Standard Bank Private Banker Jobs in South Africa

Standard Bank Private Banker Jobs in South Africa

Job Purpose

  • Proactively promote a relationship based offering through a primary point of contact, which meets client expectations by providing personalised financial solutions in line with the Value Proposition. Provide a competent relationship based offering to a Sub-Segment within the Private Banking Segment, that provides highly responsive and pro-active financial and business solutions, focused on the managing and building of wealth, in partnership with small business owners supported by expertise of specialists. Maintain a high level of integrity and ethical standards.

    Key Responsibilities/Accountabilities

    Service and Retention

  • Establish and build one-on-one relationships with customers, based on mutual respect, in assigned portfolio by delivering the expected level of service, specifically focusing on a pro-active contact (calling) strategy and programme

  • To ensure successful retention of existing customers in assigned portfolio by strengthening and expanding relationships. This is achieved by intimately understanding the customer, servicing the customer’s business and personal financial needs and focusing on the management of key accounts.

  • To interact and build relationships with Business Banking Account Executive’s and (CIB) Corporate and Investment Banking Relationship Managers, in order to provide a seamless solution to the client’s banking requirements. To assist with related queries where possible, and facilitate when specialist advice is required by referring to Business Banking or CIB.

  • Manage the “Cost of Sales” through evaluation of margins, cost of service and utilisation of the multi-channel delivery strategies, such as actively managing customer migration onto electronic banking channels. Manage customer migration between segments and sub-segments of Private Banking.

  • Actively ensure that customers are migrated to the correct sub-segment, as per the Value Propositions where appropriate.

  • Effectively attend to and monitor customer complaints on portfolio, identify root causes and address at source, to prevent recurrence

  • Proactively e-mail new product information to all customers.

    Profitable growth in portfolio sales

  • Acquire new business for the Executive Sub-Segment market in line with the Customer Value Proposition segment income specifications, acquisition targets and/ or segment strategy to increase market share and specific sales strategies.

  • Maximise bank profitability and ensure value add to customers through cross-selling specifically focusing on wealth and lending opportunities. Manage through use of contribution reports.

  • Join and support business organisations that will assist in the acquisition of appropriate customers.

  • Measure, track and manage sales targets and budgets for portfolio

    Lending Management

  • Structure credit applications effectively, focusing on high quality motivations

  • Advise customers on lending product selection, by recommending products to meet their specific needs

  • Fulfill a training/coaching role through upskilling the Transactional Banker’s regarding their credit knowledge

  • Restructure debt for efficiencies through debt consolidation, thereby bringing a customer’s asset base under one roof

  • Establish a sound working relationship with Credit, to ensure prompt turnaround times, accuracy and deadlines are strictly adhered to

  • Manage the timeous completion of annual credit reviews on the portfolio

    Risk Management and Compliance

  • Ensure complete disclosure to clients in terms of accreditation, service fees and commission, in terms of Financial Advisory and Intermediary Services Act (FAIS)

  • Conduct a needs analysis to identify customer needs effectively when opening new accounts or giving product advice, in line with the Financial Advisory and Intermediary Service Act licence categories

  • Ensure that
    procedures laid down in Group Reference Guide are adhered to and, where flexibility needs to be exercised, that the necessary dispensation is held

  • Ensure proper record keeping in terms of Financial Advisory and Intermediary Services Act as well as the Financial Intelligence Centre Act requirements.

  • Ensure Code of Banking Practice is adhered to

    People management

  • Effective management of direct report/s to ensure that targets and standards are set and achieved, and the quality of work is maintained

  • Actively seek to improve others’ skills and talents by providing coaching, constructive feedback, as well as training opportunities and assignments which challenge their abilities and encourage development.

  • Attend to all matters including administration, pertaining to the management of direct report/s

  • Display co-operation in the pursuit of team goals by sharing information and providing support to others.

    Legislative Compliance

  • In terms of the Financial Advisory and Intermediary Services Act No 37 of 2002 (the Act), no staff member is permitted to provide any advice or intermediary service to a customer, in terms of the final product as determined by the act, unless they have been appointed as a Representative of a licensed Financial Services Provider

  • In your current position you are an accredited representative in terms of the Act, and are therefore not prohibited from giving advice or intermediary service to a customer in terms of a financial product, as determined by the Act

    Minimum Qualification and Experience

  • Matric.

  • Relevant business qualification, e.g. B.Comm (Marketing) or MBA.

  • Understanding of the Private Banking markets customer profile and lifestyle.

  • Sound knowledge of the full product spectrum as relevant to the Private Banking market, including qualification criteria, features, benefits, pricing, product combination possibilities for optimum use and relationship to other more specialised products.

  • Ability to interpret financial statements, management accounts, budgets and cash flows for all types of legal entities.

  • Thorough understanding of Credit Principles and systems (behavioural scoring system).

  • Understanding of current business issues and their impact on the local market.

  • Working knowledge of branch systems and their impact on customer service.

  • Financial management skills.

  • People Management skills.

  • Knowledge of Managing Local Market sales principles.

  • Strong Computer Literacy, able to capture/update customer database, migrate customers to remote channels and optimise service delivery within available technology channels (e.g. e-mail, internet and cellphone banking).

  • Have a thorough understanding and knowledge of self service channels, e.g. Internet

  • Knowledge of the Financial Advisory and Intermediary Services Act.

  • Knowledge of the Code of Banking Practice.

  • Qualifications and experience as determined by the “Fit and Proper Requirements” of the Financial Advisory and Intermediary Services Act.

    How to Apply

  • For more information and job application details, see; Standard Bank Private Banker Jobs in South Africa

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