Head of Wealth Products, Portfolio and Proposition

ADIB Group; Abu Dhabi; On-site; AED 120,000 - 200,000; Full time

Job summary

A leading financial institution in Abu Dhabi is seeking a Head of Wealth Products Portfolio and Proposition to oversee product growth and sales within their wealth management segment. The ideal candidate will have extensive experience in wealth management with a strong knowledge of the UAE market, proven leadership abilities, and a track record of driving product sales and customer engagement. This role involves managing new product initiatives and ensuring compliance with regulatory standards.

Qualifications

• Minimum of 18-20 years industry experience managing Wealth Management Business.
• Ability to budget, forecast and analyze.
• Strong interpersonal skills and motivational abilities.

Responsibilities

• Oversee wealth management products Proposition Portfolio growth.
• Drive new wealth product sales through investment advisors.
• Ensure compliance to all internal procedures and regulatory requirements.

Skills

Strong subject matter expertise on Wealth management products and the UAE Market

Strong wealth advisory / Investment management skills

Good understanding of Digital Wealth Capabilities / platforms

Strong leadership, negotiation and presentation skills

Education

University degree

Job description

Overview

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.

• Wealth products
• Wealth/ Investment Advisory
• Wealth Portfolio Quality and AUM growth
• Wealth Governance / Process Controls (with governance team)
• Wealth Proposition

Key Accountabilities

• Products: managing wealth products including sourcing new products from third parties or through ADIB Capital, enhancing existing products offerings, 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 portfolio concentration for the customers.
• Monitoring customer returns
• Reviewing customer portfolio mix in line with customer needs and suitability analysis
• Reviewing customer and bank level exposures across different products and monitoring for concentration risk
• Reviewing customer and bank portfolio in line with market dynamics / changes and proactively proposing customer strategies
• Wealth Advisory: regular updates to customers including statements / portfolio lead indicators, etc.
• Regular portfolio analysis and discussions with customers through RMs and investment advisors on portfolio performance / concentration / returns
• Designing portfolio strategy for customer portfolios as inputs for customer decisioning
• 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
• Drive 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 growth, involved in daily management of sales / productivity and monthly and quarterly targets achievement
• Setting up sales targets and AUM targets - Budgets & Actuals
• Designing incentive programs
• Reviewing sales / portfolio performance on a monthly / quarterly basis
• Develop / enhance programs to train RMS
• Driving new digital initiatives for the wealth management business including
• Enhancing digital journeys end to end from onboarding to deal execution
• New digital products and platform (e.g., online transaction capabilities in real time) and new wealth products like crypto accounts and gold / silver accounts
• Developing Robo advisory and customer managed portfolio
• Interface with external parties like the UBF / SCA to ensure the bank is first in the market for new opportunities / product capabilities and fully compliant with regulations / processes
• Ensure full compliance to all internal procedures / policies and regulatory compliance requirements
• Lead the bank’s foray into new business opportunities like Pension Funds or new geographies in GCC

Specialist Skills / Technical Knowledge

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

Previous Experience

• 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
• University degree is a must
• Understanding of marketing dynamics including demographic factors, competitor products and services
• Detailed product knowledge of both regulated and non-regulated products
• Familiarity with local regulation related to Central Bank / SCA
• Ability to budget, forecast and analyze

Required Experience: Director