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.
• 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
• 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.
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.