Role Title: Customer Strategy & Insight Manager, Insurance
New or Existing Role? Existing
The Global Marketing function supports the growth priorities of the Bank and strengthens the brand. It focuses on understanding customers to then develop and implement Marketing strategies, campaigns and activities. The function’s role is to help increase customer value and satisfaction in order to meet growth targets at both a global, regional and market level. The function also ensures global consistency of the brand promise in customer communications across all Business Lines and channels to mitigate any brand reputation risk.
This role supports the Insurance Marketing team and is part of the Customer Strategy and Insight function (CS&I) whose purpose is to create and gather information - creating a deep understanding of our customers; their hopes, dreams and ambitions as well as their needs and challenges. CS&I shares that with our colleagues across the bank so that we develop the right propositions, design the right service experiences, invest in the right areas for the future and fix the things that are causing dissatisfaction. The function also has a lens that looks externally to understand not just our customers, but the wider world in which they live in and the social and economic changes that might influence how they and we operate in the future.
The insurance category is a major contributor to the overall profitability of HSBC; the Insurance business is focusing its retail banking efforts on two core product categories: Wealth and Retail with combined revenues of more than $2.5bn per annum.
The Customer Strategy & Insight Manager for Insurance will be located in London. This role holder will deliver, implement and communicate customer insight and research across the Insurance business to support evolution of the Insurance Proposition to align with RBWM customer segments (Jade by Premier, Premier, Advance and Personal Banking). Specifically the role holder will contribute to the development and implementation of the Proposition strategy through analysis of proposition performance and assessment of the current Insurance offering, liaising as appropriate, with Global and Country Insurance, Marketing and CS&I colleagues, to make recommendations. They will also support the delivery of customer centric initiatives by understanding what matters most to customers and using methods such as journey mapping to make recommendations for service improvements. The role holder will support Marketing to respond proactively and appropriately to the challenges set by the Insurance business, making them aware of customer needs, opportunities and constraints in the economic, regulatory and competitive environment.
Impact on Business
· Helping to shape Marketing activity (proposition development, segmentation, communications) by providing an understanding of the customer and thorough focused research and insight,
· Identifying opportunities to drive improvements in the customer experience and hence increase customer satisfaction, engagement and retention
· Supporting business performance management through the delivery of customer metrics and market/competitor benchmarking
· Assessing the Insurance offering for agreed customer segments and/or markets in relation to proposition and marketing initiatives planned and products in the pipeline
Customers / Stakeholders
· Building momentum and engagement with countries and global wealth teams by working with them on proposition, marketing and product development projects of strategic relevance
· Support Insurance Marketing to adopt new positioning of Insurance and increase Insurance presence within Internal and External Marketing.
· Ensure the voice of the customer is heard across all business-led initiatives.
· Managing good working relationships with market research suppliers
· Proactively flag issues and pain points identified through analysis of customer / colleague feedback and co-design solutions with the business / digital teams
· Inform the strategy on key business priorities resulting in actions which reduce customer dissatisfaction, increase engagement, reduce cost to serve or increase revenue.
· Understanding and continuously building knowledge on how customers behave and interact within the digital space and other touch points/channels.
Leadership & Teamwork
· Enabling constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action
· Appetite to build knowledge of proposition customer segments and insurance products quickly
· Support the achievement of the HSBC vision, Values, Goals and Culture in personal behaviour, actions and decision making
· Proactive approach to seeking external best practice, monitoring market developments, sharing knowledge internally and encouraging others to do the same
· Challenging actions and behaviours that are not consistent with diversity and inclusion and/or the best interests of the business and its customers
· Acting as a role model, leading by example in a manner that motivates and inspires colleagues
· Demonstrate commercial acumen and customer centricity
· Growing a network within Marketing and the wider business to successfully deliver strategies and solutions cross teams.
Operational Effectiveness & Control
· Support the localization and execution of the Insurance Proposition and marketing strategy in core markets,
· Provide input as required into the product approval process for priority propositions under development
· Recommending and developing changes and improvements to operating models, procedures and practices based on own expertise and understanding of HSBC and market best practice
· Adherence to HSBC policy and procedures in order to ensure operational, financial and procedural compliance
· Contributing to the development and maintenance of a Marketing management information, analysis and reporting framework that supports and informs timely and effective business management and decision making.
· Contributing to the implementation and monitoring of Marketing policies, governance frameworks, procedures and standards to ensure the effective risk management and regulatory compliance.
Management of Risk
· The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation.
· This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
· The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence’. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required.
· Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite.
Observation of Internal Controls
· The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures.
· The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.