Product Developer – Russian Clients: Cyprus

NOTE: Only candidates with good knowledge of wealth management product development should apply.

OVERVIEW
A Wealth Management Product Developer is required by a major bank to focus on enhancing and creating quality western-style products for Russian/CIS clients across Europe. Based within an existing team in Limassol with key liaison between Cyprus, Moscow and London.

PURPOSE OF ROLE
• Based in Limassol (or possibly London), to analyse and articulate the bank’s current platform, ability, offering and value proposition as well as developing, managing and enhancing products and services in line with market demand
• Working in a joint team of product development managers
• Line/functional reporting locally and to London

RESPONSIBILITIES
• Analyse, articulate and provide advice on all aspects of the bank’s wealth management (WM) services and products
• Liaison with colleagues and advisors to determine needs and solutions to needs of existing and potential clients; mainly Russian/CIS European resident non-domiciled
• Work closely with Group Risk Management and Relationship Managers in relation to business acceptance processes and reassessing whether the risk/reward associated with such new products and services is appropriate
• Create and contribute to business plans for new products and services
• Ensure that all applicable regulatory requirements and internal guidelines are met
• Lead or assist, as applicable documentation on all new products and services
• Coordinate or assist, as applicable, in product and service development initiatives in other office locations
• Keep up to date with all new wealth management opportunities as well as key updates that may be relevant to existing and potential products and services
• Participate in activities and implement initiatives set out in the business development plan in order to increase and/or enhance its product and services base

KNOWLEDGE AND SKILLS TO BE DISPLAYED
• Degree in economics, business administration or law
• The ability to speak Russian (and have experience/knowledge of the Russian Federation and CIS regions) is a bonus although not essential
• Comprehensive experience in WM product development for high end WM clients
• Strong knowledge of wealth management products and service technology
o Knowledge of at least basic fiduciary services (i.e. trusts)
o Good understanding of financial products for WM clients on international financial markets, including (but not only) the Russian Federation and CIS
o Experience in elaboration of asset management products and structured products
o Experience in elaboration of cooperation schemes with subcontractors/external providers of WM services and strong relationship management skills with intermediaries
• Experience in dedicated classical banking products for WM clients
• Show strong structuring and analytical skills; ability to grasp issues at a strategic level
• Ability to work independently and result oriented

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