Private Banker

­­­­­­­­­­­­­­­­­­Overall purpose of role

Private Banking and Wealth Management offers bespoke banking and investment solutions to high-net-worth individuals across the globe. This role is focused on clients in the East of England (Norwich, Ipswich or Cambridge regions ). It provides a comprehensive range of investment advice across all asset classes, wealth structuring advice and banking services.

Key Accountabilities

• New business origination. Identify, develop and secure new private banking relationships through personal and client referrals, Barclays Group internal networks and corporate and investment banking sources
• Working as directed to achieve personal objectives and assist in achieving team targets for:

• new clients
• assets
• revenues

• Maintain the highest levels of client service and delivery.
• Act as key contact for banking products, credit advice and client queries.
• Deliver high quality bespoke advice, maximising value for our clients and negotiating the best commercial outcome.
• Act as the key interface between the client and other parts of the Barclays group, including:

• Wealth Advisory
• Discretionary Portfolio Management
• Investment Advisory
• Global, Investment & Solutions

• Provide the client with world class financial solutions.
• Be able and willing to discuss markets, their issues and opportunities with clients.
• Fully utilise the banker toolset, systems and platforms, and challenge current standards to continuously improve quality.
• Engage with digital technologies, products and solutions that are relevant to the Private Banking and Wealth Management business and have the ability to use them to enhance the service provided to clients.

Stakeholder Management and Leadership

Private Bankers are expected to build and maintain effective allocated introductory relationships with key internal and external stakeholders in order to ensure effective opportunity streams for new clients, assets and revenues.  In order to achieve this they must be able to take the initiative to effectively partner and collaborate across the organisation, and externally, to drive performance.  The Private Banker may be expected to work within a banker cell or on their own, so they must be a strong team player and a self-starter. 

The Private Banker does not have any direct leadership accountability but is expected to be able to exert influence on colleagues and contacts (introducers etc.) in order to secure positive outcomes for clients and for the business.

Decision-making and Problem Solving

The Private Banker is expected to be able to apply analytical reasoning and judgement to solve problems and deliver the highest levels of client advice and service.  They must be capable of employing appropriate resources to drive continuous improvement and innovation.  In this role they must make informed, transparent decisions and consider the broader/longer term implications.

The Private Banker is expected to take ownership for issues that impact clients, to work to resolve them and to seek opportunities to suggest areas for improvement, enabling breakthrough innovations as well as incremental improvements to the business and our client service.

Risk and Control Objective

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.

This includes but is not limited to:

• Ensuring conformity with global and market standards of client service
• Ensuring conformity with all Barclays terms and conditions
• Ensuring conformity with global and market conditions on AML and KYC
• Ensuring conformity with global and market conditions on product delivery
• Ensure that sales and business practices are within the regulatory framework
• Ensure that you are up to date with latest regulatory standards on market education/training
• Ensure that you are up to date with latest regulatory standards on suitability, capital adequacy and record keeping.

Person Specification

• The candidate will have strong relationship skills and have experience of managing and handling the needs of private client individuals and families. The ideal candidate will be effective in gaining an in-depth understanding of clients’ needs and advising on a diverse range of wealth management solutions.
• The candidate will ideally have experience in controlling and monitoring of risk within a client book.
• The candidate will have experience of the Financial Services industry, ideally with some experience in the areas of Retail regulated products and services to mass market and high net worth customers and asset management.
• The ideal candidate will maintain a full, up to date understanding of the general financial markets dynamics and current financial concepts.
• The ideal candidate will have a high aptitude and understanding of the digital landscape, with the ability to effectively manage Clients’ changing needs in this area.
• Where appropriate, a detailed and up to date knowledge of the relevant International market

Essential Skills/Basic Qualifications:

• The ideal candidate will be educated to Degree level.
• The right candidate will have the appropriate regulatory qualifications.

Purpose of the role

To establish and nurture profitable partnerships with both corporate and individual clients. It's the bridge between the bank's offerings and clients' needs, ensuring mutual benefit and long-term success. 

Accountabilities

• Management of client relationships to identify the clients financial goals, challenges, and risk tolerance to support the analysis of data obtained from various sources, including the investment portfolio and cash flow, to identify trends, insights, areas for improvement and additional services to support client needs.
• Research and understanding of the client's industry trends, regulatory landscape, and competitive environment to inform strategic recommendations.
• Design of customised solutions that address the client's specific needs and objectives, incorporating a range of products and services from the bank's portfolio.
• Communication of the value proposition of proposed solutions, justification of recommendations, and negotiation of terms that are beneficial for both the client and the bank.
• Provision of guidance to clients to support their financial decisions, offering expert investment advice, risk management and wealth management strategies support, and updates on market trends to ensure a positive and continuous relationship.
• Assessment of financial, legal, and operational risks associated with client relationships, and implementation of measures to minimise potential losses.
• Documentation of all client interactions, transactions, and agreements to ensure transparency and auditability, and communicate findings effectively to support product development, service offerings, and the overall bank strategy.
• Monitoring of client satisfaction, revenue generated, and other relevant metrics to evaluate the effectiveness of relationship management efforts.

Director Expectations

• To manage a business function, providing significant input to function wide strategic initiatives. Contribute to and influence policy and procedures for the function and plan, manage and consult on multiple complex and critical strategic projects, which may be business wide..
• They manage the direction of a large team or sub-function, leading other people managers and embedding a performance culture aligned to the values of the business. Or for an individual contributor, they lead organisation wide projects and act as deep technical expert and thought leader, identifying new ways of working and collaborating cross functionally. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
• Provide expert advice to senior functional management and committees to influence decisions made outside of own function, offering significant input to function wide strategic initiatives.
• Manage, coordinate and enable resourcing, budgeting and policy creation for a significant sub-function.
• Escalates breaches of policies / procedure appropriately.
• Foster and guide compliance, ensure regulations are observed that relevant processes in place to facilitate adherence.
• Focus on the external environment, regulators, or advocacy groups to both monitor and influence on behalf of Barclays, when appropriate.
• Demonstrate extensive knowledge of how the function integrates with the business division / Group to achieve the overall business objectives.
• Maintain broad and comprehensive knowledge of industry theories and practices within own discipline alongside up-to-date relevant sector / functional knowledge, and insight into external market developments / initiatives.
• Use interpretative thinking and advanced analytical skills to solve problems and design solutions in often complex/ sensitive situations.
• Exercise management authority to make significant decisions and certain strategic decisions or recommendations within own area.
• Negotiate with and influence stakeholders at a senior level both internally and externally.
• Act as principal contact point for key clients and counterparts in other functions/ businesses divisions.
• Mandated as a spokesperson for the function and business division.

All Senior Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others.

All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.