Judging Process
Click here to download a printable version of the Judging Process for the Australian Private Banking Awards.
NOMINATION PROCESS FOR EACH AWARD
The following criteria apply for all award categories:
All submission close on Friday 23rd March 2012
- Finalists will be announced on Monday 30th April 2012
- All runners-up and finalists will be announced at the Australian Private Banking Awards dinner being held on the evening of Thursday 14th June 2012.
- Further information on each award is outlined in the Award Categories.
Specific criteria for each award is outlined following:
- Outstanding Institution $1M-$10M Award nomination process
- Outstanding Institution $10M-$30M Award nomination process
Both these awards will be based on a combination of the opinions of the judging panel based on the submissions received from the nominating institution and the subsequent interviews of all short-listed institutions and two HNW surveys.
JUDGES RANKING
Private Banks will be invited to nominate themselves for the award categories. The closing deadline for submission of nominations is the 23rd March 2012. The judging panel will then review the nominations submitted by the private banks in conjunction with the HNW scores. Each judge will submit his/her short-list of five institutions for each category based on the following criteria:
- Private bank with the best banking and investment expertise (10 points)
- Private bank with the best client relationship skills (10 points)
- Private bank with the best overall service levels (10 points)
- Private bank with ability to most tailor service to meet HNW individual needs (10 points)
Based on the submission ranking the finalists will be announced on 30th April 2012 and be invited to an interview with the judges on 16th May who then have the ability to confirm/change their initial submission score.
Total possible judging panel points = 40 points
HNWS SURVEY
The definition of HNW that the APBC uses is: A$1million in investible assets excluding any form of property. Over the course of 2010 and 2011 HNWs were interviewed and asked a series of questions concerning their main private banking or private wealth relationship. In order to ensure that the viewpoint of the HNWs is not subject to a point in time where market movements and spikes might affect their opinion these interviews were conducted in September 2011 and March 2012. Examples of some of the questions asked are:
1. How satisfied are you with your private bank? Scale of 1-7
2. To what extent do you agree that your private bank
a) Understands your financial needs
b) Is able to cater for your financial needs
c) Provides the advice you need
d) Is proactive with ideas
e) Values your business
f) Handles complaints effectively
3. How satisfied are you with the following aspects of your private bank? Please rate each from 1-5, where 1 is very unsatisfied and 5 is very satisfied.
a) The level of service received
b) Having a dedicated point of contact (relationship manager)
c) The pricing of the products and services
d) The range of products and services offered
e) The fact that the private bank screens the products and services for the most applicable ones
f) Access to specialist advisors
g) The investment returns
h) Understanding your financial needs
i) Proactively anticipating your needs
4. How satisfied are you with the service provided by your relationship manager at your private bank? Scale of 1-7
Based on the opinions of HNW individuals, each private bank/wealth manager will receive an overall score.
Total possible HNW view score = 60 points
3. Outstanding Institution UHNW Offering $30M+ Award nomination process
This award will be based solely on the opinions of the judging panel based on the submissions received from the nominating institution and the subsequent interviews of all short-listed institutions.
JUDGES RANKING
The judging panel will review the nominations submitted by the private banks in this category. Each judge will submit their short-list of 5 institutions for each category based on the following criteria:
- Institution with the best banking and investment expertise (20 points)
- Institution with the best client relationship skills (20 points)
- Institution with the best overall service levels (20 points)
- Institution with the best advisory services (20 points)
- Institution with ability to most tailor service to meet HNW individual needs (20 points)
Based on the submission ranking the finalists will be announced on 30th April 2012 and be invited to an interview with the judges on 16th May who then have the ability to confirm/change their initial submission score.
Total possible judging panel points = 100
4. Outstanding Industry Thought Leader nomination process
This award will be based solely on the opinions of the judging panel based on the submissions received from the nominating individuals or their representative and the subsequent interviews of all short-listed individuals.
Each private bank has been invited to nominate anyone for this category. Each private bank can nominate only one individual in this category.
JUDGES RANKING
Nominees or the person nominating them will be asked to complete a short document explaining why they should win the award. Further details of requirements are outlined in the Award Categories. Based on the submission, the judging panel will decide on the top 5 nominees, scoring them across a range of criteria such as:
- Contribution to the Australian Private Banking Industry (50 points)
- Role in developing their business as a client-centric organisation (50 points)
Based on the submission ranking the finalists will be announced on 30th April 2012 and be invited to a telephone interview with a senior representative of the Australian Private Banking Council on 15th May 2012.
Total possible judging panel points = 100
5. Relationship Manager Award nomination process
6. Outstanding New Relationship Manager (<2 years working in private banking) Award nomination process
7. Outstanding Wealth/Investment Advisor Award nomination process
8. Outstanding New Wealth/Investment Advisor (<2 years working in private banking) Award nomination
process
Each award will be based solely on the opinions of the judging panel based on the submissions received from the nominating individuals or their representative and the subsequent interviews of all short-listed individuals.
Each private bank has been invited to nominate anyone for this category. Each private bank can nominate only one individual in this category.
JUDGES RANKING
Nominees or the person nominating them will be asked to complete a short document explaining why they should win the award. Further details of requirements are outlined in the Award Categories. Based on the submission, the judging panel will decide on the top 5 nominees, scoring them across a range of criteria such as:
- Courtesy and professionalism (25 points)
- Ability to assess client needs (25 points)
- Level of knowledge (25 points)
- Ability to package and deliver tailored solutions (25 points)
Based on the submission ranking the finalists will be announced on 30th April 2012 and be invited to an interview with the judges on 16th May who then have the ability to confirm/change their initial submission score.
Total possible judging panel points for each award = 100
9. Outstanding Philanthropic Services Award nomination process
This award will be based solely on the opinions of the judging panel based on the submissions received from the nominating institution and the subsequent interviews of all short-listed institutions.
JUDGES RANKING
The judging panel will review the nominations submitted by the private banks in this category. Each judge will submit their short-list of 5 institutions for each category based on the following criteria:
- Institution with the best philanthropic capabilities (33.3 points)
- Institution with the best overall service proposition (33.3 points)
- Institution with ability to most tailor service to meet HNW individual needs (33.3 points)
Based on the submission ranking the finalists will be announced on 30th April 2012 and be invited to an interview with the judges on 16th May who then have the ability to confirm/change their initial submission score.
Total possible judging panel points = 100
10. Outstanding Associate Award nomination process
Each award will be based solely on the opinions of the judging panel based on the submissions received from the nominating individuals or their representative. No interviews will take place for this Award.
Each private bank has been invited to nominate anyone for this category. Each private bank can nominate only one individual in this category.
JUDGES RANKING
Nominees or the person nominating them will be asked to complete a short document explaining why they should win the award. Further details of requirements are outlined in the Award Categories. Based on the submission, the judging panel will decide on the top 5 nominees, scoring them across a range of criteria such as:
- Courtesy and professionalism (25 points)
- Ability to meet the needs of the private banking/wealth management team in your organisation (25 points)
- Level of knowledge (25 points)
- Demonstrative ability within the team in which the individual works (25 points)
Based on the submission ranking the finalists will be announced on 30th April 2012 and the winner announced at the Awards Gala Dinner on 14th June 2012.
Total possible judging panel points for each award = 100
11. Outstanding Analyst Award nomination process
Each award will be based solely on the opinions of the judging panel based on the submissions received.
Each private bank has been invited to nominate anyone for this category.
Each private bank can nominate only one individual in this category.
JUDGES RANKING
Nominees or the person nominating them will be asked to complete a short document explaining why they should win the award. Further details of requirements are outlined in the Award Categories. Based on the submission, the judging panel will decide on the top 5 nominees, scoring them across a range of criteria such as:
- Courtesy and professionalism (25 points)
- Ability to meet the needs of the private banking/wealth management team in your organisation (25 points)
- Level of knowledge (25 points)
- Demonstrative ability within the team in which the individual works (25 points)
Based on the submission ranking the finalists will be announced on 30th April 2012 and the winner announced at the Awards Gala Dinner on 14th June 2012.
Total possible judging panel points for each award = 100
