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Stakeholders Management often is summarized as “engaging the right people with the right approach.” It is the strategy of engaging, developing and managing the relationships that will impact any corporate initiative you may wish to implement. Among the strategies of stakeholder management lies the skills of networking. Very much like segmentation strategies in PB, stakeholders, internal and external, can be identified as drivers, supporters, observers or opposers to any corporate initiatives.

In PB, we network with internal stakeholders to gain support so as to smoothen and strengthen working processes or better problem solve. Externally, we network to deepen partnerships, client-banker trust and gain referrals for further expansion.

The session is designed on the key principles and strategies of stakeholder management both internally and externally with an emphasis on how to network successfully. Participants will learn to identify and categorize the various stakeholders in any project roll out of new initiatives by the organization. Discussion include practical and strategic steps for building a trust-filled network to enhance business continuity and expansion.

Target Audience

  • Relationship Managers in Private Banking
  • Assistant Relationship Managers in Private Banking
  • Trade/Product Specialists who would require to assist in client-facing advisory services or presentations
  • Operations functions in Private Banking
  • Covered persons under Private Banking Code of Conduct who may be interested

Course Objectives

  • Assess organisation's relationships with relevant stakeholders to understand rationale and focus of programmes and activities to enhance stakeholder relationships
  • Identify, perform and evaluate own role in programmes and activities to enhance stakeholder relationships to support organisational strategies
  • Manage working level relationships with peer stakeholders to support programmes and activities to enhance stakeholder relationships
  • Evaluate effectiveness of programmes and activities in accordance with key performance indicators
  • Take necessary follow-up actions to maintain stakeholder relationships

Course Outline

Part 1: Building Successful Stakeholders’ Relationship & Organizational Success:

  • Role of Stakeholder Management in Private Banking
    • Purpose of Stakeholder Management and how it contributes to Organizational Success.
    • Identifying the groups/levels of Stakeholders’ issues in the Organization (PB)
    • 5 key objectives of Stakeholders’ management.
      • Contextualization in Private Banking
  • The various phases of Stakeholders’ Engagement strategy in Private Bank
    • Positioning networking with internal stakeholders in a Private Bank
    • Positioning networking with external clients of the Private Bank

Part 2: Developing a Strategy in Stakeholders’ Engagement

  • Networking – Developing the skills for Stakeholders’ Management
    • Elevating Personal competency in Networking
      • Developing a Networking Mindset
        • How to adequately prepare oneself for Networking
        • Key rules of Networking
        • Handling the situations in Networking
        • How to prepare your negotiation skills for Networking
      • How is Networking and Client-Acquisition in PB linked?
        • Developing a Target Market in Networking
        • The Engagement Strategies online and offline – generating the right referrals.
        • Vertical expansion as a key strategy

Part 3: Building a Networking System in your PB career and Team

  • Identifying and contributing to events/programs useful for networking for PB
    • Defining objectives and KPIs for the set events, programmers and campaigns in PB
      • How to effectively select, support and participate in invited or pre-planned events and programs.
      • Differentiating between hard contact events and soft contact events
      • A Four-Steps operational approach to implementing a Networking System
        • Preparation and Conditioning
        • Communication and Engagement
        • Follow Up
        • Effecting a 90 days results
    • Identifying legal, regulatory, ethical and socio-cultural constraints applicable to Private Banking in Networking.
      • Case Study: Building legitimacy through standards and benchmarks – setting out a right network system.

Assessment - MCQ

About IBF Certification

This course addresses the following Technical Skills and Competencies (TSCs) and Proficiency Level (PL):

  • Networking (Level 4)

Participants are encouraged to access the IBF MySkills Portfolio to track their training progress and skills acquisition against the Skills Framework for Financial Services. You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.

Find out more about IBF certification and the application process on