Head Mobile Wealth Planning India Job In Hsbc In Mumbai, India

Job description 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 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 This is a critical role for WPB India, with accountability for launching and scaling-up a new holistic financial planning led wealth and insurance business in India 'Shikhar, complementing the existing WPB India franchise, with the potential to create significant value for the Group Significantly , the role has accountability for growing the WPB business in this space to support the turning around of India and build a scale, high return and profitable business This business model will offer 4 key areas of differentiation:

• Unique financial planning experience tailored on key goals relevant to the life stages of our customers
• High-quality personal wealth planners (PWPs) supported by digital 'wealth + insurance' planning and execution tool and a salary + bonus model (as opposed to pure commission structure)
• Digital platform delivering well-curated engagement content focused on financial health and
• Advisors backed by a trustworthy brand bringing together multiple lines of business and global connectivity

We envision the 'Shikhar' India business to be

• USD 1.
  
  3-18 billion valuation in year 5
• USD 68m revenue and USD 41m PBT in year 5
• Over 2K employees
• 575K customers in year 5
• Separate team of PWPs hosted within a separate entity outside the bank who will do advisory and product sales
• Emerging affluent and affluent segment target customer base who do not qualify for Premier proposition, ensuring minimal overlap and expanding our segment reach and coverage
• Comprehensive product suite including mutual funds (open architecture), life insurance (CHL only), lending and cards (HSBC Bank), Health Ins and GI (via partners till CHL is allowed to manufacture)
• Customer acquisition via a mix of self-sourcing and leads (EBS, other internal channels and external sources)

We envision the roleholder to lead the strategy design and implementation of Shikhar India and managing legal entity housing Shikhar, including

• Setting a team across and be the entity and functional lead for WPB team members including the products head, customer and propositions head, distribution head, digital/technology head and operations
• Provide entity leadership to executives from group functions assigned to this entity, like CFO, Compliance, HR, HTS (org structure on page 6)
• Be the voice of HSBC externally and participate in industry forums on wealth and insurance, telling the HSBC story and evidencing capabilities
• Lead the development of technology infrastructure (customer facing as well as for employees), working with DBS and third parties This infrastructure will be the key differentiator for Shikhar India vs other banks and competitors
• Build a team of 2K Wealth Professionals and create the HSBC culture in the entity These wealth professionals will provide wealth and insurance solutions to existing HSBC customers as well as build a book of new to HSBC customers who start with wealth/insurance and then take other HSBC products
• As the entity head, interact with relevant regulators evidencing compliance to existing regulations, while influencing the discussions on new regulatory frameworks
• Lead the proposition design and marketing plans with the head of propositions, to attract customers to HSBC Shikhar
• Successful execution of the plan will allow us to materially grow the scale and reach of our WPB franchise in India, de-risk the high dependence on Canara Bank for CHL, and create significant incremental value for the group (USD1.
  
  3-18B by Year 5) The success of the business will be underpinned by:
• Designing a unique and integrated insurance + wealth oriented financial planning experience for our customers
• Developing a strong advisor value proposition to attract and retain talent, building from scratch a high quality frontline salesforce of 2,000+ PWPs in 5 years This would include identifying talent pools to target for hiring, creating a competitive compensation framework, training and development programs, creating career progression opportunities for PWPs, performance management strategies and ensuring sales practices are compliant with the local regulatory requirements and HSBC policies
• Designing and executing a robust customer acquisition strategy, ensuring an optimal mix of customers acquired via adviser self-sourcing and leads flow
• Establishment of a separate entity to house the PWPs
• Maximizing the opportunity for HSBC by fully leveraging our in-house manufacturing capabilities in banking, wealth, insurance and asset management
• Actively manage potential compliance risks involved in running a large distributed sales force
• Working closely with DBS and other external providers to create technical and digital capabilities to enable PWPs to serve their customers as well as customers to self-service, while ensuring tech-stack integration of the platform with the Bank and CHL infrastructure
• The role holder, accountable to [Group Head of Insurance, ASP WPB Exco and India Exco], is the business owner of all the above main drivers, responsible for P&L of 'Shikhar' India, for achieving key KPIs across people, financials, customer satisfaction and outcome, sales productivity, risk and conduct, regulatory compliance, and delivery of milestone capabilities based on the business case, strategy and operating plan.
  
  

Principal Accountabilities

• Accountable to design and implement the Shikhar India strategy, involving WPB and functional stakeholders, while informing the overall WPB India strategy
• Accountable to devise, propose the vision, mission, financial outcomes, strategies, long term and short term operating plan to Group Insurance Head, ASP WPB and India Exco
• Accountable to implement the plans to reach $13-18 billion valuation target in year 5, its associated revenue, capital, customer and sales and service objectives
• Accountable to make decisions on the detailed key areas of investments within the approved business case, including data, technology, and people and reallocate frequently resource to enable priorities
• Accountable to stay on top of market developments including competitive developments to make day to day adaptive decisions across all dimensions of the business and escalate to Group for support in the areas of new risks and opportunities
• Accountable to design and develop suitable investor, regulators, customer stories to strengthen the advocacy and commitment for the new business internally, and externally mainly in mainland India market to support HSBC brand reputation, and investors' confidence in HSBC plan in India

Customers / Stakeholders

1. Customers

• Accountable to establish and embed customer centricity culture in the new business 'Shikhar', use customer insights and data and customer value based design approach to manage products, proposition, channel experience design, set effective customer level objectives, and review and drive performance accordingly

1. Stakeholders

• As the legal entity head, Accountable to interact with regulators on business model, strategy and innovation conversations to warrant local approval and support on the new business approach, where applicable, licenses
• Interact with external media to tell the Shikhar and HSBC story and be the face of leading innovation of wealth and insurance in India
• Support Group Head of Insurance and Head of WPB India to mobilize support, and report progress to Group WPB CEO,HBAP and India CEOs and ExCos as well as HBAP/Holdings Board and other relevant internal/external stakeholders
• Accountable to align organizational support by building and maintaining trusting relationships with India CEO and ExCo, ASP WPB Exco, senior teams in GB&M and CMB, DBS and Functions

Leadership & Teamwork Drive a collaborative cross functional teams, across all lines of business

• Act w ith Purpose - Make decisions for our long-term success by putting our customers at the heart of everything w e do whilst we impact positively the communities' we serve.
  
  Enable others to see their part in our purpose
• Empower our People - Strong people management and team building skills
• Bring all lines of businesses working together Hold people accountable for achieving outcomes and recognize them when met Build strong talent and leadership pipelines for growth Develop others to be at their best by creating an open, safe, inclusive and learning environment.
  
  Succession Planning
• Deliver at Pace - take timely and considered decisions whilst keeping the pace of change Translate strategy into clear outcomes for teams
• Accountable to explicitly manage all major aspects of organizational effectiveness, regularly taking stock of and improving its operating rhythm, meeting protocols, interaction quality, and dynamics as the organization grows from c zero to c2,000 professionals in 5 years' time
• Accountable to drive organizational design to deliver speed, stability and disciplines, and recruit, attract a top team across multiple disciplines matching talents to the value that business needs to create
• Accountable to set priorities, communicate and provide clarity and transparency at all levels
• Accountable to enable, empower, instill a high performing culture with robust reward and recognition approach
• Develop and coach, build talent pipeline to ensure key roles are robustly staffed

Operational Effectiveness & Control

• Accountable to appoint clear process owners across value creation for doing the right things for customers, and control mechanisms on doing thing rights amongst the top team and ensure coherent across processes
• Accountable to proactively monitor development in the market to ensure HSBC owned operations and services have competitive edge both on quality and cost to serve
• Accountable to review control mechanisms to meet expectations on conduct, suitability, regulatory and financial crime risk management and drive regular reviews to identify key risks, issues and interdependencies, and determine and apply appropriate mitigation strategies

Major Challenges

• Build a business from scratch to significant over a very short period of time
• Choose the right business strategy and establish the right business model that would match the of the Group's ambition and plays to HSBC strength in a highly competitive market with significant changes on annual basis
• Manage organizational alignment across country, region and group to deliver the ask to be a fast paced 'start-up' with venture capital business mindset within HSBC, leveraging on the strength of the Group, while offsetting the constraints and delivering to its reputational and brand standard
• Balance short, medium and long-term business strategic plans and deliverables in a fast changing India market
• Recruit and retain of key senior talents across disciplines of sales management, data, digital, wealth ainsurance that brings India specific experience and able to thrive under HSBC culture
• Materially change the local market perception to be considered a highly competitive and value adding local player with international expertise

Role Context

• The role is strategic to HSBC because it impacts the WPB India strategic plan and overall growth ambition considerably increasing the playing field for HSBC India by completing the existing network (expand to additional 30-35 cities)
• The role is critical in its design because it is embarking on a business area that is new to HSBC India with limited established expertise.
  
  
• This role is complex and dynamic, as required to deliver at fast pace, taking the best of HSBC established processes as well as market best practices, establishing the operating framework within the risk appetite of HSBC Group, and be a strong custodian of HSBC reputational risk in a complex market

Management of Risk

• Demonstrate leadership on Regulatory & Compliance matters Maintain awareness of operational risk and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting in accordance with section B12 of the Group Operations FIM.
  
  Maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators

Observation of Internal Controls

• Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with local and regional Compliance, ensuring adequate compliance resources are in place and training is provided, and optimizing relations with regulators

Requirements

• Long term and visionary thinker, excellent on developing corporate strategies and creating organizational alignment
• Strong execution experience to drive performance day to day that is in line with the long term strategy
• Strong outward looking perspectives, with well-developed external sensitivity and the ability to manage external constituencies
• High commitment to deliver big picture impact for HSBC Group, experience of delivery within HSBC Group will be helpful
• Very strong organizational knowledge and excellent relationship building and senior stakeholder management skills with HSBC internal stakeholders and external media, regulators and governments
• Highly developed communication and influencing skills set
• Able to assemble and lead a high performing and high achieving management team with diversified background and in-depth functional industry expertise
• Able to demand high performance on data, technology in application to achieve customer centricity and market differentiation
• Able to navigate and make decisive local decisions or proposals to region/group governance regarding priorities, trade-offs and risks

Additional InformationUseful LinkLink to Careers Site: Click You'll achieve more at HSBC.

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 ====================================================================================================

Hsbc is looking for .

Hsbc is looking for Any Graduate / Post Graduate profile candidates.