Job PurposeThe purpose of the role is to develop and execute Wealth Management strategy and business plans, manage and drive a team of product Managers and Portfolio analysts to achieve WM business objectives by controlling the product related activities. The Wealth Management product head would also be responsible for the overall portfolio management at the retail level. The role will ensure smooth and faster execution of business decision removing road blocks and will help in managing existing and new WM products and facilitate sales in the Sultanate of Oman.Create and formulate strategic direction of the wealth management business Have a holistic view towards growth of the WM business. The role will be comprehensive leadership and value addition to WM business.Partner with internal stakeholders to develop and execute sales strategies across products and client segments – including content, messaging, guidance, competitive landscape, and product differentiationProvide ongoing key real-time product, investment and market updates to the Wealth Advisors and other key stakeholdersImprove Wealth Management products coverage across retail, high-value client segments – Private Banking and Premier Banking – and Muzn.Analyzing the existing product range and compare with competitive offering in the market and establish the optimal product positioning strategy [ies].While driving performance and profitability of the WM product line, the role also entails complete oversight and responsibility for Sales Assurance to prevent any reputational risk to the bank due to mis-sell and misrepresentation of WM products. Key ResponsibilitiesAssess market conditions, plan, organize, direct and control product related activities and resource in order to meet objectives of the WM and the Retail Bank.Have appropriate product program in place for all Wealth Management products and ensure that these programs are being reviewed, modified and renewed on a regular basis and on time.Launching and implementation of new products as per the Retail and Bank’s business strategy across Segments including Private Banking.Constantly endeavor to create initiatives for successful WM sales and drive Product Managers so as to achieve individual product plans.Review and Update sales and operational processes with the objectives of superior client experienceImplement marketing strategies and optimize costs and also ensure robust controls are in place.Facilitate framework for portfolio counselling and provide thought leadership to WM sales with talk offs / trainings/ advisory/ ideasIdentify training needs and implement training programs and drive completion of certifications and follow up in order to improve staff competencies Administer variable compensation plan for WM sales and acquisition towards sustaining competitive edge and results.Effectively manage the relationships with external entities like regulators, product providers, etc. and also with internal stakeholders like operations, compliance, legal, Finance and Credit riskPlan and cater to strategic objectives across all segments including Private Banking and drive product managers for innovation and new ways to cater to client needs and continuously enhance value proposition for all segmentsEnsure that audit, compliance and controls for the WM business are in place and are managed effectively.Ensure that all reports and MIS are provided on time and all guidelines are also adhered toOverall ensure that the sales tool administration is managed well and the team addresses all the issues on time for smooth businessEffectively liaise and contribute and lead governance requirements for Wealth Management – MRC, BRCC, Fiduciary committee, Complaints committee and any other committee as requiredAttract and develop talent in a culture of high performance and strive to retain existing talent.Achieve best in class customer service and be the preeminent Bank for Affluent, Emerging Affluent and Global / Private Banking ClientsContribute towards being the premier digital banking provider in Oman and work towards digitizationPromote and create an environment of healthy competition, transparency and have a well – documented appraisal process promoting meritocracy and performance within the team.Provide learning opportunities to the team through role expansionEnsure that the RMs and sales teams are provided proper coaching in order to ensure clients’ portfolios are in line with the investment strategy of the business.Ensure that Product Managers and Wealth Advisors leverage the in-house research and resource to promote investment themes, model portfolios reviews, provide new product ideas and ensure that the Trusted Advisory Model is in place and is effective.Ensure research communication is consistently implemented and create awareness and understanding in the business
اشترك مجاناً واختر تخصصاتك، وسنرسل لك الوظائف المناسبة مباشرة على واتساب
اشترك عبر واتساب مجاناً