Job Title: Head; Private Banking
To provide leadership that will enhance the Affluent and Core Middle (Mass Affluent) product and strategy as well as to deliver profitable business growth targets for clients within this market segment. This includes defining market segment, developing strategic business plans to acquire new customers;Grow and deepen private banking customer relationships through effective relationship management, implement new products and services, recommend relevant financial solutions, establish sales targets and ensure the Bank sustains competitive advantage in this customer segment
- Implement strategic business plans to acquire, retain and grow the Affluent and Mass Afflluent customer segments. Identify opportunities to cross sell the full range of the bank’s products and services
- Conduct customer focus groups and competitor reviews to determine the appetite for differentiated products in the Retail Affluent and Mass Affluent customer segments
- Draw up monthly plans for achieving new business and customer acquisition goals committed for the assigned Private Branches
- Develop sales strategies for Private Branches and manage the sales campaign for recruiting and retaining customers
- Oversee the customisation of Retail Private products by focusing the outputs of the product management team, quality-check and taking the enhanced products through the formal New Product Approval Process, ensuring that required governance documentation is kept on file as evidence of risk, legal, tax, operational and accounting reviews/approvals
- Liaise with the CRB in building the Private banking and wealth management platform.
- Formulate suitable sales and marketing plan to grow the client base and maintain robust pipeline of business opportunities.
- Liaise with marketing team on organizing any related marketing campaigns and events with clients to support the product range
- Deliver an optimized market mix relative to the core target group and identify the roadmap that will lead to achievement of the department’s goals as well as the overall goals of the business
- Understand basic revenue models and P/L; meet financial objectives by forecasting; preparing an annual budget; scheduling expenditures; analysing variances, performance reviews and initiating corrective actions.
- Monitor the development of the business products from its conceptualization to testing and launch
- Together with analytics team, undertake detailed analyses of sales performance for the purpose of reporting sales strategy successes, weaknesses, and opportunities to Retail MANCO, Retail sales and Zone management.
- Ensure Relationship Managers, manage client portfolios, expand the banks’ relationships with existing and new clients
- Support Zonal Mangers to draw-up executable plans and implement/monitor the agreed branch deliverables, working closely with colleagues across the bank to drive Private Branch sales to a successful close, and develop processes that increase selling repeatability and scalability.
- Establish and oversee the adoption of departmental vision and values
- Accountable for effective resource planning, management, reporting and coordination of projects/initiatives to deliver change in line with availability and business requirements.
- Build and develop high performing team through embedding performance development culture.
- Ensure team members own and manage customer queries and complaints by taking ownership and resolving in timely manner; Act as escalation point for their unresolved queries and complaints.
- Create an empowering environment for team members, encourage individual ownership and initiative.
- Business understanding of the characteristics of Private clients, consumer buying behavior and pricing sensitivity, and knowledge on private banking offerings for Retail Banking
- Sound understanding of banking operations and systems.
- Demonstrated strength in driving operational efficiencies
- Strong written and oral communication skills; Strong interpersonal skills
- Planning and organizing skills to maintain service deadlines and plan processes to maintain deliverables
- Self-empowerment to enable development of open communication, teamwork and trust that are needed to support performance and customer-service oriented culture.
- Strong leadership skills; strong influencing and negotiation skills.
- Personal motivation and drive with the ability to work independently and in a collaborative environment
- Strong Relationship Management skills
Qualifications and Experience
- Degree in business studies, Banking, Finance or economics, preferably with a Master’s degree in business administration and or management
- Minimum 10 years of relevant banking experience, 5 of which must be in a senior role in Private banking and relationship management.
NMB Bank Plc is committed to creating a diverse environment and is proud to be an equal opportunity employer.
Please be advised that if you are not contacted within 14 working days of the advert closing date then you have not been shortlisted.
“NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it”.
Application Deadline: 01st December, 2020.
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