HEAD OF HUB, PRIVATE BANKING
First Bank of Nigeria Ltd
ABUJA,Nigeria,IKOYI, NG,Lagos,NG
5d ago

JOB OBJECTIVE(S)

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.

CHALLENGES

Lack of required skills and competency

Inadequate manpower

Lack of products for investment purposes

Dependence on IBAM to create investment outlets for clients

PLANNING

Macro : one year ; Micro : three month

EXPENDITURE BUDGET

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.

Education

  • Minimum 2 : 2 undergraduate degree;
  • Preference for postgraduate business or related degree or other professional qualification (though not mandatory);
  • Training in Portfolio Management and Asset Allocation
  • Training in Customer Profiling and Risk Assessments
  • Experience

  • Minimum 10 years working experience in banking or a related industry
  • Previous experience in Asset & Wealth Management or Investment Banking is an advantage
  • KEY COMPETENCY REQUIREMENTS

    Knowledge

  • Solid understanding of the Nigerian financial services sector and other non- bank financial services industries in which the Bank competes
  • Skill / Competencies

  • PORTFOLIO MANAGEMENT
  • FINANCIAL INSTRUMENTS KNOWLEDGE
  • CREDIT ASSESSMENT AND STRUCTURING
  • MARKETING / SALES
  • BUSINESS / PRODUCT DEVELOPMENT
  • CUSTOMER RELATIONSHIP MANAGEMENT
  • BUDGET PLANNING & CONTROL
  • FINANCIAL ANALYSIS
  • BUSINESS / OPERATIONAL STRATEGY
  • ASSET / INVESTMENT MANAGEMENT
  • TRUST ADMINISTRATON
  • Apply
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