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- Tasks: Build and maintain relationships with Private Wealth clients while achieving financial targets.
- Company: Join Absa, a leading African financial services group with over 100 years of history.
- Benefits: Enjoy a full-time role with opportunities for professional development and a diverse work environment.
- Why this job: Be part of an exciting growth journey and make a real impact in clients' financial lives.
- Qualifications: B-degree or equivalent qualification with relevant banking experience required.
- Other info: Absa values diversity and is committed to equal opportunity employment.
The predicted salary is between 36000 - 60000 ÂŁ per year.
Private Wealth Banker – Coverage (FAIS)
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Locations: Worcester
Time Type: Full time
Posted on: Posted 30+ Days Ago
Time left to apply: End Date: December 31, 2025 (30+ days left to apply)
Job Requisition ID: R-15970188
Empowering Africa’s tomorrow, together…one story at a time.
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
To build and maintain professional business relationships across a portfolio of Private Wealth clients, by achieving financial targets, proactively acquiring new clients, and improving customer experience within the scope of the Bank’s regulatory and compliance frameworks.
Job Description
Accountability: To build customer relationships in the preferred market segments:
- To own the primary relationship with our clients by being the client’s main contact point and to work collaboratively with specialists (i.e., financial and estate planners) to ensure that our clients experience the full spectrum of our value proposition.
- To ensure that you achieve the required contact strategy relevant to your portfolio based on client segmentation of your bespoke portfolio.
- To build, maintain and execute on client relationship plans to ensure you fully understand your clients’ needs and that we hold the primary relationship with our clients.
- To secure new business through interaction and engagement with current and prospective clients and leads generation and ensure new clients are fully onboarded.
- Ensure retention of clients within acceptable targets and apply remedial actions where appropriate.
- Consistently achieve customer satisfaction scores as per agreed threshold by ensuring that customers are appropriately serviced in line with our value proposition.
- To work seamlessly with the sales support team in ensuring that they are enabled to support you in your portfolio.
Accountability: Deepen relationships with our customers through meeting their individual needs and achieving the required income from each portfolio.
- Prepare weekly for performance discussions with Area Manager Coverage to review client contact plans, client relationship plans, opportunities, successes and support required.
- To review and negotiate pricing structures with clients, in line with the Absa Pricing policy to ensure that the portfolio profitability is managed optimally.
- To effectively cross and up-sell the appropriate products to the clients ensuring that all requirements in terms of FAIS (Financial Advisory and Intermediary Services Act), FICA (Financial Intelligence Centre Act) and NCA (National Credit Act) are met.
- Drive income growth of the portfolio through the acquisition of new clients.
- Analyse sales achieved against opportunities in portfolios on a monthly basis for new and existing clients.
- Complete a monthly analysis of the profitability of the portfolio of clients including the quality of credit and make recommendations to the Area Manager Coverage if actions are required for identified clients.
Accountability: Protecting our assets through appropriate levels of Risk and Credit Assessment
- Co-manage high-risk clients’ accounts in collaboration with Risk stakeholders.
- Ensure transparency and open dialogue between credit and the client by communicating the client’s requirements, by means of properly motivated and well-articulated motivations with the required supporting documents and giving feedback on the bank’s position regarding these requirements.
- Assist with the development of high-quality credit client solutions which are both practical and appropriate (i.e., lending structures) for clients by influencing credit with knowledge on the client’s requirements as well as business and industry-related knowledge.
- Coordinate and drive outstanding client reviews and ensure timeous finalization.
- Ensure that arrangements with clients are within the credit guidelines and that credit is informed of any special arrangements via utilization of the prescribed systems.
- Takes ownership of the portfolio\’s risk management through consistent application of the bank’s regulatory and compliance framework.
Accountability: Colleague and Personal Development
- To act as backup for other Private Wealth Bankers in the team in case of absence or during peak times according to the agreed schedule as provided by management.
- Keep abreast of developments in the industry/sector to ensure adequate client service and to support potential risks and or opportunities.
- Ensure that Continuous Professional Development (CPD) hours are maintained at all times.
- Complete the relevant Compliance, Risk and System, Product and role fundamental learning as per the Private Wealth Minimum learning requirements.
- Attend relevant economic environmental business forums to be able to raise client conversations to a strategic level.
- Subscribe to relevant segment-specific initiatives and apply this knowledge to act on opportunities to maximize revenue and profitability.
- Demonstrate the willingness and ability to perform to the very best levels to ensure personal alignment to Absa’s Values and Vision.
Preferred Education & Experience
- B-degree in Business, Commerce or Management Studies or equivalent NQF Level 7 qualification.
- Five (5) years’ relevant Private or Wealth or Premium or Private Wealth Virtual Banking experience.
- FAIS Compliance.
OR
- National Diploma / Advanced Certificate in Business, Commerce or Management Studies, or equivalent NQF Level 7 qualification.
- 8 years’ experience in Private or Wealth or Premium or Private Wealth Virtual Banking, of which 4 years must be experience with Non-Individuals (Professional Practice) within Private or Business Banking.
Knowledge and Skills
- Sales Acquisition and Business Development
- Customer Relationship Management
- Financial and wealth solutions and planning knowledge, including deal structuring
- Relationship Banking Risk management, including credit knowledge around complex structures as well as solutions
- Financial products knowledge with Superior Communication Skills
Education
Bachelor\’s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised.
About Us
Absa Group Limited (“Absa Group”) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.
Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.
Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has representative offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.
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Private Wealth Banker - Coverage (FAIS) employer: Absa Bank
Contact Detail:
Absa Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Private Wealth Banker - Coverage (FAIS)
✨Tip Number 1
Network actively within the financial services industry, especially with professionals who have experience in private wealth banking. Attend industry events and forums to connect with potential clients and colleagues, as personal relationships are key in this role.
✨Tip Number 2
Stay updated on the latest trends and regulations in wealth management and financial advisory services. This knowledge will not only enhance your conversations with clients but also demonstrate your commitment to providing informed advice.
✨Tip Number 3
Develop a strong understanding of the bank's products and services. Being able to effectively cross-sell and up-sell these offerings will be crucial in meeting your financial targets and enhancing client satisfaction.
✨Tip Number 4
Prepare for interviews by practising how to articulate your approach to building and maintaining client relationships. Use specific examples from your past experiences to showcase your skills in customer relationship management and sales acquisition.
We think you need these skills to ace Private Wealth Banker - Coverage (FAIS)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in Private Wealth Banking. Focus on your achievements in client relationship management, sales acquisition, and financial solutions to align with the job requirements.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for wealth banking and your understanding of the industry. Mention specific experiences that demonstrate your ability to build and maintain client relationships, as well as your knowledge of compliance frameworks.
Highlight Relevant Skills: In your application, emphasise skills such as risk management, financial planning, and superior communication. Use examples from your past roles to illustrate how you've successfully applied these skills in real-world scenarios.
Showcase Continuous Learning: Mention any ongoing professional development or relevant certifications you have completed. This demonstrates your commitment to staying updated in the financial services sector and aligns with the company's emphasis on colleague development.
How to prepare for a job interview at Absa Bank
✨Understand the Role
Make sure you have a clear understanding of what a Private Wealth Banker does. Familiarise yourself with the responsibilities outlined in the job description, such as building client relationships and achieving financial targets. This will help you tailor your answers to demonstrate how your experience aligns with their needs.
✨Showcase Your Relationship Management Skills
Since the role involves maintaining professional business relationships, be prepared to discuss your past experiences in managing client relationships. Use specific examples to illustrate how you've successfully built rapport and trust with clients, and how this has led to business growth.
✨Prepare for Compliance Questions
Given the importance of regulatory frameworks like FAIS and FICA in this role, brush up on these regulations. Be ready to discuss how you ensure compliance in your work and how you would handle situations involving risk management and credit assessment.
✨Demonstrate Your Sales Acumen
The position requires driving income growth through client acquisition and upselling. Prepare to share your strategies for identifying new business opportunities and how you've successfully converted leads into clients in your previous roles.
