Private Client Relationship Manager

Job description

Employment Type: Regular
 
The role is a client facing role managing the HSBC relationship with our highest value clients where professionalism, client focus and an expert understanding of wealth planning and wealth products are critical to the success of the business. The role holder has a responsibility to acquire, develop and retain relationships with a portfolio of Top Tier Premier clients. The Private Client Relationship Manager requires exceptional ability to build trusting relationships with existing and potential Top Tier Premier clients, help clients articulate their needs, and deliver to exceed client expectations. Success requires getting to know clients on a personal and professional level to understand their short and long term financial goals. They will use deep understanding of the client’s situation and external market knowledge to challenge clients and provide financial advice which leads to highly individualised strategies aimed at wealth creation and capital preservation.
The role will entail reviewing the Top Tier portfolio regularly to identify opportunities to use the distinctive capabilities of HSBC, spanning lines of business and geography, to the advantage of the client. In so doing increase client loyalty by meeting their needs either directly or through effective and proactive collaboration with other internal business partners. Understanding and adhering to local and global compliance requirements is critical. In delivering the business objectives the role holder must also maintain the levels of operational integrity required by HSBC and adhere to the Business Principles and Values of HSBC.The Private Client Relationship Manager is accountable for the performance of their portfolio and needs to ensure it is effectively run within the RBWM Target Business Model (TBM) and delivers to the Top Tier Proposition as defined by HSBC Group.
 
Impact on the Business 
Achieve agreed financial targets and profit growth through the development of existing and new Top Tier client relationships
Complete regular reviews with clients to understand their current and long term financial needs and advise them on the differentiated products and services that help them achieve their wealth goals
Use tools, information, and delivery channels effectively to deliver the highest levels of client service
Maintain a minimum standard of qualifying Top Tier Premier clients within portfolio as stated by Group
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 sales activity management information and other internal information tools, using them to effectively grow or maintain wallet share of clients
Fully utilize and input to Client Relationship Management data, ensuring all client information is complete and kept up to date
Identify opportunities, to refer business to PIM and HSBC InvestDirect, as appropriate.
Customers/Stakeholders
Own the client relationship with HSBC and provide professional care and expert financial advice that results in clients considering HSBC their primary bank
Work with the broader branch, support and direct teams to ensure achievement of the business performance measures by delivering differentiated wealth products and services to the client
Build and maintain relationships with clients based on credibility, reliability and personal interest
Utilize in-depth knowledge of relevant products and services and how they might be tailored to provide the best solutions for clients
Maintain highest standard of excellence in client service with individual clients with regular monitoring of client satisfaction.
Leadership & Teamwork
Work as part of an integrated management team to ensure, standards and are met and operating models delivered
Complete line manager responsibilities for managing assigned Premier Officer or designated support staff
As a team player, establish and maintain strong working relationships with colleagues in the wider RBWM businesses and others as appropriate to service client needs
Collaborate with the wider team to deliver the RBWM performance measures and plan to support the multi channel client journey
Act a role model and coach to more junior RMs, as needed
Operational Effectiveness & Control
Ensure that sales & operations are undertaken in accordance with HSBC FIM, BIM and Credit Policy Manual appropriate lending guidelines.
Manage operational risk, by using relevant MI to identify risk situations and take any appropriate action to minimise loss.
Adhere to selling process and sales quality requirements
Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)
 
The bank seeks to grow its RBWM business through an efficient operation and the pursuit of providing High Net Worth (HNW) clients with globally consistent experiences, excellent service, and increased control through proactive expertise, products and services tailored to meet individual HNW client needs. The Top Tier Premier segment typically comprises clients with more than $1Million (CAD) in investible assets.
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.
We should also recognise 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, products and evolving client needs has established an increased demand for experience and skill for a Private Client Relationship Manager. 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 colleagues with differing responsibilities, particularly in other areas of HSBC such as PIM, HSBC InvestDirect.
 
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
Jobholder reports to Branch Manager.
The jobholder will own and manage a portfolio of approximately 150 primary clients working with the wider RBWM team.
The jobholder has prime responsibility for:
Delivering a consistent and tailored wealth management service to our most valuable Premier clients
Developing long-term, in depth client relationships with clients
Acquiring new clients with proactive strategic wealth planning to maintain and grow wallet share
Leading Premier activities to ensure opportunities are identified and client needs are met effectively, maximising all available resources
Compliance with the relevant Group standards including GHQ and the Regulatory organization as applied to the implementation of the RBWM strategy in Canada
Portfolio income based on local requirements
The job holder operates within the approved operating and strategic plan process to develop the RBWM business.
Management of Risk (Operational Risk / FIM requirements)
Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
The jobholder will ensure the fair treatment of our clients is at the heart of everything we do, both personally and as an organisation.
The jobholder will also continually reassess the operational 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, management restructurings, and the impact of new technology.
Observation of Internal Controls (Compliance Policy / FIM requirements)
Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
The jobholder will also adhere to and be able to demonstrate adherence to internal controls and credit policies. 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.
The jobholder will implement the Group and local compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity.

Desired profile

Knowledge & Experience/Qualifications (For the role – not the role holder. Minimum requirements of the role.)
Bachelor's degree or equivalent experience.
Minimum of eight years proven and progressive financial services, and at least 3 years as Relationship Manager.
Evidence of strong client recommendation and sales results in wealth products.
Equivalent relationship management experience in managing high net worth client portfolios preferred.
Expert knowledge in wealth planning and wealth products.
Sound knowledge of the impact of macroeconomics/microeconomics/local market developments.
Expert knowledge of external regulatory framework relevant to wealth management.
In-depth understanding of HSBC Global House Views.
Strong client focus and ability to develop long term partnerships with clients.
Ability to deliver needs-based solutions through effective communication, influencing, and sales skills.
Clear view on how to work with Compliance, Credit & Risk and Internal Control to ensure a balanced risk operating environment.
Able to communicate well in English Understands / speaks second language is an asset
Willingness to be mobile in local community
Accreditations
Mutual Fund Licensing. Requires Completion of:
Investment Funds in Canada Course; Canadian Investment Funds Course; or Canadian Securities Course; and
Mutual Fund Skills Builders Course
Completion of HSBC Business School and Accreditation
Personal Financial Planning Designation (PFP) or equivalent; (Quebec Only: CSI certificate of achievement – Advanced Personal Finance).
Leadership Capabilities
Have an understanding of the immediate regional Global Wealth strategy and the ability to plan own activities accordingly
Be ambitious about providing the highest standards of delivery to colleagues and clients
Show ability to set stretch goals for self and the ability to deliver these with courage and tenacity
Be authentic and show ability to engage with colleagues and clients to deliver at pace
Make considered decisions that protect HSBC & Global Wealth values, reputation and businesses
Global Wealth Management
- Relationship Manager Technical Capabilities
Refer to PRM Capability Framework, Advanced level, for more details