Private Banker

Overall Job Purpose
To deliver Private Bank’s customer value proposition to a portfolio of clients aligned to our goal of becoming the “go to” Private Bank.
Key
Accountabilities Accountability: To build customer relationships in the preferred market segments:
• To own the primary relationship with our clients by being the client’s main contact point and to work collaboratively with specialists (ie financial and estate planners) to ensure that our clients experience the full spectrum of our value proposition.
• To ensure that you achieve the required contact strategy relevant to your portfolio based on client segmentation of your portfolio.
• To build, maintain and execute on client relationship plans to ensure you fully understand your clients’ needs and that we hold the primary relationship with our clients.
• To secure new business through interaction and engagement with current and prospective clients and leads generation and ensure new clients are fully on boarded.
• Ensure retention of clients in within acceptable targets and apply remedial actions where appropriate.
• Consistently achieve customer satisfaction scores as per agreed threshold by ensuring that customers are appropriately serviced in line with our value proposition.
• To work seamlessly with the sales support team in ensuring that they are enabled to support you in your portfolio.
Accountability: Deepen relationships with our customers through meeting their individual needs and achieving the required income from each portfolio.
• Prepare weekly for performance discussions with Manager Sales and Service to review client contact plans, client relationship plans, opportunities, successors and support required.
• To review and negotiate pricing structures with clients, in line with the Absa Pricing policy to ensure that the portfolio profitability is managed optimally.
• To effectively cross and up sell the appropriate products to the clients ensuring that all requirements in terms of FAIS (Financial Advisory and Intermediary Services Act), FICA (Financial intelligence Centre Act) and NCA (National Credit Act) are met.
• Analyse sales achieved against opportunities in portfolios on a monthly basis for new and existing client
• Complete a monthly analysis of the profitability of the portfolio of clients including the quality of credit and make recommendations to the Manager Sales and Service if actions are required for identified clients.
Accountability: Protecting our assets through appropriate levels of risk and credit Assessment
• Co -Manage high risk clients’ accounts in collaboration with Credit Operations (Credit Lending, Existing customer Management and third Party Management) and Regional Credit Consultant by assisting with liaison between credit and the client.
• Ensure transparency and open dialogue between credit and the client by communicating the client’s requirements, by means of properly motivated and well articulated motivations with the required supporting documents and giving feedback on the banks’ position regarding these requirements.
• Assist with the development of high quality credit client solutions which are both practical and appropriate (i.e. lending structures) for clients by influencing credit with knowledge on the client’s requirements as well as business and industry related knowledge
• Coordinate and drive outstanding client reviews and ensure timeous finalisation.
• Ensure that arrangements with clients are within the credit guidelines and that credit is informed of any special arrangements via utilisation of the prescribed systems. .
Accountability: Colleague and Personal Development
• To act as backup for other Private Bankers in the team in case of absence or during peak times according to the agreed schedule as provided by management.
• Keep abreast of developments in the industry/sector to ensure adequate client service and to support potential risks and or opportunities.
• Obtain and/or maintain the required FAIS appropriate qualification or regulatory examination before the regulatory due dates and ensure that Continuous Professional Development (CPD) hours are maintained at all times.
• Complete the relevant Compliance, Risk and System, Product and role fundamental training as per the Private Bank Minimum Training requirements.
Role / Person
Specification Education and Experience Required
• B-degree in Commerce,
• Five (5) years relevant Private or Wealth Banking experience
• Or 8 years’ experience in Private Banking, of which 4 years must be experience with Non Individuals (Professional Practice) within Private or Business Banking
• FAIS Compliance
2
Knowledge & Skills: (Maximum of 6)
• Sales Acquisition and Business Development
• Customer Relationship Management
• Financial and wealth solutions and planning knowledge, including deal structuring
• Relationship Banking Risk management, including credit knowledge around complex structures as well as solutions
• Financial products knowledge with Superior Communication Skills
• Data analysis to enable data led decision making
Competencies: (Maximum of 8 competencies)
• Complex problem solving capability - Analytical, lateral and critical thinking
• Holistic Solutioning Capability
• Entrepreneurial thinking
• Change Agility
• Digital affinity – 4IR Savy
• Effective multi-tasking
• Collaboration