Overview
Group Head, Private Banking (Merchant Bank) Jobs in Lagos, Lagos State, Nigeria at HENRIKEN CONSULTING
Title: Group Head, Private Banking (Merchant Bank)
Company: HENRIKEN CONSULTING
Location: Lagos, Lagos State, Nigeria
Company Description
Henriken Consulting Client is a leading financial service partner that helps build enduring legacies for sustainable wealth creation in Africa. Having established a 30-year record of achievements in banking across Africa and beyond, our client founders established a Pan-African platform focused on building a better financial future for Africa. Today, our client businesses are entrusted with our over $1billion of clients’ assets and are recognized as Nigeria's fastest growing investment managers. Our client's purpose is to create a prosperous future for their clients.
Role Description
This is a full-time on-site role for a Group Head, Private Banking at our client office, located in Lagos. The Group Head will oversee the private banking unit, develop and maintain strong business relationships with high-net-worth individuals, lead a team of banking professionals, and manage financial portfolios. The role also involves devising strategic initiatives to drive customer engagement, ensuring seamless service delivery, and achieving financial goals.
Role Responsibilities Include
• Develop and lead implementation of the Private Banking business strategy.
• Develop and manage the Bank’s private client relationship management strategy to increase profitability. • Determine client experience strategies by providing timely information and advice to address their financial needs
• Guide team members on best practices to handle High Net Worth clients to ensure optimal level of service
• Oversee client acceptance, Know Your Customer (KYC) and onboarding procedures including handling client documents
• Drive strategies for cross-selling and up-selling of products and services
• Lead the development of customer-centric metrics and customer management.
• Improve business activities, processes, and results through quality customer management.
• Provide leadership, guidance, and support in developing frameworks for data collection, assessing, understanding, and integrating primary quantitative and qualitative customer data
• Provide key consumer behavior insights based on research outcomes
• Propose learning and develops initiatives to mitigate performance gaps and adapt to changes and developments in the business environment
• Evaluate and implement the right product, client, and channel mix that creates efficiencies and growth. • Prepare market outlook for various financial instruments for periodic client reviews.
• Analyze and provide insights into complex situations that require organization-wide support to solve.
• Drive organizational relationships with product specialists and other internal stakeholders to customize product solutions for clients
• Oversee the collation of market and industry business intelligence to support effective decision making
• Make investment recommendations on organization based on detailed company analysis covering corporate profile, products & services, cost drivers, financial ratios (including comparisons over time and comparisons with competitors
• Stay abreast of market trends, customer needs, and competitor initiatives and devise strategies to optimally utilize market opportunities
• Ensure team members are trained and in compliance with internal and external regulatory requirements
Qualifications
- Bachelor’s Degree in a relevant field and a relevant professional certification
• Minimum 10 years of working experience in banking or a related industry
• Previous experience in Asset & Wealth Management or Private Banking is an advantage
• Ability to work effectively in a team-oriented environment
• High analytical abilities and experience in solving complex and high-profile issues
• Sound knowledge of customer profiling and risk assessments
• An ability to ‘think outside the box’ and look for creative solutions
• Strong drive for continuous improvement.
• Ability to develop quality customer satisfaction and retention, through the provision of a full spectrum of financial services to customers and contributing substantially to the overall liquidity and profitability of the bank.
• Ability to deliver excellent relationship management as well as consistent and memorable customer experience.
• An inquiring mind to investigate client issues
• Sound communication skills – with ability to communicate both internally and externally
• Account Management
• Relationship Management
• Business Environment Analysis
Key Performance Indicators
• Banking Efficiency Ratio
• New (Deposit) Accounts opened over a period of time
• Deposit Processing Error Rate
• Wire Transfer Cycle Time (Incoming and Outgoing)
• Active Mobile Banking Users as Percentage of Total Enrolled Account Holders
• % downtime of Mobile Banking App
• Cost per Deposits & Cash Orders
• Customer Loan processing
• Deposit Account Attrition rate
• Gross margin on managed assets
• Ratio of active depositors to dormant depositors
• Total sum deposited in new deposit accounts
• Return on Investment
• Return on Asset
• Customer lifetime value
• Customer churn rate
• First Response Time
• Average Handle Time
• Client rating
• Quality of relationship with clients
• Timeliness and accuracy of financial and management reports and established follow up system