Title: VP Premier Relationship Mgr
Location: North America-United States-Florida-Aventura
Job Number: 00002FT6
The role is a client facing role managing our highest value clients where professionalism, client focus and a broad understanding of the fundamentals of financial planning are critical to the success of the business. The role holder has a responsibility to acquire, advise, and retain a portfolio of Premier clients, working with the broader branch and direct teams to ensure achievement of the business performance measures and plan (as defined by RBWM).
This will be achieved by active management of a portfolio of Premier clients, acquiring new HSBC clients and upgrading existing clients through becoming the trusted advisor to them. It will also entail regularly updating and analyzing client financial information to identify wealth solutions that best meet the client’s needs, advising the client on a variety of potential wealth solutions, and embedding client loyalty by meeting their needs either directly or through other internal business partners.
In order to deliver the business objectives you will need to refer non-qualified business to appropriate parties following proposition protocol and attract business with new clients by understanding their financial needs and delivering high standards of service quality. The identification of opportunities for wealth reviews and delivering wealth solutions as an adviser are amongst the key activities to achieve your goals.
In delivering the business objectives you must also maintain the levels of operational integrity required by HSBC Group, closely managing your individual and the collective performance of your wider team. Creating and maintaining an environment and relationships where you and the wider Branch team maximize performance in achieving the RBWM business objectives.
The identification of opportunities for wealth reviews and delivering wealth solutions as an adviser are amongst the key activities to achieve your goals as complied with local regulatory requirement.
You are accountable for the performance of your portfolio and need to ensure it is effectively run managing to the Target Operating Model (TOM) as defined by HSBC Group.
Impact on the Business
· Maximize profit and achievement of the growth of Premier clients portfolio
· Develop existing and new relationships
· Build effective relationships with clients to retain and develop sustainable relationships
· Regularly meet with clients to understand and analyze their current and long term needs and advise them on the products and services that help them achieve their goals
· Effective use of tools and information to drive client service delivery and RBWM performance
· Maintain a minimum standard of qualifying Premier clients within portfolio as stated by Group
· Build a high personal and corporate profile in the community in which you are based. Develop network of Group and External professional contacts with the aim of introducing new business, enhancing technical knowledge and promoting the brand
· Monitor and act on daily information, using it to coach the wider Branch team in support of business goals
· Establish client contact strategies in line with Group operating models
· Fully utilize and input to Client Relationship Management data, ensuring all client information is complete and kept up to date
Customers / Stakeholders
· Own the client relationship with HSBC
· Maintain a deep understanding and technical knowledge of relevant products and services available from Group sources and elsewhere in order to provide the best solutions for clients and maximize revenues for Global Wealth and the Group
· Maintain highest standard of excellence in client service across the team and with individual portfolio - Ongoing analysis of client portfolios through marketing of ideas and researching clients
· Monitor client satisfaction data implementing portfolio level improvements
· Work with the broader branch, support and direct teams to ensure achievement of the business performance measures by recommending differentiated products and services to the client
Role as a broker-dealer Registered Representative
· Identify cross-sell opportunities, including opportunities to refer customers to other sales representatives of HSBC Securities (USA), through proper customer profiling and needs-based selling
· Conduct needs assessment with current and potential Company customers and recommend appropriate investment and insurance products and services to meet individual needs, based on objectives, risk tolerance and proper asset allocations
· Sell appropriate core financial service products, including investment and insurance products, to meet customer needs while developing and expanding account relationships
· Ensure adherence to established investment and insurance product set and selling limitations
· Comply with Company Nondeposit Investment Product policies and procedures, including the requirements of the Interagency Statement on Retail Sales of Nondeposit Investment Products. Unless otherwise assigned on an individual basis in writing, role does not include management and supervision of investment and insurance activities and sales, which lies within the brokerage business and supervisory structure of HSBC Securities (USA) Inc. as determined by its senior management
Leadership & Teamwork
· To work as part of an integrated branch management team to ensure standards and are met and operating models delivered
· Proactively support others through direct and indirect actions beyond activities particular to this role
· Collaborate with the wider team to deliver the Branch RBWM Performance measures and plan to support the multi channel client journey
· Establish and maintain strong working relationships with colleagues in the wider RBWM businesses and others as appropriate to service client needs
Operational Effectiveness & Control
· Ensuring that HSBC Bank plc FIM, BIM and Credit Policy Manual appropriate lending guidelines are followed
· Agree and manage lending facilities within any agreed Approval Authority (RAA)
· Manage operational risk, by using relevant Management Information (MI) to identify risk situations and take any appropriate action to minimize loss
· Adhere to selling process and sales quality requirements
The bank seeks to grow its RBWM business through an efficient operation and the pursuit of providing clients with globally consistent experiences, excellent service, and advice on products and services appropriate to client needs in order to enhance that value. In the face of fierce competition in this segment the bank is seeking to grow the significance of this group in their contribution to our business.
The Premier segment typically comprises clients with Total Relationship Balances of $110k or more.
We should also recognize our responsibility to the community in which we operate and improve the bank’s profile within those communities building economic value for the bank and its shareholders.
The range of competitors and products has established an increased financial awareness in clients, creating demand for increased experience and skill at PRM level.
A Premier Relationship Manager requires the following key attributes:
· An excellent understanding of financial planning, wealth management and understanding client need
· Excellent relationship management and people management skills
· Client driven with a strong focus on quality of service
· Strong interpersonal communication skills
· A strong sense of ownership, responsibility and accountability
· An excellent understanding of financial planning, wealth management and understanding client need
The jobholder forms an integral part of the wider HSBC management team. As part of this wider team the jobholder is expected to identify opportunities in their day to day activities that directly or indirectly contribute to the success of colleagues with differing responsibilities, particularly in other areas of HSBC such as Commercial and Private Bank.
The jobholder will own and manage a portfolio of ### clients working with the wider RBWM team.
The jobholder has prime responsibility for:
· Maximizing growth in their portfolio and achieving the RBWM plan/metrics
· Leading Premier activities to ensure opportunities are identified and client needs are met effectively, maximizing all available resources
· Compliance with the relevant Group standards including GHQ and the Regulatory organization as applied to the implementation of the RBWM strategy in their country
· Portfolio income of $xx k or million (Interest & Fees)
Jobholder will hold Lending Approval authorities appropriate to their role.
The job holder operates within the approved operating and strategic plan process to develop the RBWM business.
Management of Risk
· Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues
· Promote an environment that supports diversity and reflects the HSBC brand
· The jobholder will ensure the fair treatment of our clients is at the heart of everything we do, both personally and as an organization
· The jobholder will also continually reassess the operational risks associated with the role and 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
· This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring
· Also by addressing any areas of concern in conjunction with line management and/or the appropriate department
Observation of Internal Controls
· Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators
· The jobholder will also adhere to and be able to demonstrate adherence to internal controls and credit policies. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators
· The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply
· This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimizing relations with regulators
· Minimum of five years proven and progressive financial services and/or retail sales experience or equivalent, including evidence of strong sales results in insurance and investment products and ability to close a sale; relationship management experience with high net worth customers or equivalent
· Bachelor’s degree or equivalent experience
· Series 6, 63, Life and Health Insurance licenses required. On an exception basis, a 60 day contingency may be granted solely at management's discretion (this period is full-time study, with no client contact). Licenses are required to discuss and sell investment or insurance products with potential or existing customers
· Strong sales, communication, cross-selling, sales planning, mathematical, decision-making and analytical skills
· Strong relationship management/building, customer service, time management and prioritization skills
· Broad knowledge of financial services products and services and the customer relationship management system
· Understanding of business banking customer segment and products and services appropriate to compliment Premier offerings
· Incumbents in this role must successfully register with the Nationwide Mortgage Licensing System Registry (NMLSR) and must obtain a unique identifier through the registry that will be provided to consumers with whom the incumbent interacts. In addition, incumbents in this role must successfully renew their registration with the Nationwide Mortgage Licensing System Registry (NMLSR) annually
· Have an understanding of the immediate regional Global Wealth strategy and the ability to plan own activities accordingly
· Be ambitious about providing the highest standards of delivery to colleagues and clients
· Show ability to set stretch goals for self and the ability to deliver these with courage and tenacity
· Be authentic and show ability to engage with colleagues and clients to deliver at pace
· Make considered decisions that protect HSBC & Global Wealth values, reputation and businesses
Global Wealth Management - Relationship Manager Technical Capabilities (refer to PRM Capability Framework for more details)
· Client Skills
· Client focus
· Portfolio management
· Analysis and Advice
· Communicating & influencing
· Marketplace knowledge
· Business understanding
· Premier products and services
· HSBC services and propositions
· Risk and compliance
· Business processes
· Tools and systems
· Language, Spanish required
Job: Retail / Branch Banking