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||New York, NY
|| Accounting/Auditing, Banking, Finance/Economics, Financial Services, Information Technology, Insurance, Legal, Retail/Wholesale, Sales, Executive Management, Research & Development
Regional RBWM Chief Operations Officer|
Responsible for Retail Banking & Wealth Management (RBWM) operations both direct and indirect. The U.S. is a designated turnaround market with a very high level of internal and external scrutiny. The role oversees performance tracking of RBWM to ensure achievement of annual plan and to position HSBC for long-term sustainable growth. Serves as member of RBWM Senior Leadership team and the managing and interpreting data and management and business information understanding to direct strategy and implementation of plans by RBWM leadership to improve business performance. The role encompasses all lines of business and customer segments in its objectives to create an efficient and effective business model. In addition, this role has a close relationship with Finance and is central to making the link between management information and targeted action plans to improve business performance and efficiency.
Impact on the Business
- HSBC remains under intense regulatory scrutiny and the role holder is accountable for ensuring that RBWM is fully compliant. Failure in doing so would have a significant financial impact to HSBC and reputational risk at Group level.
- Work closely with business CEO to bring about significant change required to move the business to profitability while ensuring full "safety and soundness".
- Work with RBWM Group COO to establish improved management and administrative procedures to ensure RBWM as a whole manages operational risk in an optimal way in adherence to Group Policies based on best practice in the USA.
- Drive strategic initiatives across RBWM businesses to deliver Plan performance.
- Oversee transformation of RBWM business with effective implementation of relevant Target Operating Models.
- Provide data and analysis to ensure optimization of all RBWM retail deposit and lending products, including pricing, to achieve maximum returns.
- Direct enforcement of appropriate procedures and controls to ensure full adherence to Group, legal and regulatory requirements across all RBWM functional areas, including the branch network.
- Direct and promote a data-driven decision-making culture through provision of accurate, timely and insightful information to all levels of management and individuals across RBWM.
- Oversee continual evaluation of processes and services across functions to streamline the Retail Bank in support of RBWM strategy.
Customers / Stakeholders
- Key executive in managing numerous regulatory relationships with authorities such as the OCC and the Federal Reserve Bank. Key interface on all operations issues with regulators. Key executive responsible and named for delivery of numerous regulatory projects
- The role holder is directly accountable for significant streamlining initiative
- Manages key relationships such as operations vendors (direct and indirect)
- Communicate and align internal stakeholders towards specific RBWM goals to ensure operating objectives and performance standards are understood and owned by the partners
- Maintain strong relationships with key partners, Legal, Compliance, Finance, Centers of Excellence as well as RBWM leadership at a country, Regional and Group level
- Develops knowledge of client needs & requirements in order to aid in the development of wealth management strategy
- Provides recommendations to RBWM senior leadership in order to enhance business growth and market competitiveness as well as expand customer relationships and meet customer needs
- Develop knowledge of wealth customer base, market trends, and competitor activities in order to influence the continuous improvement in people & process
Leadership & Teamwork
- Build long-term relationships with all stakeholders and strategically influence and leverage the matrix organization to achieve business results
- Drive use of cross-border best practices when designing and implementing strategy
- Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices
- Promote an environment that supports diversity and reflects the HSBC brand
Operational Effectiveness & Control
- Primary responsibility for all cost programs in RBWM for the North America Region
- Fundamental participant in setting the RBWM Business Strategy
- Resident expert and executive in control of delivering operational change initiatives
- Establish an appropriate structure and put in place effective controls to ensure full adherence to Group, legal and regulatory requirements including Anti Money Laundering/Know Your Customer across all RBWM functional areas including the branch network
- Oversee streamlining of RBWM product and service offerings to align with propositions and evaluate processes and procedures in alignment with strategy to improve business performance
- Manage and complete the oversight function to meet regulatory and Board requirements
- Implement and ensure adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators
- Complete other responsibilities, as assigned
- Establish policies and a culture to attract and retain top talent in a very competitive environment for staff with the skills and experience required
- Extremely complex regulatory challenges with high standards to be achieved across all aspects of the business with significant consequences for falling short of the standard required
- Standardizing and rationalizing the operational model for RBWM to achieve economies of scale on a country basis
- Achieving annual US and Canada RBWM financial goals, during economic, competitive and regulatory pressures
- Transformation of RBWM - changing from one size fits all to an appropriate segmented offering that meets their financial planning needs, with offerings such as Mortgages, Life Insurance, Pensions and Investments
- Providing supporting data to allow executive leadership to focus on the most efficient and effective channel to deliver reductions in cost and increases in sales efficiency
- Managing by influence, working in close collaboration with customer strategy managers, etc.
- The position leads a large organization comprised of diverse functional teams with varied experiences and skills, ranging from complex analytical modeling to a more routine operations function
- The position manages culturally diverse teams in a matrix reporting structure
- The position is responsible for creating and enforcing scalable processes and structures that allow the organization to meet all legal, regulatory and Group requirements, while simultaneously providing enough adaptability to the fast-changing macro environment, competitive pressures and internal strategies
- Driving strategy to leverage multiple delivery channels, creating value and competitive advantage in our target markets and in partnership with RBWM leadership team to deliver a truly differentiated service proposition
- Working collectively with colleagues and key stakeholders and optimizing use of Group facilities and scale to gain competitive advantage
Management of Risk
- Ensure employees apply compliance and operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues
- Continually reassessing 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 restructures and impact of new technology. This is achieved by ensuring all actions take account of the likelihood of operational risk occurring and addressing any areas of concern in conjunction with line management and 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
- This will be achieved by adhering to all relevant processes/procedures and working with Compliance on new business initiatives as soon as possible
HSBC is blazing the trail for African-American colleagues, check it out:
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Qualifications & Requirements
Knowledge & Experience / Qualifications
- Minimum of fifteen years proven and progressive analytical, planning and project management experience within a marketing and project management function or equivalent, including a minimum of seven years proven management experience or equivalent
- Minimum of a bachelor’s degree in business, related field or equivalent experience
- Strong managerial, communications, project management, organizational, lateral thinking, strategic planning, analytical, mathematical, decision-making, interpersonal and leadership skills
- Proven track record in leading and managing change, particularly given the organization’s continually evolving nature
- Strong business acumen and ability to continually make trade-off decisions
- Comprehensive knowledge of retail banking and wealth management trends and all aspects of the regulatory environment at a great level of detail
- Ability to seek out and improve on best practice and capability
- Sound understanding of the Regional RBWM network, customer segments, products offered and competitive market
- Ability to build long-term relationships with all stakeholders (customers, employees, peers, etc.)
- Series 6, 63, Life and Health Insurance licenses are optional and are not required for this role
- Physical Demands/Work Environment: Very good working conditions. Little or no physical demands. Minimal handling of light materials. 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.