HSBC Group

Business: HSBC International Wealth & Premier Banking

Open positions:1

Role Title: Vice President, Retail Wealth Models and Product Governance GSC’s

Global Career Band: 4

Location (Country / City ): India- Gurgaon/Kolkata/Bangalore

Recruiter Name : Lizy Binu VARUGHESE

Why join us?

• The role sits in Wealth & Premier Solutions (WPS). WPS is the global front office business established to deliver an enhanced range of market leading in-house and third-party investment services and investment products as well as wealth lending solutions to all client segments across the Wealth Continuum.

The Opportunity:

• We are currently seeking a high caliber professional to join our team as Vice President, Retail Wealth Models and Product Governance.

Role Purpose:

• As part of the HSBC Group, International Wealth and Premier Banking (IWPB) operates as one of two Global Businesses. In IWPB, our ambition is to be the leading international wealth manager in Asia and the Middle East.
• To support our wealth ambitions across IWPB, Wealth & Premier Solutions (WPS) are responsible for providing world-class products, capabilities, services and exceptional client experience across the client wealth continuum. This includes three global sub business lines for clients, namely: Global Private Banking, Asset Management and Insurance.
• The purpose of the role is to provide quantitative expertise on (1) the end-to-end model lifecycle for Retail Wealth products and, (2) provide technical support on the governance of wider Retail Wealth products. The role is global in nature and supports all the IWPB markets. 
• In WPS, a centralised financial modelling team drive Model Ownership and Model Development for all business. In particular, modelling of Retail Wealth products represent one of the most critical capabilities and pillars to fulfill IWPB customers’ financial needs as well as fully deliver HSBC’s capabilities to the full benefits of our clients. The end-to-end modelling lifecycle includes design, development, coding, testing and post implementation monitoring. The role complies with model risk requirements to identify, measure and manage financial models, while ensuring regulatory compliance and robust model governance. The use of robust Models to drive the right customer outcomes is important. Model risk is one of the top risks that is monitored and discussed at the Group Risk Management Meeting and Group Model Risk Committee. The Second Line of Defense for Model Risk, represented by the Independent Model Review (IMR) and Global Model Risk Management (MRM) functions, as well as the Third Line of Defense (Model Risk Audit) have increased expectations for the First Line (model-owning and using functions) to ensure that appropriate and robust processes covering model development, documentation, and performance monitoring, among others, are in place.
• In WPS, the Global Product Governance team carries out management and oversight of the Global Product Governance Procedures including committee across IWPB products, investment services and credit solutions. Key responsibilities include supporting the management of Global Product Governance, ensuring it remains in line with Group and as a feeder into local regulatory requirements. The role holder will work in partnership with all local Product Management teams to oversee and technically review submissions of products for approval.
• The role holder will be a member of the leadership team of the Wealth Models & Product Governance Lead, IWPB.

What you’ll do:

Principal Accountabilities:  Key activities and decision-making areas

Impact on the Business

Impact on the Business

• Support developments of all the models used in Retail Wealth including implementation of the model governance framework.
• Internally build or work with third-party vendors to build models which facilitate a robust suitability process for clients. Examples include the Suitability Risk Profiling process and the Aladdin Risk Engine.
• Ensure adherence to the Model Risk Policy & Standards and regulatory expectations for Retail Wealth Models.
• Ensure that the Wealth models are fit for purpose, well governed and reviewed frequently e.g. model monitoring and model assessments.
• Work in a team of Model SMEs involved in creation and maintenance of model documentation, development and implementation standards, model validation, monitoring, ongoing management and support for IMR review .
• Streamlining of existing processes and transition to automation platform subject to availability of budget and resources.
• Manage stakeholder relationships globally, ensuring that sufficient regional input is factored into the decision making process.
• Ensure robust governance through appropriate committees, member of relevant governance bodies, acting as Retail Wealth models SME.

Grow

• Ensuring local and global product governance forums are balanced to ensure business growth while meeting regulatory and Group requirements.
• Ensuring (where possible) globally consistent Product Governance and Product Oversight Committee desk procedures to ensure maximum process efficiencies to assist timely product marketing.
• Ensuring (where possible) globally consistent control frameworks and underlying procedures.

Protect

• Ensuring all product governance artefacts are correctly documented, in line with Group and all regulatory requirements. Protect the bank by ensuring that all procedures and processes are correctly documented, updated and followed.
• Management of an effective MI and KRI framework.
• Working with Regulatory Compliance, Legal and Risk to ensure all governance arrangements and oversight needs meet regulatory and legal requirements.

Streamline

• Streamlining the product approval process to achieve the correct balance between distribution of the right products for our clients, effective time to market and effective product management/governance.
• Ensuring that all arrangements that support IWS products and services are controlled and monitored centrally while ensuring that local requirements are met without duplication.

Customers / Stakeholders

• Working collaboratively with all Stakeholders, (Compliance, Legal, Risk, Chief Control Office) Senior Management and Group Procurement.
• Work closely with Regulatory Compliance to ensure that IWPB is compliant with existing laws and regulations and also is able to implement requirements of emerging regulations in a timely manner. Role should also work with Regulatory Compliance to develop IWPB policies which uphold Regulatory expectations, protect the Bank and ensure consistent application of controls.
• Work across the CCO community to ensure key controls are captured in local RCAs and that operational issues with key controls are escalated to Senior Managers.

Leadership & Teamwork

• Works collaboratively with all major Stakeholders, Global Product Heads and all outsource providers.
• Collaborates with colleagues within the immediate team and with all local teams.
• Offers help to colleagues within direct team and outside team, regularly providing feedback on new and better ways of working, sharing ideas and best practices with the team.
• Provide leadership and assists in driving a compliance culture across the business.
• Maintain cost discipline; improve efficiencies through standardisation under global procedures.

What you will need to succeed in the role:

• Relevant professional qualification such as CFA.
• Post - degree level education or knowledge in wealth investment products.
• Negotiation and influencing senior stakeholders.
• Ability to think strategically and manage relationships with senior stakeholders.
• Leadership qualities and good team management skills.
• Excellent Communication and Inter person skills – Both verbal and written.
• Good analytical skills, an eye for detail and a drive for quality, understand and to interpret Numeric information.
• Experience of managing Product Governance in an investment related business is preferred.
• An understanding of investment, banking, credit and insurance products and services.
• Prior experience in Private Banking or Wealth Management is preferred.
• Getting results through effective management of processes; possess capacity to define problems and find effective solutions; ability to relate to people at all levels both internally and externally.
• Practical experience working alongside global product/business management teams.
• Strict deadline management with project management discipline.
• Ability to work independently and manage business as usual tasks while also progressing elements of various projects.
• Confident presenter, able to present complex topics to stakeholders at all management levels.
• Effective presentation, interpersonal, negotiation, communication and analytical skills.
• Recognised strong organisational skills.
• Understanding of the HSBC Group will be beneficial for the role.
• Proven leadership skills in a changing environment.
• Proven experience in successfully managing challenging markets.
• Strong experience in creating best in class processes and activities.
• Knowledge of authoring policies, standards, governance lifecycle process, frameworks, and Target Operating models.

What additional skills will be good to have?

• Excellent written and oral communication skills.
• Ability to guide a global business and owners in the best interests of the bank.
• Exhibit physical and mental endurance to study papers, author papers, and publish regulatory compliant documentation.
• Strong and proven leader to develop and nurture stakeholder relationships with Regulators, regional teams and Audit.
• Excellent relationship management and diplomacy skills, ability to communicate, influence and negotiate effectively.
• Collegiate, solutions focused attitude.
• Skilled decision maker, able to stand firm and show necessary flexibility where required.

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You’ll achieve more at HSBC

HSBC is an equal opportunity employer 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. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”

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