Senior Vice President - Head of Wealth, Philippines WPB

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Some Careers Grow Faster Than Others.

If you’re looking for a career that will give you plenty of opportunities to develop, join HSBC and your future will be rich with potential. 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.

Our sector-focused Banking relationship managers provide a single coverage point for multi-national clients. With our global capabilities and footprint, vast expertise and local knowledge, our Banking teams connect clients to the products and services that meet their global financial needs.

We are currently seeking a high caliber professional to join our team as an Senior Vice President - Head of Wealth, Philippines WPB.

Role Purpose

Reporting to the Head of Wealth and Personal Banking (WPB) in MNL, this role is responsible for the Wealth value stream in WPB Philippines. This role has full responsibility for wealth products, wealth strategy, P&L and customer journeys relating to our wealth products, looking for ways to drive revenue and meet financial and non-financial growth ambitions.

Summarised as, but not wholly limited to:

• Product management of Wealth, Insurance, and liabilities with full P&L ownership of these products.
• Establishing and maintaining relationships with external parties (asset management companies, auditors, regulators etc.)
• Delivering key strategic projects and initiatives to build a leading Wealth offering, linked to wealth and WPB strategy
• Collaborating with a wide range of stakeholders – locally across lines of business and with stakeholders in the region and group
• Supporting frontline, customer facing teams to enable them to delight clients and grow customer relationships
• Drive commercialization with full accountability & ownership of the wealth business, delivering both financial and non-financial metrics (i.e. wealth customer growth, penetration rates etc.) working closely with key stakeholders
• International connectivity with other markets across the HSBC Group, to support client offshore needs as well as onshore
• Wealth product control and governance.

Principal Accountabilities

Impact on the Business / Function

• Own the defined product AOP for WPB’s wealth products, working with teams from across WPB to achieve FRP.
• Product management of Wealth and Insurance with full P&L ownership of these products.
• Support Distribution to maximise customer sales and satisfaction, delivering financial and non-financial growth targets
• International connectivity with other markets across the HSBC Group.
• Devise initiatives to generate income, contain cost, migrate/reduce operational losses
• Develop change management capabilities, to ensure that full benefits of change and transformation initiatives are realised.
• Drive projects in response to market changes and opportunities in line with WPB strategy.
• Evolve Wealth distribution model through delivering new capabilities and channels
• Leading a team of product managers and operational experts

Customers / Stakeholders

Stakeholders

• WPB Philippines CEO, Distribution, Retail Products, Customer & Marketing, Business Management, Data & Analytics
• All Functional Support businesses and Centres of Excellence, IT and Change Delivery ensuring support for strategy.
• Regional and Global Stakeholders in Wealth and International leadership and wider Global WPB teams.
• Frontline distribution colleagues in HSBC Wealth and HBAP
• External third parties (Fund / Product providers, Auditors, Regulators and others)

Customers

• Puts the customer at the heart of everything we do, looking for ways to improve customer experience.
• Looks externally at emerging trends, opportunities and threats (locally and globally)
• Uses customer insights and data and analytics to drive customer centred decision making
• Develops effective working relationships with key country stakeholders to maintain expert knowledge of stakeholder requirements, competitor activities and market trends to influence future direction of WPB Wealth Management and International opportunities.
• Support customers financial planning and wealth management needs across the wealth continuum

Leadership & Teamwork

• Lead team and accountable for performance management, development and coaching of direct reports.
• Recruit, develop and retain the highest quality values aligned and customer centric people across the business.
• Communicate a clear vision for WPB that is aligned to the overall HSBC vision, values and goals, and inspires and engages people to create an inclusive, high performing, customer-centered culture.
• Ensure effective succession plan is in place.
• Lead, develop and motivate the leadership team to attract, retain and develop the capacity, capability and talent to provide for succession and ensure delivery of business objectives.
• Lead and encourage cross-business teamwork, collaboration and matrix management.
• Challenge actions/behaviours inconsistent with HSBC.

Operational Effectiveness & Control

• Manage impact of changing economic and market conditions, legal and regulatory requirements, operating procedures/practices, management restructuring and impact of new technology.
• Manage process, infrastructure and resource to deliver agreed plans, identifying/implementing improvements and collaborating to maximise end to end integration, effectiveness and efficiency.
• Maintain robust, efficient controls to ensure strong operational, financial and project management and compliance with HSBC policy and procedures.
• Identification and effective resolution/escalation of issues.
• Develop, implement and maintain management information, analysis and reporting supporting timely and effective management decision making at all levels.
• Implement and monitor application of policies, governance.

Qualifications

Knowledge and Experience

• At least 10 years experience in Wealth Management, Products or related functions in the financial/banking or allied sectors.
• Extensive skills in strategy development, marketing & propositions, product management, product profitability modelling, P&L ownership across multiple financial product categories and customer segments.
• Strong leadership and communication skills.
• Deep exposure and experience with customer journey mapping, designing and lifecycle management.
• Extensive experience with customer base marketing initiatives, particularly product retailing to the mass market and affluent segments via multiple distribution channels.
• Deep experience in building and leading teams of product managers.
• P&L knowledge and experience, being able to drive revenue-generating activities.
• Customer obsessed, with an ability to create products and propositions that meet client needs.
• International connectivity and knowledge of Group stakeholders to deliver results for MNL.
• Ability to define and execute a growth strategy

Skills and Abilities

• Highly effective communicator with excellent interpersonal skills.
• High level of energy and enthusiasm.
• •Must have the potential for further development personally and professionally.
• Excellent relationship building and senior stakeholder management skills.
• Strong leadership skills coupled with a high and demanding benchmark
• 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.
• Able to execute at pace

Should you wish to learn more about the vacancy, you may reach out to the hiring manager, Peter Faulhaber.

You’ll achieve more when you join HSBC.

www.hsbc.com/careers

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Issued by The Hongkong and Shanghai Banking Corporation Limited.