Director, Private Banking - NRI

Role Overview

Director, Private Banking - NRI at First Abu Dhabi Bank. The role is based in Abu Dhabi and focuses on developing private banking business across diverse markets and regions serving ultra-high net worth individuals (UHNWI), high net worth individuals (HNWI), and family offices within the NRI (Non-Resident Indian) segment.

Role Purpose

To develop and manage a sophisticated private banking portfolio for UHNWI and HNWI clients across diverse offshore and onshore locations, achieve superior sales revenues and assets under management (AUMs) above predetermined targets, and increase First Abu Dhabi Bank's market share in the NRI segment through superior client service and tailored investment solutions.

Key Responsibilities

Client Portfolio Management

• Build and manage a portfolio of UHNWI and HNWI clients, providing maximum personalized services.
• Maintain and develop a client base of HNWI and UHNWI, providing excellent service to develop net new business for the group.
• Obtain and maintain business via referrals and recommendations within the group.
• Develop and maintain strong relationships with decision makers in key positions, turning relationships into sources of referral both inwards and outwards.
• Ensure clients' relationships are monitored and maintained, completing and updating all reports including KYC, regular call reports, leverage and lending related issues, interest charges, and maturities.
• Ensure clients' portfolios are regularly screened for proper diversification, unless clients specifically request otherwise.

Business Development

• Develop business across all areas of private clients, family offices, and NRI segments within competitive offshore and onshore booking centers.
• Develop new business through own sources, existing professional connections, and introductions via the bank.
• Maintain and expand current and future client base, acquiring net new business via referrals, contacts, and marketing.
• Develop new investment relationships and attract new NRI clients to First Abu Dhabi Bank.
• Develop the private client side of First Abu Dhabi Bank's key strategic clients' segment, including directors of multinational companies and UAE, GCC, and sub-continent diaspora-based companies.
• Identify and segment target markets, develop business to widen portfolios, and implement strategic and marketing plans for private banking.
• Identify new market segments, explore and transact within new market segments, and develop business to widen the private bank's portfolio of offerings.

Cross-Selling and Coordination

• Coordinate and promote prospects and business with other relationship managers as well as other group coordinators globally.
• Promote cross-selling between group branches and offices in the Gulf and elsewhere globally for the NRI segment.
• Manage specific projects end-to-end and 360 degrees, including managing and liaising with other group colleagues.

Product Development and Solutions

• Proactively enhance private banking offerings (group and/or open architecture) by initiating and supporting internal processes and workflows.
• Participate with others in product development and marketing.
• Solicit business primarily, but not limited to the trilogy of private banking disciplines: banking, fiduciary services (wealth protection such as trusts, foundations, offshore companies), and portfolio management (execution only, advisory, and discretionary).
• Solicit business including derivatives (for example dual currency deposits) and esoteric funds (aircraft operating leases, mezzanine debt, etc.).
• Spot opportunities externally and from within the group.
• Develop and recommend optimal investment solutions based on assessment of financial needs and risk tolerances and appetite.
• Create bespoke, tailored solutions for clients requiring esoteric tailor-made solutions.

Compliance and Due Diligence

• Assess prospects with the aim of converting to clients by conducting full vetting and due diligence processes addressing issues connected with PEPs, OFAC, AML, and KYC to international standards.
• Assess each client's financial needs with integrity to ensure the correct investment solution is being recommended.
• Manage prospects' due diligence in tandem with ensuring clients' portfolios are screened for required compliance and performance by diversification of investments to meet clients' present and future needs.

Client Service

• Provide clients with above-optimum levels of service and full investment solutions.
• 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 an international business trip.
• React quickly and professionally to all clients' requests on a 24/7 and 365 days basis (including weekends), regardless of location.
• Attend networking events to attract new clients, develop current base, and maintain close contact with existing clients to keep them informed about market developments.

Performance Metrics

• Achieve and exceed predetermined targets for AUMs (on-balance sheet and off-balance sheet).
• Generate revenues through opening new relationships (fresh funds to the First Abu Dhabi Bank group), transferring relationships from within the First Abu Dhabi Bank group, and managing existing relationships with the primary goal of increasing wallet share.

Qualifications & Experience

• At least 5 years' experience as an industry professional in private banking coupled with experience in other banking environments and investment companies.
• Track record of excellent academic performance from a reputable university.
• Bachelor's degree preferred in business, economics, marketing, or accountancy/finance background; MBA preferred.
• Detailed knowledge of First Abu Dhabi Bank 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 services (wealth protection via offshore trusts, companies, and foundations).
• Solid understanding of varied offshore jurisdictions (for example Switzerland, UK, US, Jersey, Cayman Islands, BVI, and free zones domiciled in the UAE and 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.
• Extensive knowledge of the local and offshore marketplace and opportunities to grow profitable business.
• Excellent knowledge and understanding of best practice relationship management, business development, and marketing techniques in international private banking.
• Substantial knowledge of corporate banking as an offshoot/ancillary discipline within the private banking portfolio.
• Experienced problem solver with decision-making capability.

Skills & Competencies

• Ability to closely follow the financial markets and use broad knowledge of various investment vehicles to provide holistic advice to clients.
• Ability to work independently and develop professional long-term relationships.
• Ability to establish an extensive network of potential and actual individual and corporate high net worth clients.
• Ability to build excellent relationships with an HNW client base by providing excellent service to obtain business referrals.
• Ability to convert prospects into clients.
• Ability to identify, explore, and transact new market segments.
• Ability to ensure client portfolios have required diversification in investments to meet each client's present and future needs.
• Ability to think and mastermind out-of-box bespoke solutions for clients requiring esoteric tailor-made solutions.
• Excellent written and spoken English.
• Excellent communication skills (written and oral) with all clients and work colleagues.
• Ability to deal with all types of people and give first impressions to prospects and clients.
• Capable of handling strong-willed, articulate, wealthy, financially astute individuals as well as those with poor financial acumen.
• Strong commercial and financial capability with ability to articulate well.
• Ability to persuasively influence and negotiate with others.
• Ability to prioritize, delegate, and organize personal time effectively to meet a wide range of time-critical tasks.
• Strong relationship management and new/ongoing business development skills.
• Positive, optimistic "can do, will help, always going the extra mile" attitude with clients and colleagues.
• Arabic, French, Hindi, and/or Urdu as desirable on a geographical need's basis (written and spoken).

Additional Information

• Available to provide services on a 24/7, 365 days basis, including weekends, regardless of being present in office, on vacation, or on international business trips.
• All other tasks as reasonably and unreasonably requested.