HSBC Group

Business: HSBC Global Private Banking & Wealth

Open positions: 1

Role Title: Vice President, GPB&W Pricing Lead, GSC's

Global Career Band: 4

Location (Country / City ): Kolkata

Recruiter Name :  Anusha Balakrishna

Why join us?

Global Private Banking & Wealth (GPB&W) seeks to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. The role sits in Investments & Wealth Solutions (IWS) arm of GPB&W. IWS 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 AVP - Model Developer, GPB&W Models.

Role Purpose:

The Product Governance team in IWS carries out management and oversight of the Global Product Governance Framework, Policy, and Procedures across GPB&W products, investment services and credit solutions. The purpose of this role is to support the product governance framework that supports all products and services (advisory, discretionary and execution only; banking, credit and insurance) offered globally by IWS.

What you’ll do:

Role Context and Impact on business

• Maintain ownership of the GPB Pricing FVE policy and provide policy guidance to GPB Markets.
• Enhance GPB’s FVE Policy framework, infrastructure and processes to remediate known and emerging issues to meet evolving regulatory expectations within available resource constraints through global consistency and prioritisation.
• Support local markets to strengthen FVE Execution of the Global Pricing FVE policy, by leading the engagement of the below tasks:
• Identify solutions for local Discounting Workflow tools and review of the discounting policies.
• Participate in local pricing tasks (establishing refund thresholds, local Audit actions, disclosures, quantitative easing/removal of caps).
• Create a central database of all Product Tariffs/Fees so that analysis/simulations improve competitiveness (benchmarking) & identify arbitrage amongst markets, or spreads widening post agreed costs.
• Enhance and optimise central database of all relationship pricing so that discounting levels can be monitored for expirations and customer consistency.
• Establish system driven alerts when transparency of costs are breached by insufficient disclosures (client letters/notifications/system generated).
• Establish a self-assessment to ensure compliance by all markets with local regulatory articles, and set local actions against any compliance gaps.
• Co-ordinate periodic governance committees and forums for Markets to report to the Global Head of IWS.
• Standardisation of Committee ToR/agenda/roles for Asia, US and EMEA so that Pricing Committees consistently feed into global governance forums.
• Balance the commercial sensitivity with global consistency to inspire risk sensitive standards and controls.
• As a delegate of the GHoP, participate in local pricing committees to support decisions. This includes and is not limited to helping to establish refund thresholds, close local Audit actions, supervise appropriate client disclosures, discounting, local Fee Schedule, removal of caps of all asset classes, etc. Inevitably as a result, the role holder will be required to transform observations to further create initiatives to improve the local management of Pricing.
• Support Global Product Heads arranging for Booking Centres to review Product FVEs and log any gaps. Oversee the Product Governance team while they manage the task.
• Prevent revenue leakage by strengthening robust procedures to manage negotiated pricing surrounding discounting.
• Supervise requests made by the regulator. Work with industry panels to keep abreast of trends in pricing, changes in regulation, help form HSBC’s position on emerging topics and ensure HSBC’s views are considered in consultations and other rule-making processes in countries as appropriate.

Stakeholders & Collaborators

• IWS Product & Market Heads since they are accountable for executing FVE (criteria, tariffs per products/services, disclosure).
• Collaborate with local Business Management teams since they manage local Pricing work and FVE implementation.
• Collaborate with local CCO teams since they provide oversight on the embedding of pricing.
• Support GPB CRO, Risk Functions and other regional functions with regulatory interpretations and accurate identification and measurement of Pricing Risk.

Leadership & Teamwork

• Provide leadership by interpreting regulatory requirements for identifying and measuring Pricing Risks across GPB.
• Implement global pricing governance and standards across mature and less advanced markets and provide training as required.
• Ability to work effectively with senior stakeholders and across multiple teams simultaneously.

Operational Effectiveness & Control

• Execute multiple range of goals and priorities while balancing competing regulatory and management requirements ensuring proper governance and timely escalation of issues to GHoP.
• Optimise the use of in-house and external quantitative resources and achieve optimal balance of resources in country and lower cost areas. This may also include making arrangements to utilise virtual SME teams stationed in GPB sites by inspiring collaboration.

What you will need to succeed in the role:

• Extensive working experience in mid/senior role at retail or private bank investment product governance.
• University degree in Business, Economics or related banking disciplines. Advanced Degree (Masters) or Professional qualification (CA, CFA) is preferred.
• Excellent relationship management and diplomacy skills, ability to communicate, influence and negotiate effectively.
• An understanding of investment, banking, credit and insurance products and services.
• 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.
• Wide knowledge of pricing and key regulations is advantageous.
• Effective presentation, interpersonal, negotiation, communication and analytical skills.
• 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.
• Prior experience in Private Banking or Wealth Management is preferred.
• Ability to guide a global business and owners in the best interests of the bank.
• Exhibit physical and mental endurance to study paper, 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.
• Skilled decision maker, able to stand firm and show necessary flexibility where required.

Link to Candidate User Guide:

https://hsbchrdirect.service-now.com/nav_to.do?uri=%2Fhrsp%3Fid%3Dkb_article_preview%26sys_id%3D0c6b11641b6a9810cec0553a2d4bcb2a

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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