Manages the development, implementation and performance of select products supporting the retail Bank.
The position carries responsibly for ensuring delivery of the bank’s annual balance sheet and revenue objectives relating to personal products maximizing contribution to economic profit.
Impact on the Business
Manage the development and implementation of products, programmes and strategies designed to profitably manage the payments and F/X retail product set. Ensue strategic positioning of price and product features in a way that aligns to the Banks’ overall RBWM product strategy
Analysis and scenario modeling that facilitates a range of deliverables relating to Products and Customer Propositions. Examples are the following:
Financial planning cycles
Product manufacture & demise/rationalization
Analysis and reconciliation of net interest/ fee income by product
Conduct product ‘profiling’ on a periodic basis (range of behavioral analytics, price sensitivity, market trends etc)
Tactical and strategic price proposals etc
Customers / Stakeholders
Ensure close coordination of activities with Marketing, Data Analytics and Propositions, to foster a team approach in meeting product needs of customers with profitable, desirable, relationship-focused products. Deliver presentations, explain technical and processing complexities, complete Requests for Proposal and represent the Company at industry forums
Support bank marketing campaigns with product offers and positioning that align with the bank’s target customer segment and revenue projections
Track sales and program performance and adjust plans as necessary to ensure program success throughout the year
Work in partnership with appropriate delivery channels to respond to requests for new or enhanced products
Oversee the provision of product awareness training for customer facing and support staff
In conjunction with Corporate Marketing, oversee billing for products & services and the preparation of management information for sales and revenue tracking
Oversee third party vendor management, evaluation and implementation of application service providers and coordination of security and risk management
Leadership & Teamwork
Complete other responsibilities, as assigned
The position carries out overall strategic objectives and goals of the business and manages daily operations, seeking approval from higher management on significant matters, such as pricing changes. Decisions beyond assigned authority are referred to higher management for approval
Monitor external conditions, including markets, competition, demographics and regulations, to ensure products meet customer needs while maintaining market competitiveness and profitability. Ensure activities comply with pertinent external regulations
Ensure identification of cross-sell opportunities and development and implementation of related programs
The RBWM business continues to operate under a challenging rate environment.
Overall product spreads remain tight and at near historic lows given the financial turmoil of 2008-09, coupled with intense competitive pressure.
Going forward it is critical that this book of business is managed to ensure pricing that protects both the Bank’s NII and annuity revenue streams and increasingly reflects customer value relationship pricing that aligns behind our core customer propositions.
This will help drive overall profitability as well as ensure that the rationalization work rightly aligns behind core propositions
As the RBWM business works to acquire the right type of new customer and capture greater share of wallet from our existing base, increasing strategic focus and resource is now being marshalled to build and support HBCA’s core customer propositions – Premier, Advance and
As both product development and marketing align behind these customer propositions, the deposits team needs to ensure that overall pricing for HBCA products as well as feature set broadly align with a ‘good, better, best’ positioning
The position carries out overall strategic objectives and goals of the retail business and manages daily
Operations, seeking approval from higher management on significant matters, such as pricing changes
Decisions beyond assigned authority are referred to higher management for approval
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
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
A Bachelor’s degree from a recognized tertiary institute or equivalent experience in business, financial services or related field is required
Sound and thorough knowledge of payments and f/x in the retail banking services industry in
, the products offered and pertinent regulations affecting their delivery
Seven years+ proven and progressively responsible experience in the financial services industry with emphasis on business development, product management, finance and profitability
The post is a blend of both business and IT/operations and requires a person equally comfortable working alongside business (product, marketing, sales) and IT and operations functions to deliver innovative products to market in support of the Bank’s principal customer propositions.
The role requires the post holder to be able to articulate business requirements to IT colleagues, understand thoroughly the sales and sales fulfillment process as it relates to deposit and credit products
Superior strategic planning, analytical, statistical, project management skills as well as excellent written and verbal communication skills are a must; strong cognitive skills; an understanding of the strategic goals of retail banking
Proven strong inter-personal and influencing skills that demonstrate an ability to build consensus across a diverse group of stakeholders; strong management, negotiation networking skills to be able to work in a complex environment where matrix management and competing priorities are a reality to deal with each day.
The person must be a strong manager of people, an organizational team player able to build a cohesive team that fosters high performance and a strong customer focus
The post holder must be a well rounded individual capable of handling many competing demands.
He/ she must have a proven track record in developing and implementing deposits products that deliver competitive advantage for the Bank to drive sales and revenues as well as superior customer service
This post operates in a fast paced environment and requires a person who is a self-starter, is highly motivated to do well, welcomes targets and accountability for meeting them and is proactive in delivering superior products and service for our customers