Job Advert Details
International Wealth and Personal Banking (IWPB) is our new global business combining Retail Banking and Wealth Management; and Global Private Banking, to become one of the world’s largest global wealth managers with USD1.4 trillion in assets. 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’ needs.
Role Purpose
Role sets within International Wealth and Premier Banking to support product development and governance activities. VP Product Development Management and Suitability direct reports to SVP Product Development Management and Suitability under IWS and is responsible for developing and enhancing Suitability Framework, and building Product Development and Oversight Process.
1. Suitability Governance
- Develop and formalize the Suitability Risk Management approach with a special focus on Client Suitability Risk and Product Suitability Risk.
- Partner with the Responsible Officers, IWS Product PMs, Business Management and Regulatory Compliance to establish appropriate governance around Suitability framework and maintenance requirements.
2. Client & Product Suitability Risk Management
- Act as a key driver in developing and enhancing the Suitability Framework by building a robust suitability risk management architecture for IWPB.
- Responsible for developing the risk assessment, monitoring and reporting tools such that expressed client risk tolerances and investment objectives can be calibrated explicitly to the totality of the market risk that their portfolios are exposed to.
- Partner with IWS Product PMs to ensure proper product due diligence across all asset classes are compliant with suitability requirements of FIM and local regulations.
- Partner with Channel Management Team and IWS Product Team PMs to ensure the sales processes are compliant with suitability requirements of FIM and local regulations and consistent with client service requirements.
3 Development of Suitability Risk Control Systems
- Work with resource team and key stakeholders in the development and implementation of the Suitability Framework including Client Investment Profile, Product Suitability and Risk Disclosure, product and portfolio risk assessment tools and processes
- Engage with IT to enhance effectiveness of system applications in managing suitability and tax risks.
- Partner with Channel Management Team and IWS Product Team PMs to develop appropriate suitability risk control processes which are aligned with client service needs.
4. Product Lifecycle (approval, review and demise) Management
- Implementation of new GPB & Wealth Product Governance Framework
- Work with IWS PMs to align the product governance framework and implement accordingly
Information
- University or above graduated
- Good command in both spoken and written English
- Strong interpersonal and communication skill
- Strong knowledge of banking business and products
- Trust License and Financial Sense and Ethics are prerequisites