Director, Private Banking

Job Purpose

• 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

Job Context

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.

Measured By

• AUMs [On-balance Sheet + Off-balance sheet]
• "Revenues"

By Way Of

• Number of new relationships opened [Fresh Funds to the FAB Group]
• Number of new relationships transferred from within the FAB Group
• Number of existing relationships managed with the primary goal of increasing wallet share

Private Banking Disciplines

• i.e. 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]]

Competitive Advantage

• Offshore Platform
• Onshore Platform

Optimum Level of Relationships

Managed after a period of 4 years [circa 75 – 80]

Responsibilities - Tasks

• 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 which is unique to GPB; as still not introduced in the rest of NBAD
• 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

Job Knowledge

• 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. [e.g. 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 marketplace 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.

Professional & Technical Skills

• 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 of 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.
• Ability to react quickly & professionally to all clients' requests on a 24/7 cum 365 days (including weekends) basis regardless of being present in office, on vacation and / or on an international business trip.
• PERSONAL SKILLS & BEHAVIOURS
• Excellent communication skills (written & oral) with all clients and work colleagues.
• Languages written & spoken English [mandatory], Arabic, French, Hindi, Urdu etc [desirable] on a geographical need's basis.
• 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. This is in tandem with being able to successfully handle a range of client behaviors.
• 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 prioritize, delegate and organize personal time effectively to meet a wide range of time critical tasks
• LEADERSHIP & MANAGEMENT SKILLS
• 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.

Experience

• Track record of excellent academic performance from a reputable university. Preferable in business, economics, marketing and / or an MBA or accountancy/finance background
• Strong relationship management & new /ongoing business development skills
• At least 10 years' experience as an “industry hand” in private banking coupled with experience in other banking environment, investment companies.
• Experience in leadership
• Experienced problem solver in tandem with decision making