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, with specific emphasis on young professionals.
Job description
Key Performance Areas
New business development
- Acquire new customers (high net-worth affluent individuals, especially but not limited to young professionals) 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.
- Establish, build and strengthen one-on-one relationships with customers, based on mutual respect, to retain customers and gain word-of-mouth referrals.
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.).
- 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 SLAs are adhered to.
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
Required Competencies
- Deciding and Initiating Action
- Relating and Networking
- Persuading and Influencing
- Presenting and Communicating Information
- Analysing
- Delivering Results and Meeting Customer Expectations
- Entrepreneurial and Commercial Thinking
Minimum requirements
Knowledge/Skills/Experience
- At least 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.
- 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.
- Understanding of the banks products in respect of service level agreements and the banks 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.
Qualifications
- Relevant business/financial degree
- Administration/Management/Finance/Marketing)