VP Wealth Insurance

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Business Descriptor:

Within International Wealth and Premier Banking (IWPB), we serve 41 million customers globally, including 6.7 million who are international, from retail customers to ultra high net worth individuals and their families. We help our customers look after their day-to-day finances and manage, protect and grow their wealth. Our wealth management teams provide financial planning and advice and market insight and updates, as well as products in areas such as investments, deposits, insurance, financing and foreign exchange. They include relationship managers, who work to understand the financial needs of clients and create strategies to meet their objectives, as well as technical product experts, sales managers and support staff

We are currently seeking an experienced professional to join the INM WPB team.

Principal Responsibilities:

P&L and Regulatory Management:

• Income Provisioning and GST Submission: Ensuring accurate income provisioning and timely GST submissions to maintain financial integrity and compliance.
• Regulatory Reporting/ Compliance: VP Wealth Insurance is the Principal Officer responsible for regulatory compliance and timely submission of regulatory reports in line with IRDAI guidelines to prevent non-compliance issues. The regulator mandates a dedicated Principal Officer who is independently responsible for all activities of the corporate agency license.

Wealth Insurance Products Development:

• Franchise Development: Leading the development of INM's Wealth Insurance Products franchise to drive sales and expand market presence.
• Global Wealth Strategy Implementation: Aligning country-specific strategies with global wealth strategies, ensuring consistency in product, pricing, promotion, and platform/channel strategies.

Product Launch and Commercialization:

• End-to-End Product Launch: Overseeing the entire product lifecycle, from ideation to governance approvals, launch, and commercialization, including drafting product approval papers.
• Sales Enablement and Marketing: Planning and executing marketing activities and sales enablers to support product commercialization.

Product Strategy and Network Alignment:

• Penetration and Share of Wallet: Implementing strategies to increase product penetration across segments and enhance the share of wallet from existing customers.
• Network Training and Alignment: Ensuring product strategies align with client requirements and that the network is well-trained.

Data-Driven Collaboration:

• Data and Analytics Collaboration: Working with the data and analytics team to provide frontline staff with relevant triggers, enhancing sales effectiveness.

Distribution and Channel Management:

• Distribution Coordination: Driving the distribution of wealth insurance products across offline and online channels in coordination with channel managers and sales teams.

Third-Party Due Diligence:

• Insurer Relationship Management: Conducting third-party due diligence activities to ensure robust insurer relationships. Responsibility of managing Archer and RiskFlo for current engagement with Canara HSBC Life.

Stakeholder Management and Compliance:

• Global and Local Stakeholder Management: Managing relationships with both global and local stakeholders, ensuring adherence to Group strategy and policies.
• Operational Controls and Governance: Maintaining operational controls and managing approvals/changes in line with governance requirements.

Qualifications/Requirements:

• At least 10-12 years of relevant experience in a Bank of NBFC managing Wealth Insurance
• 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
• Demonstrate behaviours consistent with HSBC Values
• Skills in product management, financial planning and communication.
• Industry and sector knowledge.
• Knowledge of sales and service techniques and models.

Skills

• Excellent interpersonal skills
• Presentation, Data management and Product analysis knowledge
• Planning and organising skills

Additional Information

• Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.

Useful Link

Link to Careers Site: ClickHERE

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India