Senior Relationship Manager recruitment
PRIMARY PURPOSE OF THE POSITION
The Senior Relationship Manager (SRM) serves as the senior contact at T. Rowe Price for a portfolio of large and complex RPS full-service, defined contribution institutional clients (significance based on plan size of greater than $150 million in AUA and revenue generation of $8 to $20 million annually) and is ultimately accountable for the clients’ overall satisfaction with our services. The SRM is expected to demonstrate broader leadership qualities and have an impact beyond his/her assigned client portfolio by developing and/or sharing best practices, coaching more junior Relationship Managers and contributing to department and Retirement Plan Services (RPS) initiatives. The SRM is responsible for the delivery of top tier service, strategic support and value-added consultation to these clients, with the objective of retaining, expanding, and maintaining sustainable profitability for the relationships.
PRINCIPAL RESPONSIBILITIES
Manage and deliver proactive client service and strategic account management which is critical to maximizing client loyalty, retaining and expanding relationships, and achieving sustainable profitability for the firm. This includes assessing relationships on the basis of satisfaction, risk, decision maker penetration, and expansion opportunities; developing and maintaining client business plans to achieve objectives for each relationship; supporting clients with the development of annual strategic plans; harnessing TRP’s thought leadership, intellectual capital and best practices to develop solutions for clients; consulting with clients on investment vehicles, participant services and plan solutions that will enhance the client’s plan design and maximize the retirement benefit offered to their employees; support the client with managing their broad fiduciary responsibilities by consulting on legislative and regulatory requirements, reviewing the investment options offered in the plan on a regular basis, and monitoring of plan related fees.
Cultivate and expand TRP’s relationship with the “economic buyers” in the client’s Human Resources and Treasury organizations, including the Retirement and Investment Committees, “C” suite executives, external consultants and advisors, and other decision makers.
Identify vulnerable client relationships, assess the degree of vulnerability, and leverage the firm’s internal resources and organization to develop and execute a strategy which will result in high client retention levels.
Contribute to RPS’s revenue growth by managing client rebid situations so as to maximize client retention and capitalize on opportunities to expand the relationship. This includes leveraging relationships with client decision makers and consultants/advisors, as well as developing and executing sales strategy in partnership with RPS Sales. Collaborate with RPS Sales to support the acquisition of new business relationships. Gain access to affiliated company retirement plans (i.e., pension plans, defined contribution plans for subsidiaries or sister companies, etc.), investment mandate opportunities and other opportunities that will broaden TRP’s relationship with the client’s organization.
Provide support through client specific situations and challenges, including positioning service and/or product solutions that offer mutual value for both client and TRP, moving the client towards commitment of business strategies through influence and relationship building skills, and effectively managing actions to completion. Lead cross functional service team (RPS Operations, Participant Communications, Compliance and Implementations) to ensure consistent, top tier service delivery, as well as manage issues, inquiries and ad hoc projects to the client’s satisfaction. Demonstrate broader leadership qualities and have an impact beyond their assigned client portfolio by developing and/or sharing best practices, coaching more junior Relationship Managers and contributing to department and RPS-wide initiatives.
QUALIFICATIONS
Required
- Bachelors degree
- 10-15 years of related work experience in institutional client service and the retirement industry and 5 years of relationship management experienceSuperior communication and presentation skills
- Retirement plan industry experience
- Ability to develop, articulate and implement strategy to optimize client relationships
- Ability to work effectively as a member of a team
- Ability to use analytical tools and industry publications to gather information to be used in client communications and to think independently and proactively about how to best convey information
- Exceptional client service skills
- Exceptional consultative skills
- Proven track record of success in maintaining and enhancing institutional defined contribution relationships
- Ability to influence and negotiate towards outcomes that are mutually beneficial to the client and TRP
- Creative problem solving skills
- Demonstrate confidence and executive presence in external and internal business interactions
- Ability to manage multiple tasks
- Ability to assimilate and apply the high volume of information pertinent to the defined contribution industry, which includes industry trends, legislative and regulatory topics, administration and operations, participant communications strategies, and investments
- Series 7 and 63 obtained within 6 months of hire into position
Preferred
- MBA or advanced degree
- Professional designations, such as ASPPA Certifications (QKA, QPA, CPC, QPFC), CEBS, CFP, CPA)
- Experience working in an investment management firm
- 15 plus years of defined contribution related experience and 5 plus years of relationship management experience, managing mid / large market client relationships ($50 -$150mm in assets and above)
Please hit APPLY ONLINE below and enter Requisition ID 02392
T. Rowe Price is an Equal Opportunity Employer