Financial Advisor (Wealth Manager) Position in Dubai

Job Description:

This position is often with financial services companies. In many cases, these job titles are for several vacancies because the financial services industry in the Middle East is targeting the young professionals who man workforce. Especially in Dubai where the workforce is largely foreign, companies do not, as a rule, offer 401Ks and retirement plans. Financial Advisors’ jobs in Dubai are basically that – helping the working population with their personal financial goals and creating personal wealth.

Duties:

• Business Development. Financial advisors are responsible for account origination, whether that be loan or investments. This type of business development does not involve cold selling as there will be no pushing for any services. Advisors basically explain client options under specific circumstances, and may, in most cases, give an opinion as to the best option.

• Communication and Coordination. As clients make their financial and investment decisions, the financial advisor make sure client instructions are carried out effectively. They coordinate with brokers and communicate client loan and or investment decisions, monitor market conditions and communicate these with clients.

• Trend Monitoring. Financial advisers work closely with various market elements. As such they play a vital role in monitoring the market and play large roles in the financial decisions of their clients. Banks and financial services companies rely on their team of financial advisors to define organizational goals in strategic planning sessions

Qualifications:

• Education – Financial Advisors in Dubai are required to at least have a Bachelor’s degree – a Master’s if they’re screening for a senior position – in a finance-related field, e.g. Banking and Finance, Accounting, Finance Management). In specific industries, such as the mortgage industry, there may also be specific additional educational requirements pertaining to state laws and regulations and industry practices.

• Technical Requirements. – Unlike Wall Street, this position in the Dubai job market does not necessarily require special licenses, although professional licenses such as a CPA (US) or a chartered accountants (UK) professional license is a definite advantage. Experience in the financial services, banking, mortgage and other related industries are a key factor in this position.

• Other Requirements. – Familiarity with accounting and investment systems is a given. Experience in the customer service industry is an excellent advantage.

Salary Range:

AED 5,000-25,000

Employers’ Description:

Banks and other financial institutions in the financial services industry build a team of professionals with varying degrees of talent, expertise and experience to suit the range of client needs they attend to. These companies serve the entire spectrum of the market from middle class expats to wealthy UAE nationals to domestic and foreign businesses.

Relationship Manager (Client Relationship Manager) Position in Dubai

Job Description:

Client relationship management requires excellent people skills, on top of familiarity with the banking and financial services industry. The job is basically fostering and maintaining a solid business relationship with commercial businesses and individuals with very high net worth. This also requires a high degree of adaptability, willingness to do research and understand the peculiar needs of clients in short amounts of time.

Duties:

Client Management. Client Relationship Mangers are charged with developing and fostering long-term relationships with the bank’s existing commercial and individual clients. They’re the point person for specific client accounts, working closely with clients’ account managers, finance directors and financial decision-makers. This function generally calls for making sure client demands are met.

Account Management. CRMs manage and expand client portfolios, making sure the clients’ needs are met and attended to right away. The goal in this function is mainly to help the bank’s senior managers supervise client activities as they generate more income for both the client’s and the bank’s accounts, balancing the risk-return trade-off, as the client uses more of the bank’s services. Also, Relationship Managers provide expert support to self-trading clients.

Internal Administrative Functions. CRMs collaborate with other branches to analyze and assess client business practices and participate in planning customized client services. This function serves the bank more as it gears toward providing a total range of services to meet the demands and needs of their biggest clients.

Qualifications:

Education – CRMs are required to have at least a Bachelor’s degree relating to business management, but preferably in the Finance and Accounting fields. This educational requirement is a must as the banking and financial services industry is a highly-specialized field; education is a primary requirement for understanding the industry.

Technical skills – Basic MS Office applications is a given. Experience with finance software and database is an excellent advantage. Those with experience in the Customer Service industry will also have a huge advantage.

Other Requirements – Aside from being tech savvy and intelligent, CRMs are flexible individuals who are highly adaptive and possess excellent communications skills. They’re caring professionals who are patient and go through the extra mile to explain a client’s options and guide them through the intricacies of financial decision-making.

Salary Range:

AED 4,000-20,000 monthly, the range due to varying levels of experience and competence.

Employers’ Description:

Both banks and financial services companies have a team of relationship managers to develop further business with existing clients. In the Dubai job market, this position is often thought of as part of their sales team. Often, CRMs are out in client premises, effectively bringing the bank and its services right at the client’s doorstep. This position is often created to provide total convenience to clients.