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North America-United States-California-WALNUT
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 and advising the client on a variety of potential banking solutions, and embedding client loyalty by meeting their needs either directly or through other internal business partners.
The Premier Relationship Manager (PRM) will identify and refer wealth solutions to Premier Relationship Advisors and Premier Wealth Advisors to best meet the client’s needs. The identification and referral of opportunities for wealth reviews and solutions are amongst the key activities to achieve goals and in compliance with local regulatory requirements.
In order to deliver the business objectives, PRM 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.
In delivering the business objectives, PRM must also
maintain the levels of operational integrity required by HSBC Group, closely managing individual and collective performance of the wider team. Creating and maintaining an environment and relationships where the wider Branch team maximizes performance in achieving RBWM business
Accountable for the performance of portfolio of clients – need to ensure it is effectively managed in adherence to the Target Operating Model (TOM) as defined by HSBC Group.
Premier Relationship Manager will manage the relationships for all Non-Wealth Premier clients (not including those currently housed within Premier Relationship Advisor and Premier Wealth Advisor portfolios). When a wealth need is identified, Premier Relationship Manager will refer the client to Premier Relationship Advisor while continuing to manage the retail portion of the relationship.
Refer investment opportunities to Premier Relationship Advisors and Premier Wealth Advisors pursuant to appropriate FINRA registrations under HSBC Securities (USA) Inc. ("HSI").
Refer insurance opportunities to Premier Relationship Advisors and Premier Wealth Advisors pursuant to contracted insurance carriers appointed by HSBC Insurance Agency (USA) Inc. ("HIA").
Refer mortgage products to other specialized product areas, such as Consumer Mortgage, as required.
Impact on the Business
Maximize profit and achievement of the growth of Premier client’s portfolio.
Develop existing and new relationships and build effective relationships with clients to retain and
develop sustainable relationships.
Demonstrate excellent analysis and understanding of client needs, recommend appropriate products and services, and achieve closure of sales - this excludes the sales of investment and insurance products; refer to Premier Relationship Advisors and Premier Wealth Advisors.
Excludes the sales of Consumer Mortgage Products;
refer to other specialized product areas, such as Consumer Mortgage, as required.
Through disciplined portfolio management, develop strategies to increase wallet share of existing clients and actively manage a prospect pipeline.
Regularly meet with clients to understand and analyze their current and long term needs and 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.
Represent the Company on community organizations and activities to enhance the Company's image and promote and develop additional business through the development and expansion of referral sources. Refer to the HNAH Code of Ethics policy and Wealth Management Staff Dealing policy including Outside Business Activity (OBAs) to ensure that above community and outside activities do not present an actual or potential conflict of interest and do not have an adverse impact with respect to job responsibilities at HSBC. HSI Supervisor and Compliance should be
consulted in addition to review of Code of Ethics policy and Wealth Management policy for Outside Business Activity.
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 system, ensuring all client information is
complete and kept up to date.
Customers / Stakeholders
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 revenue for RBWM 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 referral of customers to other sales representatives of HSBC Securities (USA) Inc. through proper customer profiling.
Conducts needs assessment with current and potential company customers and refer to Premier Relationship Advisors and Premier Wealth Advisors for appropriate investment and insurance products to meet individual needs, based on objectives, risk tolerance and proper asset allocations. Sell appropriate core financial services products to meet customer needs while developing and expanding account relationships (excludes sales of Consumer Mortgage Products, investment and insurance products). Sales of Consumer Mortgage Products; refer to other specialized product areas such as Consumer Mortgage, as required.
Ensure adherence to established referral structure on investment and insurance products.
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.
Incumbent will be measured on the activity of identifying and referring investment and insurance customers to Premier Relationship Advisors and Premier Wealth Advisors. Expected referral activity will be tracked as part of the role Key Performance Indicators (KPIs).
Leadership & Teamwork
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.
The jobholder forms an integral part of the wider HSBC relationship management team. As part of this wider team the jobholder is expected to identify opportunities in their day to day activities that directlyor indirectly contribute to the success of colleagues with differing responsibilities, particularly in other areas of HSBC such as Commercial and Private Bank.
Operational Effectiveness & Control
Ensuring that HSBC Bank plc FIM, BIM and Credit Policy Manual appropriate lending guidelines are followed.
Compliance to KYC requirements, credit, service standards and reducing operational losses.
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.
To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
Complete other responsibilities, as assigned
The Company 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 to enhance that value.
Increasing net Premier clients
Increasing total client relationship balances during tough economic times
The range of competitors and products has established an increased financial awareness in clients, creating demand for increased experience and skill at PRM level.
Own and manage a portfolio of clients working with the wider RBWM team.
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 Hold Lending Approval authorities appropriate to their role.
Operates within the approved operating and strategic plan process to develop the RBWM business.
Recognize responsibility to the community in which he/she operates and improve the bank’s profile within those communities
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.
Ensure the fair treatment of our clients is at the heart of everything we do, both personally and as an organization.
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 restructuring, and the impact of new technology.
This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
Address 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.
Adhere 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.
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 communication 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.
The incumbent will ensure 100% adherence to completion of HSBC mandatory training and any
required compliance and risk-related training courses.
Minimum of 5 years proven and progressive financial services and/or retail sales experience or equivalent, including evidence of strong sales results and knowledge of insurance and investment products for referral purposes.
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 for self-study, with no client contact). Licenses are required to discover and refer investment and insurance opportunities with potential and 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.
Ability to use customer relationship management systems.
Understanding of business banking customer segment and products and services appropriate to compliment
A strong sense of ownership, responsibility and accountability.
An excellent understanding of financial planning, wealth management and understanding client needs.
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)
Analysis and Advice
Communicating & influencing
Premier products and services
HSBC services and propositions
Risk and compliance
Tools and systems
Note: Capability Requirements
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