Private Banker Job Description
Private banker
provides high end relationship management and credit advice to High-Net-Worth Canadians following all five principles of the Black Card Experience.
Private Banker Duties & Responsibilities
To write an effective private banker job description, begin by listing detailed duties, responsibilities and expectations. We have included private banker job description templates that you can modify and use.
Sample responsibilities for this position include:
Grow the client base through networking and building around the core capabilities of tailored lending to meet the clients' needs for liquidity, access to the world's leading equity, fixed income and alternative investments and a holistic approach to family wealth management
Partnering with product specialists in Trust, Mortgage, Investments and Insurance to obtain cross-sell opportunities
Proactively monitors client affairs and follow through with opportunities identified during discovery and financial planning
Relationship manage and grow long-term profitable client relationships
Acts as the client’s trusted advisor and provide them with the right solutions
Acts as an educator to provide clients with required knowledge to make informed decision
Collaborate with business partners to offer a seamless customized solution
Client relationship experience (previous private banking experience preferred)
Keen interest in investment markets, industry trends and wealth management solutions
Lateral thinker with ability to generate insightful and practical solutions to client situations
Private Banker Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Private Banker
List any licenses or certifications required by the position: NMLS, RE5, FAIS, FSB, NQF
Education for Private Banker
Typically a job would require a certain level of education.
Employers hiring for the private banker job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Business, Finance, Education, Accounting, Economics, Management, MBA, Financial Services, Business/Administration, Technical
Skills for Private Banker
Desired skills for private banker include:
Home equity lines of credit
Residential mortgage products
Securities based loans
Certificates of deposits
Credit cards
High net worth tailored lending products & commercial credit products
High net worth tailored lending products and commercial credit facilities
Investments
Investments and taxes
Wealth management business
Desired experience for private banker includes:
Co-ordination of the appropriate product specialists to develop tailored, long-term plans for clients
Knowledge of Wealth Advisory financial solutions and Wealth Management Discovery Process
Demonstrated partnering with internal and/or external experts lawyers, accountants etc
Ability to speak fluent Mandarin is a requirement
*We are in search of a candidate with flexibility to work anywhere in the Greater Vancouver Area***
Ability to speak fluent Cantonese and Mandarin will be considered an asset
Private Banker Examples
1
Private Banker Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of private banker. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for private banker
- Summarize data describing current and long-term trends in investment risks and economic influences pertinent to investments
- Advanced Diploma in Financial Services (RG146)
- Tertiary qualifications in a related discipline would be highly regarded
- Implement practice management disciplines to ensure long term profitable growth of client portfolios
- Create & implement effective, customized client strategy documents and action plans to enhance share of wallet, retention, and profitability of existing and new client relationships
- Maintain awareness of opportunities to determine areas of operational risk or potential losses
- Manage a portfolio of clients domiciled in the North Asia region to create investment, wealth advisory, financing and lifestyle solutions that closely match the HNW individual's unique financial objectives
- Be the client's point of contact for all queries and services relating to the Bank
- Establish an annual sales plan with the Manager and setting and working towards performance targets for revenue growth, new qualifying HNW households and deep discovery activities that reflect performance expectations of similarly tenured PBs for the specific Region
- Responsible to ensure clear and adequate Source of Wealth, Source of Funds, references or other sources to corroborate reputation information where available, geographic risk is captured in the client file to support the on boarding of the new relationship
Qualifications for private banker
- Must have a good understanding of tax, estate and financial planning and investment vehicles
- The incumbent must be able to relate comfortably with affluent and influential clientele in both a business and social content, demonstrating an ability to display a high degree of poise and professionalism at all times
- The successful completion of a course of study that will enable registration with the appropriate provincial securities commission to obtain a license to sell mutual funds
- Minimum of 10-15 years experience in private banking/asset management/Trust or Fiduciary
- Experience operating in an environment that stresses both individual accountability and team-based performance
- Credit, underwriting and loan structuring skills
2
Private Banker Job Description
Job Description Example
Our company is looking to fill the role of private banker. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for private banker
- Support the sales and service team respecting and reinforcing role clarity to deliver on client needs
- Or exceed production goals
- Collects and analyzes information that reflects the current creditworthiness of customers and the current merits of existing loans
- Responsible and accountable for new strategic relationship acquisition and resulting new business generation
- Maintain and develop strong relationship with internal departments
- Private Banker will participate in Pre-screen and relationship strategy discussions with the Wealth Advisor, Credit Portfolio Manager, Investment Advisor and Private Banker
- Coordinate meetings, diaries and attendance at relevant meetings, including attending those where assistance is required with meeting notes
- Develop and manage a portfolio of private banking clients through a customized suite of products, in addition to traditional banking services consisting of credit, investment, insurance and mortgage products and services and deposit solutions
- Cultivate existing private banking tier clients and establish new relationships by calling on prospective clients to uncover prospects needs for products and services and recommend solutions
- Execute sales plans and strategies in order to help structure and solidify deals to ensure goals are consistently met
Qualifications for private banker
- Strong team, client and service orientation problem solving ability and understanding of basic credit and tax analysis skills
- University degree (BComm, MBA , CFA), in addition to industry courses (eg
- Ability to generate minimum production revenue for loans
- Demonstrated awareness of changing financial markets and overall economic environment
- 7 years experience in direct financial sales, with 3 years of wealth management/private banking experience in the financial services industry
- Possess and maintain Series 6, 63 and Life licenses
3
Private Banker Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of private banker. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for private banker
- Identify opportunities to deliver appropriate commercial, retail, insurance, investment and financial planning services
- Collaborate with other internal specialists and take ownership for resolving client’s banking needs to ensure an exceptional Private Banking client experience
- Monitor current clients’ banking relationship deposits and loans to proactively maintain asset quality
- Train and mentor Private Banking Service Officers and collaborate with branch personnel relative to training, customer service and referral practices
- Maintain knowledge and understanding of appropriate legislation and regulations affecting banking and customer interaction to ensure that all transactions and customer relationships are handled in a manner consistent with laws and regulations
- Ensure a high quality and compliant portfolio of client relationships by working within audit, compliance and regulatory guidelines
- Minimum of 5 to 7 years of experience in private banking relationship management with concentration in establishing high net work client base
- Ability to develop complex credit relationships with high net worth individuals and corporations/partnerships to provide appropriate financial direction
- Strong business acumen with strong attention to operational policies and procedures combined with strong sales ability and persuasiveness
- Some travel will be required to visit client sites (20%+)
Qualifications for private banker
- Demonstrated responsibility suitable for supporting the relationship management & service delivery of a Private Banking team, knowing when to seek assistance from others on the team
- Possess valid driver's license and own transportation
- Bilingual fluency in both French and English will be considered an asset
- Circa current 200 million USD AUM
- Prior experience with a leading bank covering the MENA market
- Ability to relate comfortably with affluent and influential clientele in both a business and social content, demonstrating an ability to display a high degree of poise and professionalism at all times
4
Private Banker Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of private banker. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for private banker
- Building and maintaining effective allocated introductory relationships with key internal and external stakeholders
- The analyst will be instrumental in the production of monthly reports and analyzing financial and investment data
- Identify industry trends, and will maintain and update market information
- Communicate up-to-date research and trade information to members of the Bank’s trading and sales force
- Perform financial analyses and analyze transaction or product structures
- Perform company analysis, and pricing analyses to determine the “best” value for the Bank or its clients on specific transactions
- Develops, establishes, and maintains relationships with high net worth individuals, the professional services industry and their partners, and not-for-profit entities by directly providing and/or coordinating standardized and customized personal and commercial cash management and depository services, secured and unsecured credit and portfolio management
- Comply with all Federal, State, and local consumer protection laws governing loan origination Comply with all Federal, State, and local consumer protection laws governing loan origination including the SAFE Act, their implementing regulations (Regulation G) and SAFE Act registration and renewal rules as defined by the bank
- Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation DD, Regulation E, Bank Security and other regulations as applicable to this job description
- Responsible for providing administrative support to private bankers
Qualifications for private banker
- Mandarin and/or Cantonese language skills desired
- Disciplined and organized / ability to work with partners across organization
- Achievement of the financial planning proficiency standard in the province in which you work, unless working in Quebec
- The ideal candidate will have excellent relationship skills with experience of managing and handling the sophisticated needs of individuals and families
- *Fluency in Mandarin is an asset
- Achievement of the financial planning proficiency standard
5
Private Banker Job Description
Job Description Example
Our growing company is looking for a private banker. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for private banker
- Use time effectively, balancing personal attention with use of other resources to deliver the Private Banking service
- Act as the link with the various private banking teams in arranging meetings, diary and attendance at relevant meetings where assistance is required with meeting notes
- Opens and services, with assistance of Commercial Private Banking Support Associates, new Bank accounts and loans for customers, adhering to policies and procedures to prevent new account fraud and BSA / USAPA violations
- Seek to become trusted advisor through regular client contact and relationship building
- Partner with other team members to achieve ultimate approval for new business and modifications to existing business, including active participation in and adherence to requirements of pre-screen & relationship strategy meetings
- Serve as client’s primary internal resource as it relates to lending and deposit needs
- Collaborate with peers, and mentor junior team members, as part of a team to ensure delivery of superior client service
- Complete banking portfolio responsibilities including portfolio reviews, renewals, oversee timely preparation of Team’s portfolio responsibilities including portfolio reviews (quarterly and annually), Credit Review, 5 Risk Rated, CAMP
- May provide training and guidance to less experienced Private Bankers
- Supporting all banking and customized lending solution needs identified within their book of business
Qualifications for private banker
- Relevant business degree and, or NQF 6 equivalent or higher qualification in Finance or Commerce or Banking
- Three (3) years in a Sales and Relationship Management environment
- Relevant business degree and, or NQF 6 equivalent or higher qualification in Financial Management or Certificate in Financial Planning (CFP)
- Experience in driving and meeting targets in a sales environment
- Two (2) years’ experience in client facing interaction selling wealth solutionsProficient in MS Office (Word, Excel, PowerPoint and Outlook) and the Internet
- The candidate will have strong relationship skills with experience of managing and handling the sophisticated needs of individuals and families