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  • Head of HUB, Private Banking at First Bank of Nigeria Limited

  • Posted on: 17 April, 2019 Deadline: Not Specified
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  • First Bank of Nigeria Limited (FirstBank) is Nigeria's largest financial services institution by total assets and gross earnings. With more than 10 million customer accounts, FirstBank has over 750 branches providing a comprehensive range of retail and corporate financial services. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.

    Head of Hub, Private Banking

     


    Ref Id: 19000036

    Job: FBN GEN. Job Family
    Organization: DMD Directorate
    Schedule: Regular
    Shift: Standard
    Job Type: Full-time

    Job Objectives

    • Reporting directly to the Group Head (GH) Private Banking, the function is responsible for client interface and creating solutions for the acquisition, growth, preservation, and transfer of wealth for the client while also developing the business unit to increase profitability, market share, and clients satisfaction leveraging on a range of banking, lending, and wealth solutions.

    Duties & Responsibilities

    • Supervise activities of front office, middle office and back office staff to ensure timely and efficient service delivery to Private Banking clients.
    • Oversee and ensure the flow of client’s transactions and investments portfolio is in accordance with client’s mandate.
    • Promote the education of clients in the wealth management space, providing personal financial advisory services that enhance the investment decisions.
    • Review client profiles to ensure investments are in accordance with mandates, risk profiles and risk appetites.
    • Promote the sales and services culture through coaching, guidance and staff motivation.
    • Actively participate in the development of budgets and target as they relate the Private Banking business and ensure achievement of monthly and annual targets.
    • Authorize capital and current expenditure for the Hub as approved by the GH.
    • Ensure Hub operating cost is within approved budget
    • Ensure zero tolerance for inactive/dormant accounts
    • As part of the Bank’s Information Security requirements, maintain the security of all Information entrusted to the staff and comply with the principles and policies in the Information Security Handbook.

    Challenges:

    • Lack of required skills and competency
    • Inadequate training
    • Inadequate manpower
    • Lack of products for investment purposes
    • Dependence on IBAM to create investment outlets for clients

    Planning:

    • Macro: one year ; Micro: three month

    Expenditure Budget:

    • Key financial/statistical measures of your organizational unit
    • Number of staff in Unit/dept: 5
    • Staff costs:N/A
    • Costs that you control: direct cost relating to customer acquisition
    • Income that your Division generates (if any):
    • Fee Income: targeted as a percentage of balances earned 2.5% minimum
    • Net Interest Income: targeted as a spread between payment to client and that earned via pool rates
    • Other Income: as indicated in the budget and scorecards

    Key Performance Indicators:

    • Ability to maintain and win new accounts of high new worth clients.
    • Ability to market and sell the Private Banking products to target market.
    • Ability to generate revenue.
    • Adequately manage the credit portfolio of clients and creating profit for the bank.

    Job Requirements
    Education:

    • Minimum 2:2 undergraduate degree;
    • Preference for postgraduate business or related degree or other professional qualification (though not mandatory);
    • Training in Portfolio Management and Asset Allocation
    • Training in Customer Profiling and Risk Assessments.

    Experience:

    • Minimum 10 years working experience in banking or a related industry
    • Previous experience in Asset & Wealth Management or Investment Banking is an advantage

    Key Competency Requirements
    Knowledge:

    • Solid understanding of the Nigerian financial services sector and other non- bank financial services industries in which the Bank competes

    Skill/Competencies:

    • Portfolio Management
    • Financial Instruments Knowledge
    • Credit Assessment And Structuring
    • Marketing/ Sales
    • Business/ Product Development
    • Customer Relationship Management
    • Budget Planning & Control
    • Financial Analysis
    • Business/ Operational Strategy
    • Asset/Investment Management
    • Trust Administration.

    Location: Port Harcourt, Rivers  Application Link

    Location: Abuja   Application Link

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