Director, Private Banking - CIS

Role Overview

Director, Private Banking - CIS at First Abu Dhabi Bank (FAB), based in the CIS region.

Role Purpose

Develop and expand private banking business across diverse CIS markets, serving UHNWI and HNWI clients and family offices across onshore and offshore locations. Deliver superior sales revenues and AUMs above predetermined targets, increase FAB's market share in the CIS segment, and provide clients with full investment solutions and maximum personalized service.

Key Responsibilities

Business Development & Client Acquisition

• Develop business across diverse markets and regions within all areas of private clients, family offices of UHNWI and HNWI, across numerous booking centers in both offshore and onshore locations.
• Maintain and develop a client base of HNWI and UHNWI, providing excellent service to develop net new business for the group and obtain or maintain business via referrals and recommendations.
• Generate new business through own sources, existing professional connections, and bank introductions, leveraging strong interpersonal skills and experience in managing high-profile client relationships.
• Develop new investment relationships and attract new CIS clients to FAB; develop the private client side of FAB's key strategic clients, including Directors of Multinational companies and UAE/GCC/Sub-Continent diaspora-based companies.
• Maintain and expand current and future client base, acquiring net new business via referrals, contacts, and marketing.
• Identify opportunities externally and from within the Group.
• Develop and maintain strong relationships with decision makers in key positions and convert relationships into sources of referral, both inward and outward.
• Attend networking events to attract new clients, develop the current base, and maintain close contact with existing clients to keep them informed about market developments.

Portfolio & Relationship Management

• Build and manage a portfolio of UHNWI and HNWI clients, providing maximum personalized services.
• Identify and segment target markets, develop business to widen portfolios, and implement strategic and marketing plans for Private Banking.
• Manage specific projects end-to-end and 360 degrees, including liaising with other group colleagues.
• Assess prospects by completing full vetting and due diligence processes addressing PEPs, OFAC, AML, and KYC to international standards.
• Assess clients' financial needs, risk tolerances, and appetites, and develop optimal investment solutions.
• Ensure clients' relationships are monitored and maintained by completing and updating all reports, including KYC, regular Call Reports, Leverage/Lending issues, interest charges, and maturities.
• Ensure that clients' portfolios are regularly screened for proper diversification, unless clients specifically request otherwise.
• Provide advice and ultra-high level of solutions and service 24/7–365 days of the year, regardless of being in the office, on vacation, or on international business trips.

Cross-selling & Promotion

• Coordinate and promote prospects and business with other RMs and other Group coordinators globally.
• Promote cross-selling between Group branches and offices in the Gulf and elsewhere globally for the CIS segment.

Product & Market Initiatives

• Proactively enhance Private Banking offerings (Group and/or Open Architecture) by initiating and supporting internal processes and workflows.
• Initiate proactively solutions, sales, and market initiatives.
• Participate in product development and marketing.
• Solicit business primarily in the trilogy of Private Banking: Banking, Fiduciary (Wealth Protection such as Trusts, Foundations, Offshore Companies), and Portfolio Management (Execution only, Advisory & Discretionary), and also including derivatives such as DCDs, esoteric funds such as aircraft operating leases, and mezzanine debt.

Administrative & Compliance

• Complete all other tasks as reasonably requested.

Qualifications & Experience

• Track record of excellent academic performance from a reputable university, preferably in business, economics, marketing, MBA, or accountancy/finance background.
• At least 5 years' experience as an industry hand in private banking, coupled with experience in other banking environments and investment companies.
• Experienced problem solver with strong decision-making capability.
• Strong relationship management and new/ongoing business development skills.

Skills & Competencies

Technical Knowledge

• Detailed knowledge of FAB policies, procedures, and processes, including anti-money laundering requirements, OFAC, and know-your-customer requirements in relation to the International Private Banking market.
• In-depth knowledge of the trilogy of Private Banking disciplines: Banking, Investment/Portfolio Management, and Fiduciary (Wealth protection via offshore trusts, companies, and foundations).
• Solid understanding of varied offshore jurisdictions such as Switzerland, UK, US, Jersey, Cayman Islands, BVI, and free zones domiciled in the UAE/GCC.
• In-depth knowledge of all retail, corporate, and treasury-based investment banking products (vanilla and derivatives) both within Private Banking and across other banking divisions.
• Ability to closely follow financial markets and use broad knowledge of various investment vehicles to provide holistic advice to clients.
• Extensive knowledge of the local and offshore marketplace and opportunities to grow profitable business from a base in Geneva.
• Excellent knowledge and understanding of best practice relationship management, business development, and marketing techniques in international private banking.
• Substantial knowledge of Corporate Banking, an offshoot/ancillary discipline within the Private Banking portfolio.

Languages

• Excellent written and spoken English (mandatory).
• Arabic, French, Hindi, and/or Urdu relating to client geography (desirable).

Professional & Personal Competencies

• Work independently, develop professional long-term relationships, and establish an extensive network of potential and actual individual and corporate high net worth clients.
• Build excellent relationships with a HNW client base by providing excellent service to obtain business referrals.
• Convert prospects into clients.
• Identify and exploit opportunities; possess skills to identify, explore, and transact new market segments and develop business to widen the private bank's portfolio of offerings such as Dual Currency Deposits.
• Identify new market segments and develop that business to widen the Bank's portfolio offering and increase profitable revenues.
• Ensure that client portfolios have required diversification in investments to meet each client's present and future needs.
• Work with integrity when assessing each client's financial needs to ensure the correct investment solution is being recommended.
• Think and mastermind bespoke solutions for clients who require esoteric tailor-made solutions.
• Manage prospects' due diligence and ensure clients' portfolios are screened for required compliance and performance by diversification of investments to meet clients' present and future needs.
• React quickly and professionally to all clients' requests on a 24/7 and 365-day basis (including weekends), regardless of being present in office, on vacation, or on international business trips.
• Communicate excellently in written and oral form with all clients and work colleagues.
• Deal with all types of people and create strong first impressions with prospects and clients.
• Handle strong-willed, articulate wealthy, financially astute individuals as well as those with poor financial acumen; successfully manage a range of client behaviours.
• Demonstrate strong commercial and financial capability and articulate well.
• Persuasively influence and negotiate with others.
• Maintain a positive, optimistic "can do, will help + always going the extra mile" attitude with clients and colleagues.
• Prioritize, delegate, and organize personal time effectively to meet a wide range of time-critical tasks.

Additional Information

Performance is measured by private banking industry criteria: AUMs (On-balance Sheet + Off-balance sheet) and Revenues, tracked by number of new relationships opened (Fresh Funds to the FAB Group), number of new relationships transferred from within the FAB Group, and number of existing relationships managed with the primary goal of increasing wallet share.