Head of IWS, CIIOM

Job description

Job description

Role Purpose
IWS CIIOM Head to provide world-class Investment propositions, platforms and products across all WPB client segments, serving client needs both locally and within the Expat Business, and where appropriate providing, a unique internationally connected offering.

Role holder will be responsible for the end to end oversight and development of the investments and wealth product offering to clients across GPB&W, Premier and Personal Banking segments in CIIOM.  Wealth products are designed to support the needs of all clients, including wealth planning, insurance and various investment services.

Principal Accountabilities:

·  Develop and manage a suite of wealth products to meet the strategic plan, delivering against appropriate and suitable customer outcomes, whilst meeting profitability and market share growth targets that is based on customer insights and data
·  Contribute to the delivery of the IWS product offering to all clients in CIIOM (Personal, Premier, HNW and UHNW),.
·  Improve existing platforms to support the launch of new services and products, identify needs for platforms enhancements and/or changes, support
·  implementation of such changes through definition of budget and participation to Steercos.
·  Identify needs for investments in resources and platforms enhancements to support business growth, define and drive budget request and management.
·  Develop strong collaboration and partnership with the EMEA and Global IWS teams,
·  Develop and lead new initiatives and product ideas for local distribution, as well as some global initiatives in agreement and coordination with Global CIO and Global IWS Product Heads
·  Manage all IWS teams in CIIOM, including local client facing investment/wealth product specialists
·  Develop and implement strong to local and regional Distribution teams to lead to optimally deliver Wealth strategy with great customer outcomes and commercial viability
·  Develop a competitive and differentiated Wealth strategy in CIIOM for all client target segments, identify product and services synergies between the PB and Wealth activities
·  Proactively seek out incremental new business opportunities and business expansion potential by managing pricing to maximise profitability.
·  Develop a culture of sales management and effectiveness.
·  Drive Digitisation of overall Wealth Business
·  Business Outcome Lead for CIIOM Investment/Wealth product activity and platforms, helping to improve the client experience through digital and platform enhancements.
·  Supervisory responsibilities for the IWS team operating in CIIOM including active management of IWS governance forums and active participation in the broader Market governance forums, representing IWS. Ensure strong product control, governance and compliance with all regulatory and policy requirements
·  The role holder will have responsibility for the IWS product specialists within CIIOM, in the respect of product specialists, the role holder will be responsible for IWS operating within the stated risk appetite for the Market. Said risk appetite will have been approved at the relevant governance forum and dynamically managed accordingly, if IWS is to move outside of the defined risk appetite the role holder will be accountable for formulating an agreed plan with stakeholders for moving back into tolerance
·  Role holder will be responsible for chairing the local product committee with individual accountability for decisions made at that committee
·  Meet all regulatory and procedural requirements necessary
·  Nurture a highly-motivated team through effective communication of business directions and objectives
·  Member of CIIOM WPB ExCo
·  Member of CIIOM GPB Exco
·  Member of  Regional IWS Exco
·  Chair of WPOC, DMC and CAG

Customers / Stakeholders

·  Head of WPB CIIOM
·  Global/Regional Head of IWS, Global IWS Product Heads
·  WPB CIIOM CEO, CFO, COO and CCO
·  GPB CIIOM CEO, CFO, COO and CCO
·  Head of Retail Product
·  Head of Customer & Marketing
·  CIIOM Head of Channels

Major Challenges

·  Current environment of significant change within WPB.
·  Ensuring products are fit for purpose, appropriately designed, whilst understanding distribution risks even if not owned
·  Creating a joined up wealth offering and operating with a single culture
·  Delivering target growth across the balance sheet; balancing product pricing and prioritisation.
·  Meeting all regulatory, risk and compliance obligations in a changing regulatory environment.
·  Adapting to changes in the immediate and mid-term economic environment, as a result of coronavirus-related developments and uncertainty.

Role Context

·  The role requires a good degree of independence and initiative and the role holder will be expected to work with minimal guidance and be able to manage senior relationships autonomously.
·  The role requires a high degree of autonomy, technical knowledge and experience necessary to manage relationships with the GBLs.  The role is critical to the success of WPB to maintain high ROTE.

Management & Leadership of Non-Financial Risks

·  The role holder will adhere to and promote the Group’s Conduct principles.
·  The role holder will continually assess the non-financial risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices and the impact of new technology.
·  The role holder will address any areas of concern in conjunction with line management and/or the appropriate department in order to proactively manage the non-financial risks relevant to this role. The role holder shall ensure that adequate resources are in place to deal with non-financial risks and training is provided to foster a compliance culture.
·  The role holder will also adhere to and be able to demonstrate adherence to internal control requirements. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where required by the timely implementation of internal and external audit points, including any issues raised by regulators.
·  The role holder will adhere to and promote compliance with all relevant financial services laws, rules and codes with which the business has to comply.

Requirements

Knowledge & Experience / Qualifications
University (BA) or (BS)
Over ten years 

·  Detailed financial services and Investment/Wealth business and product knowledge
·  Strong financial, risk and regulatory experience within Product Management/Development
·  Knowledge of regulatory requirements and experience with interpreting and implementing new regulatory requirements.
·  Strong technical skills with the ability to break down complex situations, spotting trends, inconsistencies, and causal relationships and the ability to communicate these to non-technical specialists
·  Demonstrable experience of leading, managing and coaching a team of business partners in a changing commercial environment
·  Excellent interpersonal skills demonstrating the ability to influence as well as developing strong and productive relationships with key senior management and colleagues in a complex matrix environment
·  Ability to influence and drive prioritisation decisions.
·  Has worked in an agile environment.

For further queries on the role, please contact Andrew L Westwood , Executive Search Partner