Requirements
The Director Private Banking role requires a strong track record in private banking with at least 5 years of experience, preferably with a business, economics, marketing, MBA, or finance background. Essential skills include relationship management, business development, and a deep understanding of private banking disciplines, financial markets, and compliance requirements like KYC, AML, PEP, and OFAC. Fluency in English is mandatory, with Arabic, French, Hindi, or Urdu being desirable.
Description
Job description / Role
Job Type
Full Time
Job Location
Abu Dhabi, UAE
Nationality
Any Nationality
Salary
Not Specified
Gender
Not Specified
Arabic Fluency
Not Specified
Job Function
Finance, Business Analysis & Consulting
Company Industry
Banking & Financial Services
Job purpose
The private banker focus is to develop business across diverse markets and regions within all areas of private clients, family offices of UHNWI and HNWI, especially with different offshore and onshore locations ranging across numerous booking centers, which is highly competitive and appealing to the regional and international customer base of the CIS segment. To achieve superior sales revenues and AUMs above a predetermined target and increase FAB's market share in the CIS segment. To provide clients with an above optimum level of service and full investment solutions.
Identify and segment target markets, develop business to widen portfolios, and implement the strategic and marketing plan for private banking. Build and manage a portfolio of UHNWI and HNWI and provide maximum personalised services. Maintain and expand current and future client base, acquire net new business via referrals, contacts, and marketing. Proactively enhance private banking offerings (Group and/or Open Architecture) by initiating and supporting internal processes and workflows.
Job context
Successful private bankers should be able to demonstrate their "hunting" and "farming" capabilities to ultimately deliver AUMs and revenue streams based around the sophisticated and tailored trilogy of private banking platform for CIS clientele.
Measured by private banking industry criteria:
AUMs (on-balance sheet and off-balance sheet)
Revenues
By way of:
Number of new relationships opened (fresh funds to the FAB Group)
Number of new relationships transferred from within the FAB Group
Number of existing relationships managed with the primary goal of increasing wallet share
Via the private banking disciplines:
i.e. the trilogy of private banking (banking, fiduciary - wealth protection such as trusts, foundations, offshore companies, etc., portfolio management - execution only, advisory and discretionary) but also includes examples such as derivatives (e.g. DCDs), esoteric funds (aircraft operating leases, mezzanine debt, etc.).
Using the competitive advantage of FAB's unique selling point:
Offshore platform
Onshore platform
Tasks
Maintain and develop a client base of HNWI and UHNWI providing excellent service in order to develop net new business to the group and obtain or maintain business via referrals and recommendations within the group.
Manage specific projects end to end / 360 degrees including managing and liaising with other group colleagues.
Develop new business through own sources, existing professional connections, and introductions via the bank with strong interpersonal skills and experience at both generating new business and managing high-profile client relationships.
Opportunity spotting externally and from within the group.
Coordinate and promote prospects and business with other relationship managers as well as other group coordinators globally.
Promote cross-selling between group branches and offices in the Gulf and elsewhere globally for the CIS segment.
Develop and maintain strong relationships with decision makers in key positions and turn relationships into sources of referral (inwards and outwards).
Initiate proactively solutions, sales, and market initiatives.
Participate with others in product development and marketing.
Solicit business primarily, but not limited to, the disciplines of the trilogy of private banking (banking, fiduciary - wealth protection such as trusts, foundations, offshore companies, etc., portfolio management - execution only, advisory and discretionary) but also includes examples such as derivatives (e.g. DCDs), esoteric funds (aircraft operating leases, mezzanine debt, etc.).
Develop new investment relationships, attract new CIS clients to FAB. Furthermore, develop the private client side of FAB's key strategic clients' segment (e.g. directors of multinational as well as UAE, GCC, Sub-Continent diasporas-based companies).
Provide advice and ultra-high level of solutions and service 24/7, 365 days of the year regardless of being in the office, on vacation, or on an international business trip.
Assess prospects with the aim of converting to clients by a full vetting and due diligence process addressing issues connected with PEPs, OFAC, AML, and including KYC to international standards which is unique to GPB; as still not introduced in the rest of NBAD.
Assess financial needs, risk tolerances and appetite, and develop optimal investment solutions.
Ensure clients' relationships are monitored and maintained (complete and update all reports which include e.g. KYC, regular call reports, leverage/lending related issues, interest charges paid on time, maturities, etc.).
Ensure that clients' portfolios are regularly screened for proper diversification unless the client specifically requests otherwise.
Perform all other tasks as reasonably and unreasonably requested.
Job knowledge, skills and experience
Job knowledge
A detailed knowledge of FAB policies, procedures and processes including anti-money laundering requirements, OFAC, and 'know your customer' requirements in relation to the international private banking market.
An in-depth knowledge base of the trilogy of private banking disciplines i.e. banking, investment/portfolio management, and fiduciary (wealth protection via offshore trusts, companies and foundations).
Have a solid understanding of varied offshore jurisdictions (e.g. Switzerland, UK, US, Jersey, Cayman Islands, BVI and free zones domiciled in the UAE and GCC).
An in-depth knowledge of all retail, corporate, treasury-based investment banking products (vanilla and derivatives) both within private banking and across other banking divisions.
Ability to closely follow the financial markets and use the broad knowledge of various investment vehicles to provide holistic advice to clients.
An extensive knowledge of the local and offshore marketplace and opportunities to grow profitable business from a base in Geneva.
An excellent knowledge and understanding of best practice relationship management, business development and marketing techniques in international private banking.
Have substantial knowledge of corporate banking which is an offshoot or ancillary discipline within the private banking portfolio.
Professional and technical skills
Excellent written and spoken English as well as Arabic, French, Hindi and/or Urdu as the case may be relating to client geography.
The ability to work independently, develop professional long-term relationships and establish an extensive network of potential and actual individual and corporate high net worth clients.
Ability to build excellent relationships with a HNW client base by providing excellent service in order to obtain business referrals.
Convert prospects into clients.
Opportunity spotting - have the skills to identify, explore and transact new market segments and develop the business to widen the private bank's portfolio of offerings (e.g. dual currency deposits).
Ability to identify new market segments and develop that business to widen the bank's portfolio offering and increase profitable revenues.
The ability to ensure that client portfolios have required diversification in investments to meet each client's present and future needs.
An ability to work with integrity when assessing each client's financial needs to ensure the correct investment solution is being recommended.
Ability to think and mastermind "out of box" bespoke solutions for clients who require esoteric tailor-made solutions.
Ability to manage prospects' due diligence in tandem with ability to ensure clients' portfolios are screened for required compliance as well as performance by diversification of investments to meet clients' needs present and future.
Ability to react quickly and professionally to all client requests on a 24/7, 365 days (including weekends) basis regardless of being present in office, on vacation or on an international business trip.
Personal skills and behaviours
Excellent communication skills (written and oral) with all clients and work colleagues.
Languages written and spoken: English (mandatory), Arabic, French, Hindi, Urdu etc. (desirable) on a geographical needs basis.
The skill to deal with all types of people and give first impressions to prospects and clients.
Capable of handling strong-willed, articulate wealthy, financially astute individuals as well as those who are very poor in financial acumen. This is in tandem with being able to successfully handle a range of client behaviours.
Attend networking events to attract new clients, develop current base and maintain close contact with existing clients to keep them informed about market developments.
Strong commercial and financial capability and ability to articulate well.
An ability to persuasively influence and negotiate with others.
A positive optimistic "can do, will help, always going the extra mile" attitude with clients and colleagues.
Ability to prioritise, delegate and organise personal time effectively to meet a wide range of time critical tasks.
Experience
Track record of excellent academic performance from a reputable university, preferably in business, economics, marketing and/or an MBA or accountancy/finance background.
Strong relationship management and new/ongoing business development skills.
At least 5 years' experience as an "industry hand" in private banking coupled with experience in other banking environments and investment companies.
Experienced problem solver in tandem with decision making.
About us
First Abu Dhabi Bank (FAB) is the largest bank in the UAE and one of the world's largest and safest financial institutions. We offer a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. Our commitment to excellence and innovation drives us to provide top-tier financial solutions to our clients.
Life at FAB
Working at FAB means being part of a team of talented and passionate individuals with a shared vision to support the ambitions of our stakeholders to "grow stronger." We embrace the needs of our customers across the globe with a sense of responsibility and confidence driven by extensive expertise that can only be delivered by an ambitious world-class organization.
Career development
FAB offers unique career choices, a chance to innovate, craft solutions for the future, and express yourself in a performance-based culture that will unleash the best in you. Whether you are an experienced professional or just starting your career, FAB provides a range of learning and development initiatives to support all employees through training and skill development.
Our values
At FAB, we place our customers at the core of our activities, live our values each day in every way, celebrate achievements, and empower each other to deliver leading solutions. We have structured plans for the recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globally that rewards your hard work and dedication.
Join our team and be part of a journey to shape the future of banking.
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