Description of the Business Line or Department
Our commercial strategy focuses on three main areas:
- Ensure growth through our key client segments: FIM (Financial Intermediaries), KCS (Key Client Segment), Core Segment, International and Piccadilly (Privilege). This role requires primary focus on the FIM segment.
- Tighten our global sales management, notably by combining our indicators by entity and by private banker (AuM, NNMA, NBI, GOI);
- Anchor our risk culture, conduct, Customer Excellence and the Group values described in the Leadership Model in our sales force on a daily basis
For this role this will include Client/Asset gathering, maintenance of existing client book and actively assisting further expansion. Introduction of new client relationships to the Bank. Creation of new portfolio mandates with primary focus on DPM and Managed Advisory.
Summary of the key purposes of the role
The purpose of the Associate Private Banker role is to support Private Bankers in implementing client advice.
The role is intended for those aspiring to be Private Bankers. They will work towards obtaining the required qualifications needed to be RDR compliant in preparation for being ready to transfer in to a Private Banker role.
- Is responsible for providing support to one or more Senior Private Banker(s) / Directors in developing, managing and retaining client relationships with Financial Intermediaries and high net worth individuals as part of a member of a team of private bankers who are focused on one or more target segments, ensuring on-going support to the Private Banking Assistants as required
- Actively assisting in developing client relationships to their full business potential
Summary of responsibilities
- Provide administrative support to Private Bankers. Complete required paperwork and record maintenance, participate in various projects, respond to client enquiries and provide administrative co-ordination with all areas of the bank and, where necessary, the wider SG Group entities
- Regularly attend meetings with Senior Private Banker(s)/Directors and assist with the completion of various client reviews (e.g Suitability Reviews, Periodic reviews, Static reviews) and Credit proposals ensuring full understanding of the on-boarding process and have the ability to document client circumstances appropriately, with the ability to identify high risk and vulnerable clients.
- Under supervision, understand existing client account types and portfolios (e.g asset classes such as Fixed Income/Equity) with the ability to communicate the Bank’s current thinking on balance of portfolios
- Provide, and enhance the reputation of the Bank for, providing high quality relationship management;
- Liaise with Private Banker and middle office functions to ensure that the client proposition is effectively fulfilled and that all business transacted for clients and the post-sale service provided to clients meets the key Treating Customer Fairly outcomes.
- Develop a solid ongoing relationship with each client with whom they have regular contact and in all dealings with clients, both pre-and post-sale, ensuring compliance with the principles of Treating Customers Fairly
- Support the Private Banker in revenue generation from existing and potential clients, at all times be mindful of and adhere to the principles of Treating Customers Fairly
- Identify sales opportunities within existing client book or network
- In agreement with the Team Leader when success is demonstrated in the Associate Private Banker role, when fully competent and signed off in the role, can gradually take on banking only clients from existing Bankers to start developing a client book of your own under direct supervision from your Team Leader
- Continuously seek out self-development opportunities by obtaining appropriate professional qualifications such as CISI Investment Advice Diploma (IAD) and Certificate in Mortgage Advice and Practice (CeMAP) qualifications and expanding experience and product/industry knowledge.
- Proactively seek out self-development opportunities internally by attending weekly investment meetings, Product and Services training and client events. Evidence and document learning ensuring CPD is kept up to date
- Contribute and achieve personal and team targets and conversion rate at quarterly intervals throughout the year with Team Leader
- Use time effectively, balancing personal commitment with the use of other resources to deliver a high quality of service;
- Maintain excellent professional standards through appropriate training and development and keep up to date with developments in the market place;
- Work effectively and successfully within the team and corporate framework
- Perform all duties in accordance with the principles outlined in the SG Code of Conduct, as well as the policies and procedures relevant to your responsibilities, to ensure that you adhere to a culture that treats clients fairly and focuses on the long-term sustainability of client relationships.
- Fully respect SG Policies and Procedures defined locally, at PRIV and at Group Level, in order to control operational risks.
- Respect of local SGPBH procedures and relevant regulations
- Application of IMMUNE and FORCE rules
- Must seek management advice in case of doubt