JOB SUMMARY / INTRODUCTION
The Private Banker focus is to develop business across diverse markets / regions within all areas of private clients, family offices of UHNWI & HNWI, especially with different offshore and onshore locations ranging across numerous booking centers, which is highly competitive and appealing to the regional and international customer base.
- To achieve superior sales revenues / AUMs above a predetermined target & increase FAB’s market share.
- To provide clients with an above optimum level of service & full investment solutions.
- Identify/segment target markets, develop business to widen portfolios & implement the strategic /marketing plan for Private Banking.
- Building [own] & managing a portfolio of UHNWI & HNWI & provide maximum personalized services.
- Maintain /expand current/future client base, acquire net new business via referrals, contacts & marketing.
- Proactively enhance PB’s offerings [Group and/or Open Architecture] by initiating & supporting internal processes & workflows.
- Successful Private Bankers should be able to demonstrate their “Hunting” and “Farming” capabilities to ultimately deliver AUMs and revenue streams based around the sophisticated/tailored trilogy of private banking platform.
- Optimum level of relationships managed after a period of 4 years
KEY RESPONSIBILITIES
- To maintain & develop a client base of HNWI & UHNWI providing excellent service in order to develop net new business to the group + obtain/maintain business via referrals & recommendations within the Group.
- Manage specific projects End to End / 360 Degrees including the managing / liaising of other group colleagues.
- Develops new business through own sources, existing professional connections, and introductions via the bank with strong inter-personal skills and experience at both generating new business and managing high profile client relationships.
- Opportunity spotting externally & from within the Group.
- The individual will always promote the 3 main businesses of Private Banking, marketing & business development to clients for both Offshore [Switzerland] & Onshore [UAE].
- Coordinates & promotes prospects & business with other RMs as well as other Group coordinates Globally.
- Promotes the cross selling between Group branches/offices in the Gulf & elsewhere Globally.
- Develop & maintain strong relationships with decision makers in key positions & turns relationships into sources of referral [inwards / outwards].
- Identifies target markets, develops new business, increases wallet share of existing clients, & implements the annual marketing plan.
- Initiates pro-actively; solutions, sales & market initiatives.
- Participates with others in Product development & marketing.
- Solicits business primarily, but NOT limited to the disciplines of the trilogy of Private Banking [Banking, Fiduciary [Wealth Protection such as Trusts, Foundations Offshore Cos etc], Portfolio Management [Execution only, Advisory & Discretionary] but also includes examples such as derivatives [e.g. DCDs, esoteric funds [aircraft operating leases, mezzanine debt, etc.]
- Maintains a designated list of clients’ portfolios.
- Develops new investment relationships, attracts new key clients to FAB. Furthermore, develops the private client side of FAB’s key strategic clients’ segment [e.g. Directors of Multinational as well as UAE / GCC / Sub-Continent diasporas-based Cos].
- Provides advice & ultra-high level of solutions & service 24/7 – 365 days of the year regardless of being in the office, on vacation and / or on an international business trip.
- Assesses prospects with the aim of converting to clients by a full vetting / due diligence process addressing issues connect with PEPs, OFAC, AML and including KYC to international standards.
- Assesses financial needs, risk tolerances/appetite, & develops optimal investment solutions.
- Ensure, clients’ relationships are monitored & maintained [Completes & updates all reports which includes e.g. KYC, regular Call Reports, Leverage/Lending related issues, interest charges paid on time, maturities, etc].
- Ensures that clients’ portfolios are regularly screened for proper diversification; unless client specifically requests this not to be the case.
- Participates in product development / marketing if & when required [Some SPBs have been deeply & actively involved with colleagues in PBU regards items such as Hold Mail & Bills Discounting].
- Maintains MIS portion relating to the individual.
- Cross sells / promotes all Investment Banking, FABS, GAM, ADNIF, etc.
- Promotes PB’s Open Architecture solutions on a case by case basis to serve the clients’ best needs & requirements.
- Manage the respective PB UAE office [End to End] for administrative purposes in the absence of the respective business heads on a rotational basis as & when required.
- Manages on a partial basis (time needs) basis RMs support staff in respective PBU office / liaising with Middle office, Back offices, RMD, ACD etc.
- All other tasks as reasonably & unreasonably requested.
- Provide vision, direction and motivation jointly with colleagues in the relationship team in providing service excellence to all HNW Clients.
- Manage the performance & development of direct reports by demonstrating leadership skills in objective setting, performance feedback, coaching & personal development.
- Plan, organize and allocate client resources effectively.
- To contribute directly to the strategy, direction and business planning of the Geneva & Jersey subsidiaries.
- Work cohesively with FMD, ADFS, AMG, ADNIF, ADPML, RMs support functions, PBU middle office, Group back office, audit & compliance & risk management etc.
REQUIREMENTS / QUALIFICATIONS
- A detailed knowledge of FAB policies, procedures and processes including anti-money laundering requirements, OFAC, and ‘know your customer’ requirements in relation to the International Private Banking market.
- An in depth knowledge base of the trilogy of Private Banking disciplines i.e. Banking, Investment/Portfolio Management & Fiduciary [Wealth protection via offshore trusts, companies & foundations].
- Have a solid understanding of varied offshore jurisdictions [eg Switzerland, UK, US, Jersey, Cayman Islands, BVI & free zones domiciled in the UAE / GCC].
- An in depth knowledge of all retail, corporate, treasury based investment banking products [vanilla & derivatives] both within Private Banking and across other banking divisions.
- Ability to closely follow the financial markets and use the broad knowledge of various investment vehicles to provide holistic advice to clients.
- An extensive knowledge of the local & offshore market place and opportunities to grow profitable business from a base in Geneva.
- An excellent knowledge and understanding of best practice relationship management, business development and marketing techniques in international private banking.
- Have a substantial knowledge of Corporate Banking which is an offshoot/ancillary discipline within the Private Banking portfolio.
- Excellent written & spoken English as well as Arabic, French, Hindi and/or Urdu as the case may be relating to client geography.
- The ability to work independently, develop professional long-term relationship and establish an extensive network of potential and actual individual and corporate high net worth clients.
- Ability to build excellent relationships with a HNW client base by providing excellent service in order to obtain business referrals.
- Converts prospects into clients.
- Opportunity spotting – have the skills to identify, explore & transact new market segments & develop the business to widen the private bank’s portfolio offering [e.g. Dual Currency Deposits].
- Ability to identify new market segments and develop that business to widen the Bank’s portfolio offering and increase profitable revenues.
- The ability to ensure that client portfolios have required diversification in investments to meet each client’s present and future needs.
- An ability to work with integrity when assessing each client’s financial needs to ensure the correct investment solution is being recommended.
- Ability to participate in product development [e.g. Hold Mail, Bills Discounting] & the ability to market/transact these.
- Ability to think & mastermind “Out of Box” bespoke solutions for clients who require esoteric tailor-made solutions.
- Ability to manage prospects due-diligence in tandem with ability to ensure clients’ portfolios are screened for required compliance as well as performance by diversification of investments to meet clients’ needs present & future.
Skills
- Excellent communication skills (written & oral) with all clients and work colleagues.
- The skill to deal with all types of people & give 1st impressions to prospects/clients.
- Capable of handling strong willed/minded articulate wealthy, financial astute individuals as well as those who are very poor in financial acumen.
- Attend networking events to attract new clients, develop current base and maintain close contact with the existing clients to keep them informed about market developments.
- Strong commercial and financial capability & ability to articulate well.
- An ability to persuasively influence & negotiate with others.
- A positive optimistic “can do, will help + always Going the Extra Mile” attitude with clients & colleagues.
- Ability to prioritise, delegate and organise personal time effectively to meet a wide range of time critical tasks.
- Provide vision, direction and motivation jointly with colleagues in the relationship team in providing service excellence to all HNW Clients.
- Manage the performance & development of direct reports by demonstrating leadership skills in objective setting, performance feedback, coaching & personal development.
- Plan, organise and allocate client resources effectively.
- Work cohesively with FMD, ADFS, AMG, ADNIF, ADPML, RMs support functions, PBU middle office, Group back office, audit & compliance & risk management etc.
