David Collum Email & Phone Number

Westfield, Nj, Us

Bedminster, New Jersey, Us

Bedminster, New Jersey, Us

Managing Director - Wealth Operations and Service Delivery

 Team leader for Personal Custody business that has $6 billion in assets under administration covering 1,300 accounts and 400 relationships that generate $6 million in annual revenue.  Manage a team of 8 Custody Officers. Sourced over 100 relationships as cross sell or upgrade referrals to Sales, Banking and Investment Management colleagues that have resulted in over $400,000 in Investment Management fees and $170 million in banking deposit volumes.  Brought administration of accounts up to the required compliance, risk and policy and procedure standards.  Served as Business line User Acceptance Tester and product champion for new Client Relationship Management System that was rolled out in the Fall of 2014.

 Senior Analyst for Tri-State and Mid-Atlantic business lines that represented a combined $220 million in annualized revenue and $140 million in annualized expense. Presented financials in quarterly forums to entire Private Wealth Management Tri-State staff in large group setting. Ran Private Wealth Management Finance fee team of 5 employees (12/10 to 6/13) which was responsible for planning, forecasting and reporting on $650 million in annual fees across multiple products and business lines. Strategic partner for both short term and long term decision making process for Business managers across multiple areas of expertise including Asset Management, Banking and Fiduciary services. Integration subject matter expert for Bank of New York Private Bank business. Integration included multiple systems conversions including Trust accounting platform, finance reporting tool, numerous conforming accounting changes and entire banking system. Major player in successfully restructuring legacy BNY business into existing legacy Mellon infrastructure, which included moving over 500 employees and associated expense and 20,000 accounts and associated revenue. This included complex changes involving multiple systems, several accounting procedural and process changes and the creation of a new legal entity. Instrumental in implementation of synergy realization plan which resulted in approximately $20 million in direct and indirect expense reductions across multiple expense categories.

New York, Ny, Us

 Initiated the creation of the Annual Strategic Plan and implemented new strategies that arose as a result. Directed the creation of annual budget consisting of $200 million in annual revenue and $70 million in annual expenses and was responsible for ongoing monitoring and reconciliation and analysis of all revenue and expense items. Defined policies specific to cash and security related topics and was responsible for creation and implementation of resultant associated procedures. Spearheaded development of new procedures and managed process re-engineering to existing procedures on an ongoing basis to create operational efficiency. Served as Chairperson of the Private Bank Business Infrastructure Group which was tasked with reviewing all audit, compliance and legal issues that affected business lines. Business line representative to Audit, Compliance, Legal, Business Contingency Planning and Operational Risk Management sectors. Chairperson of Private Bank ClientFirst Team which was responsible for reacting to issues raised by business lines that required process re-engineering and/or technology solutions. Leader of Technology resource committee which was responsible for ensuring technology resources were being properly aligned with Strategic initiatives. Directed quarterly AUA/AUM reporting which included 27,000 accounts with a total market value of $120 billion and provided associated analysis for Private Bank and Asset Management Sectors. Led a team that implemented Trust re-pricing which resulted in annual revenue lift of $8.7 million annually. Created Sarbanes – Oxley audit test scripts for all auditable functions within Private Bank and Asset Management in conjunction with outside consultants and auditors and with internal audit staff to insure compliance with new regulations.

New York, Ny, Us

 Managed support area consisting of 22 employees that performed cash and security clearance functions for Private Bank and Asset Management. Created Cash Transaction Manual and trained entire staff of approximately 60 employees on new procedures. Developed annual budget which consisted of $27 million in annual revenue and $9 million in annual expense and performed reconciliation and analysis on an ongoing basis.

New York, Ny, Us

 Responsible for the daily administration of 250 personal custody accounts with assets totaling $500 million and overall revenue of $550,000.

 Assisted in the daily administration of over 600 individual, fiduciary and corporate custody accounts with total market value of $700 million and $750,000 in total revenue.

Bachelor'S Degree, English Language And Literature/Letters

High School