Job Description

Job description

Some careers shine brighter than others.

If you\xe2\x80\x99re looking for a career that will help you stand out, join HSBC and fulfil your 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.

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\xe2\x80\x99s largest global wealth managers with USD1.4 trillion in assets. Across Asia, where wealth pools are growing faster than in any other region, HSBC\xe2\x80\x99s 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 for 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\xe2\x80\x99 needs.

We are currently seeking an ambitious individual to join our Wealth and Personal Banking team in the role of Assistant Manager Insurance Product Development working together with colleagues to define, manage and achieve divisional business targets.

Role Purposes: * The jobholder will be assisting Insurance Product Manager in carrying out new insurance product development and enhancement (variation) that meet the need of HBMY/HBMS customers and ensure the products are developed/enhanced and distributed within the expected sales proposition for WPB, including RBB (Retail banking Business). In addition, to conduct Periodic Product Review within the required time frame according to Group\'s Guidelines.

• The jobholder is also expected to manage the insurance MI reporting, coordinating with 3rd party in delivering the expected data/reports within the agreed timeline; and to assist the product manager in process/operation enhancement; delivering good customer experience for Insurance solutions to HSBC customers, based upon clearly defined service standards.

Main Responsibilities:

1. Product Development

• Supporting Head of Insurance and Product Manager;

• By providing input and recommendations for new product ideas and negotiating with Takaful/Third Parties providers for best product proposition and deals.
• By preparing effective business documentation including Product Opportunities and Proposition Papers, Range Review papers, Vendor Risk Management, Risk Assessment documents and other relevant drafts required from the perspective of Product development and launches.
• By managing effective business relationship with existing Takaful/3rd party Providers at operational level and assist in the execution of new product launches, product promotions and marketing initiatives.
• To be fully abreast with the market competition by conducting comprehensive market studies.
• To effectively handle implementation of product promotions and campaigns

2. Digital Transformation

• To perform digital business requirements validation.
• To manage and negotiate with insurance partners on digital business requirements.
• To participate in UAT, staff pilot and health check to ensure digital business requirements are implemented smoothly.
• To ensure all local governance are adhered for all digital business implementation

3.Insurance Sales Processes and Systems and related trainings

• To assist and coordinate in the implementation of end-to-end sales process for new product offerings, including system development and enhancement, effectively.
• To implement insurance sales quality process, embedding changes and ensure all relevant controls are implemented in order to achieve a satisfactory audit rating, effectively.
• To assist in the training of new onboarding sales staff to be in line with the Global Sales Standard.
• By ensuring Operating Procedures and sufficient due diligence are carried out prior to any new product initiatives and that all process implementations/changes are aligned with the regulatory requirements and Global Standards.

4. Sales support

• To assist in establishing potential cross-selling/up-selling opportunities to enhance the penetration rate of Premier and Advance market segments via insurance product solutions.
• By researching and compiling regular update of competitors\xe2\x80\x99 product launch, offers and counter-objections strategies for enhancement of selling skills and competitive product knowledge.
• Consolidating insurance MI reports from business partners to be circulated to branch network.
• To assist in coordinating and managing for the Bancassurance Training Program

5. Group / ASP Compliance and Regulatory Control

• Ensure all IHO, ASP, BNM guidelines; rules and regulation are adhered to.
• To ensure all local and group compliance are adhered to.
• Maintain and ensure due observance of HSBC Internal Control Standards, including the timely implementation of recommendations made by internal/external auditors and external regulators. Ensure awareness of operational risk, including its identification, assessment, mitigation and control, loss identification and reporting in accordance with Section 4 of the Group Operations FIM.

6. Activities to support AML Sanctions LOBPs

• To identify FIM updates and to keep the country template updated
• To ensure relevant documents are approved and signed off
• To ensure relevant training & communication materials are updated

Requirements

• At least a bachelor\'s degree in any related discipline is required.
• 2-5 years of working experience as a wealth management or financial market.
• Strong client skills with the ability to deliver a strong client experience and provide needs-based solutions.
• Deep knowledge of specific complex financial solutions and products including the knowledge of financial markets, social-economic dynamics, and regulatory requirement relevant to the products.
• Extensive external market awareness of market conditions, new product solutions, and an understanding of current financial market activities.
• Demonstrated ability and experience to correctly identify client needs.
• Solid skills to manage consultative sales process.
• A solid understanding of global anti money laundering standards.
• Team player with collaborative skills.
• Knowledge of local and Group compliance regulations.

Due to the urgent hiring need, candidates with immediate right to work locally and no relocation needed will be prioritised.

Opening up a world of opportunity

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. 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.

Issued by HSBC Bank Malaysia Berhad

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