Director, Wealth Planning

Roles & Responsibilities

JOB SUMMARY

• Be part of the Wealth Planning and Family Advisory (WP & FA) team based in Singapore and the wealth advisory business for Standard Chartered’s Private Banking (‘PvB”) in Singapore. The individual should be working with relationship managers, team heads and market heads to develop client relationships and conversations using the different topics and subject matters which a wealth planner and family advisor should be able to leverage. The individual should support the Head of Wealth Planning and Family Advisory in Singapore in driving strategy implementation, business growth, value proposition offerings, people agenda and key internal and external partnerships to help the Regional Head in Singapore build the overall PvB business. The individual should also provide technical support to PvB RMs based in Singapore with the sale and maintenance of fiduciary services and assist in making referrals of their clients who are looking for insurance offerings to third party brokers.
• The individual will support Private Bank in bringing in new clients and relationships while maintaining and deepening existing clients and relationships. This is to be accomplished while giving appropriate consideration on maintaining product integrity, minimising risk, avoiding litigation and achieving NNM and other business targets. These support provided to the RMs, maintenance of fiduciary services and assistance on referrals to third party insurance brokers are expected to lead to NNM and increase both AUM and revenues for the bank.

RESPONSIBILITIES

Strategy

• Drive profitable growth by acquiring, deepening, and retaining client relationships with HNW and UHNW clients
• Assist the Head of WP & FA team Singapore in implementing the overall WP & FA strategy for Singapore AC.
• WP & FA are growing areas of interest for UHNW clients. The WP should working with internal and external partners to bring competitive and comprehensive WP & FA solutions to UHNW clients.
• In line with the focus to grow our UHNW business in Private Bank, to work together with the global team of wealth planners across key locations and offer an aligned and global proposition to UHNW clients that have WP & FA needs across geographies.
• Develop WP & FA product and service offerings
• The individual should develop the right skills and knowledge to achieve WP & FA KPIs where needed by business, and also to help with coaching the juniors within the WP & FA team.
• Achieve NNM target and other KPIs including client engagements.
• Work closely with the Head of WP & FA as well as Regional / Country management to promote WP & FA capabilities
• Assist with the management of key external relationships e.g. with approved Insurance brokers, trustees, accounting firms, tax advisors, immigration specialists

Business

• Designated lead to engage new business prospects for fiduciary services
• Provide technical support to RMs in relation to the sale of fiduciary solutions and referral of clients to insurance brokers.
• Act as a conduit between the Private Bank and SC Trust for ongoing fiduciary matters with existing clients.
• Work closely with RMs to develop their marketing and business development plans for offering fiduciary services to clients.
• Contribute to the preparation of marketing and sales materials to support the fiduciary business, ensuring that these are all approved by local Legal & Compliance.
• Work closely with SC Trust to deliver the appropriate solutions for clients.
• Assist in creating the WP & FA proposition and sales strategies for all RM teams in Singapore AC.
• Review the new business to be introduced to SC Trust to ensure manageable levels of fiduciary, reputational and legal risks.
• Present the new business to LCC or GCC for approval.
• Continue to monitor and assist the RMs and their clients in connection with their fiduciary structure alongside the RMs and making amendments as and when necessary, to meet any change in circumstances or needs for the clients.
• Work closely with other relevant product teams and key stakeholders in the development of new products and ongoing adherence to and monitoring of developments and changes to existing products (and related policies and processes) and preparation and presentation of exceptional cases to the LCC.
• Assist and attend client meetings with RMs in Singapore and outside Singapore with regards to the WP & FA offering.

Processes

• Support the continuous improvement of processes to increase operational efficiency and effectiveness.
• Support the effective management of operational risks across the Business and in compliance with applicable internal policies, and external laws and regulations at a global level.
• Support the delivery of Business strategy in a safe and well-controlled manner and on an end-to-end basis.
• Ensure sales management, suitability and onboarding processes are applied appropriately

People & Talent

• Train and assist the RMs so that they better understand the fiduciary structures.
• To the best of their knowledge, monitor and keep up to date with changes in tax laws and other legislation that affect the fiduciary business and report impact on changes to regional markets.
• Assist in creating a WP & FA proposition and sales strategies for all RM teams in Singapore AC.

Risk Management

• To comply with the highest standards of regulatory and business conduct and practices as defined by internal and external requirements.
• Understand and ensure compliance with, in letter and spirit, all applicable laws, regulations and guidelines including those governing securities activities, company law, anti-money laundering, terrorist financing and sanctions; the Group’s policies and procedures; and the Group Code of Conduct.
• Ensure that Risk Management matters that are brought to attention are subject to direct remedial action and/or ensure adequate reporting to the relevant Risk Committees and/or line management.
• Handle customer issues, complaints, and product enquiries on timely basis in accordance with established procedures

Governance

• Responsible for assessing the effectiveness of the Group’s arrangements to deliver effective governance, oversight and controls and highlighting gaps as appropriate.
• Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
• Fulfil supervisory responsibilities in line with supervisory principles.
• Ensure adherence with the highest standards of ethics and compliance with relevant policies, processes, and regulations forms part of the culture.
• Participate in Local Client Committee and other relevant committees where applicable.
• Engage with all audit report findings and ensure feedback is acted upon

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

• Global Head of Wealth Planning & Family Advisory
• Head of Wealth Planning & Family Advisory, Singapore
• Head of SC Trust
• Wealth Solutions Product teams in Singapore
• Regional Head / Market Heads
• Senior Client Partner / Team Leaders
• Head of Client Services Manager
• Client Service Managers
• Product Specialists and dedicated functional partners
• Relevant Front office colleagues
• External Tax and Legal Firms
• Market Counterparts
• External insurance brokers

Other Responsibilities

• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats)

Our Ideal Candidate

• 10 years of experience in wealth planning advisory
• Academic or Professional Education/Qualifications -University Graduate with a Legal qualification preferred.
• Licenses and Certifications/accreditations – as required by role remit and responsibility
• Professional Memberships – Relevant STEP or ICSA and valid Qualification/ Membership (as required by role remit and responsibility)
• Bank training, i.e. mandatory & developmental
• Demonstrable and relevant experience in the Fiduciary / Private Banking industry commensurate with this remit and level of responsibility.
• Strong communication in Business Language
• Demonstrable and relevant experience in the Private Banking industry commensurate with this remit and level of responsibility
• Proven risk management capabilities
• Firm in all business guidelines and compliance issues
• Sound knowledge of financial markets and investment products
• Outstanding communication and presentation skills

Role Specific Technical Competencies

• Relationship Management
• Market Knowledge (SIF)
• Products and Processes
• Strategy and Business Model (SIF)
• Manage Conduct
• Manage Risk

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

Recruitment Assessments

Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

Visit our careers website www.sc.com/careers

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