Vice President Wealth Insurance
- Mumbai, Maharashtra
- Permanent
- Full-time
customers to take care of their day-to-day finances and to manage, protect and grow their wealth. Our international network and breadth of expertise enable us to deliver on HSBC's purpose of opening
up a world of opportunity by providing our customers with borderless banking and world-class wealth management through best-in-class, mobile-first capabilities and exceptional people. Our key areas of operations include Retail Banking and Wealth Management, Asset Management, Global Private Banking and Insurance.Principal ResponsibilitiesP &L and Regulatory Management
- Income Provisioning and GST Submission: Ensuring accurate income provisioning and timely GST submissions to maintain financial integrity and compliance
- Regulatory Reporting/ Compliance: VP Wealth Insurance is the Principal Officer responsible for regulatory compliance and timely submission of regulatory reports in line with IRDAI guidelines to prevent non-compliance issues. The regulator mandates a dedicated Principal Officer who is independently responsible for all activities of the corporate agency license
- Franchise Development: Leading the development of INM's Wealth Insurance Products franchise to drive sales and expand market presence
- Global Wealth Strategy Implementation: Aligning country-specific strategies with global wealth strategies, ensuring consistency in product, pricing, promotion, and platform/channel strategies
- End-to-End Product Launch: Overseeing the entire product lifecycle, from ideation to governance approvals, launch, and commercialization, including drafting product approval papers
- Sales Enablement and Marketing: Planning and executing marketing activities and sales enablers to support product commercialization
- Penetration and Share of Wallet: Implementing strategies to increase product penetration across segments and enhance the share of wallet from existing customers
- Network Training and Alignment: Ensuring product strategies align with client requirements and that the network is well-trained
- Data and Analytics Collaboration: Working with the data and analytics team to provide frontline staff with relevant triggers, enhancing sales effectiveness
- Distribution Coordination: Driving the distribution of wealth insurance products across offline and online channels in coordination with channel managers and sales teams
- Insurer Relationship Management: Conducting third-party due diligence activities to ensure robust insurer relationships. Responsibility of managing Archer and RiskFlo for current engagement with Canara HSBC Life
- Global and Local Stakeholder Management: Managing relationships with both global and local stakeholders, ensuring adherence to Group strategy and policies
- Operational Controls and Governance: Maintaining operational controls and managing approvals/changes in line with governance requirements
- At least 10-12 years of relevant experience in a Bank of NBFC managing Wealth Insurance
- MBA from a reputed institute preferred, Post Graduate Degree (preferably in Economics, Mathematics, Finance) or professional qualifications like CA is preferred
- Strong analytical and problem-solving skills
- Demonstrate behaviours consistent with HSBC Values
- Skills in product management, financial planning and communication
- Industry and sector knowledge
- Knowledge of sales and service techniques and models
- Excellent interpersonal skills
- Presentation, Data management and Product analysis knowledge
- Planning and organising skills
- Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required