Vice President - Portfolio Counsellor, WPB India

Vice President - Portfolio Counsellor, WPB India

8-11 years
Not Specified

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 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.
Job Introduction
  • The Premier proposition is a strategic priority for HSBC and the role of Product Expert (PE) is a key contributor in achieving the proposition objectives. The role is a specialist role and is part of the Premier and Wealth sales force. The incumbent is expected to be a technical expert in one or several product categories as relevant to market such as Structured Products/FX/Investment/Trusts/Estate planning /Retirement/Protection/Mortgage etc.
  • PE is usually deployed to add value to clients with more complex needs, e.g. top-tier and mid-tier Premier clients and is assigned to a team of Premier Relationship Managers/Top Tier relationship Managers (PRMs/TTRM's).Whilst PRMs/TTRM's own the end-to-end advisory and sales process with clients, PE assists PRMs/TTRM's in understanding clients better, meeting clients together with PRMs/TTRM's when required, making suitable recommendations and helping clients understand the value and risks of solutions available to them.
  • At times the PE may also conduct product training to support and deliver new product launches and lead client education events to help client gain better knowledge of financial markets and financial solutions. PE also needs to follow the needs-based sales process, giving clients a meaningful and consistent wealth experience and ultimately providing an outstanding client experience.
  • The jobholder is expected to support PRMs/TTRM's to gain more client trust and commitment in broadening and deepening their relationship with HSBC.
    • The role of a Investment Counsellor (IC) is that of a Product Expert (PE) on investments and is required to provide financial analysis and investment advice to customer with Funds under management of greater than INR 5M

Principal Responsibilities
Impact on the Business/Function
  • Strengthen HSBC's image as a leading wealth provider by providing clients with access to advanced technical product expertise.
  • Support PRMs to gain more clients confidence and trust in HSBC capabilities and increase the effectiveness and quality of needs fulfilled for target clients in need.
  • Assist PRMs in deepening and growing client relationships through identifying and uncovering client's needs, identifying relevant wealth solution and technical analysis, and assisting PRMs in presenting and explaining solution(s) to client.
  • Conduct portfolio reviews with PRMs, assess product suitability and market and regulatory change impact to products held by clients as appropriate, identify opportunities and manage risks.
  • Join PRMs/TTRM's in meeting clients and provide advice, input based on technical knowledge while acting as a second point of contact to PRMs/TTRM's for specific products and solutions
  • Improve PRMs/TTRM's product specific technical knowledge by effective on-job coaching and training.
  • Ring-fencing of Premier customers
  • FUM growth
  • IC to analyze portfolio of 35-40 customers every month and engage with them to provide advice based on sound investment expertise.

Customers / Stakeholders
  • Communicate effectively with clients on complex technical subjects, helping them to improve understanding of financial markets and the value and risks of financial solutions through educational events.
  • Initiate and conduct educational events with clients to improve clients financial literacy and knowledge of financial markets and solutions.
  • Continue to develop and sharpen technical expertise, working closely with the Wealth Development team and product manufacturers e.g. AMG, HSBC Insurance, and third party product partners to help improve client satisfaction and outcome.
  • Identify and provide feedback from PRMs/TTRM's and clients to product teams in order to continuously improve our products and services.
  • Collect and apply market and channel intelligence to identify and share competitive gaps, service issues, business opportunities, and challenges with stakeholders.
  • Work with PRMs/TTRM's to follow through execution of the product contract presented to clients where technical expertise is required.
  • Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
  • Strengthening and deepening of customer relationships so that we are seen as the customer's first choice for resolution to their wealth management needs
  • Ensure that the SFP is correctly offered to customers where appropriate
  • To continually consider the principle of ‘Treating Customers Fairly (TCF)
  • Ensure proactive and timely update to customers on specific customer portfolio movement with appropriate advice
  • Implementation of a regular customer contact program using RMP.

Leadership & Teamwork
  • Proactively work with a team of PRMs/TTRM's to provide client centric services and solutions
  • Strong team player that deploys time strategically and commercially in order to support the team of PRMs/TTRM's that they are assigned to
  • Work with Head of Wealth Sales to provide front line perspective and input to Country CVM, Wealth Development team, HSBC Insurance, AMG, and Global Markets on the planning and development of products, associated processes, and tools where relevant
  • Assist in the launch of complex products where appropriate
  • Act as an ambassador for HSBC and exhibits high professional standards
  • Partner with Sales Managers to identify and manage product specific needs and risks in the portfolios of PRMs/TTRM's
  • Delivering the firm - Put the client at the heart of our business and deliver joined up services and solutions aligned to client needs.
  • As for Specialist Individual Contributor, but in a leadership role e.g. is a highly specialised resource/ manages a complex technology.
  • Support achievement of the HSBC vision, Values, goals and culture in personal behaviour, actions and decision making.
  • Provide technical leadership and support technical excellence by searching out external best practice, monitoring technical and professional developments, sharing knowledge and encouraging others to do the same in the best interests of HSBC and its customers.
  • Encourage and enable constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and challenging actions and behaviours that are not consistent with HSBC's diversity policy and/or the best interests of the business and its customers.
  • Work with RHs to engage with their customers as per the defined frequency

Operational Effectiveness & Control:
  • Actively support PRMs/TTRM's to offer clients solutions that meet their needs and risk profile
  • Maintain a high level of technical expertise by working closely with product team and product providers
  • Ensure all processes and procedures are accurate and in accordance with the RBWM 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 all relevant processes and procedures of the Group compliance policy and internal controls
  • Pro-actively complete Continuous Professional Development (CPD) and ensure coaching and development action plans are developed and agreed upon with line manager in order to meet and maintain compliance and T&C standards
  • Contribute to HSBC by creating and retaining market leading standards and controls
  • As for Specialist Individual Contributor, but in a leadership role e.g. is a highly specialised resource/ manages a complex technology.
  • Develop and recommend changes and improvements to operating models, procedures and practices based on subject matter expertise and understanding of HSBC and market best practice.
  • Communicate and adhere to HSBC policy and procedures in order to ensure good operational, financial and project management, policy and procedural compliance and early identification and effective resolution or escalation of issues that arise.
  • Contribute to the development, implementation and maintenance of a management information, analysis and reporting framework that supports and informs timely and effective business management and decision making
  • Ensures that business risks are managed and operational procedures comply with regulatory standards and guideline
  • To adhere to Group Compliance Policy
  • To continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructuring, and the impact of new technology
  • Appropriate use of Franchise levels
  • 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 manage
  • 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 that all records are obtained in respect of INM RBWM 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 AML & Sanction 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 in the LoBP
  • 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
  • At least 8 years of relevant experience in a Bank of Asset Management Companies
  • MBA from a reputed institute preferred, Post Graduate Degree (preferably in Economics, Mathematics, Finance) or professional qualifications like CA is preferred
  • Strong analytical and problem solving skills
  • Proven ability in productivity enhancement
  • Demonstrate behaviours consistent with HSBC Values
  • Expertise in bank's systems and processes
  • Skills in sales, financial planning and communication.
  • Sound problem solving skills.
  • Knowledge of bank and operating platforms.
  • Industry and sector knowledge.
  • Knowledge of sales and service techniques and models.

  • Excellent interpersonal skills
  • Coaching techniques on a team or one to one basis
  • Planning and organising skills

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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