Team Lead, Private Banking

Job Title: Team Lead, Private Banking
Location: Lagos, Nigeria
Client: Providus Bank

Job Purpose/Summary

The role holder will be responsible for exploring and profitably growing the market and customer base of high net worth/affluent individuals as well as ensuring a sustained increase in Private Banking and Wealth Management Services. This would include discretionary portfolio management, offshore trust services, customer deposits, robust balance sheet (for both assets and liabilities) and revenue from business operations anchored on quality service delivery and creation of positive customer experience.

Job Responsibilities

• • Initiate and coordinate the implementation of approved private banking strategies and business growth plans for the target market segments and customers to ensure the profitable achievement of set performance goals
  • Scan the environment and gather business intelligence that can facilitate the identification of business opportunities, business development and growth imperatives within the private banking/wealth management market segments
  • Drive the acquisition of new and development of existing client relationships within the Private Banking segment by selling the range of private banking products, as well as analysing opportunities to up/cross-sell and maximise the full banking relationships
  • Explore business opportunities in the private banking and wealth management space by networking and signing up premium accounts with the High Net worth/Affluent Individuals, Professional Individuals, including top Executive Management of big corporations, top government officials to the bank’s Private Wealth Management service portfolio
  • Embark on daily customer engagements via in-person visits, telephone calls and emails to generate more business and grow the customer base for personal banking
  • Monitor and review the liability figures of the different product lines and deposit lines to gauge the performance of the Private Banking unit with regards to Value chain reports, onboarding of customers on CIB and MIB, movements in deposits and revenue, balance sheet figures, Profit and Loss, Inflow and Outflows as well as issues analysis and resolution
  • Provide clear direction on all private banking operations by translating set corporate objectives into private and investment banking performance metrics and drives the business sales team to achieve set targets
  • Coordinate the conduct of competitor/market analysis and research, and customer needs analysis on an ongoing basis to ensure continued competitiveness, relevance and profitability of private banking and wealth management offerings
  • Provide market intelligence in supporting the Bank’s efforts to develop new products and new value-added services for private banking customers/clients
  • Liaise with Risk Management and SISM Units to advise on service performance standards and ensure that the credit requests for new and existing facilities are correctly prepared in accordance with bank policies
  • Provide regular credit reviews of Private Banking clients and defends initiated credit applications when presenting to the Credit Management Committee
  • Review adequacy of credit proposals and makes appropriate recommendations to guide informed management decisions
  • Check for anomalies to determine sources of growth or decline in the performance of Private Banking Units and RMs across product/service lines to understand trends, potential changes and areas to focus more attention to achieve sustainable growth
  • Liaise with other Group Heads and Business Managers to facilitate the preparation of annual marketing plans and strategies for wealth management services and liability generation to enable Relationship Managers to achieve targeted growth objectives
  • Conduct monthly review of Balance sheet and Income line performance of private banking staff of the branch against set targets
  • Monitor customer engagement and service delivery quality to ensure standards are maintained to achieve high customer retention and facilitates strong customer relationship management to drive growth in market share
  • Provide hands-on leadership and supervision of the activities of Relationship Managers to ensure optimal achievement of set performance targets
  • Conduct meetings with Team members and operation staff to address all issues that affect customer acquisition, growth, productivity, and performance reports, develop, and agree to improvement action plans, otherwise including general administration of running the Private Banking Unit
  • Review the individual performance of team members against the target set and agreed upon at the beginning of the financial year and makes recommendations on improvement requirements.
  • Coordinate the preparation of periodic (month quarter, annual) performance reports for the Executive Management, and presents the reports as required

Qualifications & Experience

Required

• Minimum of bachelor’s degree in Finance, Accounting, Business Administration, Management and/or any other related field
• Professional Qualification in ACCA, etc.
• Minimum of 10 years of related experience in a bank or related department with at least
• 3 years heading a business/corporate/Institutional banking function at a senior management level

Desired

• Relevant Masters degree e.g. MBA