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Associate Director - Private Banking

  • Location

    London, England

  • Sector:

    Operations & Middle Office

  • Job type:

    Permanent

  • Salary:

    £80000 - £90000 per annum

  • Contact:

    Scott Duerden

  • Job ref:

    SDED01_1556720385

  • Published:

    18 days ago

Prestigious International Bank based in the West End, are looking to recruit an Associate Director to join their Private Banking Department. A part of the Consumer Banking and Wealth Management division, Private Banking works with High Net Worth Individuals from three core market segments; UAE, KSA and GSAB. Sitting alongside Banking Services, the Private Banking team offers clients comprehensive wealth management services including discretionary portfolio management, offshore trust and fiduciary services and UK/European real estate advisory.

The incumbent will be responsible for:

  • Acquisition of new client relationships and development of existing client relationships within the Private Banking sector
  • Selling a range of private banking products to existing and potential clients.
  • Achieving high levels of service standards and maximize client satisfaction.
  • Demonstrate awareness of budgets and accounts and profitability
  • Compliance with FCA and anti-money laundering regulations

Main responsibilities will include;

  • To continue building investment knowledge and be conversant with the full range of private banking services: to be competent in trusts, asset management, banking and advisory services and to act as an effective trusted advisor in the delivery of these services
  • Initiates, develops and retains client relationships while contributing actively to the business development and financial goals of the unit. Is jointly involved in client solicitation, presentation, closings, account management and development
  • To complete credit responsibilities such as reviewing excess reports, preparing Facility Applications, credit reviews, and negotiation of credit terms
  • Works and liaises with Private Banking, Dubai to keep abreast of investment and product offerings to be the client's window to the private banking services offered the Bank.
  • Ensures that client product needs and services are met
  • To be responsible for up-to-date compliance, KYC and client profile on each client.
  • To be responsible for assessing risk tolerance and investment suitability of each client and marketing appropriate products and services
  • Attending to clients' needs in colleague's absence whilst adhering at all times to the FCA competences requirements
  • Has a good investment knowledge and good knowledge of the UK property market and lending to develop the London branch real estate investment programme
  • Sufficient knowledge in trusts, asset management, banking and advisory services and the aim of becoming an effective "trusted advisor" in the delivery of these services to team clients
  • To be responsible for client satisfaction and service quality levels by ensuring that the client's needs are met by performing administrative tasks required to fulfil client requirements
  • Remains informed about market trends, customer preferences, and new products
  • Contributes to all aspects of the marketing mix including products development
  • Completes meeting reports and establishes a follow-up system
  • Participates, anticipates, enquires, responds, and prepares written presentations and other documents independently
  • In addition to the duties listed, the employee may, from time to time, be required to perform other duties assigned by their manager

To be considered for this position, ideal candidates must have the following experience/skills;

  • Has worked in a client facing role within a private banking environment for at least 10 years with a minimum of five years in an investment advisory position
  • Has the relevant FCA accreditation to undertake an advisory role which includes the Certificate in Securities and Financial Derivatives and the Investment Advisory Certificate
  • Be fully RDR Compliant - must have completed IMC / IAD
  • Is conversant with the full range of Private Banking services, including trusts, asset management, banking and advisory services
  • Has an extensive network of contacts
  • Is culturally aware and possesses market intelligence of UAE markets required to develop business and to be well perceived in the market place. Able to structure a network through the market conducive to client acquisition

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