Job description
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.
The Head of Product – Wealth Management will be responsible for driving innovation, strategy, and execution of wealth management solutions tailored for high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) in India. The role requires deep expertise in investment products, regulatory frameworks, and client-centric offerings to enhance the bank's market positioning in the affluent segment.
Principal Responsibilities
- Plan, build and implement Investment & Insurance product strategy, which includes Mutual Fund, PMS, AIF, Bonds, Structured Products, Equity Broking, Demat services, Life Insurance and General Insurance products
- Identifying new product ideas for inclusion in the wealth product suite. Tracking, conceptualizing and driving strategies around the key pillars which include enhance cross-sell to existing clients, increase total relationship balances & revenues and accelerate product penetration & recurring revenues. Establish distinct offerings for the range of client needs with distinctions by client segment
- Clearly establish corporate goals, short term & long term budgets and develop business plans for the achievement of these goals with key focus on bottom line profitability by ensuring optimal utilization of available resources
- Devise product and distribution strategy taking into consideration market analysis, competitor analysis and how to leverage upon HSBC’s brand, financial planning and wealth management expertise
- Manage relationships with product manufacturers and lead product ideation and commercial agreements with the product providers
- Manage relationship with channel teams, across levels, to efficiently drive wealth sales, drive wealth penetration and manage RM productivity
- Manage and work with internal stakeholders which include 1LOD, 2LOD and 3LODs, sales & business management teams to ensure a high level of compliance and control for all Wealth Products, including systems, platforms, oversight processes, sales quality checks & reporting, fair value compliance
- Ensure compliance with Group strategy/policies, managing approvals/changes, and monitor local country analysis of risk, performance and financial results for the Wealth Products
- Provide Country input to new product design initiatives (the end to end client journey/experience of using the product) to ensure client needs are met most effectively
- Contribute strongly to continuous improvement, to improved client experience through the advocacy of a client centric sales culture incorporating Treat Customer Fairly principles
- Participate in local product panels led by Business Planning, Operations Risk, Product Control and ensure compliance with Group strategy/policies, managing approvals/changes, and monitor local Country analysis of risk, performance and financial results
- Ensure local entities monitor the performance and risk of products to ensure that customer outcome objectives are met. Work with business performance to review product KPIs
- Establish effective concentration tracking mechanisms and promote research-theme based products to support Group trusted advisor positioning
- Continually reassess the operational and regulatory risks associated inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- Remain alert and promptly report to the Sanctions Officer/ INM FCC office/ Line manager ( As applicable and required by the AML and sanction Policy) if a breach/potential breach comes to notice of any staff
- Be aware of, and adhere to the local Regulatory requirement that all new products should be subjected to intensive monitoring for the first six months of introduction to ensure that the indicative parameters of compliance risk are adequately monitored
- Ongoing product reviews: All Product Owners need to undertake and ensure that their products are subject to periodic product or product portfolio reviews
- Responsible for ensuring that mandatory education / training and other compliance objectives are included in the performance objectives and are completed in a timely manner
- Responsible for ensuring adherence with the guidelines laid down in the outsourcing line of Business Procedures for existing as well as new vendors which are being on boarded
- Be aware of, and adhere to the local Regulatory requirement that all new products should be subjected to intensive monitoring for the first six months of introduction to ensure that the indicative parameters of compliance risk are adequately monitored
- Ongoing product reviews: All Product Owners need to undertake and ensure that their products are subject to periodic product or product portfolio reviews
Requirements
- A bachelor's degree in fields such as Finance, Economics, Business Administration, or Engineering is usually considered a strong foundation. This provides essential quantitative and analytical skills needed in the financial sector
- Most candidates hold an MBA or a Master’s degree in Finance, Economics, or Business Management from a reputed institution. Advanced degrees help in developing strategic thinking, leadership, and a deep understanding of financial markets, all of which are crucial for a senior product role.
- Certifications such as the Certified BFSI Professional (CBP)by NISM and the NCCWM – Certified CRISIL Wealth Management Course are highly relevant. These credentials provide in-depth insights into financial products, regulatory frameworks, and portfolio management that are critical in wealth management.
- Advanced certifications like the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) can further strengthen one’s expertise in asset management, risk assessment, and client advising
- Supplementary credentials in product management—proficiency in managing product lifecycles, innovation, and cross-functional leadership
- Typically, 10 to 15 years of progressively responsible experience in the financial services industry is expected.
- Core Wealth Management Functions: - Direct involvement in designing, launching, and managing wealth management products, with an emphasis on solutions for high-net-worth individuals
- Product Lifecycle Management: - A proven track record in product strategy, development, pricing, and portfolio management. Leaders are expected to have experience managing the entire product lifecycle—from ideation and development to market launch and performance evaluation.
- Cross-Functional Leadership: - Experience working with diverse teams such as technology, sales, compliance, and marketing. This ensures that a product leader can align multiple functions to meet regulatory standards and market demands.
- Global and Digital Exposure: - Given the emphasis on global banks’ wealth management offerings, international exposure and familiarity with digital transformation trends and fintech innovations are critical. Experience in global markets adds to the strategic depth necessary to tailor products to a diverse client base.
- Leadership & Strategic Vision: -Beyond technical know-how, candidates should demonstrate strong leadership skills, strategic vision, and a deep understanding of market dynamics. Experience in managing large teams, leading product roadmaps, and driving change within complex organizational structures are essential.
- Financial Acumen: A strong grasp of asset allocation, risk management, and regulatory compliance in the wealth management space
- Analytical and Data-Driven Decision-Making: Proficiency in quantitative analysis, market research, and data interpretation to guide product strategies and innovations
- Communication and Client Focus: Ability to translate technical product specifications into client-centric solutions, while also maintaining cohesive communication with stakeholders and regulatory bodies
- Innovative Mindset: A forward-thinking approach toward leveraging technology, enabling digital product innovations, and staying ahead of market trends to meet evolving client needs
- A leader in the product function for global banks’ wealth management business in India is expected to combine a robust academic background (typically an MBA or relevant Master's), industry-specific certifications (such as those offered by NISM and CRISIL alongside financial analysis credentials like the CFA), and substantial experience in BFSI. They must balance deep domain expertise with strategic product management, digital innovation, and effective leadership across varied teams
- If you’re looking to tailor your career path or recruitment strategy, diving into programs like the Certified BFSI Professional or wealth management-specific certifications can provide both the technical proficiency and the market insight needed to excel in this role
Additional Information
- Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.
Useful Link
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Issued by The Hongkong and Shanghai Banking Corporation Limited, India