Cantor Fitzgerald Ireland is part of leading global financial services firm Cantor Fitzgerald. Cantor Fitzgerald has offices and trading desks in all major financial service centres throughout the world. We specialise in equities, Investment Banking, Real Estate, Fixed Income and Currencies. Cantor Fitzgerald’s affiliate businesses include: BGC Group Inc. (BGC), Newmark (NMRK), and GFI Group (GFI). Cantor Fitzgerald Ireland provides a full suite of investment services, primarily wealth management, fund management, debt capital markets and corporate finance. An exciting opportunity has arisen for a Head of Retail Sales to work with our team in Dublin.
The Head of Retail Sales (PCF-17) is responsible for managing and overseeing the retail sales operations of the firm, ensuring that all activities related to the distribution of financial products and services to retail clients comply with MiFID II regulations and the directives of the Central Bank of Ireland. The Head of Retail Sales is also responsible for driving and managing the development of technology within but not limited to the retail side of the business.
1. Compliance and Regulatory Oversight:
- Ensure adherence to MiFID II regulations, the Central Bank of Ireland’s guidelines, and other relevant financial services regulations pertaining to the distribution of financial products to retail clients.
- Monitor changes in regulatory requirements and proactively implement necessary adjustments to sales processes and practices.
2. Sales Strategy and Performance:
- Develop and execute a comprehensive retail sales strategy aligned with the firm’s business objectives, ensuring appropriate targeting of retail clients and products.
- Set sales targets, monitor performance metrics, and provide guidance to the sales team to achieve revenue and growth objectives.
3. Risk Management and Due Diligence:
- Conduct ongoing risk assessments of retail sales activities, identifying potential risks and implementing measures to mitigate them.
- Ensure appropriate due diligence is conducted on financial products and services before their distribution to retail clients.
4. Product Suitability and Appropriateness:
- Ensure that products and services recommended to retail clients are suitable and appropriate based on their financial situation, risk tolerance, and investment objectives.
- Implement processes and controls to assess and document the suitability of recommendations.
5. Sales Training and Development:
- Provide training and development opportunities for the retail sales team, ensuring they have a strong understanding of MiFID II regulations, products, and ethical selling practices.
- Promote a culture of ethical behaviour and customer-centricity within the sales team.
6. Client Communication and Transparency:
- Ensure clear and transparent communication with retail clients regarding product features, risks, costs, and potential returns.
- Oversee the preparation and delivery of appropriate client disclosures and documentation.
7. Complaints Handling:
- Oversee the resolution of client complaints related to retail sales activities, ensuring timely and fair resolution in accordance with regulatory standards.
8. Record Keeping and Reporting:
- Maintain accurate and up-to-date records of retail sales activities, ensuring compliance with record-keeping requirements specified by regulatory authorities.
- Prepare and submit required reports to the Central Bank of Ireland and other relevant regulatory bodies.
9. People Management:
- Oversee the recruitment and selection process for including but not limited to retail sales teams.
- Conduct performance evaluations including tracking qualitative & quantitative metrics.
- Identify and address areas for training and development.
- Must meet Minimum Competency requirements under the Central Bank’s requirements by holding relevant qualification – APA (Savings & Investments), QFA or Registered Stockbroker (APA).
- Extensive experience in retail sales within the financial services sector, preferably in a MiFID regulated environment.
- Strong knowledge of MiFID II regulations, Central Bank of Ireland guidelines, and other relevant regulatory frameworks.
- Demonstrated leadership skills and the ability to effectively manage and motivate a sales team.
- Excellent communication, interpersonal, and negotiation skills.
- Sound understanding of investment products, financial markets, and risk management.
- Proven track record of achieving sales targets and driving business growth.
- Relevant qualifications or certifications in finance, investment, or sales management are a plus.
This role is a PCF-17 and CF-7 under the Central Bank’s Fitness & Probity Standards.
PCF-17 – Head of Retail Sales
CF-7 – Management or supervision of those persons undertaking CF3 to CF6 roles
Any successful applicant will be subject to Pre-Approval by the Central Bank of Ireland before commencement of employment.