Private Banker (MT4) - CPW
Listing reference: capbw_001735
Listing status: Under Review
Apply by: 17 July 2024
Position summary
Industry: Banking
Job category: Other: Banking, Finance, Insurance, Stockbroking
Location: Windhoek
Contract: Permanent
EE position: No
Introduction
Provide a relationship-based offering to high net-worth affluent individuals through a pro-active, highly responsive personal approach to meet the financial needs and service expectations of high net-worth individuals. Pro-actively promote a relationship-based offering through operating as a dedicated and primary point of contact for the customer and providing financial solutions which meet the customer expectations in accordance with the customer value proposition of Bank Windhoek. Leverage the Group’s research and expertise resource capabilities to add value to both the customer and the private bank. Maintain a high level of integrity, professionalism and ethical standards whilst building valuable long term relationships with customers
Key responsibilities include continuously improving the relationship management model and customer experience in the private client segment.
• Providing specialist advice on wealth and investment solutions to high net worth / high income clients
• Providing a superior customer service experience
• Maintaining high level client engagement and networking relationships
• Growing client base
• Meet and exceed business and financial targets
• Drives efficiency and quality improvements in processes and systems to positively impact client experience and performance
• Support the customer value proposition strategy for the division
• Compliance with regulatory requirements
Job description
KEY RESPONSIBLE AREAS
New business development
• Acquire new customers (high net-worth affluent individuals) as per the criteria outlined in the segment value proposition and reflected by the market segment strategy and sales targets.
• Pro-actively identify cross-sell opportunities within own portfolio of customers to maximise life cycle opportunities. Be guided by the segment value proposition and sales targets as to what the priority products are both from a bank and customer perspective.
• Conduct a needs analysis with all new and existing customers to ensure that product opportunities identified are appropriate to meet the customer’s needs and priorities.
• Comprehensively explore customers’ short and long term financial goals/aspirations and keep up to date with changes in the financial needs and financial position of customers. Appreciate the implications of the customers’ lifecycle position and priorities.
• Ensure that the Customer is central to the entire life cycle approach of maximising sustainable value add to both the Customer and the Bank.
• Establish, build and strengthen one-on-one relationships with customers, based on mutual respect, to retain customers and gain word-of-mouth referrals.
• Commitment to Service excellence and superior service delivery aligned to SLA’s and turnaround time commitments.
• Pro-actively identify cross-sell opportunities within own portfolio of customers to maximise life cycle opportunities. Be guided by the segment value proposition and sales targets as to what the priority products are both from a bank and customer perspective.
• Conduct a needs analysis with all new and existing customers to ensure that product opportunities identified are appropriate to meet the customer’s needs and priorities.
• Comprehensively explore customers’ short and long term financial goals/aspirations and keep up to date with changes in the financial needs and financial position of customers. Appreciate the implications of the customers’ lifecycle position and priorities.
• Ensure that the Customer is central to the entire life cycle approach of maximising sustainable value add to both the Customer and the Bank.
• Establish, build and strengthen one-on-one relationships with customers, based on mutual respect, to retain customers and gain word-of-mouth referrals.
• Commitment to Service excellence and superior service delivery aligned to SLA’s and turnaround time commitments.
Private Banking Processes
• Ensure that customers are well informed with regards to lending application processes (e.g. vehicle finance, home loans, overdraft, credit card, personal loans, etc.), credit maintenance processes (e.g. annual reviews) and account conduct expectations (e.g. minimum account balances, provision for debit orders and cheque payments, etc.).
• Clearly and transparently inform customers of contract/account terms and conditions, fees, rates and commissions where applicable. Be prepared to articulate the value added if challenged on pricing.
• Ensure that qualifying customers (as defined by the market segment value proposition) are timeously migrated from the Branch to the Private Bank.
• Retain ownership of customer requests, complaints and applications – follow every task through to completion keeping the customer updated on progress.
• Ascertain when customers require specialist advice and arrange appropriate introductions with specialists. Generate and pass on leads. Follow up to ensure that the customer is satisfied with the service received.
• Manage credit and operational risks in accordance with laid down policies and procedures.
• Establish and build knowledge and understanding of product and credit application processes to eliminate reworking and ensure acceptable turnaround times for customers.
• Clearly and transparently inform customers of contract/account terms and conditions, fees, rates and commissions where applicable. Be prepared to articulate the value added if challenged on pricing.
• Ensure that qualifying customers (as defined by the market segment value proposition) are timeously migrated from the Branch to the Private Bank.
• Retain ownership of customer requests, complaints and applications – follow every task through to completion keeping the customer updated on progress.
• Ascertain when customers require specialist advice and arrange appropriate introductions with specialists. Generate and pass on leads. Follow up to ensure that the customer is satisfied with the service received.
• Manage credit and operational risks in accordance with laid down policies and procedures.
• Establish and build knowledge and understanding of product and credit application processes to eliminate reworking and ensure acceptable turnaround times for customers.
Relationship Building
• Determine when new or existing customers require Corporate Banking and arrange introductions accordingly. Interact and build strong working relationships with Corporate Banking colleagues to entrench the holistic customer relationship with the bank.
• Interact frequently and build strong working relationships with enabler and fulfilment functions (including credit specialists, product specialists and wealth specialists) to shorten turnaround times and in addition ensure SLA’s are adhered to.
• Cooperate and work effectively with others in pursuit of team goals by sharing information, providing support, showing care and being considerate of other team members.
• Determine when new or existing customers require Corporate Banking and arrange introductions accordingly. Interact and build strong working relationships with Corporate Banking colleagues to entrench the holistic customer relationship with the bank.
• Interact frequently and build strong working relationships with enabler and fulfilment functions (including credit specialists, product specialists and wealth specialists) to shorten turnaround times and in addition ensure SLA’s are adhered to.
• Cooperate and work effectively with others in pursuit of team goals by sharing information, providing support, showing care and being considerate of other team members.
SUCCESS INDICATORS
• Sales targets achieved/exceeded
• Significant increase in new-to-bank relationships
• Continuous referrals from existing customers in portfolio
• High cross-sell ratios at a customer and portfolio level
• Minimal customer attrition – high level of portfolio growth
• Increase in market share
• High performing Client Service Manager
• Significant increase in new-to-bank relationships
• Continuous referrals from existing customers in portfolio
• High cross-sell ratios at a customer and portfolio level
• Minimal customer attrition – high level of portfolio growth
• Increase in market share
• High performing Client Service Manager
PROBLEM SOLVING, PLANNING AND DECISION MAKING
• Identify potential challenges & opportunities and generate possible solutions within the operational, credit and product guidelines and criteria.
• Take into account credit and product policies as well as segment and country strategy to formulate solutions that benefit both the customer and the bank.
• Apply financial planning, credit and risk management principles (critical).
• Research the total potential customer relationship with the bank (transactional, lending, investment, wealth and corporate banking relationships) as well as the value of connection/ sphere of influence of the high net-worth individual when solving problems and suggesting solutions.
• Take into account credit and product policies as well as segment and country strategy to formulate solutions that benefit both the customer and the bank.
• Apply financial planning, credit and risk management principles (critical).
• Research the total potential customer relationship with the bank (transactional, lending, investment, wealth and corporate banking relationships) as well as the value of connection/ sphere of influence of the high net-worth individual when solving problems and suggesting solutions.
PLANNING
• Place appropriate emphasis on preparing for customer engagements to ensure that maximum value is added.
• Ensure that diary management is aligned with calling programme and that sufficient flexibility exists for customer appointments.
• Formulate annual, quarterly, monthly and weekly action plans to achieve portfolio sales and financial targets.
• Understand the long term implications of pricing, acquisition and sales strategies.
• Plan to build long term relationships that take into account the whole customer Life Cycle.
• Analyse customers’ financial behaviour, current product holding and short to long term financial needs to identify sales opportunities that are mutually beneficial to both the bank and the customer.
• Ensure that arrangements are made that someone is always available to attend to the portfolio in the event that either/both the Private Banker’s Assistant or Private Banker is unavailable
• Ensure that diary management is aligned with calling programme and that sufficient flexibility exists for customer appointments.
• Formulate annual, quarterly, monthly and weekly action plans to achieve portfolio sales and financial targets.
• Understand the long term implications of pricing, acquisition and sales strategies.
• Plan to build long term relationships that take into account the whole customer Life Cycle.
• Analyse customers’ financial behaviour, current product holding and short to long term financial needs to identify sales opportunities that are mutually beneficial to both the bank and the customer.
• Ensure that arrangements are made that someone is always available to attend to the portfolio in the event that either/both the Private Banker’s Assistant or Private Banker is unavailable
DECISION MAKING
• Assimilate and integrate new information quickly
• Monitor changes in broader local market environment and changes in customer behaviour to identify opportunities or potential challenges that require rapid response.
• Assess situations quickly and take initiative within limits of authority. Seek assistance timeously.
• Monitor changes in broader local market environment and changes in customer behaviour to identify opportunities or potential challenges that require rapid response.
• Assess situations quickly and take initiative within limits of authority. Seek assistance timeously.
Minimum requirements
QUALIFICATION
Relevant business/financial degree ( BComm – Business Administration/Management/Finance/Marketing)
EXPERIENCE
• Up to 8 years extensive sales/marketing experience. Deep knowledge of the private banking / wealth management.
• Good knowledge of competitor offerings and strategies to target the affluent/high net worth market.
• Thorough understanding of the local affluent/high net worth market.
• Understanding of the high net-worth individual and affluent market – typical profile, lifestyle, financial needs, etc.
• Sound knowledge of all products and channels relevant to this market, including qualifying criteria, product/channel features and benefits, pricing, product/channel combination possibilities and efficient product usage through self-service channels.
• Good understanding and interpretation of financial statements
• Understanding of the bank’s products in respect of service level agreements and the bank’s service provision networks.
• Understanding of which products are most required by high net-worth individuals and/or most beneficial to this market as well as appreciation of which products are most profitable to the bank.
• Knowledge of local market environment and financial issues that may impact portfolio.
• Thorough understanding of credit principles as well as application and maintenance processes
• Good knowledge of competitor offerings and strategies to target the affluent/high net worth market.
• Thorough understanding of the local affluent/high net worth market.
• Understanding of the high net-worth individual and affluent market – typical profile, lifestyle, financial needs, etc.
• Sound knowledge of all products and channels relevant to this market, including qualifying criteria, product/channel features and benefits, pricing, product/channel combination possibilities and efficient product usage through self-service channels.
• Good understanding and interpretation of financial statements
• Understanding of the bank’s products in respect of service level agreements and the bank’s service provision networks.
• Understanding of which products are most required by high net-worth individuals and/or most beneficial to this market as well as appreciation of which products are most profitable to the bank.
• Knowledge of local market environment and financial issues that may impact portfolio.
• Thorough understanding of credit principles as well as application and maintenance processes
