Our esteemed banking client based in Malta is seeking a dedicated Private Banking Manager to reporting directly to the Head of Department and is responsible for the day-to-day operations of the team. The selected candidate will be responsible for implementing, maintaining and enhancing the operations and responsibilities of the Private Banking Department. The role includes oversight of the department’s performance and collaboration with customers, regulators and internal stakeholders to ensure the Bank’s services and products meet the required standards. If you feel you have the necessary criteria, please apply for this Malta based role.
MAIN DUTIES AND RESPONSIBILITIES
- Responsible for the oversight, governance and development of the Bank’s private banking activities which are primarily MiFID-regulated investment services
- Ensuring that the Private Banking team delivers such services in a MiFID compliant manner whilst ensuring that all FCC related obligations are addressed in line with the Bank’s policies and procedures.
- Lead, mentor and supervise members of the Private Banking Department
- Conduct performance reviews, objective setting and staff development planning
- Promote a culture of professionalism, compliance, accountability and client-centricity
- Ensure appropriate segregation of duties, escalation procedures and governance standards are maintained within the department
- Identify and plan training initiatives and resource allocation within the department
- Act as an escalation point for operational, compliance, risk and investment-related matters within the department
- Liaise with the Head of Private Banking with regards to escalations, suspicious activity, regulatory requests and remediation actions which may need to be communicated to Compliance, MLRO and Risk
- Ensure staff awareness and adherence to AML/CFT obligations, MiFID requirements through guidance and ongoing training
- Onboarding customers, including dealing with high-net-worth individuals and complex client structures
- Support remediation activities arising from audits, compliance reviews and regulatory inspections
- Maintain strong working knowledge of MiFID, MAD, EMIR, AML Directives, AIFMD, UCITS and Investment Services Rules and Guidelines
- Attend client, regulatory and internal meetings on behalf of the Bank where required
- Ensure all communication is conducted professionally, accurately and in a timely manner in line with the Bank’s standards and policies
- Mediate disputes/issues among the members of the Team if and when the need arises
- Initiate possible disciplinary actions and advise the Head accordingly
- Provide ongoing feedback to the members of the team
- Actively participate in the market discussions surrounding asset and currency allocation within the Bank’s Investment Committee;
- Ensure, together with the Market Analyst and Head of Private Banking, that the investment products on the whitelist are not being distributed in their respective negative target market
- Deal with third party service providers
CANDIDATE PROFILE
- Bachelor’s degree in Finance, Banking, Economics, Business Administration, Accounting or related field
- MFSA approval for Investment Advice and Portfolio Management, or the ability to obtain such approval is considered an asset
- Experience in onboarding customers including dealing with high-net-worth individuals and complex client structures
- Strong understanding of private banking products, wealth management solutions, investment services, and financial markets
- Sound knowledge of banking regulations, MiFID, AML/CFT regulations, investment governance, risk management and compliance standards
- Excellent leadership and team management capabilities
- Strong command of Microsoft Office Suite and banking / CRS platforms
- Strong verbal and written communication in English
Due to the high volume of applications, we receive at GRS Recruitment, only shortlisted candidates will be responded to.
