Vice President, GPB&W Pricing Lead

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HSBC is one of the largest banking and financial services organisations in the world, with operations in 62 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of Vice President, GPB&W Pricing Lead

Business: HSBC Global Private Banking & Wealth

Principal responsibilities

• Maintain ownership of the GPB Pricing FVE policy and provide policy guidance to GPB Markets. Enhance GPB’s FVE Policy framework, infrastructure and processes to remediate known and emerging issues to meet evolving regulatory expectations within available resource constraints through global consistency and prioritisation.Support local markets to strengthen FVE Execution of the Global Pricing FVE policy, by leading the engagement of the below tasks:
• Identify solutions for local Discounting Workflow tools and review of the discounting policies. Participate in local pricing tasks (establishing refund thresholds, local Audit actions, disclosures, quantitative easing/removal of caps). Create a central database of all Product Tariffs/Fees so that analysis/simulations improve competitiveness (benchmarking) & identify arbitrage amongst markets, or spreads widening post agreed costs.Enhance and optimise central database of all relationship pricing so that discounting levels can be monitored for expirations and customer consistency.
• Establish system driven alerts when transparency of costs are breached by insufficient disclosures (client letters/notifications/system generated).Establish a self-assessment to ensure compliance by all markets with local regulatory articles, and set local actions against any compliance gaps.Co-ordinate periodic governance committees and forums for Markets to report to the Global Head of IWS.
• Standardisation of Committee ToR/agenda/roles for Asia, US and EMEA so that Pricing Committees consistently feed into global governance forums.Balance the commercial sensitivity with global consistency to inspire risk sensitive standards and controls.As a delegate of the GHoP, participate in local pricing committees to support decisions. This includes and is not limited to helping to establish refund thresholds, close local Audit actions, supervise appropriate client disclosures, discounting, local Fee Schedule, removal of caps of all asset classes, etc. Inevitably as a result, the role holder will be required to transform observations to further create initiatives to improve the local management of Pricing.
• Support Global Product Heads arranging for Booking Centres to review Product FVEs and log any gaps. Oversee the Product Governance team while they manage the task.Prevent revenue leakage by strengthening robust procedures to manage negotiated pricing surrounding discounting. Supervise requests made by the regulator. Work with industry panels to keep abreast of trends in pricing, changes in regulation, help form HSBC’s position on emerging topics and ensure HSBC’s views are considered in consultations and other rule-making processes in countries as appropriate.
• IWS Product & Market Heads since they are accountable for executing FVE (criteria, tariffs per products/services, disclosure). Collaborate with local Business Management teams since they manage local Pricing work and FVE implementation. Collaborate with local CCO teams since they provide oversight on the embedding of pricing. Support GPB CRO, Risk Functions and other regional functions with regulatory interpretations and accurate identification and measurement of Pricing Risk.
• Provide leadership by interpreting regulatory requirements for identifying and measuring Pricing Risks across GPB. Implement global pricing governance and standards across mature and less advanced markets and provide training as required.Ability to work effectively with senior stakeholders and across multiple teams simultaneously.
• Execute multiple range of goals and priorities while balancing competing regulatory and management requirements ensuring proper governance and timely escalation of issues to GHoP. Optimise the use of in-house and external quantitative resources and achieve optimal balance of resources in country and lower cost areas. This may also include making arrangements to utilise virtual SME teams stationed in GPB sites by inspiring collaboration.