Wealth Management Specialist

7 days ago

Pretoria, Gauteng, South Africa Absa Group Limited Full time

Job Summary

This role involves building and maintaining professional business relationships across a portfolio of private wealth clients, achieving financial targets, acquiring new clients, and improving customer experience within the bank's regulatory and compliance frameworks.

Key Responsibilities

  • Accountability: To build customer relationships in preferred market segments, own primary relationships with clients, and work collaboratively with specialists to ensure clients experience the full spectrum of our value proposition.
  • To achieve required contact strategies based on client segmentation and execute client relationship plans to understand clients' needs and hold primary relationships.
  • Secure new business through interaction and engagement with current and prospective clients, lead generation, and onboarding new clients.
  • Ensure client retention within acceptable targets and apply remedial actions where necessary.
  • Consistently achieve customer satisfaction scores as per agreed thresholds by servicing clients appropriately in line with our value proposition.
  • Work seamlessly with sales support teams to enable them to support you in your portfolio.
  • Deepen Relationships: Deepen relationships with customers through meeting their individual needs and achieving 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.
  • Negotiate pricing structures with clients, ensuring portfolio profitability is managed optimally, in line with Absa Pricing policy.
  • Cross-sell and upsell appropriate products to clients while meeting requirements under FAIS, FICA, and NCA regulations.
  • Drive income growth of the portfolio through the acquisition of new clients.
  • Analyze sales achieved against opportunities in portfolios on a monthly basis for new and existing clients.
  • Complete a monthly analysis of the portfolio's profitability, including credit quality, and make recommendations to the Area Manager Coverage if actions are required.
  • Risk Management: Protect assets through risk and credit assessment, co-manage high-risk clients' accounts, communicate client requirements, and assist in developing high-quality credit client solutions.
  • Coordinate and drive outstanding client reviews and ensure timeous finalization.
  • Ensure arrangements with clients are within credit guidelines, inform credit of special arrangements via prescribed systems, and take ownership of portfolios' risk management.
  • Colleague and Personal Development: Act as backup for other Private Wealth Bankers in case of absence or during peak times according to the agreed schedule provided by management.
  • Keep abreast of industry developments to ensure adequate client service and support potential risks and opportunities.
  • Maintain Continuous Professional Development (CPD) hours at all times, complete relevant Compliance, Risk, and System learning as per Private Wealth Minimum learning requirements, and attend relevant economic environmental business forums to raise client conversations to a strategic level.
  • Demonstrate willingness and ability to perform at the highest levels to ensure personal alignment to Absa's Values and Vision.

Preferred Qualifications

  • Bachelor's degree in Business, Commerce, or Management Studies, or equivalent NQF Level 7 qualification.
  • Five years' relevant Private or Wealth or Premium or Private Wealth Virtual Banking experience.
  • FAIS Compliance.

Required Skills and Knowledge

  • 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.
  • Data analysis to enable data-led decision making.

Estimated Salary: R1,200,000 - R1,500,000 per annum, depending on experience and qualifications.

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