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Wealth and Personal Banking (WPB) is our new global business combining Retail Banking and Wealth Management; and Global Private Banking, to become one of the world’s largest global wealth managers with USD1.4 trillion in assets. Across Asia, where wealth pools are growing faster than in any other region, HSBC’s wealth revenues grew 12% in 2019 (year-on-year) to USD5.7 billion. Our dedicated colleagues serve millions of customers worldwide across the entire spectrum of private wealth, ranging from personal banking individuals and families, through to business owners, investors and ultra-high-net-worth individuals. We provide products and services such as bank accounts, credit cards, personal loans and mortgages, as well as asset management, insurance, wealth management and private banking that best suit our customers’ needs.
We are currently seeking an experienced professional to join the WPB team.
Role Purpose
The PRM & SPRM role are client facing roles. Playing a integral part of HSBC RBWM flagship offering of ‘’Premier Banking’’ To grow and nurture HSBC Premier relationships (High Networth Individual) segment of the Personal Banking customer base) and achieve business targets as laid down and in accordance with the business plan To facilitate a single point of contact for all Premier customers, anticipate needs and provide required banking/financial advisory services. The jobholder to ensure that high quality customer service is provided to customers in line with Global Premier Service Standards. The identification of opportunities for wealth reviews and delivering wealth solutions as an adviser are amongst the key activities to achieve your goals as complied with local regulatory requirement.
All this needs to be achieved by keeping the highest standards of integrity towards the bank and clients and the regulatory requirements.
Principal Accountabilities
Impact on the Business / Function
- Maximize profit and achievement of the growth of Premier clients portfolio
- Achieve agreed financial targets by development of existing and new relationships
- Build effective relationships with clients to retain and develop sustainable relationships
- Complete regular reviews with clients to understand their current and long term needs and advise them on the products and services that help them achieve their goals
- Effective use of tools and information to drive client service delivery and performance
- Maintain a minimum standard of qualifying Premier clients within portfolio as stated by Group
- Build a high personal and corporate profile in the community in which you are based. Develop network of Group and External professional contacts with the aim of introducing new business, enhancing technical knowledge and promoting the brand
- Monitor and act on daily sales activity management information and other internal information tools, using them to coach the wider Branch team in support of business goals
- Establish and agree client contact strategies in line with Group operating models
- Fully utilize and input to Client Relationship Management data, ensuring all client information is complete and kept up to date
- Demonstrate excellent understanding of client needs, recommend appropriate products and services, and achieve closure of sales
Customers / Stakeholders
- Own the client relationship with HSBC
- Maintain a deep understanding and technical knowledge of relevant products and services available from Group sources and elsewhere in order to provide the best solutions for clients and maximize revenues for Global Wealth and the Group
- Maintain highest standard of excellence in client service across the team and with individual portfolio - Ongoing analysis of client portfolios through marketing of ideas and researching clients
- Monitor client satisfaction data implementing portfolio level improvements
- Work with the broader branch, support and direct teams to ensure achievement of the business performance measures by delivering differentiated products and services to the client
Leadership & Teamwork
- To work as part of an integrated branch management team to ensure, standards and are met and operating models delivered
- Proactively support others through direct and indirect actions beyond activities particular to this role
- Collaborate with the wider team to deliver the Branch Performance measures and plan to support the multi-channel client journey
- Establish and maintain strong working relationships with colleagues in the wider businesses and others as appropriate to service client needs
Operational Effectiveness & Control
- Ensuring that sales & operations are undertaken in accordance with HSBC Bank and Credit Policy Manual appropriate lending guidelines
- Agree and manage lending facilities within any agreed Approval Authority
- Manage operational risk, by using relevant data to identify risk situations and take any appropriate action to minimize loss
- Adhere to selling process and sales quality requirements
- Comply with the applicable laws, regulations, Group and local guidelines related to Sanctions and Anti-Money Laundering policy of HSBC while undertaking various day to day operations
- Remain alert and promptly report to the Sanctions Officer/ Line manager ( As applicable and required by the Anti Money Laundering and sanction Policy) if a customer is found to be engaging in sanction evasion activities or violations of policy or any other related procedures.
- Understand the legal responsibility to be vigilant for unusual activity and reporting of the unusual activities
- Support the Country or Regional Offices / Investigations by providing additional information when required
- Responsible for attending and successfully completing the Sanctions related assigned training in the mandated timeframe
- Understanding the consequences of failing to attend or successfully complete the training as mandated
- Requesting additional training that you deem necessary or appropriate to perform your jobs through your entity manager
- Demonstrate an understanding of Politically Exposed People acceptance, prohibition, guidelines in order to ensure that is fully compliant
- Understand the relatively high reputational risk that arises from any perceived weaknesses in controls in respect of substantial cash deposits or withdrawals activity, wire transfer, monetary instruments and pouch and mail
- To be aware and Identify high risk indicators for various products and Services offered by example Cash, insurance, credit cards products etc
- Ensure that all records are obtained in respect of customers or New to bank customer for any products and services provided by HSBC are as per the process laid down.
- Must ensure that the prescribed process is being followed while dealing with non HSBC customers request for monetary instruments and wire transfers
- Ensure Adherence to the regulatory guidelines and internal policy of HSBC, which includes pouch and mail, monetary instruments, cash services and payment transparency Line of Business Procedures
- To be aware of AML risk posed by pouch and mail, Monetary instruments, cash services and wire transfer services and should undergo the mandatory training for the same
- Necessary remediation steps needs to be undertaken in case if there is any breach or non-adherence to the policy laid down
- Must undertake necessary due diligence to ensure that the nature of the transaction is in sync with the customer profile , else raise it to line manager for further clarification
- The staff must be aware of the scope of services of various products and services that are offered and those which are prohibited because of the guidelines laid down in the line of Business procedures and must ensure the same is communicated to customer in a effective and polite manner
- Ensure adequate due diligence is undertaken by the Individual/team to ensure that the nature of the various transactions of wire transfer, cash services, monetary instruments are in sync with customer profile
Major Challenges
The bank seeks to grow business through an efficient operation and the pursuit of providing clients with globally consistent experiences, excellent service, cross selling products and services appropriate to client needs in order to enhance that value. In the face of fierce competition in this segment the bank is seeking to grow the significance of this group in their contribution to our business.
The Premier segment typically comprises clients with Total Relationship Balances of 25lakhs or more.
We should also recognize our responsibility to the community in which we operate and improve the bank’s profile within those communities building economic value for the bank and its shareholders.
The range of competitors and products has established an increased financial awareness in clients, creating demand for increased experience and skill at PRM level.
A Premier Relationship Manager requires the following key attributes:
- Excellent sales and people management skills
- Client driven with a strong focus on quality of service
- Strong interpersonal communication skills
- A strong sense of ownership, responsibility and accountability
- An excellent understanding of financial planning, wealth management and understanding client need
The jobholder forms an integral part of the wider HSBC management team. As part of this wider team the jobholder is expected to identify opportunities in their day to day activities that directly or indirectly contribute to the success of colleagues with differing responsibilities, particularly in other areas of HSBC such as Commercial and Private Bank.
Role Context
The jobholder will own and manage a portfolio of clients with Total Relationship balance of 25 lacs or more
The jobholder has prime responsibility for:
- Maximizing growth in their portfolio and achieving the plan/metrics
- Leading Premier activities to ensure opportunities are identified and client needs are met effectively, maximizing all available resources.
- Compliance with the relevant Group standards including regulatory organization as applied to the implementation of the strategy in their country
Jobholder will hold Lending Approval authorities appropriate to their role.
The job holder operates within the approved operating and strategic plan process to develop the business.
Management of Risk
- Adheres to processes and controls to identify and mitigate risks and ensures timely escalation of control issues and reputation risks.
Observation of Internal Controls
- Maintains HSBC internal control standards and addresses audit points and/or any issues raised by regulators in a timely manner.
Role Dimensions
- Portfolio Size of Total Relationship Value of 25 lakhs or more per customer
- Portfolio Size of Premier clients or number of relationships as dictated by market requirements
- Growth in Income, balances, clients volumes, number of clients, etc..
Qualifications - External
Knowledge & Experience
- Bachelor's degree with relevant experience
- Minimum of 5-8 years of Relationship management work experience with high net worth clients.
- Evidence of strong sales results in insurance and investment products
- Relationship management experience with high net worth clients
- Strong technical skills in wealth management
- Strong communication, client focus and influencing skills
- Strong sales orientation, networking and portfolio management skills
- Sound knowledge of financial services products and services and the client relationship management system
- Understanding of business banking client segment and products and services
- Local regulatory & license requirements - job holder should possess valid licenses with accreditation on wealth management and qualification as required by country
- Clear view on how to work with Compliance, Credit & Risk and Internal Control to ensure a balanced risk operating environment
- Able to communicate well in English and local languages
Accreditations
- IRDA (Insurance Regulatory and Development Authority) and AMFI (Association of Mutual Funds) certifications are mandatory
Leadership Capabilities
- Have an understanding of the immediate regional Global Wealth strategy and the ability to plan own activities accordingly
- Be ambitious about providing the highest standards of delivery to colleagues and clients
- Show ability to set stretch goals for self and the ability to deliver these with courage and tenacity
- Be authentic and show ability to engage with colleagues and clients to deliver at pace
- Make considered decisions that protect HSBC & Global Wealth values, reputation and businesses
Global Wealth Management - Relationship Manager Technical Capabilities
Technical Capabilities
Client Skills
- Client focus
- Sales orientation
- Portfolio management
- Communicating & influencing
Business Acumen
- Marketplace knowledge
- Business understanding
Solutions
- Premier products and services
- HSBC services and propositions
Processes
- Risk and compliance
- Business processes
- Tools and systems
Pro-tip : Familiarity with AI-enabled tools is an advantage.
- Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.
As an employee, you are required to perform your duties in a professional capacity exercising independent judgement, discretion and decision-making authority in planning, organising, directing work, supervising and appraising the work of team members, as applicable; and taking accountability for delivery outcomes. You will represent the organization with relevant internal and external stakeholders. You will allocate and prioritize work, provide direction and feedback, manage team capacity and leave in line with policy as applicable.
You’ll achieve more at HSBC.
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