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Wealth and Personal Banking (WPB) is our new global business combining Retail Banking and Wealth Management; and Global Private Banking, to become one of the world’s largest global wealth managers where wealth pools are growing faster than in any other region, Our dedicated colleagues serve millions of customers worldwide across the entire spectrum of private wealth, ranging from personal banking individuals and families, through to business owners, investors and ultra-high-net-worth individuals. We provide products and services such as bank accounts, credit cards, personal loans and mortgages, as well as asset management, insurance, wealth management and private banking that best suit our customers’ needs.
Role Purpose
- The bank primarily depends on the asset products (Mortgage, Personal Loans, Loan Against Securities etc) to build its assets business.
- The assets business is extremely technical and with each region of India operating under different local regulations.
- Accordingly, The Branch assets specialist is a subject matter expert is needed for the fulfillment of asset product applications sourced by Relationship Managers (RMs) building a support system to ensure seamless processing of these applications within the system.
- It involves interaction with various stakeholders both within HSBC and outside of HSBC ( Risk Team, Builders, Societies etc)
Principal Accountabilities
Impact on the Business / Function
- Responsible for Asset product disbursals of the Branch
- Back-end support to Branch RMs in the end-2-end process of sourcing to disbursal of any asset product applications.
- Effective co-ordination with internal & external stakeholders
- Regular monitoring of status of logged in applications.
Customers / Stakeholders
- Internal - Credit Risk Units, Legal & Branch staff
Leadership & Teamwork
- Developmental & coaching intervention for the branch RMs
- Effective co-ordination with all stakeholders
- Identify cross-sell opportunities for other product lines and sell / refer these to the RMs
Operational Effectiveness & Control
- Discrepancy rates in applications
- Fraud control
- Comply with the applicable laws, regulations, Group and local guidelines related to Sanctions and Anti Money Laundering policy of HSBC while undertaking various day to day operations
- Remain alert and promptly report to the Sanctions Officer/ Line manager ( As applicable and required by sanction Policy) if a customer is found to be engaging in sanction evasion activities or violations of Anti-Money Laundering (AML) policy or any other related procedures.
- Understand the legal responsibility to be vigilant for unusual activity and reporting of the unusual activities
- Support the Country or Regional Office/ AML Investigations by providing additional information when required
- Responsible for attending and successfully completing the AML and Sanctions related assigned training in the mandated timeframe
- Understanding the consequences of failing to attend or successfully complete the training as mandated
- Requesting additional training that you deem necessary or appropriate to perform your jobs through your entity manager
- Demonstrate an understanding of Politically Exposed Persons acceptance, prohibition, guidelines in order to ensure that is fully compliant .
- Understand the relatively high reputational risk that arises from any perceived weaknesses in controls in respect of substantial cash deposits or withdrawals activity, wire transfer, monetary instruments and pouch and mail
- To be aware and Identify high risk indicators for various products and Services offered example Cash, insurance, credit cards products etc
- Ensure that all records are obtained in respect of customers or New to bank customer for any products and services provided by HSBC are as per the process laid down.
- Must ensure that the prescribed process is being followed while dealing with non HSBC customers request for monetary instruments and wire transfers
- Ensure Adherence to the regulatory guidelines and internal Sanction Policy of HSBC, which includes pouch and mail, monetary instruments, cash services and payment transparency Line of Business Procedures
- To be aware of AML risk posed by pouch and mail, Monetary instruments, cash services and wire transfer services and should undergo the mandatory training for the same
- Necessary remediation steps need to be undertaken in case if there is any breach or non-adherence to the policy laid down
- Must undertake necessary due diligence to ensure that the nature of the transaction is in sync with the customer profile, else raise it to line manager for further clarification
- The staff must be aware of the scope of services of various products and services that are offered and those which are prohibited because of the guidelines laid down in the line of Business procedures and must ensure the same is communicated to customer in a effective and polite manner
- Ensure adequate due diligence is undertaken by the Individual/team to ensure that the nature of the various transactions of wire transfer, cash services, monetary instruments are in sync with customer profile
Major Challenges
- The Asset Specialist will play a crucial & challenging role in increasing business & Staff Activation of the branches.
- With branch staff having limited expertise in handling complex Asset product applications, the incumbent will also play the role of a coach & mentor for the RMs.
- The role holder will need to display effective working capabilities in handling these challenges in a dynamic environment.
Role Context
- The assets business accounts for major share of retail lending portfolio. It has been identified as an area of focus and is expected to be a key contributor to profitability going forward.
- The branch sourced assets products are expected to contribute 50-70% of monthly disbursals.
- A strong and effective specialist role will need to be in place to ensure that this source of business is not at risk.
- By participating in all aspects of the sales process, the incumbent of this position will be a key contributor to the achievement of these targets.
Management of Risk
- Adheres to processes and controls to identify and mitigate risks and ensures timely escalation of control issues and reputation risks.
Observation of Internal Controls
- Maintains HSBC internal control standards and addresses audit points and/or any issues raised by regulators in a timely manner.
Role Dimensions
- Primary responsibility for them is to help Relationship Manager achieve targets by ensuring seamless asset product disbursals
- The incumbent would effectively carry the direct accountability for achieving assets disbursals of the Branch reporting directly into the BM.
