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The Business Succession and Exit Planning Advisor is responsible for developing business succession / exit plans for existing and prospective clients of First Financial Bank. Key responsibilities include developing a deep knowledge of the client's personal and business situation in-order to structure a comprehensive succession / exit plan that maximizes the benefit of business owner clients. This position is also responsible for aiding business expansion efforts of the Wealth Management / Affluent Banking group.
Minimum Knowledge, Skills, and Abilities Needed to Perform Essential Functions of the Job
- Develops perspective on clients by gathering personal & business data / information on financial situation, goals, objectives, taxes, and risk
- Formulates comprehensive business succession / exit plans.
- Proactively & effectively communicates / manages / edits plan in accordance to client's situation / direction.
- Collaborates with internal and external partners / vendors to optimize plan outcomes and client advocacy
- Assists with Wealth Management / Affluent Banking lead generation / sales through cross-function collaboration, centers of influence, and personal contacts
- Delivers on Client Service Standards to maximize client satisfaction and drive retention and acquisition
Preferred Knowledge and Skills
- Ten (10) years of successful business succession / exit planning experience.
- Demonstrated knowledge of business ownership transitions, including strategies, tactics, legal / tax implications, and ownership outcomes
- Experience with various types of business appraisals utilizing valuation discounts
- Expertise in buy-sell agreements, including cross-purchase agreements, redemption style agreements and hybrid agreements
- Ability to comprehend complex corporate financial statements / stock-based compensation plans
- Demonstrated knowledge in ESOPS, redemptions, intra-family installment sales transactions
- Sophisticated financial / estate planning expertise, including GRATS, IDGT's, GST, and Dynasty Trusts
- Superb business acumen / relationship management expertise required
- Knowledge of investment solutions, risk management, asset allocation and cash flow planning.
- Extensive experience with financial planning software
- Creative thinking
- Problem solving
- Promote positive attitude, teamwork and collaborative environment
- Bachelor's degree required
Level of Complexity and ScopeDegree of Independence and Decision-MakingRequired Supervisory ResponsibilitiesPhysical RequirementsCompliance Statement
- Exceptional communication and presentation skills; able to effectively articulate sophisticated / complex planning strategies & concepts
- Bachelor's degree in Business or other related field of study required
- CEPA preferred or to be obtained in the first six months of employment
- CFP preferred
- MBA preferred
- Extensive business development experience
- Demonstrated commitment to professional development
- Demonstrated knowledge of industry practices and regulations
Development and Training
The associate is responsible for meeting all compliance requirements imposed on First Financial Bank by State and Federal law and regulation, as well as all related First Financial Bank policies and procedures. This includes all Bank Secrecy Act, Anti-Money Laundering, OFAC and Suspicious Activity reporting requirements, as well as all other lending and deposit compliance requirements.
It is our policy to not discriminate against any individual in violation of federal, state, and local laws as it relates to age, race, color, religion, national origin, sex, marital status, pregnancy, gender identity, disability, sexual orientation, genetic information, veteran/military service, or any other characteristic protected by law.
We are an E-Verify Employer.