QNB3889-Vice President Private Banking Business Lead

Job description

Job Summary

The incumbent will be primarily responsible for developing and managing relationships with High Net Worth (UHNW) customers allocated to him, including members of the Ruling Family and Government officials and act as a 'one-stop solution' for all Private Banking services including banking and investment. fiduciary and ending services. The incumbent must be able to work closely as part of the team with domestic Private Bankers to develop referrals from their client bases.

Main Responsibilities

A. Shareholder & Financial

• Evaluate Private Client's financial data and/or investment objectives and coordinate with Asset Management team to recommend strategies based on the client's risk profile and personal financial statements.
• Provide inputs to the SVP Private Banking Sales in developing and implementing strategies and plans to achieve all volume, revenue, and profit targets for the Private Banking (IJHNW) segment.
• Implements KPI's and best practices for VP Private Banking Sales role.
• Promote cost consciousness and efficiency and enhance productivity, to minimise cost, avoid waste. and optimise benefits for the bank.
• Act within the limits of the powers delegated to the incumbent and delegate authority to the respective staff and monitor exercise of the same.
• Demonstrate clear understanding of the important factors behind the bank's financial & non-financial performance.

B. Customer (Internal & External)

• Inspire private banking team and lead by example to achieve business targets providing a very high level of service to clients.
• Take responsibility for the most demanding clients (personal and corporate).
• Build and maintain proactively, strong relationships with Private Banking client base.
• Assess clients investment objectives, risk profile, liquidity preference, investment return expectations and times horizons.
• Coordinate with Asset Management team to Propose, implement and undertake ongoing monitoring of suitable investment strategies for clients making use of full range of investment vehicles including, equities, bonds, property (direct and fund) alternatives (hedge funds, private equity funds) structured products.
• Coordinate with Asset Management team to manage investment portfolios on either advisory or discretionary basis.
• Responsive to the needs of the client base and lead the client focus initiative to ensure that cross referral environment is established in Private Bank thereby ensuring all services offered by the bank are brought to the clients attention where appropriate, eg lending fiduciary, yacht finance etc.
• Act as the single point of contact for all Private Banking services pertaining to HNW customers.
• Ensure customer complaints are handled/ resolved in accordance with internal procedures.
• Provide inputs to the SVP Private Banking Sales in the preparation Of Service Level Agreements (SLAs) with internal departments across the QNB Group which reflect the need for priority servicing of Private Banking customer requests and will accordingly help increase external customer satisfaction.
• Build and maintain strong and effective relationships with internal departments across the QNB Group to ensure priority processing and resolutions of the needs/ queries of such customer including any related operational issues and thereby facilitate achievement of the Group's goals/ objectives.
• Provide timely and accurate information to the external and internal auditors and the Compliance function as and when required on the UHNW customer base.
• To assist customers in all their queries on Bank's International investment products and seek solution to their requests.
• Maintain activities in accordance with Service Level Agreements (SLAs) with internal departments/units to achieve improvements in turn-around time.
• Build and maintain strong/effective relationships with related departments/units to achieve the Group's Objectives.
• Provide timely/accurate data to external/internal Auditors, Compliance, Financial Control and Risk when required.

C. Internal (Processes, Products, Regulatory)

• Provide inputs to the SVP Private Banking Sales for developing a credible set of products to attract and retain valuable customers and thereby increase market share and profitability.
• Lead, develop and implement marketing strategies, in corporation with the SVP Private Banking Sales & Marketing Unit, for the products and services offered by the department.
• Maintain and expand the UHNW customer base through introduction Of innovative products backed by provision of superior services.
• Ensure processes are in place for launch Of new products tailored for the IJHNW customer segment, including the smooth launch of the same.
• Market the Group's products and services to the IJHNW customers (including the Ruling Family members and Government officials).
• Conduct visits to the UHNW customers to strengthen relationships through personalized interaction and at the same time market Group products and services.
• Ensure the approved policies and procedures governing account opening operations (investment, deposit and loan accounts) are adhered to with respect to the documentary and other requirement, including any pertinent legal requirements.
• Comple and presents relevant MIS pertaining to segment/ product-wise performance to the Head Of Private Banking Sales.

D. Learning & Knowledge

• Possess sound knowledge of the private banking business and related risks together with a good knowledge Of operations and control.
• Must posses sound knowledge of both investment products and general knowledge of the markets.
• Proactively identify areas for professional development of self and undertake development activities.
• Seek out opportunities to remain current with all developments in professional field.

E. Legal, Regulatory, and Risk Framework Responsibilities

• Comply with all applicable legal, regulatory and internal compliance requirements inc uding, but not limited to, Group Compliance Policies and Procedures (AML & CTF. Sanctions policy, Data Protection Policy, Fraud Control policy, Whistle Blowing policy, Conflict of Interest and Insider Dealing Policy).
• Understand and effectively perform your role under the Three Lines Of Defence principle to identify measure, monitor, manage and report risks.
• Ensure systematic good outcomes for clients in accordance with Conduct Risk policy.
• Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.
• Maintain appropriate knowledge to ensure full qualification to undertake the role.
• Complete all mandatory training provided by the Bank, attain, and maintain the required levels of competence.
• Attend mandatory (internal and external) seminars as instructed by the Bank.

F. Other

• Ensure high standards of data protection and confidentiality to safeguard commercially sensitive information.
• Maintaining utmost confidentiality concerning customer and internal bank information obtained during the course of business and provide such information on a need to know basis only to Senior Management of QNB, Audit and Compliance functions, and relevant Regulators.
• Maintain high professional standards to uphold QNB's reputation and to strengthen its market leadership position.
• All other ad hoc duties/activities related to QNB that management might request from time to time.

Education and Experience Requirements

• University graduate preferably with a Major in Marketing, Banking, Finance, Accounting, Economics, Business Administration.
• A minimum of 12 years of relevant experience in Private Banking or related fields, and having exposure to both GCC and European/International markets.
• Experience in developing and implementing Private Banking strategies is preferred.
• Well-informed of the market competitive structure, industry practices and any regulations for the private banking segment with at least 3 years' experience in local environment.
• Must have demonstrable track record of success in accruing and retaining significant levels of new business.
• Proven track record in acquiring and managing HNW/UHNW client relationships and delivering business growth
• Strong leadership experience in managing and developing Private Banking sales teams (preferential)
• Experience in cross-border wealth management and international Private Banking business
• Demonstrated ability to execute Private Banking strategies and deliver measurable business results
• Strong stakeholder management skills across Risk, Compliance, Credit, Product, and other relevant functions

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