RELATIONSHIP MANAGERS, PRIORITY BANKING / WEALTH MANAGEMENT recruitment
Priority banking and wealth management products and services is one of the key focus areas for this bank in the UAE. The importance of catering to the growing needs of our clients and establish sustainable non-fund based income is the primary driver of the initiatives and business goals planned for the wealth management business.
In this context, the Relationship Manager is
A position entrusted with task of acquiring HNWI customers and cross selling banking wealth management solutions.
A self motivated, go getter, ambitious and performance driven individual who operates with minimal supervision.
An ardent networker who has large contact base of HNWI customers and references.
Does not need banks portfolio.
A subject matter expert on global financial markets, investments, bancassurance and estate planning.
A team player with well developed interpersonal, relationship building and communication skills.
An advisor to the management as regards contribution to overall business initiatives and strategy.
Priority banking and wealth management is supported by
Priority Banking Proposition
Open Architecture Wealth Management Platform.
Attractive Variable Compensation Plan
Flat Hierarchy Reporting Structure
QUALIFICATIONS / EXPERIENCE REQUIRED
Include only that qualifications/experience absolutely necessary to perform the job
Education qualifications (include Membership of professional bodies):
* University Graduate / Post Graduate (MBA). Other profession certifications would be an advantage
Work experience:
* Relevant Wealth Management Sales Experience of 5-10 years for Senior RM openings or 2-5 years for RM openings
* Candidate must possess sound knowledge of global financial markets.
* Must be able to demonstrate awareness and understanding of recent developments, opportunities and risks in popular investments markets products.
* Candidate must possess sound knowledge of life Insurance products like regular savings and protection plans.
* Candidate should have worked in Priority Banking divisions of local / MNC banks. (Exception can be made for candidates working with Asset Management / Insurance / Broking / Mortgage companies and who have a large customer network / database).
Other knowledge/skills (eg. management, interpersonal, technical):
* Exposure and excellent working knowledge on computers (Ms Office/Internet)
* Fluent in English (read/write/speak). Arabic language will be an added advantage.
* Good understanding of compliance and regulatory requirements of all products
MAIN PURPOSE OF THE JOB
* Acquire HNWI customers through own network and database.
* Transfer, build liability and AUM portfolio through own network and database.
* Cross sell banking and wealth management solutions.
* Single point contact and dedicated account manager for priority banking customers.
KEY RESPONSIBILITIES / DUTIES / GOALS
List daily/weekly duties that account for at least 5% of the time as well as typical projects or assignments
Financials:
* Achieve targets/goals as set by the business at start of each quarter and collectively for the full year.
* Maintain consistent and sustainable performance.
* Increase customers total relationship balance (TRB) across liabilities and wealth management products.
Business Development:
* Acquire new banking customers (Resident and Non-Resident) through own network, database and referrals.
* Achieve healthy mix of CASATD in the portfolio. Ideal CASA : TD mix to be 50 : 50
* Achieve healthy cross sell of products. (Liabilities and WM products). At least 50% of the customer base should have balances in both these products.
Compliance:
* Adhere to the banks AML / KYC policy, escalate and report suspicious transactions.
* Zero error rate on CADD/CTP/Checklist documentation. Instant response and quality disposition to compliance alerts
* Maintain high standards in customer disclosures and achieving zero customer complaint record.
* Provide clear information to customers and ensure that they fully understand the product they are opting for.
* Ensure consistent and transparent disclosures of fess/charges and risks associated with the banking wealth management products.
* Operate in a manner which protect the banks / franchise interests at all times.
Customer
* Ensure less than 5% attrition of customer base.
* Achieve granularity and avoid skew in TRB as regards individual customers / company accounts
* Premium accounts to be fully funded within three months of account opening.
* Maintain high standards of customer service resulting in increase in customer balances and product cross sell
* Ensure effective service delivery and customer contact management which results in positive customer experience and increase customer loyalty.
People
* Work as an active team member and maintain / drive the team spirit.
* Help and respect colleagues and peers.
* Maintain cordial relations with all bank staff and customers and have a zero people conflict record.
* Lead, guide, develop and motivate new staff