Vice President Premier Relationship Advisor - HSBC - Chicago, Illinois - EXPIRED
Posted on: 05-19-2020 in Chicago, Illinois
This is an archive of an expired job.
Job Information:
Company: HSBC
North America-United States-Illinois-Arlington Heights
This role is a remote-based client facing role
managing Wealth Management clients where professionalism, client focus and a
broad understanding of the fundamentals of wealth planning are critical to the
success of the business.
The role holder has a responsibility to advise
and retain a portfolio of Wealth Management clients, working with the broader
branch teams to ensure achievement of the business performance measures and
plan (as defined by Retail Banking & Wealth Management (RBWM). This remote
advisor will be responsible for covering branches in which an on-site advisor
is not available. The branch network holds the overall responsibility to refer
customers to the remote advisors.
The role holder will represent HSBC Securities
(USA) Inc., HSBC Bank USA, N.A. and HSBC Insurance Agency (USA) Inc. This will
be achieved by active management of a portfolio of Premier and certain
non-Premier clients, acquiring new HSBC clients and upgrading existing clients
through becoming a trusted advisor to them. It will also entail regularly
updating and analyzing client financial information to identify bank, lending,
and wealth solutions that are suitable to meet the client’s needs, advising the
client on a variety of potential bank, lending and wealth solutions, and
encouraging client loyalty by addressing their needs either directly or through
other internal business partners. Mortgage to be referred to appropriate
Mortgage staff. Referrals to on-site advisors will be another key
responsibility.
This position provides financial solutions (appropriate with securities
registration, insurance and state licenses) to current and potential Premier and
certain non-Premier customers through the services and products of RBWM. The
Advisors are assigned Premier and certain non-Premier wealth clients and are
expected to seek opportunities to attract, develop and retain these clients and
expand the portfolio of clients by providing wealth, bank (checking, savings)
and personal lending solutions. The identification of opportunities for wealth
reviews and delivering suitable wealth solutions as an advisor are amongst the
key activities to achieve goals and in compliance with local regulatory
requirements.
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.
Impact on the Business
- Build
deep, long-lasting and mutually valuable relationships with Premier and
certain non-Premier customers.
- Achieve
agreed KPI (Key Performance Indicator) objectives by development of
existing and new Premier certain non-Premier relationships.
- Address
identified needs for banking clients.
- Through
a defined sales process, recommend depository, personal lending and
investment and insurance solutions designed to meet customer’s protection,
education, retirement, legacy, basic banking, property, and lifestyle
needs while also helping customers manage and grow their wealth. Mortgage
to be referred to appropriate Mortgage staff.
- Regularly
meet with clients via video conference or phone, to understand and analyze
their current and long term needs and advise them on the products and
services that help them achieve their goals.
- Refer
business to other areas within the bank as appropriate, in accordance with
established guidelines.
- Complete
all activity documentation to provide a record for performance tracking.
- Assist
in targeting future opportunities.
- Establish
client contact strategies in line with Group Operating Model.
- Fully
utilize and input 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 authorized relevant
products and services available from the RBWM affiliates in the US for Wealth
Management clients to provide suitable recommended solutions for clients
and maximize revenues for Wealth and the Group.
- Maintain
highest standard of excellence in client service across the team and with
individual portfolio. Complete ongoing analysis of portfolios of client
relationships through marketing of ideas and researching clients.
- Provide
quality service in meeting customer needs, inquires and problems of a
complex nature; maintain contact with existing customers and referral
sources on an on-going basis to identify new or additional needs.
- Conduct
full needs assessment with current and potential Premier and certain
non-Premier customers and recommend appropriate banking, lending, investment
and insurance products and services to meet individual needs, based on
objectives, risk tolerance and proper asset allocations. Mortgage to be
referred to appropriate Mortgage staff.
- Manage
assigned wealth client's full relationship, including banking and lending
such as credit cards and select credit and investment/insurance
components, seeking opportunities to attract new clients as well as retain
and expand relationships with existing clients. Mortgage to be referred to
appropriate Mortgage staff.
Leadership & Teamwork
- Work
as part of an integrated remote management team to ensure standards are
met and operating models delivered.
- Proactively
support others through direct and indirect actions beyond activities
particular to this role.
- Establish
and maintain strong working relationships with colleagues in the wider
RBWM businesses and others as appropriate to service client needs.
- Represent
the Company in community organizations and activities to enhance the
Company's image and maintain and enhance a referral network for additional
relationship opportunities. 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.
- Coach
branch-based licensed sales professionals in assigned branches regarding
appropriate referrals.
Operational Effectiveness & Control
- Maintain proper documentation following preset guidelines
established by Compliance and Management.
- Understand and adhere to Group and Company policies and
procedures, and meet all required mandatory training 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.
Major
Challenges
- 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 new Premier clients and certain non-Premier clients.
- Increasing total client relationship balances during tough
economic times.
Role
Context
- The jobholder will own and manage a portfolio of clients
working with the wider RBWM team.
The jobholder has primary responsibility for:
- Maximizing
growth in their portfolio of clients and achieving the RBWM plan/metrics.
- Leading
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 the
US
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., The physical demands/work
environment described above are representative of those that must be met
by an employee to successfully perform the essential duties of the job.
Reasonable accommodations may be made to enable individuals with
disabilities to perform essential duties.
- Physical Demands/Work Environment: Very good working
conditions. Little or no physical demands. Minimal handling of light
materials. The physical demands/work environments described above are
representative of those that must be met by an employee to successfully
perform the essential duties of the job. Reasonable accommodations may be
made to enable individuals with disabilities to perform essential duties.
- 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.
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 Firm 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 liaising with Compliance department about new
business initiatives at the earliest opportunity and 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.
- 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.
- Bachelor’s degree in Business, Finance, related field or equivalent experience.
- Series 7, 63, 65 or 66 (in lieu of 63 and 65) and life and health insurance licenses.
- Minimum of three years proven nontraditional banking financial sales experience or equivalent.
- Evidence of strong client recommendation and sales results in wealth products.
- Equivalent relationship management experience in managing high net worth client portfolios preferred.
- Expert knowledge in wealth planning and wealth products.
- Sound knowledge of the impact of macroeconomics/microeconomics/local market developments.
- Expert knowledge of external regulatory framework relevant to wealth management.
- If internal, in-depth understanding of HSBC Global House Views.
- Strong client focus and ability to develop long term partnerships with clients.
- Ability to deliver needs-based solutions through effective communication, influencing, and sales skills.
- Local regulatory & license requirements - job holder should possess valid licenses with accreditation on wealth management and qualification as required by country.
- Clear view on how to work with Compliance, Credit & Risk and Internal Control to ensure a balanced risk operating environment.
- Strong sales, analytical, decision-making, interpersonal, leadership and communications skills.
- Relationship management experience with high net worth clients.
- Strong technical skills in wealth management.
- Proven client focus and influencing skills.
- Proven networking and portfolio management skills.
- Sound knowledge of financial services products and services and client relationship management systems.
- Understanding of banking client segment and products and services.
- Strong knowledge of investment products and services delivered, operations supporting them and pertinent regulations affecting their delivery.
- Ability to work in a team-based environment.
Leadership Capabilities
- 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.
EEO/AA/Minorities/Women/Disability/Veterans
If you would like to notify the Diversity Recruitment team of your application or if you are simply interested in learning about opportunities at HSBC, please email
[email protected]