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- Tasks: Lead and grow the Wealth Management business while ensuring client satisfaction.
- Company: Join LondonFirstBank UK, a top-tier bank with over 10 million customers worldwide.
- Benefits: Enjoy hybrid work, generous pension contributions, private medical insurance, and more perks.
- Why this job: Be part of a prestigious bank that values client relationships and offers impactful financial services.
- Qualifications: Must have experience in Private Banking and a strong understanding of UK regulations.
- Other info: This role includes leadership responsibilities and opportunities for professional development.
The predicted salary is between 43200 - 72000 £ per year.
LondonFirstBank UK is a globally recognised, top-tier bank who provide world-class services to various institutions and individuals. Offering a comprehensive range of retail and corporate financial services/products, this thriving business with over 10 million active customers in over 700 business locations is the oldest African bank in the UK. Due to business requirements, we are now looking to acquire the services of an experienced Head of Wealth Management.
Please note that this is a hybrid role with 3 days in the office and 2 days working from home.
Key Responsibilities:- To drive attainment of key performance targets (Wealth management operations, revenue, new client additions, Product offering development enhancements, etc.), attract and retain high-value clients, and grow the Wealth Management business with a strong focus on client satisfaction metrics within our target market.
- Promote strong and effective working relationships and communications with staff, ensuring that they are motivated, developed and supported.
- Work with Head of Private Banking to develop the team’s Business strategy.
- Shape and support development of the business strategy, including periodic performance reviews for CEO.
- Achieve annual new business targets as agreed with Management.
- Ensure the growth and profitability of the Private Banking Wealth Management Portfolio through solicitations and referrals and the judicious selection of Client Portfolios.
- Develop Sales Leads generation from internal sources, FBN group, client referrals and personal network.
- On board clients for private banking products and services in accordance with UK and FBN procedures and regulations.
- Drive the accurate assessment of client risk profile, suitability, and appropriateness for Wealth Management Service.
- Proactively manage the clients’ investment portfolios by applying a range of portfolio management techniques.
- Promote the education of clients in the wealth management space and provide financial advisory services to enhance the quality of their investment decisions.
- Review client profiles to ensure investments are in accordance with mandates, risk profiles and risk appetites.
- Oversee and ensure the flow of clients’ transactions and investments portfolio is in accordance with client’s mandate and risk profile.
- Development of budgets and targets of private banking business and ensure achievement of monthly and annual targets.
- Provide supervisory function within WM and Advisory Business Unit, ensuring relevant regulations adhered to for competence sign off of potential Advisors.
- Liaise with the Bank’s external supervisor to ensure strict adherence to the T & C with regards to attaining competency.
- To develop dispassionate and objective relationships with third party fund managers and professionals e.g. law firms, property specialists and tax advisers.
- Supervise activities of middle office and back office to ensure timely and efficient service delivery to private banking.
- Very experienced as a Private Banker/ Investment Advisor.
- Current experience of Head of Wealth within Private Banking.
- Understanding of UK regulatory framework and experience in implementing same.
- Experienced manager of a team of advisors.
- Direct knowledge and experience of the African market.
- Exceptional networking skills and client relationship management skills.
- RDR Compliant - Level 6 (preferred).
- Able to demonstrate commercial instinct in building opportunities into revenue.
In return we offer a fantastic benefits package including:
- Up to 10% employer pension contribution.
- Life Assurance Cover.
- Income protection.
- Private Medical Insurance plan (upon successful completion of probation period).
- Contribution to glasses/contacts and eye testing.
- Gym subsidy (up to £50 per month).
- Cycle to work scheme.
- Employee Assistance Program.
- Interest Free season ticket loan for travel.
- Birthday Leave.
- 25 days annual leave, rising to 28 after 3 years and 30 after 8 years’ service.
- Give As You Earn (GAYE).
First Bank is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, gender reassignment, religion or belief, marital status, or pregnancy and maternity.
Head of Wealth Management (London Area) employer: Placed
Contact Detail:
Placed Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Wealth Management (London Area)
✨Tip Number 1
Network strategically within the financial services sector, especially focusing on wealth management. Attend industry events and connect with professionals who are already in similar roles or companies to gain insights and potential referrals.
✨Tip Number 2
Familiarise yourself with the latest trends and regulations in wealth management, particularly those relevant to the UK market. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in a rapidly evolving field.
✨Tip Number 3
Prepare to discuss your leadership style and how you've successfully managed teams in the past. Highlight specific examples where you've driven performance and client satisfaction, as these are key aspects of the role.
✨Tip Number 4
Showcase your understanding of the African market and how it relates to wealth management. Given the bank's background, demonstrating this knowledge can set you apart from other candidates and align you with their strategic goals.
We think you need these skills to ace Head of Wealth Management (London Area)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in wealth management and private banking. Focus on your achievements in driving performance targets, client retention, and team leadership.
Craft a Compelling Cover Letter: In your cover letter, express your passion for wealth management and how your skills align with the responsibilities outlined in the job description. Mention specific examples of how you've successfully managed client portfolios and developed business strategies.
Highlight Regulatory Knowledge: Given the importance of understanding the UK regulatory framework, ensure you mention any relevant qualifications or experiences that demonstrate your compliance knowledge and ability to implement regulations effectively.
Showcase Networking Skills: Emphasise your exceptional networking abilities and client relationship management skills. Provide examples of how you've built and maintained relationships with high-value clients and third-party professionals in your previous roles.
How to prepare for a job interview at Placed
✨Understand the Role Thoroughly
Before the interview, make sure you have a deep understanding of the Head of Wealth Management role. Familiarise yourself with the key responsibilities and expectations outlined in the job description, especially around client satisfaction metrics and performance targets.
✨Showcase Your Leadership Skills
As this position involves leading a team, be prepared to discuss your leadership style and experiences. Highlight specific examples where you've motivated and developed staff, and how you've fostered effective communication within your team.
✨Demonstrate Your Industry Knowledge
Be ready to discuss your understanding of the UK regulatory framework and your experience in private banking. This is crucial for the role, so prepare to share insights on how you've navigated regulations in past positions.
✨Prepare for Client Relationship Scenarios
Given the emphasis on attracting and retaining high-value clients, think of scenarios where you've successfully managed client relationships. Be ready to explain your approach to building trust and delivering exceptional service to clients.
