Product Manager Retail Banking and Wealth Management Solutions
Employment Type: Regular
Oversees reporting and product analysis for the various RBWM product team especially the pricing tools such as CVRP and the analytical tools such as Cognos Deposit cube. Develops and produces reporting and analysis in conjunction with the Senior Product Managers. Conducts surveys of national and international opportunities for product innovation or competitive strategies. Provides support to the Senior Product Managers in the development, maintenance and implementation of products. Is a liaison with other RBWM and CMB teams relative to RBWM products support and initiatives.
Principal Accountabilities: Key activities and decision making areas
Impact on the Business
Identify and capitalize on innovative new RBWM product opportunities. Leverage HSBC RBWM global opportunities for new products - lift & shift, and work with segment management to ensure product functionality meets consumer needs and addresses customer dissatisfactions.
Customers / Stakeholders
- Manage and participate in monitoring external conditions, including markets, competition, demographics, and regulations to ensure RBWMproducts meet customer needs while maintaining market competitiveness and profitability
- Assist in development of customer product retention strategies and implementation of plans to stem the attrition of customers
- Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
Leadership & Teamwork
- Analyze and produce reports relative to RBWM products in conjunction with the Product Managers.
- Assist with development of pricing strategies to improve the product profitability with the Senior Product Managers, consistent with corporate objectives especially pricing support for CVRP program.
- Assist Senior Product Managers with product maintenance, development and implementation
- Assist the Senior Product Managers and the CVM team with the development of RBWM Deposit products.
- 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
Decisions within scope of responsibility:
- Actively manages reporting and analytical applications.
- Actively manages competitor intelligence.
- Actively manages product project elements as assigned.
- Ongoing assistance with the management of deposit products.
Seeks guidance from superiors on:
- Establishment of annual and short-term objectives.
- Major changes to products or company processes and/or roles and responsibilities in other departments.
- Approval on any project expenses.
- Manage reporting for product profitability against corporate objectives. Develop, manage, and track product performance, volume, spread & fees, to annual plan. Develop and manage tactical product plans to achieve product performance.
- Manage product reporting for the Deposits Product Management team including liaison with Data Analytics and support of the Cognos deposit cube application and data.
- Manage daily rate and fee pricing processes within set policies. Optimize margin and fee performance with growth in balances and outstandings to achieve business objectives in conjunction with the Senior Product Managers
- Development of procedures and manual updates to support existing products and new product development/launch.
- Ensure that all employees are aware of and effectively identify and manage applicable money laundering (ML), terrorist financing (TF), sanctions and reputational risks.
- Complete other responsibilities, as assigned.
- Key Working Relationships
- AVP Deposits, Senior Product Managers, Product Solutions senior Management Team
- Key stakeholders from other departments
Management of Risk
- Ensure compliance of both general and anti-money laundering and anti-terrorist financing (AML/ATF) compliance controls as well as operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
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.
Knowledge & Experience / Qualifications
- Degree preferably in Business Administration or business related.
- Previous experience in analysis preferred
- Computer literacy besides strong abilities re: regular applications e.g. Word, Excel, PowerPoint must demonstrate an understanding of databases and data mining and extraction tools, statistics, forecasting and ROI analysis.
- Strong analytical skills.
- Strong communication skills, especially writing, report creation, analysis reporting and internal communication documents.
- Problem solving, influence and negotiating skills.
- Ability to anticipate and act proactively.
- Previous project management experience an asset
- High degree of ownership and constructive sense of urgency.
- Strong sense of Company and business objectives.