Business Development Manager

Delivering sustainable growth in the private banking segment, this role identifies and cultivates new client relationships while deepening existing ones to drive asset inflows and fee income. Through informed judgement and market analysis, it addresses client needs with tailored wealth solutions, ensuring alignment with regulatory and risk frameworks. By prioritising business opportunities and coordinating with product, compliance, and operations teams, the role advances the unit's commercial objectives and enhances the client experience.

Its outputs directly support the broader ambition of XBank KSA to strengthen its position as a trusted partner for high-net-worth individuals, while providing guidance and insight across the private banking unit.

Requires at least 5 years of experience in private banking or wealth management, with a proven track record in client acquisition, relationship management, and regulatory compliance within the banking sector.

Key Responsibilities

• Revenue growth from high-net-worth client acquisition and portfolio expansion
• Client retention and relationship deepening through proactive engagement
• Risk mitigation and regulatory compliance in client onboarding and transactions
• Market intelligence and competitor benchmarking to inform business development strategy

• Revenue growth from high-net-worth client acquisition and portfolio expansion

• Identify and target prospective high-net-worth individuals through market research, referrals, and industry networking to expand the client base.
• Develop tailored proposals and presentations that address complex wealth management needs, drawing on in-depth product knowledge.
• Collaborate with product specialists to structure bespoke investment and credit solutions that align with client objectives and risk appetite.
• Track and analyse portfolio performance, proactively identifying cross-sell opportunities to deepen wallet share.
• Maintain a robust pipeline of qualified prospects, ensuring consistent progress toward business development targets.

Performance Measures

• Growth in new-to-bank high-net-worth client relationships
• Increase in assets under management and fee-based income
• Quality and conversion rate of business development pipeline

• Client retention and relationship deepening through proactive engagement

• Conduct regular portfolio reviews with existing clients to assess satisfaction, evolving needs, and service gaps.
• Deliver timely market insights and product updates, positioning the bank as a trusted advisor.
• Coordinate with compliance and risk teams to ensure ongoing suitability and appropriateness of recommended solutions.
• Resolve client issues and feedback promptly, escalating complex matters to senior management where necessary.
• Organise exclusive client events and educational sessions to foster loyalty and enhance brand affinity.

Performance Measures

• Retention rate of high-net-worth clients
• Client satisfaction scores and qualitative feedback
• Depth of multi-product penetration within client portfolios

• Risk mitigation and regulatory compliance in client onboarding and transactions

• Oversee the end-to-end onboarding process, ensuring all KYC, CDD, and AML requirements are met in line with local and international standards.
• Review and validate client documentation for completeness and accuracy before account opening or transaction execution.
• Liaise with compliance and legal teams to address flagged issues or exceptions, ensuring timely resolution.
• Educate clients on regulatory obligations and the bank's policies to foster transparency and trust.
• Monitor ongoing client activity for unusual patterns, escalating potential risks as per policy.

Performance Measures

• Absence of regulatory breaches or onboarding-related audit findings
• Timeliness and accuracy of KYC and documentation processes
• Stakeholder confidence in risk controls and compliance culture

• Market intelligence and competitor benchmarking to inform business development strategy

• Gather and synthesise market data on emerging trends, competitor offerings, and client preferences within the private banking sector.
• Analyse competitor pricing, product innovation, and service models to identify differentiation opportunities.
• Share actionable insights with the private banking team to refine value propositions and go-to-market tactics.
• Contribute to the development of targeted campaigns and initiatives based on market intelligence.
• Maintain an up-to-date knowledge base of regulatory changes impacting private banking in KSA.

Performance Measures

• Relevance and timeliness of market insights provided to the team
• Impact of intelligence on business development outcomes
• Responsiveness to shifts in competitor and regulatory landscape
• Bachelor's degree in Finance, Business Administration, or related field
• CFA, CWM, or equivalent wealth management certification preferred
• Ongoing professional development in regulatory and digital banking trends