- To provide High Net Worth clients of the region with full product agnostic relationship management and excellence in service within a responsive controlled environment
- To acquire new High Net Worth clients for the East Africa franchise (both onshore and offshore)
- To enhance profitability through proactive cross-selling of Group products (both onshore and offshore) to existing and new clients with particular focus on the East African market
- To provide support to the High Net Worth team befitting the role and responsibilities of a senior management position
- Generate new business opportunities in the East African market for the onshore and offshore businesses
- Meet agreed revenue targets
- Meet global service/experience standards of Standard Bank High Net Worth through ownership of the relationship and by providing a single point of entry for the client into High Net Worth and Group offerings.
- Take accountability for client profitability on a product agnostic basis (ie across the clients’ portfolio of products)
- Coordinate and execute an appropriate client contact plan and ensure coordination with broader marketing and events
- Identify and manage business risks for Standard Bank by ensuring that standards, regulations and required processes are adhered to
- Provide appropriate advice to clients on products and service offerings and ensure that these are packaged and structured to minimise risk to protect the interest of both parties.
- Collaborate with product specialists (both onshore and offshore)
- Broaden client relationships within the Group through introductions and facilitation of business flows through Wholesale Clients, Business & Commercial Clients and Liberty as appropriate.
- Represent Standard Bank High Net Worth function in a professional manner, help build its profile and reputation as a high quality service, with a focus on maintaining long-term relationships with clients.
- Effectively delivering excellent personalised service and providing feedback before the Sun sets’
- Create positive defining moments
- Providing creative solutions
- Build sustaining relationships
- Quality of BAF & Credit papers
- Taking ownership of complaints
- Ensure superior client service thereby contributing to the overall client experience of High Net Worth clients
- Managing Assistant Relationship Managers so as to ensure that targets, work and quality standards are set, achieved and maintained
- Supporting the Assistant Relationship Managers and new staff through continuous guidance, coaching and mentoring (product knowledge, processes, customer service and relationship management)
- Identifying strengths and developmental areas, ensuring that ARMs receive requisite learning, training and skills development interventions
- Managing and supporting a culture of diversity within High Net Worth ensuring that good interpersonal communication, sharing and learning from each other
- Supporting talent management by creating and implementing a platform for growth, mentoring and development of staff within High Net Worth
KEY PERFORMANCE MEASURES
- Grow Revenue
- Optimize client contribution in terms of budgets provided and ensure value add to clients through cross-selling, specifically focusing on Investments, Financial Planning, Risk Solutions, Transactional Banking, Lending and Fiduciary opportunities.
- Client Strategy
- Acquisition of new clients through:
- Internal / external networking
- Dedicated business channels
- Proactive sourcing of new clients
- Fully accountable for the relationship with the client, across all hierarchical levels, which incorporates integrating and coordinating all contact between the bank and the client.
- Establishes credibility and overall profitability for the bank and the client by the skillful application of specialist knowledge to deal with diverse client environments and provide qualified leads to relevant areas within the bank.
- Builds relationships across all hierarchical levels within and outside the bank in order to develop a credible and relevant network, to ensure leading edge financial and market information.
- To ensure successful retention of existing clients in assigned portfolio to strengthen and expand relationships by intimately understanding the client, servicing the client’s personal financial needs
- Assuming overall accountability for products and services, such as Wealth, Lending, Fiduciary and Transactional products
- Conform to the bank’s risk policies and procedures
- Proactively and timeously identifies potential problem accounts and formulates appropriate risk mitigating strategies.
- Client reviews and managing of limits
- General understanding of all areas of risk associated with High Net Worth , products and services; draw on this information and input from reliable sources (network) to decide on strategies to meet their needs (business financial needs & operational banking service needs) to establish a sound relationship for further business and protect against loss of key clients to competitors
- Account for the ethical, moral, legal, operational, credit and business risk of the client portfolio.
- Contribute intimate knowledge of the client, to the function of risk assessment, and provides insights into mitigating or cautionary factors to the risk assessment specialist (via liaison with Manager Credit in the preparation of board papers).
- Accountable for holding a client file that is fully compliant with legislation.
Responsible for the implementation and adoption (within Section) of all Compliance, Anti-Money Laundering and Sanctions related requirements contained in policies, procedures and processes. This includes the consideration and approval of PEP on-boarding and continued business engagement in instances where no adverse information is available.
Preferred Qualification and Experience
- Relevant Financial or Investment degree from a recognised University
- Masters in Business Commerce field
- Proven track record in the financial services industry, preferably with relationship management experience in High Net Worth,
- Business and Commercial or Investment Banking.