Partner Colorado Credit Union
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Description
SUMMARY DESCRIPTION:
The Relationship Manager is responsible the management of the relationship with Safe Harbor Service’s partner financial institutions. This is to include on-boarding for the partner FI, servicing accounts that intend to transfer to the partner FI, training and transfer of information between Safe Harbor Services and the partner FI. The Relationship Manager will be responsible for the Quality Control of accounts that are on-boarded at the FI, if requested. The Relationship Manager will also be responsible to maintain a portfolio of accounts for training purposes and additional income for the Safe Harbor Services Program. The Relationship Manager will be required to collect, assess and maintain corporate documents for cannabis related businesses as part of Safe Harbor Services centralized onboarding services. The Relationship Manager will be required to help collect documentation that ensures Safe Harbor Services and its financial institution partners meet and/or exceed FinCEN know your customer rules. The Relationship Manager will be required to evaluate all documents collected to ensure that the risks associated with providing banking services to CRBs are minimized and that Safe Harbor Services, its CRB customers, and those financial institutions for which Safe Harbor Services provides onboarding services are complying with all applicable rules and regulations. The Relationship Manager will be expected to provide service at private Program Specialist levels that will exceed the normal banking relationships in the market, ensuring a long-term loyal client relationship. The Relationship Manager is expected to KNOW the client business thoroughly by demonstrating knowledge of, among other areas, current operations, ownership structure, financial conditions, local marijuana regulations, growth plans, changes in operating environments, regulatory conditions and their basic service needs. The Relationship Manager must be able to communicate and summarize information about the CRB customer so as to transfer the KYC information to partner financial institutions effectively and efficiently. The Relationship Manager will also be responsible for providing services and training for the financial institution partners to which they are assigned. These services include but are not limited to documents transfer, on-site and virtual training and development, coordinate transfers of accounts and manage the transfer process, implementation of the Safe Harbor program into the partner institution.
Position Duties
DOCUMENT MANAGEMENT:
Relationship Manager will collect and evaluate corporate documentation and determine risk levels associated with the evaluation of corporate structure, financials and practices working closely with prospective CRB customers, other Relationship Managers, the Implementation Manager, the Vice President, the PCCU BSA Officer, and President, as well as, representatives from partner financial institutions for which Safe Harbor Services provides centralized on-boarding.
Relationship Manager will timely collect up to date documents on each prospective CRB customer assigned to be onboarded as required by the Safe Harbor Program, as amended.
Relationship Manager will determine when additional supporting documentation is required to ensure practices are in place to ensure the safety and soundness of the relationship between customer and Safe Harbor Services and any partner financial institution.
Relationship Manager will determine when documentation is insufficient to sustain a safe and sound relationship and will continue to collect documents until each customer’s due diligence file is complete.
Relationship Manager will review and evaluate financial documentation (income statement, balance sheets and tax documents) for interpretation of the business activities and resulting financial transactions that may impact the credit union.
Relationship Manager will create a summary of each onboarded account in the form prescribed by Implementation Manager.
SERVICE
Relationship Manager will be required to meet standards of a private banking model to include:
Clear and concise communication with prospective CRB customers and any individual who may be involved in the onboarding process whether internal or external.
Documenting interactions with prospective account holders in order to minimize duplicate requests for information from customers and in order to ensure teammates are informed of account opening status.
Completing forms for client signatures when doing so will facilitate the completion of a client file more efficiently.
Understanding and taking an interest in the future of the business.
Ensuring Safe Harbor Services product and services meet the needs of the client as they grow.
Ensuring financial institution partners fully understand and can demonstrate that they know the customer upon transfer of the customer due diligence file.
Maintaining and retaining customer due diligence files in a way that ensures continuity of service.
Completion of onboarding process within the time frame provided by Implementation Manager, as amended.
Monitoring, validation, and on-going due diligence on accounts being serviced by Relationship Manager.
Additional Duties
Assist in the development of the training program for Safe Harbor Services to include but not limited to on-site training, virtual training, automated training sessions, training documents, tracking of training hours, etc.
Assist in the implementation of the Safe Harbor Services program into partner financial institutions.
Assist in the development and implementation of the Safe Harbor Software.
BSA/FINCEN GUIDELINES
Relationship Manager will be required to know the regulatory guidelines sufficiently to apply to all prospective account and client activities.
Relationship Manager will be required to maintain BSA Certification.
Relationship manager will be required to uncover or discover issues that may trigger additional due diligence.
Relationship Manger will need to understand the ramifications of banking the industry on both a personal and professional level and protect the organization and themselves from any legal action.
Relationship Manager will be required to monitor the industry for changes and trends that may impact banking in each state that onboarding services are provided.
BUSINESS EDUCATION
Assist CRBs with determining services needed and making formal recommendations to the manager for approval.
Assist CRBs with merchant services.
Assist businesses with understanding the Safe Harbor Services model, required documentation and the objective of maintaining an above reproach level of transparency.
Expectations
Timely meet or exceed onboarding targets as provided by Implementation Manager and as required to meet Safe Harbor Services business needs.
Maintain confidentiality on policies, procedures and business model.
Maintain confidentiality of all information provided by prospective account holders.
Review and have an advanced understanding of business financials.
Assist with the training of other Relationship Managers as required.
Review news online on businesses to ensure full awareness of business activities and status.
Document all business activities to the satisfaction of auditors and examiners.
Adhere to the institution privacy policy and signed NDAs with clients.
Be prompt and always follow through with members either verbal or otherwise.
Maintain a private banking atmosphere for the client.
Requirements
QUALIFICATIONS:
Business account knowledge
BSA Certification and understanding
Bachelors Of Business Degree Preferred, But Not Required
Ability to self-train on this new industry and apply knowledge to protect Safe Harbor Services
Ability to STRICTLY follow and adhere to regulatory guidelines and rules surrounding the service to this industry.
Knowledge & Skills
One year of experience in a financial institution.
High school graduate.
Capable of preserving confidential or sensitive information.
Effective time management, organization and multi-tasking skills.
BSA Certified.
