About the Role
The Assistant Director of Private Banking is responsible for providing a portfolio of High Net Worth (HNW) clients with personalized service to develop close relationships, achieve maximum profitable contribution for both the client and the bank, and retain loyalty and respect. The role involves enhancing Private Banking sales and revenues while promoting the cross-selling of bank products to existing clients. Additionally, the job holder is expected to source new business from Super HNW individuals through referrals, marketing activities, and personal contacts, ensuring that clients are aware of all financial services offered by various bank departments.
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Key Responsibilities
- Optimize the potential value of the client base by delivering Private Banking products and services, actively identifying new customers.
- Effectively communicate with HNW clients to structure advice based on their needs.
- Recognize opportunities to partner with other bank professionals to service client needs and maximize bank revenues.
- Maximize profitability from the Private Banking base while countering competition from alternative investment and wealth management providers.
- Safeguard the bank from potential losses related to anti-money laundering (AML) fraud and ensure ethical behavior.
- Maintain the bank’s reputation by ensuring ethical professional behavior at all times.
- Enhance market profile and awareness.
- Achieve revenue goals, sales, and portfolio growth targets across various products and services such as investments, term deposits, CASA balances, trade finance, foreign exchange trading, and share financing.
- Acquire 'new to bank' HNW clients.
- Provide a superior customer service experience for clients, pre-empting issues and engaging in proactive servicing.
- Minimize customer attrition and maintain proactive client contact.
Operating Environment
- Interact with product managers, investment advisors, line managers, cross-sell managers, and customer service officers to provide feedback on competition and customer response to products and services.
- Coordinate activities with other departments to maximize conversions from the lead referral process and ensure client expectations are consistently met.
Problem Solving
- Understand customer financial needs on a one-to-one basis.
- Maintain an intricate understanding of products pertaining to HNW customers—both internal and external (competitors).
- Possess advanced market knowledge of various investment vehicles, markets, and economic factors.
- Project sales numbers accurately and take proactive action on customer feedback and needs.
- Escalate service issues in a timely manner.
Decision Making Authority & Responsibility
- Exercise pricing discretion for effective relationship management.
- Hold strong responsibility for ethical selling to customers, ensuring complete disclosure regarding products and services.
Knowledge, Skills, and Experience
- University graduate with a strong understanding of numbers, selling, and investments/financial market knowledge.
- Excellent interpersonal skills and cultural sensitivity.
- Demonstrated relationship management and networking skills. An extrovert and amiable personality is preferred.
- Minimum of 2 years of experience in a similar role with another bank or financial services company in the UAE, with relevant certification from the Securities & Investment Institute (SII) for selling investments.
Behavioral Competencies
- Customer Focus: Level 3
- Leadership: Level 2
- Commercial Awareness: Level 3
- Interpersonal Relationships: Level 3
- Commitment to Results: Level 3
