The job equivalent in CA or US?
Hello all,
Hope this is the right forum or sub-forum to post my question. If it's in the wrong forum, could the mods mods move it to the appropriate one? Thx
My friend is thinking of moving to Toronto or NY from Hong Kong and currently his job title is "Customer Relationship Manager" in the Wealth Management department at one of the big banks in Hong Kong. He work's out of one of the retail branches.
What type of positions in CA/US would be similar in terms of tasks and responsibilities? He's looking into doing something similar or the same as his current position in HK but in CA or US.
Or what would be his options?
Overall tasks:
-Provide full-service banking and all transactions to high-net-worth individual clients by the extension of credit and the marketing of company services.
-Identify and surpass customer needs in International, Hong Kong or other markets, providing the full range of company services.
-Establish new relationships and manage existing relationship.
-Co-operate with platform manager to clear pending items, improve quality and resolve problems
Proactively manage a complex portfolio of clients, becoming a Trusted Advisor to lead strategic dialogues with clients at a portfolio level through the understanding of specific business requirements and delivering creative and flexible customer solutions.
-Provides support to client’s portfolio management and has regular contact and meetings with clients
Ensures client’s objectives are met through the portfolio allocation and are aware of their level of risk
Follows-up portfolios on a regular basis and develops client satisfaction.
-Identifies opportunities to meet the credit needs of clients seeking secured and unsecured loans for a variety of purposes.
-Researches account and transaction records to resolve basic discrepancies, answer questions, or provide documentation on client activities
-Works closely with other Bank Departments to maintain internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
-Ensures follow-up on all risk and compliance issues (such as Consumer Credit Risk, Know Your Client, Compliance requests, Risk Management requests, Internal Audit requests)
-Successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.
Anyone have any suggestions?
Thanks in advance!
I've had experience in PB/PWM at a Big 5 bank in Canada so I'll speak to that. There is a relationship manager with HNWI's, however they usually divide the duties of the Private Banker with the Investment Manager/Counselor/Adviser just because of the complexity of the client's needs. If you're looking at more family office, these jobs will be combined. Also, tell him to think about Vancouver, there's a lack of PWM professionals with knowledge and experience on Chinese HNWIs. If your friend can speak English and Cantonese and/or Mandarin, he'll find a job no problem. Also, the weather is nicer in Vancouver.
Wow this was pretty much what he was looking for, that's great! Thanks lordbendtner! His first choice is Vancouver(weathers nicer lol)
He does speak Cantonese, Mandarin and English. Any advice on where he should start looking or applying?
He doesn't mind dealing with Chinese clients if that's easier to get hired/get his foot in the door. Although he doesn't mind a more laid back/assistance role either.
Thanks
All of the Big 5 (6 if you include National) have their own HNW arm and a strong presence in cities. The top 2 in Canada by a country mile are RBC (7th largest in the world) and BMO (11th). These two also have a presence in China/Asia-Pacific Region, however RBC is significantly larger internationally.
Fair warning, pay is probably significantly lower in Canada than the US (esp with our money barely being worth the money its printed on) and if he can convince any clients to follow him that would be a HUGE plus. Even if your friend starts off as an assistant. With his language skill set he could very easily manage clients.
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