Business Development Manager at a Microfinance Bank - TheHRHive

TheHRHive - Our client, a Microfinance Bank, is recruiting suitable candidates to fill the position below:

Job Title: Business Development Manager

Location: Lagos

Job Purpose

• The Business Development Manager (HNIs) is responsible for identifying, developing, and managing relationships with high-net-worth individuals (HNIs) to drive deposits, investment products, and other financial services. 
• The role is strategic and client-facing, aimed at growing the bank’s share of wallet among premium clients while providing personalized financial solutions tailored to their unique needs.

Key Responsibilities

• Identify and acquire new HNI clients through networking, referrals, industry events, and cold outreach.
• Develop deep, trusted relationships with existing HNI clients to understand their financial goals and enhance wallet share.
• Conduct periodic client reviews and financial health checks to ensure satisfaction and cross-sell relevant products.
• Drive the sale of financial products and services including savings/investment accounts, and wealth management services.
• Deliver on monthly, quarterly, and annual sales and revenue targets.
• Develop and execute personalized financial strategies for each HNI client based on their risk appetite and objectives.
• Monitor market trends, economic indicators, and competitor offerings to identify new opportunities and threats.
• Provide feedback to product and marketing teams on HNI client needs and emerging market demands.
• Contribute to the development of bespoke products and campaigns targeted at affluent individuals.
• Ensure all activities comply with regulatory and internal policies, including KYC/AML guidelines.
• Maintain proper documentation and reporting for all client engagements.
• Identify and mitigate risks in client onboarding and portfolio management.
• Mentor junior relationship officers or associates working on HNI accounts.
• Represent the bank in high-profile events and client engagement initiatives.

Key Performance Indicators (KPIs)

• Number of new HNI clients acquired
• Growth in HNI portfolio value (deposits, investments)
• Cross-sell ratio and client penetration metrics
• Client satisfaction and retention rates
• Compliance with KYC/AML and risk protocols.

Education & Experience

• Bachelor’s Degree in Finance, Business Administration, Economics or related field (Masters degree is an added advantage)
• Minimum of 5–7 years experience in business development, private banking, or wealth management, with proven success in dealing with HNIs.

Skills & Competencies:

• Strong sales and negotiation skills
• Excellent interpersonal and communication skills
• Deep understanding of financial products and investment vehicles
• High emotional intelligence and client service orientation
• Strong analytical and portfolio management skills
• Proficiency in CRM and financial analysis tools.

Preferred Personal Attributes:

• Discreet and trustworthy
• Proactive and self-driven
• Professional appearance and demeanor
• Strong networking and social engagement ability
• Results-oriented with a performance-driven mindset.

Remuneration

• N500,000- N700,000 monthly net, plus very attractive commissions.

Application Closing Date
2nd June, 2025.