- Responsible for ongoing WIS Product Due Diligence and Product Risk Rating including Chair of WIS Product Due Diligence Committee and member of Webster RNDIP Committee.
- Perform research and analysis of regulatory changes and updates related to FINRA, SEC, DOL, OCC, and State Insurance and Investment Divisions.
- Responsible for all WIS entries and Partner Vendor responses in Webster Hiperos System.
- Project Management for WIS special projects and initiatives.
- Provide administrative support to WIS Director and WIS Sales Managers as well as special projects as required.
- Liaison to Product Vendors for coordination and review along with Marketing and Product development for any WIS branding or development of WIS proprietary products.
- Follow local and industry press and media related Investment/Insurance happenings and analyze relevance and impact on WIS.
WIS Back Office Operations Supervision
- Supervise the following positions in WIS back Office:
- WIS Compliance Manager
- WIS Operations Manager
- WIS Business Information Analyst
- WIS Sales Support Coordinator
- Bachelors degree required, Advanced degree preferred
- 5-8 years of related experience require
- Job Skills / Knowledge:
The incumbent should be:
- Able to communicate effectively and thoroughly
- Sensitive to follow-through and meeting deadlines & highly organized
- Creative and sales oriented with full knowledge of compliance and regulatory requirements
- Resourceful, motivated, enthusiastic and take initiative
- Proficient on Windows-based Word, Excel and PowerPoint; familiar with Access
Series7, 6, & 63/65, 24 and State Life Insurance license strongly preferred but not all required at onset of position.
Investment Industry knowledge and experience required