CORE PURPOSE OF THE JOB
To lead and manage the wealth management division of the Bank nationally, ensuring the provision of high-quality financial advisory services through a team of regional financial advisors to meet the diverse financial needs of high-net-worth individuals, drive revenue growth, and maintain compliance with all regulatory requirements.
MAIN FUNCTIONS OF THE JOB INCLUDE:
Wealth Management Strategy and Execution
- Develops and implements wealth management strategies that align with the bank’s objectives.
- Ensures delivery of comprehensive financial planning services, including investment management, estate planning, tax efficiency, and risk management solutions.
- Monitors market trends and integrates innovative wealth management practices to enhance client service and portfolio performance.
Team Leadership and Management
- Leads, mentors, and supports a team of regional financial advisors across KZN, Gauteng, and Western Cape, fostering a high-performance culture.
- Establishes performance standards, monitors advisor performance, and provides feedback and coaching for professional growth.
- Promotes collaboration and consistency in service delivery across regions, ensuring alignment with national objectives.
Client Relationship Management
- Builds and maintains long-term relationships with high-net-worth clients, understanding their financial goals, and providing tailored advice.
- Oversees the management of client portfolios to ensure optimal investment performance and risk management.
- Ensures timely communication with clients on portfolio performance and changes in financial conditions.
Business Development and Revenue Growth
- Identifies and drives opportunities to grow the wealth management business through client acquisition, partnerships, and cross-selling of bank products.
- Implements initiatives to increase assets under management (AUM) and generate revenue through tailored wealth management solutions.
- Collaborates with other departments (retail banking, corporate banking, SME, etc.) to leverage synergies and enhance client value.
Risk and Compliance Management
- Ensures full compliance with regulatory frameworks and internal policies governing wealth management and financial advisory services.
- Monitors and mitigates risks associated with investment portfolios and financial products offered to clients.
- Engages with compliance, risk, and legal departments to stay updated on changes in regulations and ensure adherence.
- Ensures that clients receive annual reviews and that all clients onboarded for Unit Trust are compliant with FICA regulations.
Partnership Management
- Maintains relationships with the Bank's partners concerning the bank's Funds and all areas related to the fund.
- Handles all aspects of the partnership including management of costs and works with the Marketing team on Unit Trust marketing.
- Chairs the quarterly meetings with OM on the partnership and prepares the relevant reports.
- Works with the OM team to ensure correct reporting of all partnership activities.
QUALIFICATIONS
- Bachelor’s degree in finance, Economics, or a related field (essential).
- CFP (Certified Financial Planner) or equivalent qualification (preferred).
- Additional qualifications such as CFA (Chartered Financial Analyst) will be advantageous.
- Must be a registered advisor.
PREFERRED EXPERIENCE
- A minimum of 7-10 years of experience in wealth management, financial advisory services, or private banking, with at least 3 years in a management role.
- Proven track record of managing teams and delivering financial growth through high-net-worth client engagement.
KNOWLEDGE
- Comprehensive understanding of wealth management products, financial planning, investment strategies, tax laws, and estate planning.
- Strong knowledge of the South African financial services landscape, regulatory environment, and economic trends.
- Familiarity with the Islamic finance principles that govern the Bank’s products.
NOTE
- This position requires the candidate to travel.
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