Manager, Bank Oversight at Vanguard

Malvern, Pennsylvania, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial Services, BankingIndustries

Requirements

Minimum of five years related work experience, with at least two years of broad banking related experience
Undergraduate degree or equivalent combination of training and experience (graduate degree preferred)
CPA, CTP, or other financial designation preferred
Prior people leadership experience required
Risk and control background
Project management experience
Passion for people leadership

Responsibilities

Hires, evaluates, and supervises crew; provides guidance and training to develop crew; sets performance standards, reviews performance, and makes informed compensation decisions in accordance with HR policies
Develops strategic objectives and short- and long-range goals in support of bank relationships; works with internal business units and global management to plan and execute operational plans supporting departmental, divisional, and corporate objectives
Provides consultative support to internal business units; assesses business needs and identifies service improvement opportunities
Partners with senior management to establish service expectations, structure, and target service levels; supports development of key reporting measures to capture internal client feedback
Establishes and maintains relationships with internal and external clients, business partners, and custody banks; develops and applies business unit's ideology and methodology to services in managing bank service relationships
Develops and maintains strong understanding of the industry; recommends process changes to reduce risk, lower costs, increase client satisfaction and efficiencies, and identify new solutions
Manages key projects and processes supporting oversight of Vanguard’s global bank partners, including global due diligence, SOC reporting, and custody board book preparation
Participates in special projects and performs other duties as assigned

Skills

project management

risk management

controls

due diligence

SOC reporting

people leadership

performance management

strategic planning

banking oversight

process improvement

client relations

Vanguard

Client-owned investment management firm offering low-cost funds

About Vanguard

Vanguard provides financial services with a focus on investment management. The company offers a variety of products, including mutual funds, exchange-traded funds (ETFs), individual retirement accounts (IRAs), and 401k rollovers, aimed at individual investors, financial advisors, and institutions. Vanguard's unique ownership structure means it is owned by its funds, which are in turn owned by the clients, allowing it to prioritize the needs of its investors over external shareholders. This model enables Vanguard to offer low-cost investment options, as it primarily earns revenue through management fees that are generally lower than industry standards. Additionally, Vanguard provides personalized investment advisory services, charging fees based on the assets managed. The company's goal is to help clients grow their wealth and achieve their financial objectives through effective investment strategies, while maintaining a competitive performance track record.

Kline Township, PennsylvaniaHeadquarters

1975Year Founded

SECONDARYCompany Stage

Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Best-in-class medical, dental & vision coverage

Onsite health clinic & fitness center

Health Smart Rewards program

Vanguard Retirement Savings Plan

Education Benefits

PTO

Family Planning Benefist

Parental leave

Personal development opportunities

Volunteer Time Off

Risks

Competition from AI-driven platforms like Writer challenges Vanguard's traditional advisory services.

Vanguard's stake in Steelcase exposes it to the volatile furniture market.

New active bond ETFs may struggle in a low-yield environment with increasing competition.

Differentiation

Vanguard is client-owned, aligning its interests with investors, unlike traditional firms.

The firm offers low-cost investment products, making it attractive to cost-conscious investors.

Vanguard's ownership structure allows it to focus on long-term investor value.

Upsides

Vanguard's new active bond ETFs offer diversified, low-cost fixed income options.

The acquisition of Steelcase shares diversifies Vanguard's portfolio into the furniture industry.

Launching the International Dividend Growth Fund appeals to investors seeking sustainable dividend growth.

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