Head of Wealth Products, Portfolio and Proposition

Role: Head of Wealth Products Portfolio and Proposition
Location: Abu Dhabi

Role Purpose:
The role will be a senior role (effectively deputy to the Head of Wealth management) overseeing the wealth management products Proposition Portfolio growth and new sales. Will be directly responsible for the following areas.

1. Wealth products
2. Wealth/ Investment Advisory
3. Wealth Portfolio Quality and AUM growth
4. Wealth Governance / Process Controls (with governance team)
5. Wealth Proposition

Key Accountabilities of the role

• Products managing wealth products including sourcing new products from third party or and through ADIB Capital enhancing existing products offering including client communication portfolio updates to drive higher customer take up/ investment sales.
• Portfolio Management managing wealth portfolio across entire wealth segment to maximize customer returns optimize portfolio holding for customers and manage the portfolio concentration for the customers and the will include.

1. Monitoring customer returns
2. Reviewing customer portfolio mix in line with customer needs and suitability analysis
3. Reviewing customer and bank level exposures across different products and monitoring for concentration risk
4. Reviewing customer and bank portfolio in line with market dynamics / changes and proactively proposing customer strategies

• Wealth Advisory- This will include.

1. Providing regular update to customers including customer statements / portfolio lead indicators etc
2. Regular portfolio analysis and discussions with customers through RMs and investment advisors on customer portfolio performance / concentration / returns
3. Designing portfolio strategy for customer portfolios as inputs for customer decisioning
4. Regular need analysis with customers for portfolio mix

• Wealth Proposition creating enhanced customer proposition with the right coverage model based on customer segmentation / portfolio holding. And setting up a customer engagement program / calendar to ensure continuous customer engagement/ interaction.
• This role will be responsible for driving new wealth product sales through investment advisors and RMs network. The investment / wealth advisory team will report into this role and will be directly responsible for driving Wealth Product / Investment sales through RMs and AUM growthand will be involved in daily management of sales /productivity and monthly and quarterly targets achievement. The Head of Wealth Products Portfolio and Proposition will be responsible for

1. Setting up sales targets and AUM targets - Budgets & Actuals
2. Designing incentive programs
3. Reviewing sales / portfolio performance on a monthly /quarterly basis
4. Develop / enhance programs to train RMS.

• Along with the Head of Wealth management. The role be responsible for driving new digital initiatives for the wealth management business including

1. Enhancing Digital journeys end to end from onboarding to deal execution.
2. New digital products and platform for example building online transaction capabilities (real time) new wealth products like crypto accounts gold / silver accounts.
3. Developing Robo advisory and customer managed portfolio

• The role will interface with various external parties like the UBF / SCA to ensure that the bank:

1. Is first in the market for all new opportunities / product capabilities.
2. Is fully complaint to all regulations / processes.

• The role will also be responsible to ensure full compliance to all internal procedures / policies and regulatory compliance requirements.
• The role will also lead the banks foray into new business opportunities like Pension Funds or new geographies in GCC

Specialist Skills / Technical Knowledge Required for this role:

1. Strong subject matter expertise on the Wealth management products and the UAE Market
2. Strong wealth advisory / Investment management skills
3. Good understanding of Digital Wealth Capabilities / platforms
4. Ability to motivate direct reports.
5. Strong inter-personal skills
6. Strong leadership negotiation and presentation skills
7. Financial modeling budgeting and forecasting skills.
8. Ability to collate & interpret macroeconomic data.
9. Coaching: observe analyze and provide feedback to members to enhance employee productivity
10. Results oriented: is self-motivated driven by the need to succeed.
11. Personal organization: demonstrates high levels of personal organization delivering on time. Plans effectively to deliver goals.
12. Development: self-analytical; and takes accountability for own development

Previous experience required (if any)

1. A minimum of 18-20 years industry experience in managing Wealth Management Business for a large International Bank / Local UAE bank. Reporting into senior management
2. University degree is must.
3. Understanding of marketing dynamics including demographic factors competitor products and services
4. Detailed product knowledge of both regulated and non-regulated product
5. Familiarity with local regulation related to Central Bank /SCA
6. Ability to budget forecast and analyze.