Reporting directly to the Group Head (GH) Private Banking, the function is responsible for client interface and creating solutions for the acquisition, growth, preservation, and transfer of wealth for the client while also developing the business unit to increase profitability, market share, and clients satisfaction leveraging on a range of banking, lending, and wealth solutions.
DUTIES & RESPONSIBILITIES
Supervise activities of front office, middle office and back office staff to ensure timely and efficient service delivery to Private Banking clients.
Oversee and ensure the flow of client’s transactions and investments portfolio is in accordance with client’s mandate.
Promote the education of clients in the wealth management space, providing personal financial advisory services that enhance the investment decisions.
Review client profiles to ensure investments are in accordance with mandates, risk profiles and risk appetites.
Promote the sales and services culture through coaching, guidance and staff motivation.
Actively participate in the development of budgets and target as they relate the Private Banking business and ensure achievement of monthly and annual targets.
Authorize capital and current expenditure for the Hub as approved by the GH.
Ensure Hub operating cost is within approved budget
Ensure zero tolerance for inactive / dormant accounts
As part of the Bank’s Information Security requirements, maintain the security of all Information entrusted to the staff and comply with the principles and policies in the Information Security Handbook.
Lack of required skills and competency
Lack of products for investment purposes
Dependence on IBAM to create investment outlets for clients
Macro : one year ; Micro : three month
Key financial / statistical measures of your organizational unit
Number of staff in Unit / dept : 5
Staff costs : N / A
Costs that you control : direct cost relating to customer acquisition
Income that your Division generates (if any) :
Fee Income : targeted as a percentage of balances earned 2.5% minimum
Net Interest Income : targeted as a spread between payment to client and that earned via pool rates
Other Income : as indicated in the budget and scorecards
KEY PERFORMANCE INDICATORS
Ability to maintain and win new accounts of high new worth clients.
Ability to market and sell the Private Banking products to target market.
Ability to generate revenue.
Adequately manage the credit portfolio of clients and creating profit for the bank.
KEY COMPETENCY REQUIREMENTS
Skill / Competencies