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Retail Insurance Specialist

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Job Description

Job Description
Some careers open more doors than others.
If you're looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
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 INM WPB team.
Role Purpose
  • The ISV works in tandem with the Service Team (PSEs), MSF & Contact Centre manager and plays an instrumental role in fulfilling the protection needs of our customers by identifying and assessing clients needs and subsequent fulfilling them for WPB
  • ISV needs to adhere to the defined sales process for the channel and complete the validation calls on a recorded line
  • ISV will focus and work closely with the 3 referring channels on the non-traditional needs identified for the customers and adhere to the defined distribution sales process (as mentioned in the I&I Manual)

Principal Accountabilities
Impact on the business
  • Support frontline in improving client satisfaction, sales quality, deepening and building the client relationship with HSBC while ensuring we maintain a profitable scale
  • Provide internal technical consultancy in area of expertise surrounding protection needs identification and fulfillment capabilities and where and how products fit into overall portfolio's as defined by the Group
  • Use global wealth platforms for financial planning and other key client engagements
  • Drive market leading standards for conduct and controls in line with HSBC Values and expectations
  • Drive the growth agenda on Life & Retail Protection in the region by active engagement with the channels

Customers / Stakeholders
  • Action leads received from feeder channels and update outcomes in a timely manner
  • Maintain updated appointments calendar
  • Maintain clear logs for customer interaction on recorded lines
  • Join client calls or meetings with frontline in order to identify development opportunities.
  • Effectively use performance MIs, client feedback, and knowledge of top performers to drive the development of newly hired and core contributing
  • Facilitate in-person and/or remote coaching sessions in groups and/or one-to-one for area(s) of expertise

Operational effectiveness & control
  • Ensure all processes and procedures are accurate and in accordance with HSBC Bank policy standards and regulatory requirements
  • Comply with local regulations in all aspects of strategy, sales processes, product suitability, client correspondence, financial promotions, administration and complaint handling
  • Adhere to prescribed TAT for processing the documents to ensure seamless need fulfilment and customer experience.
  • Keep error rates to minimum and adhere to grids
  • Comply with the applicable laws, regulations, Group and local guidelines related to Sanctions and AML policy of HSBC while undertaking various day to day operations
  • Remain alert and promptly report to the Sanctions Officer/ INM FCC office/ Line manager ( As applicable and required by the AML and sanction Policy) if a customer is found to be engaging in sanction evasion activities or violations of AML 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 FCC AML Office/ AML Investigations by providing additional information when required
  • Responsible for attending and successfully completing the AML and Sanctions related assigned training in the mandated timeframe
  • Understanding the consequences of failing to attend or successfully complete the training as mandated by the AML Education Lead FCC
  • Requesting additional AML training that you deem necessary or appropriate to perform your jobs through your entity manager
  • Demonstrate an understanding of PEP acceptance, prohibition, CDD & EDD guidelines in order to ensure that the INM RBWM is fully compliant with the PEP LoBP.
  • 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 INM RBWM example Cash, insurance, credit cards products etc
  • Ensure Adherence to the regulatory guidelines and internal AML & Sanction Policy of HSBC, which includes pouch and mail, monetary instruments, cash services and payment transparency Line of Business Procedures
  • 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 an effective and polite manner

Major Challenges
  • Working in an environment that has lack of /limited automated sales MI and performance MI
  • Continuing change of regulatory environment
  • Ability to work with referring staff remotely
  • Ability to engage with customers and fulfill needs remotely

Role Context
  • Over the recent years, our business and organization has made considerable progress both in our performance versus peer group and in our strategic transformation. Over the medium term we have been improving both our profitability and our ability to meet the needs of our target clients. It is critical in the role of Wealth Coach to provide the right support infrastructure that enables RMs to increase their capability.
  • We have four overriding principles that will apply to the delivery of all propositions, products and services through all channels to all clients at all times:
    • We will treat all clients fairly
    • We will apply the HSBC Group values and business principles in all of our dealings with clients
    • We will meet, or exceed, all local and international laws, regulations, and codes of practice
    • We will deliver services to clients in a manner that provides speed, ease, certainty and empathy

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
  • Ascertain and fulfill protection needs of our customers
  • Delivering the firm - HSBC Values and Behaviors
  • Minimum Bachelor's degree / Graduation or as required for the role, whichever is higher.

Knowledge & Experience
  • Previous experience and proven record as Advance/Premier RM, Service Executive/Manager or equivalent in other leading financial institution
  • Detailed knowledge of global anti money laundering standards
  • Knowledge of relevant regulatory governance in market
  • Knowledge of local and Group compliance regulations (the latter to be attained if new to HSBC)
  • Proven ability to multi-task in a fast paced work environment and prioritize work assignments

  • Attain appropriate professional and regulatory qualifications as required by market
  • Attain any internal standards as required by country

Leadership capabilities
  • Have an understanding of the immediate regional Global Wealth Strategy and the ability to plan own activities accordingly
  • Ambitious about providing the highest standards of delivery to colleagues and clients
  • Demonstrate ability to set stretch goals for self and the ability to deliver these with courage and tenacity
  • Authentic and show ability to engage with colleagues and clients to deliver at pace
  • Make considered decisions that protect HSBC and our clients

Global Wealth Management capabilities
  • In depth knowledge of holistic Financial Planning Strategies
  • Detailed understanding of generic financial vehicles and the areas of client needs they address in a financial plan
  • Advanced levels of presentation skills using different platforms
  • Up to date knowledge of global economic outlooks
  • Able to demonstrate client centric goal related questioning techniques
  • A resilient change agent who can influence others
  • Experienced business manager with proven understanding of activity-based sales management

Additional Information
  • The health and safety of our employees and candidates is very important to us. Due to the current situation related to the Novel Coronavirus (COVID-19), we're leveraging our digital capabilities to ensure we can continue to recruit top talent at HSBC.
  • As your application progresses, you may be asked to use one of our digital tools to help you through your recruitment journey. If so, one of our Resourcing colleagues will explain how our video-interviewing technology will be used throughout the recruitment process and will be on hand to answer any questions you might have.

Diversity Statement, Data Protection and Entity Statement
  • As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.
  • We want everyone to be able to fulfil their potential which is why we provide a range of flexible working arrangements and family friendly policies.
  • Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

You'll achieve more when you join HSBC.
The Hongkong and Shanghai Banking Corporation Limited (HSBC) India

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