Description of the Business Line or Department
Our commercial strategy focuses on three main areas:
Ensure growth through our key client segments: KCS (Key Client Segment), Core Segment, International and Piccadilly teams;
Tighten our global sales management, notably by combining our indicators by entity and by private banker (AuM, NNMA, NBI, Credit, GOI, ROA);
Anchor our risk culture, conduct, Customer Excellence and the Group values described in the Leadership Model in our sales force on a daily basis
Summary of the key purposes of the role
Successful management and development of the Bank’s activities in a defined market segment. The Team Head is responsible for both their individual and team’s commercial and performance targets. They are expected, through mentoring and coaching, to enhance the skills and quality of the work of their team whilst embedding compliance and risk awareness.
Monitor Key Performance Indicators (including: revenue targets, assets under management, pitch/proposals and service development from client feedback) using a combination of management information, specific client reviews, regular review meetings (including daily huddles) at a team and individual level. Action plans will need to be established and agreed for the team and with each individual member, such as improving product sales/penetration, maximising revenue by respecting the Group tariff, managing low profitability clients, control of tariff discounting, and developing clients with potential.
Act as a liaison to other functions, particularly Investment Management, Advisory, Wealth Planning, Credit, Market Solutions, Middle Office, Compliance and Risk ensuring that the product offer and support provided allows the Private Bankers to meet the client’s objectives and to treat them fairly.
Direct management and development of team members will be a requirement, therefore, requires technical proficiency and management skills. This is in order to effectively supervise and monitor the work of the team while motivating team members to meet objectives and to support their career progression through active coaching, mentoring and appropriate training.
Embrace and utilise the Customer Excellence tools to achieve dedicated client time, service quality and enhanced team motivation.
Summary of responsibilities
Define, develop and implement the commercial plan and the strategy of the Bank’s activities meeting agreed Key Performance Indicators and targets.
Target number of client relationships 200-300 per CRM on the team. Minimum client AUM/LUM £250K for legacy clients, with minimum revenue of £2.5K. Minimum client AUM/LUM for new clients £500,000, with minimum revenue £5K.
Ensure the private bankers on the team are proactively managing clients to achieve their individual targets including their commercial objectives and defending their book.
Manage the client book of the team and own book to continuously seek out and pursue new opportunities (private client prospect co-ordination, client on boarding, action planning and client retention).
Conduct regular reviews with private banking team to establish areas for improvement and recommend strategies to meet both client and Bank objectives.
Ensure 100% completion rate of KYC memos for own clients and team as a whole. Conduct sample reviews to assess quality.
Work closely with the business development team to maximise client opportunities through analysis of management information.
Able to articulate difficult messages and decisions through effective communication and verbal reasoning.
Team leadership & performance management
Motivate and lead for success, establishing priorities for the team’s activities.
Manage time effectively achieving balance between dedicated client focus (estimated at 20-25%) and leading/managing team.
Ensure that a balanced team is maintained through the recruitment process and the development of individual team members. Liaise with other Team leaders to identify skills and inputs required via team leader events/forums.
Embed customer excellence in the team ensuring adherence to the golden standards, achieving KPIs and conducting daily huddles.
Undertake timely and accurate sales reporting to provide weekly visibility of pipeline (RADAR) ensuring self and team accurately record data relating to commercial activities.
Regularly monitor and review team’s pipeline to ensure follow up actions have been undertaken.
Create and monitor a skills development action plan for the team and its members in conjunction with HR (monitoring, sharing experiences, coaching, mentoring).
Ensure appropriate team resources and competence is in place. Hire and develop the right talent to further expand the team’s ability to pro-actively service Clients.
As defined in the KH Hambros Training and Competence Scheme, act as observer at Client meetings to ensure technical and regulatory competence achieved.
Complete the evaluation process for all team members ensuring progression plans are well documented with SMART objectives. Monitor, on a periodic basis, through regular performance discussions and feedback.
Build trust, inspire and engage key stakeholders through effective communication.
Duties with a business assurance focus including; complaint handling, FCRM (AML duties), call monitoring, account closures, suitability and credit reviews.
Operate in a constructive manner with others (within the team, with the management, with other commercial teams, within SG)
Work with other across the business in streamlining the processes and procedures that relate to Piccadilly client segment.
Develop and maintain collaborative relationships with commercial functions, particularly Investment Management, Advisory, Wealth Planning, Credit and Market Solutions ensuring that the product offer and support provided allows self and team to meet client’s objectives.
Provide support functions with ideas and feedback to improve efficiencies and client service standards.
Drives and coordinates action with all support functions, notably risk & compliance
Maintain an appropriate balance between global standards and local rules and practices.
To set an example and demonstrate leadership in respect of risk awareness, conduct, behavioural and compliance culture matters; ensure the embedding of a positive culture of compliance within the team, with internal stakeholders, as well as to clients and markets. To lead to the right outcomes in all material respects.
Ensure team members apply all regulatory standards including Treating Customer Fairly, Know your Client and Suitability.
Maintain the highest standards of risk and compliance, ensuring all policies are observed across the team.
Champion the Bank’s risk culture applying the rules to daily tasks whilst ensuring the team adopts the same approach.
Undertake live observations as part of the T&C requirements and ensure SPS/CPD rules are adhered to for self and team.
Ensure team members complete all internal mandatory regulatory training
Continuous Improvement & Change Management:
Resolve problems independently, escalating only when necessary.
Identify and promote the generation of ideas to improve processes and client satisfaction. Supervise the implementation of these improvements
Actively drive change, defining the concrete steps to implementation.
Communicates positively about the reasons for change and ensure others understand what the changes mean for their everyday work
‘A’ signatory – money transmission and securities transactions.
The role holder commits to fully respecting SG Policies and Procedures defined locally, at PRIV and at Group Level, in order to control operational risks.
Respect of local SG procedure and regulation.
Application of SG Code of Conduct.
Application of IMMUNE and FORCE rules.
Application of Customer Excellence tools.
Maintain awareness of operational risks exposure in their daily activities and seek advice from their Management and local Operational Risk Manager to prevent issues.
Implementation of the strategy delegated from the SMF for Private Banking
Project work where relevant
Implementation of regulatory changes
Development of business line (revenue growth, client base development)
Operational Risk & Regulatory Responsibilities
Responsibility for managing, controlling, preparing and escalating risk within their scope.
Monitoring of operational risks and review of effectiveness of prevention measures.
Ensure compliance with policies, procedures within the business line.
Ensure timely intervention when breaches occur and analysis of root causes to avoid repeated issues.
Ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory bodies that are applicable to your business.
Improving Conduct Risk framework and ensuring that actions deriving from conduct risk management information are taken forward
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.
Organisation and governance
Attend management meetings
Detail of participation into the sub line governance including committees and roles.
Link with Global organisation/governance
Systems and controls
Responsibility for means and resources required to perform your role
Details of responsibilities for follow up of Audit, Inspection points.
Human Resource Management
Handling of sensitive issues
Responsible for liaising with HR in relation to compensation, promotions and staff consultation during right-sizing of the organisation
Ensuring all teams are appropriately managed and adequately supervised and controlled.
Contribution to proposals on the distribution of the bonus and salary pool.
Managing business line staff (recruitment training, career management, compensation) in coordination with regional partners.
Development of staff (i.e. having a growth plan, filling in products gaps, upgrading as necessary)
Ensuring job descriptions exist, individual appraisals are carried out and objectives are in place
Ensuring appropriate resources are adequately utilised
Cooperation with other departments
Details of relations with support & control functions, through which forums for what purpose.
Embody Code of Conduct and behavioural competency
Day to day management of Private Client relationship management and financial advice within the defined business proposition
Level of autonomy and authority
Job holder can authorise and make private client financial decisions within the business proposition
Team performance management strategies and day to day management in line with HR advice and guidance