WM Head, Nigeria and West Africa at Standard Chartered Bank

Ref No: 2100023140
Job: Private Banking and Wealth
Employee Status: Permanent

Job Purpose

• Responsible for strategy, growth and performance of Wealth Products for all client segments in Nigeria and across the sub-region and also Deposits, Debit Cards and Mortgages for Nigeria.
• Lead growth opportunities and target affluent clients in the country and sub region
• Acquire new clients, lead product propositions and achieve defined sales targets
• Collaborate with client segments and retail distribution to ensure differentiated client experience, including sales discipline and service standards
• Responsible for integration of products across all client segments encompassing
• Customizing product strategies to support client segment propositions- Consumer, Private and Business Banking.
• Identify white space opportunities and ensure active support from the client segment heads to develop and implement them
• Implement processes systems and people to ensure delivery of the best in class products and services
• Ensure proper policies and process control and full compliance with internal policies and external regulations

Responsibilities
Strategy:

• Lead and communicate Group Wealth Products (Managed Investments, Bancassurance, CMPS and Investment Advisory) strategy, priorities and objectives in a local context to staff in Nigeria and the West Africa sub-region.
• Provide guidance to the Deposit, Debit Cards and Mortgage teams in Nigeria for the execution of strategy and initiatives in Nigeria and to achieve sustainable growth in client base, revenue, balance sheet and product margins as per budget.
• Develop and manage a consolidated country and regional Wealth strategy ensuring alignment with Group Wealth Products and Country Customer Segments. This involves leading and participating in the country and regional business strategy development process, collaborating with the customer segment heads, raising issues and working to reach agreement, ensuring alignment of support functions, then executing its implementation.
• Manage and develop effective policies, process and system agenda to support operational resiliency and the delivery of the consolidated Wealth country and regional strategy, with the country and regional short, medium and longer term aspirations and plans.
• Embed a client obsessed culture to the country and regional team through WM product process simplification and ensuring an effective, diligent and quick resolution complaint management.
• Work with country and regional operations and segment to enhance client experience by utilising client events as a platform to receive client feedback.
• Provide guidance to the Deposit, Debit Cards and Mortgage teams in Nigeria for the execution of strategy and initiatives in Nigeria and to achieve sustainable growth in client base, revenue, balance sheet and product margins as per budget.

Business:

• Customise and champion, in conjunction with the Regional Wealth Head and the Country Customers Segment Heads, the strategic direction of the business in country; develop an organization and management team capable of delivering distinctive performance.
• Manage the overall contribution of product portfolio for Wealth Products. Establish and set key performance drivers.
• Lead product innovation and development initiatives, in conjunction with Group Product heads, to meet/anticipate needs of customer segments
• Optimize existing product portfolio & bundled offerings through sustained activation & utilization activities
• Develop and launch cross-product bundling propositions for deepening customer relationship and brand loyalty
• Collaborate with the Marketing team to drive product branding and ensure alignment with segments’ brand positioning and strategies
• Identify new channels or opportunities for product distribution
• Actively track branch automation for FX and S2BX utilisation that will allow WMPS resources to focus on strategy execution and effective engagements with the segments
• Work collaboratively with other business functions to enhance business opportunities through cross-sell and to resolve cross-functional operations and service fulfilment
• Enable the frontline sales staff with the necessary product knowledge, customer engagement skills through provision of collaterals, tools, training support and scripts
• Maximise the investment and use of existing and new channels across various products

People and Talent:

• Champion and act as a role model of the Group’s values and culture in the country and across the region
• Build a client focused country and regional top team capable of ensuring delivery of the business’ short and longer-term objectives through:
• Coaching, guidance and management of team to ensure they deliver against the ambitious financial, non-financial and risk/control objectives
• Identifying and addressing the top issues/opportunities for performance improvement across the team (both direct and indirect reports)
• Driving an environment of collaboration, both within the team and across the wider Group, to ensure issues are raised and blockages are resolved in a timely manner
• Developing succession plans that identify gaps in bench-strength; subsequently implementing action plans to ensure ready-now talent is available

Risk Management:

• Seek to understand the risk and control environment in country and drive rectification as required
• Ensure adequate and appropriate systems and controls are in compliance with Group policies, procedures, standards and codes, including those governing all Risk types, Compliance, Technology and Operations and Finance to ensure:
  • That team members are capable of performing successfully in their roles
  • There is clear oversight / supervision / decision making e.g. committees
• Ensure effective implementation of Risk Management framework throughout the organisation
• Risk appetite is clear and integral to the strategy with appropriate controls
• Effective processes in place to identify, manage, monitor and report risk
• Drive the systems and procedures to safeguard the security, integrity and confidentiality of information
• Supervise CMPS staff who are governed by the FM code of conduct and ensure adherence to the same

Governance:

• Provide oversight in the country, ensuring compliance with the highest standards of regulatory conduct and compliance practices as defined by internal and external requirements. This includes compliance with local banking laws, other applicable laws (e.g. laws governing securities activities, company law) and anti-money laundering regulations and guidelines.
• Embed the Group’s values and code of conduct in the region to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture
• Engage with all audit report findings in country and ensure feedback is acted upon
• Ensure an effective audit socialisation forum that will help the Country COO/P&P team to proactively identify risk themes and perform gap analysis for the country. Work towards effective mitigation action plan and track the same.
• Encourage WM BORM to regularly visit and observe dealing room staff and have structured engagement with the WMPS desk, FM BORMs and Compliance.
• Ensure regular CMPS participation to the Markets BORF
• Ensure all products in coverage of role and scope are distributed in countries have appropriate internal and external approvals in place.

Regulatory & Business conduct:

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead Nigeria and West Africa Wealth Management team to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.]
• Provide supervisory oversight to the Head of CMPS to ensure that the CMPS team complies with the highest standards of regulatory and business conduct and practices as defined by internal and external requirements and adherence to the FM CoC.
• Hold regular engagements with the Head of FM/Dealing room manager.
• Ensure timely attestation to the FM Supervisory Responsibilities based on supporting evidence - e.g Auditable CMPS KRI and exception reports, non-elevated RRR for the monthly RRA, etc.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders:

• Cluster Head, CPBB Nigeria and West Africa: Leadership and P&L Reporting.
• Regional Head of Wealth Management: Regional Product leadership.
• Country CEOs: For overall business accountability as it relates to Nigeria and West Africa.
• Country CPBB Heads for West Africa: For Distribution and Sales
• Regional WM COO: For processes and Operational risk management and control
• Heads of Legal and Compliance: Policy and regulatory compliance and approvals
• Regulators: Compliance and regulatory oversight
• Country Heads of FM.

Qualifications

• Relevant academic qualification together with appropriate regulatory licenses required to operate in role in the country.
• Strategic acumen coupled with ability to operationalise and drive execution
• Strong leadership qualities, excellent interpersonal skills and multicultural awareness and sensitivity
• Ability to network and operate effectively within a matrix organization and often influence, without authority
• Deep knowledge and understanding of investment products and services in strategic Asset Allocation, Asset and Liability management, risk management and complex international financial needs
• Sound understanding of all business guidelines and compliance requirements and issues
• Strong people management skills
• In-depth understanding of key business driver in dedicated geographical market(s) with sound understanding of legal, political and economic situation/framework
• Deep understanding of cultural ethnic and religious market conditions
• Outstanding communication and presentation skills