Requirements
A detailed knowledge of FAB policies, procedures, and processes including anti-money laundering, OFAC, and 'know your customer' requirements is essential. An in-depth knowledge of private banking disciplines (banking, investment/portfolio management, fiduciary) and offshore jurisdictions is required. A solid understanding of retail, corporate, and treasury-based investment banking products is necessary. Ability to closely follow financial markets and provide holistic advice is crucial. Extensive knowledge of the local and offshore marketplace and best practice relationship management, business development, and marketing techniques are expected. Strong commercial and financial capability, persuasive influence, negotiation skills, and a track record of excellent academic performance are required. At least 5 years of experience as an "industry hand" in private banking, coupled with experience in other banking environments or investment companies, is mandatory.
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
Investment Management
Company Industry
Finance, Investment & Asset Management
Job summary
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 NRI segment. To achieve superior sales revenues and AUMs above a predetermined target and increase FAB's market share in the NRI 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 marketing plan for private banking. Building own and managing 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's offerings (group and/or open architecture) by initiating and supporting internal processes and workflows. 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 NRI clientele.
Key responsibilities
To 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 and maintain business via referrals and recommendations within the group. Manage specific projects end to end and 360 degrees including the managing and liaising of 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. Coordinates and promotes prospects and business with other relationship managers as well as other group coordinates globally. Promotes the cross selling between group branches and offices in the Gulf and elsewhere globally for the NRI segment. Develop and maintain strong relationships with decision makers in key positions and turn relationships into sources of referral (inwards and outwards). Initiates proactively solutions, sales, and market initiatives. Participates with others in product development and marketing.
Solicits 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.). Develops new investment relationships, attracts new NRI clients to FAB. Furthermore, develops 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). Provides 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.
Assesses 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. Assesses financial needs, risk tolerances and appetite, and develops optimal investment solutions. Ensures clients' relationships are monitored and maintained (completes and updates all reports which includes e.g. KYC, regular call reports, leverage and lending related issues, interest charges paid on time, maturities, etc.). Ensures that clients' portfolios are regularly screened for proper diversification, unless client specifically requests this not to be the case. All other tasks as reasonably and unreasonably requested.
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:
Banking
Fiduciary (wealth protection such as trusts, foundations, offshore companies, etc.)
Portfolio management (execution only, advisory, and discretionary)
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
Requirements / qualifications
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 a substantial knowledge of corporate banking which is an offshoot and ancillary discipline within the private banking portfolio. Excellent written and spoken English. 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. Converts 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 offering (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's requests on a 24/7 and 365 days (including weekends) basis regardless of being present in office, on vacation or on an international business trip. Excellent communication skills (written and oral) with all clients and work colleagues. The skill to deal with all types of people and give first impressions to prospects and clients. Capable of handling strong willed and minded articulate wealthy, financially astute individuals as well as those who are very poor in financial acumen.
Attend networking events to attract new clients, develop current base and maintain close contact with the 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 and always going the extra mile" attitude with clients and colleagues. Ability to prioritize, delegate and organize personal time effectively to meet a wide range of time critical tasks. Track record of excellent academic performance from a reputable university. Strong relationship management and new and ongoing business development skills. At least 5 years experience as an "industry hand" in private banking coupled with experience in other banking environments, investment companies. Experienced problem solver in tandem with decision making.
Preferred / beneficial
Preferable in business, economics, marketing and/or an MBA or accountancy/finance background.
Arabic, French, Hindi and/or Urdu as the case may be relating to client geography.
Languages written and spoken: Arabic, French, Hindi, Urdu, etc. (desirable) on a geographical needs basis.
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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