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Job Title: Wealth Management Insurance Consultant
Company Name: HSBC
Location: New York, NY
Position Type: Full Time
Post Date: 03/18/2018
Expire Date: 04/17/2018
Job Categories: Accounting/Auditing, Finance/Economics, Financial Services, Information Technology, Installation, Maintenance, and Repair, Insurance, Legal, Sales, Executive Management, Research & Development
Job Description
Wealth Management Insurance Consultant
The role is a specialist/consultant role that is part of the Wealth sales force, and is expected to be a technical expert in Insurance Product.
PE is usually deployed to add value to clients with more complex needs, e.g. top-tier and mid-tier Premier clients and is assigned to a team of Advisors.Whilst Advisors own the end-to-end advisory and sales process with clients, PE assists Advisors in understanding clients better, meeting clients together with Advisors when required, making suitable recommendations and helping clients understand the value and risks of solutions available to them.
At times the PE may also conduct product training to support and deliver new product launches and lead client education events to help client gain better knowledge of financial markets and financial solutions. PE also needs to follow the needs-based sales process, giving clients a meaningful and consistent wealth experience and ultimately providing an outstanding client experience.
The jobholder is expected to support Advisors to gain more client trust and commitment in broadening and deepening their relationship with HSBC.
Impact on the Business
  • Strengthen HSBC’s image as a leading wealth provider by providing clients with access to advanced technical product expertise.
  • Support Advisors to gain more clients’ confidence and trust in HSBC capabilities and increase the effectiveness and quality of needs fulfilled for target clients in need.
  • Assist Advisors in deepening and growing client relationships through identifying and uncovering client's needs, identifying relevant wealth solution and technical analysis, and assisting Advisors in presenting and explaining solution(s) to client.
  • Conduct portfolio reviews with Advisors, assess product suitability and market and regulatory change impact to products held by clients as appropriate, identify opportunities and manage risks.
  • Join Advisors in meeting clients and provide advice, input based on technical knowledge while acting as a second point of contact to Advisors for specific products and solutions;
  • Improve Advisors’ product specific technical knowledge by effective on-job coaching and training.
Customers / Stakeholders
  • Communicate effectively with clients on complex technical subjects, helping them to improve understanding of financial markets and the value and risks of financial solutions through educational events.
  • Initiate and conduct educational events with clients to improve clients’ financial literacy and knowledge of financial markets and solutions.
  • Continue to develop and sharpen technical expertise, working closely with the Wealth Distribution team and product manufacturers e.g. AMG, HSBC Insurance, and third party product partners to help improve client satisfaction and outcome.
  • Identify and provide feedback from Advisors and clients to product teams in order to continuously improve our products and services.
  • Collect and apply market and channel intelligence to identify and share competitive gaps, service issues, business opportunities, and challenges with stakeholders.
  • Work with Advisors to follow through execution of the product contract presented to clients where technical expertise is required.
  • Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
Leadership & Teamwork
  • Maintain and enhance assigned Advisor’s technical knowledge and skills via strong connectivity with Wealth Distribution
  • Ambassador for HSBC values and create an inclusive work environment which embraces diversity and fosters engagement
  • Strong team player that deploys time strategically and commercially in order to support your team
  • Proactively work with a team of Advisors to provide  client centric services and solutions
  • Partner with Sales Managers to identify and manage product specific needs and risks in the portfolios of Advisors
  • As for Specialist Individual Contributor, but in a leadership role e.g. is a highly specialized resource/ manages a complex technology.
  • Provide technical leadership and support technical excellence by searching out external best practice, monitoring technical and professional developments, sharing knowledge and encouraging others to do the same in the best interests of HSBC and its customers.
  • Encourage and enable constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and challenging actions and behaviors that are not consistent with HSBC's diversity policy and/or the best interests of the business and its customers.
Operational Effectiveness & Control
  • Actively support Advisors to offer clients solutions that meet their needs and risk profile
  • Maintain a high level of technical expertise by working closely with product team and product providers
  • Ensure all processes and procedures are accurate and in accordance with  the RBWM policy standards and regulatory requirements
  • Comply with local regulations in all aspects of strategy, sales processes, product suitability, client correspondence, financial promotions, administration, and complaint handling
  • Adhere to all relevant processes and procedures of the Group compliance policy and internal controls
  • Contribute to HSBC by creating and retaining market leading standards and controls
  • As for Specialist Individual Contributor, but in a leadership role e.g. is a highly specialized resource/ manages a complex technology.
  • Develop and recommend changes and improvements to operating models, procedures and practices based on subject matter expertise and understanding of HSBC and market best practice.
  • Communicate and adhere to HSBC policy and procedures in order to ensure good operational, financial and project management, policy and procedural compliance and early identification and effective resolution or escalation of issues that arise.
  • Contribute to the development, implementation and maintenance of a management information, analysis and reporting framework that supports and informs timely and effective business management and decision making at all levels.
  • Contribute to the implementation and monitoring of the application of policies, governance frameworks, procedures, practices and standards to ensure quality, effective risk management and regulatory compliance.
Management of Risk
  • The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation.
  • This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
  • The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence’. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required.
  • Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite.
  • The following statement is only for roles with core responsibilities in Operational Risk Management (Risk Owner, Control Owner, Risk Steward, BRCM, and Operational Risk Function
  • The jobholder has responsibility for overseeing and ensuring that Operational risks are managed in accordance with the Group Standards Manual, Risk FIM, & relevant guidelines & standards.  The jobholder should comply with the detailed expectations and responsibilities for their core role in operational risk management through ensuring all actions take account of operational risks, and through using the Operational Risk Management Framework appropriately to manage those risks.
This will be achieved by:
  • Continuously reassessing 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.
  • Ensuring all actions take account of the likelihood of operational risk occurring, addressing areas of concern in conjunction with Risk and relevant line colleagues, and also by ensuring that actions resulting from points raised by internal or external audits, and external regulators, are correctly implemented in a timely fashion.
Observation of Internal Controls
  • The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures.
  • The jobholder will implement the Group compliance policy by adhering to all relevant processes/procedures. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. 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 following statement is only for roles with managerial or specific Compliance responsibilities
  • The jobholder will implement measures to contain compliance risk across the business area. This will be achieved by liaising with Compliance department about 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 optimising relations with regulators.

HSBC is blazing the trail for African-American colleagues, check it out: https://youtu.be/NnvZ77DbfXQ

As you complete your online application, please use source code: Historically Black Colleges and Universities. If you would like to notify HSBC's Diversity Recruiting team of your application, please e-mail diversity.recruiting@us.hsbc.com.

Qualifications & Requirements

  • Minimum of five years of working experience as a financial advisor with an expertise in Insurance
  • Able to influence, engage and lead in a positive, inspiring manner
  • Thorough knowledge of the local regulatory requirement including sales process, pertinent regulations impacting retail banking activities and delivery systems and channels, including market potential as well as the regulatory framework
  • Expertise in Insurance Product
  • Strong client skills with the ability to deliver a strong client experience and provide needs-based solutions
  • Analytical skills to review opportunities in Advisor portfolios and engage in client meetings
  • Extensive external market awareness of market conditions, financial planning environment, new product solutions, and an understanding of current financial market activities
  • Demonstrated ability and experience to correctly identify client needs
  • Solid skills to manage consultative sales process
  • Team player with collaborative skills
  • Requires Series 6, 63, Life and Health

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Company Name: HSBC
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