Private Wealth Banker - Coverage (FAIS)

Absa Group; Worcester (MA); On-site; USD 60,000 - 120,000; Full time

Job summary

Join a forward-thinking financial institution as a Private Wealth Banker, where you will have the opportunity to build and maintain professional relationships with a diverse portfolio of clients. This role is pivotal in driving income growth and ensuring customer satisfaction through personalized financial solutions. With a strong focus on compliance and risk management, you will collaborate with specialists to deliver exceptional service and meet the evolving needs of clients. If you're passionate about wealth management and eager to make a significant impact, this is the perfect opportunity to advance your career in a dynamic environment.

Qualifications

• 5 years of experience in Private Wealth Banking or equivalent.
• Strong knowledge of financial products and risk management.

Responsibilities

• Build and maintain relationships with Private Wealth clients.
• Achieve financial targets and improve customer experience.
• Ensure compliance with regulatory frameworks.

Skills

Sales Acquisition

Customer Relationship Management

Financial Solutions Knowledge

Risk Management

Data Analysis

Communication Skills

Education

B-degree in Business, Commerce or Management Studies

National Diploma / Advanced Certificate in Business

Job description

Private Wealth Banker - Coverage (FAIS)

Apply locations Worcester time type Full time posted on Posted 3 Days Ago time left to apply End Date: December 31, 2025 (30+ days left to apply) job requisition id R-15970188

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

To build and maintain professional business relationships across a portfolio of Private Wealth clients, by achieving financial targets, proactively acquiring new clients, and improving customer experience within the scope of the Bank’s regulatory and compliance frameworks.

Job Description

Accountability: To build customer relationships in the preferred market segments:

• To own the primary relationship with our clients by being the client’s main contact point and to work collaboratively with specialists (ie financial and estate planners) to ensure that our clients experience the full spectrum of our value proposition.
• To ensure that you achieve the required contact strategy relevant to your portfolio based on client segmentation of your bespoke portfolio.
• To build, maintain and execute on client relationship plans to ensure you fully understand your clients’ needs and that we hold the primary relationship with our clients.
• To secure new business through interaction and engagement with current and prospective clients and leads generation and ensure new clients are fully on boarded.
• Ensure retention of clients in within acceptable targets and apply remedial actions where appropriate.
• Consistently achieve customer satisfaction scores as per agreed threshold by ensuring that customers are appropriately serviced in line with our value proposition.
• To work seamlessly with the sales support team in ensuring that they are enabled to support you in your portfolio.

Accountability: Deepen relationships with our customers through meeting their individual needs and achieving the required income from each portfolio.

• Prepare weekly for performance discussions with Area Manager Coverage to review client contact plans, client relationship plans, opportunities, successes and support required.
• To review and negotiate pricing structures with clients, in line with the Absa Pricing policy to ensure that the portfolio profitability is managed optimally.
• To effectively cross and up sell the appropriate products to the clients ensuring that all requirements in terms of FAIS (Financial Advisory and Intermediary Services Act), FICA (Financial Intelligence Centre Act) and NCA (National Credit Act) are met.
• Drive Income growth of the Portfolio through the acquisition of new clients.
• Analyse sales achieved against opportunities in portfolios on a monthly basis for new and existing clients.
• Complete a monthly analysis of the profitability of the portfolio of clients including the quality of credit and make recommendations to the Area Manager Coverage if actions are required for identified clients.

Accountability: Protecting our assets through appropriate levels of Risk and Credit Assessment

• Co-Manage high risk clients’ accounts in collaboration with Risk stakeholders.
• Ensure transparency and open dialogue between credit and the client by communicating the client’s requirements, by means of properly motivated and well-articulated motivations with the required supporting documents and giving feedback on the banks’ position regarding these requirements.
• Assist with the development of high quality credit client solutions which are both practical and appropriate (i.e. lending structures) for clients by influencing credit with knowledge on the client’s requirements as well as business and industry related knowledge.
• Coordinate and drive outstanding client reviews and ensure timeous finalisation.
• Ensure that arrangements with clients are within the credit guidelines and that credit is informed of any special arrangements via utilisation of the prescribed systems.
• Takes ownership of the portfolios risk management through consistent application the bank’s regulatory and compliance framework.

Accountability: Colleague and Personal Development

• To act as backup for other Private Wealth Bankers in the team in case of absence or during peak times according to the agreed schedule as provided by management.
• Keep abreast of developments in the industry/sector to ensure adequate client service and to support potential risks and or opportunities.
• Ensure that Continuous Professional Development (CPD) hours are maintained at all times.
• Complete the relevant Compliance, Risk and System, Product and role fundamental learning as per the Private Wealth Minimum learning requirements.
• Attend relevant economic environmental business forums to be able to raise client conversations to a strategic level.
• Subscribe to relevant segment specific initiatives and apply this knowledge to act on opportunities to maximize revenue and profitability.
• Demonstrate the willingness and ability to perform to the very best levels to ensure personal alignment to Absa’s Values and Vision.

Preferred Education & Experience

• B-degree in Business, Commerce or Management Studies or equivalent NQF Level 7 qualification.
• Five (5) years’ relevant Private or Wealth or Premium or Private Wealth Virtual Banking experience.
• FAIS Compliance.

OR

• National Diploma / Advanced Certificate in Business, Commerce or Management Studies, or equivalent NQF Level 7 qualification.
• 8 years’ experience in Private or Wealth or Premium or Private Wealth Virtual Banking, of which 4 years must be experience with Non Individuals (Professional Practice) within Private or Business Banking.

Knowledge and Skills

• Sales Acquisition and Business Development.
• Customer Relationship Management.
• Financial and wealth solutions and planning knowledge, including deal structuring.
• Relationship Banking Risk management, including credit knowledge around complex structures as well as solutions.
• Financial products knowledge with Superior Communication Skills.
• Data analysis to enable decision-making.

Education

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

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised.

About Us

Absa Group Limited (“Absa Group”) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.

Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has representative offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.