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Head of Wealth Management, Retail Banking
HFC Limited, the banking and property finance subsidiary of HF Group, has an exciting opportunity in our Retail Division. We are seeking a talented, dynamic, self-driven and results-oriented individual who is committed to performance, excellence, and participating in our growth strategy.
We are currently seeking a talented Senior Manager within the Retail Banking Division of HFC, a subsidiary of HF Group. The Senior Manager’s mandate is to set up the Wealth management unit and meet the strategic revenue objectives of the division while growing its market share . They will be responsible for effectively integrating a highly complex array of interfaces to ensure common focus and drive market ownership. The role will report to the Director Retail and Business Banking.
Deadline: 2025-05-16
Category: Retail
Subsidiary: HFC
Principle Accountabilities
Strategy/ Financials:
- Develop and execute strategies to set up the division and identify business development opportunities.
- Accountable for the achievement of financial and market goals.
- Build and maintain relationships with key stakeholders and work with Marketing to establish Wealth Management brand and awareness.
- Develop, implement and achieve annual goals and objectives as established in annual operating plan/strategy.
- Providing vision, direction and leadership to his/her market and team.
- Lead execution of wealth strategic initiatives for Mass Affluent, Diaspora and High Net Worth client segments as well as Corporates.
- Coordinate with The Bank’s branches to achieve client segment sales targets (e.g. revenue to plan, insurance sales, managed money new business sales and referrals to partners).
- Identify and sign up Strategic Partners for growth.
Sales/Sales Management:
- Coach and support Team members and holding them accountable for standards of excellence.
- Set individual and Team targets to ensure market growth and penetration.
- Create an effective sales culture in which individual and team quality goals are met.
- Provide sales management direction through review and analysis of market trend data, pipeline reports, call reports, and win/loss trends.
- Develop group-wide strategic plans for production goals, business development needs, market segmentation, key promotional opportunities, and product introduction and sales expansion.
- Coordinate the development of the marketing/sales plan to establish client service, sales and market penetration objectives for the Division.
- Monitor client service and sales performance of the Division on a constant basis; take action to implement changes in the objectives and performance management.
- Review market research to assess market characteristics, sales trends, clients, wealth management needs, competitive climate, etc.
People Management:
- Develop an effective team of highly competent market professionals; developing and maintaining a reputation in the marketplace as the recognized wealth management division and employer of choice.
- Oversee and ensure that the team is performing and collaborating effectively.
- Ensure all team members work together to deliver client experiences.
- Building and maintaining strong linkage between Wealth Specialists, Relationship Managers and HFC Branches to present one wealth team.
- Provide coaching and feedback that leads to sound business results and as a result facilitate professional development and career progression for the employees.
- Establish near term goals for the division and manage performance of each employee.
- Ensure employees understand how the tasks they perform support the Division.
Clients / External Marketing:
- Create strategies for client expansion and retention in the markets
- Engage with Branch Managers, Relationship Managers, Treasury and Custody Team, in a bid to strengthen the distribution channel.
- Manage and enhance client relationships.
- Provide expertise and leadership in market-related activities to ensure visibility and generate long term business development opportunities.
- Be visible and known in the market to generate business.
- Ensure clients are being directed and serviced in the appropriate wealth segment offering.
- Collaborate with Marketing to coordinate product development, advertising, and promotion activities with the objectives of the Division.
- Coordinate resolution of client issues and inform client of steps taken to resolve requests or problems.
Product Development:
- Develop, plan, and manage the Wealth Management products and services
- Develop financial solutions and business development strategies for a well-defined market. Such products could address areas of Personal Trust (Fiduciary Services), Retirement Plan Services (RPS), Unit Trusts, Land Owner Wealth Management and Insurance Products/ Solutions among others.
- Prepare reports and do analysis for research to identify any potential market entry points and identify revenue optimization opportunities .
Regulatory/ Compliance:
- Oversee the administration, compliance and operations functions of Wealth Management, maintain policies and procedures. Interface with management for all required reporting.
- Cooperate with, participate in, and support the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Division’s compliance with all regulatory requirements.
- Review and update current policies and keep track of the latest regulatory developments.
- Oversee the internal and external audits, and coordinate participation with the division’s and auditors’ needs.
Key Competencies and Skills
Key Competencies & Skills
- Strong knowledge of the global Asset & Wealth Management industry, with deep understanding and experience of at least one or more sub-sectors within the Industry (e.g. regulated funds, alternative funds, asset servicing, wealth advisory, pensions).
- Experience in managing a team of professionals.
- Expertise related to private wealth management strategies and issues.
- Broad perspective of economics and financial markets and more so the Kenyan market.
- Strong presentation skills, both written and verbal.
- Exceptional organizational skills.
- Excellent communicative and interpersonal skills.
- Ability to network and build profile in a given market.
- Sales management experience.
- Experience resolving conflict and negotiating.
- Experience optimizing processes and productivity.
Minimum Qualifications, Knowledge and Experience
MINIMUM REQUIREMENTS
- Undergraduate degree; a professional designation (CPA, CFA, CISI) is highly preferred.
- Approximately 10 years of related experience with a background in one or more of the following areas: Private Banking, Wealth Advisory, REITS and Investment Management.
- At least 3 years’ experience providing financial advice for any of the following topics: financial, insurance, retirement and estate planning, investments, income taxation, and the legal, regulatory, ethical, and risk management aspects of these financial activities.
- 3+ years’ experience managing or leading teams in the financial services industry.
- Proven track record in developing and growing a related business.
- Proven track record generating sales and managing relationships with high net worth clients ($500k – $2M), including broad technical skills in retirement products, general investment matters, and applicable tax and estate planning issues.
