Wealth - Head of Coverage

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Job Summary

• To lead and direct the strategic delivery of key Wealth activities in country. This will include, but not limited to, planning and coordinating with product heads in Country and at Regional Level (Head Office) to optimize the relevance of Wealth products and services.
• Formulate, drive and deliver on business strategic objectives for Wealth, with specific focus on clients’ needs and expectations. Ensure the infrastructure required to deliver the business plan is in place and the service levels agreed with the various infrastructure heads.
• Provide overall leadership for the development of key strategic direction of the segment of Absa Bank Mauritius Limited.
• To take full accountability of the Balance sheet and P&L of Wealth business.

Job Description

Provide Strategic Leadership

• Stay abreast of industry trends, role players and in country opportunities and challenges to ensure that the Coverage Business Units are well positioned to provide competitive and industry leading product and services.
• Identify strategic role players and stakeholders and engage all stakeholders, role players and industry forums to understand changes to strategy, regulations and markets.
• Direct the review and design of the optimal Coverage business model and deliver on required changes to ensure the business maintain competitive advantage, meet client expectations, reduce cost and improve profitability
• Drive the development and tracking of tactical plans and scorecards and take corrective actions where required.
• Scan the external market to understand future challenges and ensure that the Wealth Business Units are positioned appropriately
• Lead, contribute and play a proactive role on various committees as required
• To design and execute Coverage strategy plans for the South Africa, Rest of Africa & Middle East Corridors in collaborations with Head of Wealth

Drive Business Performance and Enhance Customer Centricity

• For the Coverage Business areas managed by this role, implement performance controls to proactively measure achievement against strategic targets and address changes or non-performance.
• Provide ongoing advice and direction to the operational environments managed by this role in terms of the areas of focus, opportunities, key targets and relative policies, legislative and regulatory environments.
• Ensure delivery of appropriate products and services to match customer needs.
• Promote Mauritius IFC, including designing of new products
• Support the Bank in the delivery and implementation of Customer Channels
• Implement governance structures and stakeholder frameworks to ensure effective customer management and engagement as well as customer experience.
• Build and maintain effective stakeholder relationships within the industry and within the Bank to ensure the unit is successfully positioned to manage risks and expectations and deliver on shareholder value.
• Participate and contribute to industry and Bank wide forums and governance structures as required or directed.
• Engage and align with Product Head and Head of Enablement to agree on Wealth strategy, delivering of new products and channels.

Maintain a healthy risk profile

• Identify and take accountability for the assigned principal risks relevant to the Coverage Business areas in terms of the Bank Enterprise Risk Management framework and ensure that adequate controls are in place within the role’s area of responsibility.
• Monitor all business risk activities (including business assurance and operational risk management) within the remit of this operating environment through obtaining feedback and providing guidance for tactical plans to ensure compliance to Group standards.
• Drive a culture of proactive compliance and risk management within the Coverage Business teams.
• Review the risk management and compliance practices of the Coverage Business Units as a whole and highlight areas that require improvement to Business Heads in the Coverage team. Ensure that they understand their responsibility for risk ownership.
• On a quarterly basis, evaluate of the status of Operational and Principle Risks within the Coverage Business Units and complete the required attestations to confirm control status.

Mandatory Risk and Control objective

• Accountable and responsible for complying with the Bank’s internal controls as set out in applicable procedures, Barclays policies and standards, local regulations and as per the Enterprise Wide Risk Management Framework to ensure that no actions on your part leads to a control failure.
• Embedding and fostering a control culture by ensuring the highest control standards are applied at all times.

Manage the financial sustainability and effective use of resources within the Wealth Business Units

• Drive the annual planning and review of MTP, STP and Revised Annual Forecast (RAF) budgets for the Coverage units including the setting of MTP and STP Financial targets and standards and related measures and anticipated financial cost targets in alignment with the Head of Wealth.
• Ensure rigorous cost management within the Coverage units by implementing a highly structured budget, monitoring and reporting process and instilling discipline within the team around cost control.
• Ensure the Coverage units have sufficient resources to deliver on operational and customer commitments.
• Monitor annual resource utilization and implement strategies to improve the efficient allocation and utilization of resources within the coverage units
• Ensure accurate and timely financial reporting in terms of the annual calendar.
• Drive the effective identification, funding and resourcing of new change initiatives within the Coverage Units
• Review workforce and recruitment plans for the Coverage units and reallocate resources where required.

Commercial Partner 

• Client- facing, participating in large, complex and high profile deals directly, either to lead a transaction or provide senior support to the team. This includes attending client meetings and delivering technical pitches
• Product identification and innovation based on market trend and regulation
• Responsible for co-ordination of NPA of all products specific to Wealth
• Representative for Wealth in respect of large deal forum
• Work with Business heads, Regional Heads and Front Office to identify potential Wealth solutions, engage with product houses and then deliver for the Wealth business
• Solicit and advise clients on a wide range of Wealth transactions
• Develop relationships with existing and potential clients from initial negotiations to closure
• Meet performance targets and objectives including sign off of sales strategy, management of the sales portfolio and implementation of Wealth initiatives
• Develop and implement the business plan for Wealth including development strategies, client segmentation, marketing plans and execution criteria
• Implement performance controls to proactively measure achievement against strategic targets and address changes for non- performance
• Provide ongoing advice and direction to the operational environment managed by this role in terms of the areas of focus, opportunities, key targets and relative policies, legislative and regulatory environments
• Continuously monitor service levels and implement strategic measures to improve customer satisfaction and overall profitability

Citizenship and external relationships

• Oversee the analysis of external and internal factors that are likely to influence the business area in the future including major changes in the regulatory environment, competitive activity, new market entrants and customer behaviour changes. Ensure that the research informs strategy scenarios in a sensible manner
• Establish and maintain professional relationships through networking with industry leaders, regulators and policy makers as well as business partners that are key in the development of new ventures
• As a member of the Wealth Exco to participate and contribute in executive management meetings
• Build strong relationships with both global and local internal and external stakeholders
• Effectively communicate developments within areas of activity to all relevant stakeholders
• Ensure impeccable and timeous service levels
• Liaise with various Business Units to achieve business objectives

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)