Wealth and Investment
To manage an assigned portfolio of high net worth client accounts providing advice and relationship support ensuring optimal service, while integrating all Standard Bank products, services and resources, to ensure that their needs are met, thereby achieving the defined revenue targets through retention of existing business and acquisition of new business, in order to maximise bank’s profitability.
Key Responsibilities / Accountabilities
Client Service and Relationship building
Establishes and builds one-on-one relationships with clients based on mutual respect in assigned portfolio by delivering exceptional service levels, specifically focusing on a pro-active contact (calling) strategy and programme.
Ensures successful retention of existing customers in assigned portfolio by strengthening and expanding relationships. This is achieved by intimately understanding the customer, servicing the customer’s business and personal financial needs and focusing on the management of key accounts.
Interacts and build relationships with Business Banking Account Executive’s, Private Banking and (CIB) Corporate and Investment Banking Relationship Managers, in order to provide a seamless solution to the client’s banking requirements.
To assist with related queries where possible, and facilitate when specialist advice is required by referring to appropriate experts
Manages the Cost of Sales through evaluation of margins, cost of service and utilisation of the multi-channel delivery strategies, Effectively attend to and monitor customer complaints on portfolio, identify root causes and address at source, to prevent re-occurrence
Proactively communicate new product information to all customers.
Attend client events to build personalised client relationships.
Ensure that we escalate queries, service issues, client requirements outside of laid down requirements and client complaints to leadership before the Sun Sets in terms of the Say No to No Campaign
Profitable growth in portfolio sales (On and Offshore)
Acquires new business for the portfolio in line with the Customer Value Proposition segment specifications, acquisition targets to increase market share and specific sales strategies.
Maximises bank profitability and ensure value add to customers through cross-selling specifically focusing on wealth leads and lending opportunities.
This includes the complete spectrum of Transactional Banking accounts, Investment accounts, Foreign exchange requirements, Non Resident, Exchange control and Offshore banking requirements,.
Sign up client, and ensure that product features and benefits are clearly explained. Ensure that client welcome pack, credit cards and cheque books are delivered and client is active on all self-service channels e.
g. Internet banking on apps, BOL where required
Attend to pricing concession requests around transactional banking products
Manages targets / budget achievement through use of contribution reports.
Joins and supports business organisations that will assist in the acquisition of appropriate customers.
Measures, tracks and manages sales targets and budgets for portfolio
Structures credit applications effectively, focusing on high quality motivations
Advises customers on lending product selection, by recommending products to meet their specific needs
Once credit approval obtained brief the Transactional Relationship Manager on the fulfilment and collateral preparation process to follow.
Manage turnaround times and receipt of documents until limit loaded and all conditions have been satisfied
Fulfills a training / coaching role through up skilling Transactional Relationship Manager regarding their credit knowledge
Restructures debt for efficiencies bringing a customer’s asset base under one roof
Establishes a sound working relationship with Wealth and Investment Credit, to ensure prompt turnaround times, accuracy and deadlines are strictly adhered to
Manages the timeous completion of annual credit reviews on the portfolio
Drive COA compliance with Transactional Relationship Manager
Risk Management and Compliance
Attend to all risk matters, including all KYC / FAIS and other regulatory matters.
Ensures that procedures laid down in Group Reference Guide are adhered to and, where flexibility needs to be exercised, that the neces
sary dispensation is held
Ensures proper record keeping in terms of Financial Advisory and Intermediary Services Act as well as the Financial Intelligence Centre Act requirements.
Ensures Code of Banking Practice is adhered to.
Maintains information on Security and access control system (SACS) for the relevant Wealth and Investment office as per laid down procedure(if applicable)
Assist in up skilling new team members around processes and Transactional Banking products
Initiate weekly team training product sessions
Keep appropriate records of all training conducted
Key performance measures
Sales and profitability targets achieved
Satisfactory risk audit results
Excellent customer experience measurement
Engaged and motivated staff
Preferred Qualification and Experience
A degree / equivalent in Finance, Business Administration, Law, CFP or related field. Completion of FAIS regulatory exams
Minimum 7 years wealth managment experience - The role requires complex and comprehensive client facing banking experience in private banking / private wealth / investment banking / commercial banking, with a good understanding of operational and administrative processes as well as risk and compliance standards and with a focus on maintaining high standards of service and problem resolution.
Knowledge / Technical Skills / Expertise
Understanding of the Private Banking / Wealth and Investment market customer profile and lifestyle.
Sound knowledge of the full product spectrum as relevant to the Private Clients market, including qualification criteria, features, benefits, pricing, product combination possibilities for optimum use and relationship to other more specialised products.
Ability to interpret financial statements, management accounts, budgets and cash flows for all types of legal entities.
Thorough understanding of Credit Principles and systems (behavioural scoring system).
Qualification and / or experience in structuring business and personal deals and lending.
Understanding of Group company products in respect of service level agreements (knowledge of criteria and customer expectations) and the bank’s service provision networks.
Understanding of which products are most profitable to the bank and potentially beneficial to the customer.
Ability to recognise when specialist product support is required.
Knowledge of equivalent competitor products and services.
Working knowledge of Private Clients strategy, overall Group strategy and Private Clients value proposition
Understanding of current business issues and their impact on the local market.
Working knowledge of branch systems and their impact on customer service.
Financial management skills.
People Management skills.
Have a thorough understanding and knowledge of self -service channels, e.g. Internet
Strong Computer Literacy, able to capture / update customer database, migrate customers to remote channels and optimise service delivery within available technology channels (e.
g. e-mail, internet and cellphone banking).
Knowledge of the Financial Advisory and Intermediary Services Act.
Knowledge of the Code of Banking Practice.