Executive Director Private Banking

Job description

• Division: Personal, Wealth & Business Banking

Company Description

First Abu Dhabi Bank is an inclusive environment where each person values the experiences, perspectives, ideas and beliefs of others.

We’re in a unique position to learn from all our colleagues, combining international experience with deep cultural knowledge and local expertise.

At FAB, you’ll have the support of your team and a strong relationship with your line manager, who will trust you with responsibility and recognize your good performance.

As we embrace different ways of seeing the world, listening to each other and respecting different viewpoints, we grow stronger – together.

Job Description

Key Accountabilities:

Assumes responsibility of Private Banking P&L in Singapore and ensures effective cross-selling of the bank's products and services.

Operational:

• Participates in marketing activities for high net worth and corporate relationships.
  
  
• Manages the implementation of credit process within his authority limits to high net-worth individuals in order to build a sound credit portfolio.
  
  
• Oversee sales and distribution efforts including sales force/ channels management and participating in client calls with coverage and product teams where required.
  
  
• Support on product development efforts and oversee successful implementation of new products and services tailored for Private Banking clients.
  
  
• Supervises Private Banking RMs in the growth, acquisition, and retention of high net worth clients.
  
  
• Participates in selected community activities and organizations to enhance the institution's prestige with customers and generate new business.
  
  
• Keeps abreast of any legal developments that may impact the Private Banking business.
  
  
• Distributes information throughout the bank as and when required for effective communication.
  
  

Administrative Management:

• Support on development of Private Banking policies and procedures.
  
  
• Ensures compliance with applicable regulations and guidelines and internal policies and processes.
  
  
• Work cross-functionally with other departments to cross-sell, up-sell and create synergies.
  
  
• Drive and achieve revenue targets for the department.
  
  
• Lead team of relationship managers and/ or advisors to win new businesses and drive penetration of new advisory services into existing client base.
  
  
• Continuously monitor, examine and develop profitability of client portfolio and identify new areas for development.
  
  
• Coordinates with other units (e.g. support services) to ensure availability of required support infrastructure (e.g. operations).
  
  

People:

• Support development of a strong team through effective training, coaching and mentoring and groom potential successors for all positions.
  
  
• Monitors performance and appraises direct reports against assigned targets.
  
  
• Assists direct reports in reaching stated sales levels by conducting regular and frequent joint calls and by coaching/guiding RMs to achieve targets.
  
  
• Continuously improves staff satisfaction and minimizes turnover.
  
  

Risk:

• Ensures adherence to FAB’s procedures and policies.
  
  
• Ensures that any material regulatory breaches are escalated to the appropriate Risk teams.
  
  
• Reviews any Operational Losses and works with the appropriate Risk teams to ensure corrective action is completed.
  
  

Customer Growth:

• On-board new HNW, EAMs, family office clients in APAC, GCC, NRIs, and service existing relationships
• Bring own book of clients and AUM in addition to existing clients in FAB Singapore.
  
  
• Manage growth in own book of clients, AUM and revenues
• Assist to increase penetration of Investment, Insurance, Treasury and lending products within client portfolios
• Contribute to increase in overall AUM of PB business
• Generate fee, forex and interest income
• Ensure compliance to KYC/AML policies (as prescribed)
• Ensure adherence to bank’s policies for client management and sales of PB products
• Ensure overall compliance to regulations and qualification criteria from MAS

Job Context:

MAS-Individual Accountability & Conduct

• Designated as “Material Risk Personnel - MRP” as per MAS-Individual Accountability and Conduct Guidelines
• Adhering to the Fit and Proper requirements of the bank
• Confirm and attest to the Job Description and Balance Scorecard (if applicable) on a periodic basis
• Degree of accountability: Determination whether and to what extent you may be accountable for misconduct committed by employees under your purview, factors such as your consent or level of knowledge of or participation in the misconduct, or whether you could reasonably be expected to have been aware or to have taken adequate steps to address the issue, shall be taken into consideration.
  
  The bank shall conduct the necessary investigations and, depending on the facts and circumstances of the case, take the appropriate action, including referring the case to MAS or other relevant authorities where necessary.
  
  
• Responsible for the timely completion and approval of MRP assessments of self and employees under purview
• Adhere to the Bank's Code of Conduct

#LI-MM2

Qualifications

Knowledge & Experience:

• Post Graduate degree in Management / Commerce/Finance/Economics or equivalent qualification from a recognised university
• Minimum 15 years of hands-on experience in relationship handling
• Strong sales, negotiation and client servicing skills
• Performance in a similar role in UAE / Asia region
• Should Pass / Passed Client Advisory and Competency Standards Assessment (CACS papers I & II)
• Meets MAS qualification criteria for Financial Advisors
• Display high level of integrity to customers and the Bank

Preferred

• Familiar with the banking and financial regulatory framework in Singapore, India, UAE
• Experience with NRI, UAE, APAC HNW and Family Office customers

Skills:

• Fluent in English.
  
  Knowledge of Arabic will be an advantage
• Excellent communication and interpersonal skills
• Collaborative team player and highly adaptable to the changing needs of internal and external customers
• Sensitive to multi-cultural work environment
• Ability to multi-task, attentive to details, proactive and flexible.
  
  
• Ability to perform effectively under pressure and within tight deadlines.
  
  
• Customer oriented and always looking out for ways to improve process and services.
  
  

Job Location

Required Skill Profession

Financial Advice & Private Banking