Purpose of the role:
The Middle Office manager is responsible for providing support to one or more Senior Private Banker(s) / Directors and Investment team in developing, managing and retaining client relationships with high-net-worth individuals and related institutions, as part of a member of a team of private bankers who are focused on one or more target segments. The Middle Office manager is responsible for maintaining the operational capabilities of the existing accounts (i.e. static data). Actively assisting in developing the client’s relationships to their full business potential.
B. ROLE ACCOUNTABILITIES
- Placement subscription agreements on the client side while covering all details
- US transactions – cross-check all documentation
- Internal check on PSA, Financial modeling, due diligence, and checklist
- Creating and maintaining folders and supporting documents for all transactions
- Managing internal and external closings while filling gaps of missing information
- Coordinate with all internal and external stakeholders
- Assuring investments are generating income based on financial models
- Collate reports from operators and comparing with financial models. Raise “Red Flags” if there are discrepancies
- Sitting between the front office and back office while supporting both sides
- Maintain SVP accounts and board resolutions related to those accounts
- Maintain an ongoing awareness and consideration of AML “Red Flags” of suspicious activity to determine when it is appropriate to raise a suspicious activity report with the Money Laundering Reporting Officer.
- Coordinate between Investments, Legal and Operations teams to make sure proper workflow and documentation for all transactions
- Resolution of client inquiries and complaints, including escalation of more involved investigations.
- Daily monitoring and review of client accounts
- Manage Account Opening documentation and client due diligence review (KYC) process, ensuring deadlines are met.
- Prepare credit applications in respect of financing facilities for clients and submit to relevant functions for review and approval. Undertake the annual review of facilities
- Co-ordinate all client visits to ensure proper logistics and pertinent information are available, e.g. loan applications, documentation for signature, missing KYC, meeting room or driver booking, etc.
- Maintain corporate database to provide current and historical client information, including an accurate account of all client contact details.
- Deal with and process payments, deposits, and securities transactions accurately and within deadlines and follow up with any queries – liaising directly with internal departments to ensure a smooth and quick turnaround on transactions.
- Working with internal subject matter experts including Treasury & Investments, and Private Banking product specialists, to assess business, financial and economic risks and opportunities including new product launches and maximizing potential to cross-sell products and services to clients. Provide investment valuations and statements as required.
- Communication with external vendors such as real estate companies, wealth managers, and related parties to provide full support to the client.
- Contribute to continual improvement of IMS and comply with organizational policy and process requirements
C. KEY PERFORMANCE INDICATORS (KPI)
(To measure and monitor the performance of the role in the context of the Section/Department’s activities)
- Quality of Market research reports for products and services.
- Feedback from other LESHA BANK clients.
- Timely Payments, financial transactions, and other processes.
- Effective observance of applicable AML, KYC, Credit, Risk, and other relevant policies.
D. EXPERIENCE, QUALIFICATIONS & SKILLS
Minimum Experience & Essential Knowledge
- 8 years’ experience in Wealth Management within Client Service role (For Senior Manager)
Minimum Entry Qualifications
- Bachelor’s degree in economics or an MBA with preferably with CPA / CA.
Core Competencies: Technical (job-related) & non-technical:
- Solid knowledge of banking practices and associated regulatory requirements
- Strong verbal and written communication skills – willingness to interact with clients daily including by phone, email or face-to-face.
- Work under pressure and meet tight deadlines
1. Entrepreneurial Spirit
2. Business Acumen
3. Relationship Management
4. Ethical Practice
5. Organizational Effectiveness & Commitment
6. Critical Evaluation & Problem Solving
7. Communication, Transparency & Honesty
8. Customer Orientation