Our client is an innovative and fast growing bank based in Saudi Arabia. Their Private Banking division was established in 2013 to serve their High New Worth client base. Due to increased demand/growth the bank’s strategy is to further expand in this area, as well as introducing new investment products as part of their diversification into Wealth Management services by providing market-leading red carpet wealth management and credit services.
- Number of Vacancies: 5
- Job Type: Full-Time
- Experience: Minimum of 3 years
- Industry: Banking
- Reporting line: Regional Head of Private Banking
- Functional Area: Private Banking
- Location: Riyadh, Saudi Arabia
- Job Role: Private Banker
- Reporting to: Regional Head of Private Banking
- Job Purpose
Primarily responsible in acquiring and maintaining of ultra HNW relationships, Servicing the clients for their banking & investment needs, Fulfilling Know Your Customer requirements of existing clients as per the bank and SAMA regulations.
- Key Responsibilities
A) Acquisition of new customers
- Acquire new accounts from family of existing customers, or from referrals.
B) Relationship Building / Cross Sell
- Ensure consistent growth of client portfolio. Work closely with the Regional Head to establish synergies for maximum penetration of Investment & bank products sales to new customers.
- Build a robust momentum with regard to the bank products distribution (insurance, real estate loans, and investment products) and fee income to scale up the client portfolio growth, in line with the set targets.
- Take reasonable steps to seek from the client appropriate and available information regarding the clients’ financial situation, financial product experience and objectives to provide the client with appropriate products.
- Identify the financial products that will be appropriate to the clients risk profile and financial needs. Take reasonable steps to ensure that the client understands the products and that the client is in a position to make an informed decision.
- Implement customer contact programs to ensure his share of wallet with the bank increases. Close monitoring of average revenue per customer.
C) Retention of existing customers
- Ensure top class service delivery to clients to be in line with the best in the industry.
- Monitor high net worth accounts closely to ensure that customers continue regular use the account and grow balances.
- Work towards reactivating accounts which have stopped transacting or depleted in balances.
- Assist in resolving service hurdles to create a delight situation for customers.
D) INTERNAL PROCESSES/PRACTICES: (PRODUCTIVITY/QUALITY/COMPLIANCE/REPORTING):
- Provide assistance and advise to Private Bankers
- Ensure awareness and adherence with the Know Your Customer policy, Anti Money Laundering Policy, Mis-selling Policy, Information Protection Policy, Operational Risk, Code of Conduct and other laid down compliance norms of the bank as stipulated from time to time.
- Ensure any suspicious transaction to be immediately reported to the Head of Operations and the Regional Head.
- Ensure Promotion of Alternate Channels. Increase customer contact-ability by capturing email address and mobile number.
- Ensure completion of Risk Profiling for each customers
- Meeting the financial targets
- Acquisitions of new clients
- Building existing relationships.
- Adherence to AML/KYC requirements
- Work Qualification/Capabilities
- Bachelor’s degree in Finance or equivalent, though professional certifications such as CPFP & Wealth Management is a must.
- Should have minimum 3 years’ experience in servicing HNW clients with responsibility in managing a portfolio size of at least SR 400millions and 20 relationships.
- Good communication and well groomed
- Excellent communication in Arabic and English
- Motivated and a team player
Interested candidates please send your CV and contact details to email@example.com referencing ‘Private Banking’ in the subject