Job Title Senior Manager Investment Products
Job ID 672BR
Country UAE
Function Retail Banking Wealth Management
Department RBWM Wealth
Grade 4
Job Description
Role Purpose
Lead the development & distribution of Investments Products as part of Financial Planning solutions for RBWM in the MENA Region
Establish HSBC as the preferred service provider for investment products in MENA Region
· Develop the overall product, pricing and marketing strategy and a coherent offering of investment products to help the Bank increase market share and grow business volume/FUM in the HUB & Spoke model in MENA Region
· Align the Investments Proposition for RBWM in MENA Region with best practice across the globe
· Grow the Investment AUM (currently USD 1.7b) substantially while maximizing the investment revenue % as part of overall RBWM net fee income.
Job Responsibility
Drive Investments business proposition & product strategies in MENA Region to achieve NFI, FUM & market share targets
Develop and deliver investments proposition and product strategies – focusing on Global Banking Products - on an end-to-end basis for MENA countries, including product propositioning, pricing & distribution, operations support and marketing.
Through constant evaluation of market trend in MENA countries, needs of different customer groups and regular review of investment product portfolio, optimize the investment product suite, identify product gap and business opportunities, drive initiatives to sustain competitive edge
Increasing cross-sell of Investment products from Global Markets, Structured Products, Dual Currency Investments and Securities to RBWM customer base
Work with legal & compliance to deliver products and communications within the regulatory framework and current HSBC policies
Work closely with the in country wealth teams in the MENA Region to consistently drive excellent product development/distribution and sales performance
Review and maintain appropriate investment products suite in MENA region to support the overall Wealth strategy for RBWM
Evaluate product proposals from external providers such as Asset Management companies as well as internally from Global Markets & HSBC Asset Management, keeping in mind both customers interest and business requirements
Ensure both development & distribution of investments products in the MENA Region is done after giving due consideration to relevant risks, competitiveness, and profitability, and at the same time ensuring alignment with current market environment and Global investment product strategies for RBWM
Customers / Stakeholders
Understand regional customer needs and address these by building wealth solutions whilst customizing for local conditions
Develop and implement financial planning process and tools
Develop targeted products to identified customer segments
Improve the Customer Experience by enhancing product portfolio
Quickly build positive relationships with key stakeholders
Improve Global House view & Research capabilities by leveraging the resources in the group
Leadership & Teamwork
Work with the Sales leaders as well as RMs across the countries in MENA region
Lead Regional Investment product related projects for RBWM
Operational Effectiveness & Control
Maintain and ensure due observance of HSBC Internal Control Standards, including the timely implementation of recommendations made by auditors and external regulators in each of the MENA countries
Ensure awareness of compliance requirements and implementation of Group Compliance Policy.
Jointly work with compliance to liaise with regulatory bodies in each of the regional countries for product approvals and participate in industry groups amidst increasingly tough regulations
Major Challenges
The jobholder must have in-depth knowledge and understanding of global investment markets, investment products, customer needs, and strong technical know-how on structured products, Bonds, forex and Mutual funds.
Customer needs are becoming more demanding, competition is stiff, and regulatory requirements are tightening. The job holder needs to be able to source appropriate, innovative yet simple product ideas that can meet the customer needs as well as meet the business goals.
Personal motivation, commercial awareness and strong communication skills are required in product development & management. Practical, analytical and innovative thinking is essential.
He/she must have strong project management skills, effective coordination and prioritization of resources, and ability to deliver projects / new products within a tight timeframe to achieve investment product objectives.
As responsibility extends across the MENA Region, countries differ in terms of market maturity, regulatory constraints, staff/customer understanding, and cultures and attitudes. This presents a key challenge, and he/she must be able to familiarize themselves with this information.
Knowledge & Skills
The jobholder should have 6-10 years of working experience, of which a minimum of 3-5 years of relevant experience in product development, sales or marketing in Wealth products with leading retail banks, private banks, treasury or fund houses. CFA qualification will be advantageous.
In addition to above
Experience in coordinating investment products activities/sales/training/IT/financial planning in the Wealth business
Evidence of strong results orientation and performance management success.
Experience in both developing and developed markets.
Proven track in working in multi-function projects.
Experience of identifying and successfully integrating product manufacturing
Excellent relationship building and senior stakeholder management skills
Culturally sensitive and understanding of local customer needs
Able to take significant responsibilities in sales process, legal, compliance and system related issues.
Work closely with the respective country to develop, penetrate and distribute investment products to retail customers.
Work closely with all in-house manufactures and Third Parties for product development and delivery.
Strong leadership skills coupled with a high and demanding benchmark.
Excellent project management skills.
Strong process engineering skills.
Able to make tough decisions.
Able to operate effectively in a complex matrix driven environment.
Able to influence, engage and lead in a positive, inspiring manner.
Deadline: 13th Jan 2013
How to Apply:
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