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The PrivateBanker Function GroupManagermanages a team of senior professionals. The job requires a broad and comprehensive understanding of the different systems, theories and practices relevant to a function as well as practical experience of multiple business cycles. In-depth knowledge of the industry and direct competitors' products/services is also necessary in order to contribute to the commercial objectives of the business. Requires thorough understanding of strategic direction of the function within the business, combined with a solid conceptual/practical grounding in both the function and/ or area of expertise. Excellent communication skills required in order to influence a wide range of audiences. The job is likely to be involved in both internal and external negotiations which will have a major impact on the area managed, and possibly on other related areas and organization as a whole. Develops medium- to long-term plans and executes functional strategies for the market under management, requiring coordination and integration across units.
Job Responsibility:
Grow the existing client business, along with an acquisition strategy for UHNW target names
Accountable for driving revenue and responsible for their entire team’s revenue goals
Works closely with the Global Market Manager (GMM) to lead the activities for the team
Coach and guide team members and help them develop and share sales ideas
Co-ordinate client calling and prospecting amongst team members and sharing best practice
Work with the GMM to achieve overall team revenues and growth objectives
Take the lead in developing and implementing marketing and client events for the team
Help team members in executing their account plans by providing guidance and support on specific deals and clients
Provide ongoing feedback to team members on their performance as well as the formal mid-year & year-end reviews
Demonstrate an in-depth understanding of clients’ businesses and sources of wealth generation
Anticipate events in a client’s life and business, which have significant financial implications
Bring together the appropriate product experts to develop long-term solutions that strengthen client relationships with the firm
Help clients achieve broad financial & investment goals related to the creation, management, and transfer of wealth
Develop tailored solutions that address clients' unique investment, risk management, and financing/ liquidity needs
Regularly monitor progress against goals and make adjustments to achieve objectives
Plan and prioritize daily, weekly and monthly activities to maximize revenue growth and client satisfaction
Transfer or eliminate non-productive accounts in order to focus on clients who fit within the business strategy
Establish a referral network and gain introductions to potential clients which generate new sales
Close the deal, making concessions that are appropriate and in line with the fundamental interests of the Private Bank
Help team members acquire the experience to establish credibility with clients and intermediaries
Demonstrate strong commitment to team success and place team goals above personal achievement
Work collaboratively with the GMM and other Team Leaders to lead the business
Encourage team members to work collaboratively and with the entire business to deepen client relationships and exceed sales goals
Align complementary experiences and skill sets of team members to maximize client effectiveness
Build and maintain relationships with Business Partners, Colleagues and Staff
Develop strong relationships and partners with support functions across the Citi Private Bank to maintain control, find solutions and resolve issues
Follow standard procedures and advocate appropriate exceptions to standard practices when the bigger picture needs to be considered, and seek or grant approvals as appropriate
Ensure compliance on regulatory requirements and minimizes any potential liability for Citi
Ensure strong controls and effective operational and administrative services
Sets an example of behaviour to all employees
Partner with colleagues across the Citigroup network to leverage capabilities and share expertise
Ensure clients are presented with seamless execution of internal processes and Citi services
Prioritize issues that need to be escalated, getting the appropriate people involved to expedite resolution
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards
Requirements:
15+ years of experience
Extensive and proven experience in Private Banking having covered the UHNW market
Extensive experience in working with and/or leading client teams and transactions
Demonstrated track record in relationship selling
Bachelor's/University degree
Master's degree preferred
What we offer:
Discretionary and formulaic incentive and retention awards
Medical, dental & vision coverage
401(k)
Life, accident, and disability insurance
Wellness programs
Paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays