Title: VP Premier Relationship MgrMaximize profit and achievement of the growth of Premier clients portfolio
Location: North America-United States-Virginia-Mclean
Job Number: 00002FPP
The role is a client facing role managing our highest value clients where professionalism, client focus and a broad understanding of the fundamentals of financial planning are critical to the success of the business. The role holder has a responsibility to acquire, advise, and retain a portfolio of Premier clients, working with the broader branch and direct teams to ensure achievement of the business performance measures and plan (as defined by RBWM).
This will be achieved by active management of a portfolio of Premier clients, acquiring new HSBC clients and upgrading existing clients through becoming the trusted advisor to them. It will also entail regularly updating and analyzing client financial information to identify wealth solutions that best meet the client's needs, advising the client on a variety of potential wealth solutions, and embedding client loyalty by meeting their needs either directly or through other internal business partners.
In order to deliver the business objectives you will need to refer non-qualified business to appropriate parties following proposition protocol and attract business with new clients by understanding their financial needs and delivering high standards of service quality. The identification of opportunities for wealth reviews and delivering wealth solutions as an adviser are amongst the key activities to achieve your goals.
In delivering the business objectives you must also maintain the levels of operational integrity required by HSBC Group, closely managing your individual and the collective performance of your wider team. Creating and maintaining an environment and relationships where you and the wider Branch team maximize performance in achieving the RBWM business objectives.
The identification of opportunities for wealth reviews and delivering wealth solutions as an adviser are amongst the key activities to achieve your goals as complied with local regulatory requirement.
You are accountable for the performance of your portfolio and need to ensure it is effectively run managing to the Target Operating Model (TOM) as defined by HSBC Group.
Impact on the Business
Develop existing and new relationships
Build effective relationships with clients to retain and develop sustainable relationships
Regularly meet with clients to understand and analyze their current and long term needs and advise them on the products and services that help them achieve their goals
Effective use of tools and information to drive client service delivery and RBWM performance
Maintain a minimum standard of qualifying Premier clients within portfolio as stated by Group
Build a high personal and corporate profile in the community in which you are based. Develop network of Group and External professional contacts with the aim of introducing new business, enhancing technical knowledge and promoting the brand
Monitor and act on daily information, using it to coach the wider Branch team in support of business goals
Establish client contact strategies in line with Group operating models
Fully utilize and input to Client Relationship Management data, ensuring all client information is complete and kept up to date
Customers / StakeholdersOwn the client relationship with HSBC
Maintain a deep understanding and technical knowledge of relevant products and services available from Group sources and elsewhere in order to provide the best solutions for clients and maximize revenues for Global Wealth and the Group
Maintain highest standard of excellence in client service across the team and with individual portfolio - Ongoing analysis of client portfolios through marketing of ideas and researching clients
Monitor client satisfaction data implementing portfolio level improvements
Work with the broader branch, support and direct teams to ensure achievement of the business performance measures by recommending differentiated products and services to the client
Role as a broker-dealer Registered Representative
Identify cross-sell opportunities, including opportunities to refer customers to other sales representatives of HSBC Securities (USA), through proper customer profiling and needs-based selling
Conduct needs assessment with current and potential Company customers and recommend appropriate investment and insurance products and services to meet individual needs, based on objectives, risk tolerance and proper asset allocations
Sell appropriate core financial service products, including investment and insurance products, to meet customer needs while developing and expanding account relationships
Ensure adherence to established investment and insurance product set and selling limitations
Comply with Company Nondeposit Investment Product policies and procedures, including the requirements of the Interagency Statement on Retail Sales of Nondeposit Investment Products. Unless otherwise assigned on an individual basis in writing, role does not include management and supervision of investment and insurance activities and sales, which lies within the brokerage business and supervisory structure of HSBC Securities (USA) Inc. as determined by its senior management
Leadership & TeamworkTo work as part of an integrated branch management team to ensure standards and are met and operating models delivered
Proactively support others through direct and indirect actions beyond activities particular to this role
Collaborate with the wider team to deliver the Branch RBWM Performance measures and plan to support the multi channel client journey
Establish and maintain strong working relationships with colleagues in the wider RBWM businesses and others as appropriate to service client needs
Operational Effectiveness & ControlEnsuring that HSBC Bank plc FIM, BIM and Credit Policy Manual appropriate lending guidelines are followed
Agree and manage lending facilities within any agreed Approval Authority (RAA)
Manage operational risk, by using relevant Management Information (MI) to identify risk situations and take any appropriate action to minimize loss
Adhere to selling process and sales quality requirements
The bank seeks to grow its RBWM business through an efficient operation and the pursuit of providing clients with globally consistent experiences, excellent service, and advice on products and services appropriate to client needs in order to enhance that value. In the face of fierce competition in this segment the bank is seeking to grow the significance of this group in their contribution to our business.
The Premier segment typically comprises clients with Total Relationship Balances of $110k or more.
We should also recognize our responsibility to the community in which we operate and improve the bank's profile within those communities building economic value for the bank and its shareholders.
The range of competitors and products has established an increased financial awareness in clients, creating demand for increased experience and skill at PRM level.
A Premier Relationship Manager Requires The Following Key AttributesAn excellent understanding of financial planning, wealth management and understanding client need
Excellent relationship management and people management skills
Client driven with a strong focus on quality of service
Strong interpersonal communication skills
A strong sense of ownership, responsibility and accountability
An excellent understanding of financial planning, wealth management and understanding client need
The jobholder forms an integral part of the wider HSBC management team. As part of this wider team the jobholder is expected to identify opportunities in their day to day activities that directly or indirectly contribute to the success of co