Local Head of Private Banking Support Dubai

The Head of Private Banking Support (HoPBS) function focuses on ex-ante (preventive) controls to increase effectiveness and ensure consistency in operational processes. It is together with the Local PBCOO and the Head of Private Banking (HoPB) responsible for the First Line of Defense (FLoD) to ensure an effective, risk-controlled, and regulatory compliant operating environment for the Private Banking function based in Dubai, UAE. Furthermore, PBS contributes to the enhancement of and oversight over the FLoD control environment. In addition, the function is responsible for various topics related to the daily office wide matters, communication, staff training, governance, and office support.

Key roles and responsibilities

• Coordinate the control activity in line with the Global Private Banking Control Blueprint, though aligned to local regulatory requirements
• Actively identify, manage, and mitigate risks arising from business operations including but not limited to AML/KYC risk, cross border, and suitability.
• Assure quality and timeliness of the activities performed by the frontline such as the content of Client Information Profiles (CIP), account documentations and periodic relationship reviews
• Approve the periodic relationship, business introducer and independent asset managers reviews and CIP modifications as well as new standard risk accounts in accordance with the authority delegated by HoPB, and ensure sufficient oversight in the area
• Keep track of the timely completion of pending items (follow-ups) and remediation of issues related to client lifecycle activities
• Proactively collect feedback from the frontline to improve the efficiency of the day-to-day operations
• Successfully manage internal audits and operational risk Incidents

Management & Leadership

• Demonstrate exemplary conduct and live by the Group's Values and Code of Conduct
• Lead the team of PBS to drive client-centric process enhancements to improve better client experience, higher service standards, operation efficiency and productivity of the frontline
• Plan and coordinate activities of the team in line with global standards, and sets clear team goals to ensure staff have clarity of roles and responsibilities
• Ensure the competence of staff members with necessary skills to perform the roles
• Groom the staff through various exposure in meeting/project involvement, coaching and mentoring
• Identity relevant training/industry seminars, etc suitable for staff
• member to attend
• Monitor team performance, regular feedback given, and
• performance appraised fairly
• Motivate team members and ensure teamwork, guided by EFG
corporate values to build a strong positive culture

Other tasks

• Continuously maintain and improve effective communication with the three lines of defence to ensure compliance with the latest regulatory standard.
• Work jointly with local Business Risk Management (BRM) and Global PBS to smoothen operational processes without compromising the control effectiveness.
• Ensure appropriate PB representation in Risk and Compliance governance committees.
• Provide on-going training to new and existing CROs and CSOs on systems, processes, and policies.
• Collaborate with the Global Head of PBS in the review and refinement of the FLoD framework.
• Any ad-hoc tasks assigned by the Head of PB (“HoPB”) or the Global Head of PBS.
• Advise, check and validate payments and securities transfers.