Senior Cards Product Manager

Job description

Role Purpose
·         To support the the development of Global card propositions and Global card product management. Global Cards is a $28 B asset class, with circa $3.8B of revenues and over $100 B of annual customer spend – within this, Premier Cards represents circa 10%-15% of assets, revenues and usage.
·         The role will support the optimization of our offering and customer experience across all aspects of the card lifecycle, alongwith monitoring the relevant cards P&L and its key drivers.
 
Principal Accountabilities:  Key activities and decision making areas
Impact on the Business 
·         Implement Global cards product strategy with focus on the Premier segment including core product rationalization on OHSBC
·         Research core card segments, develop and launch new Global card propositions, for identified card segments and new Global card functionality. The key focus is on, but not limited to, Premier card propositions including Global loyalty and rewards schemes
·         Monitor Global Cards P&L for Premier proposition (in shared ownership with regions/countries), working with key stakeholders to develop initiatives to improve overall profitability
 
Customers / Stakeholders
·         Regional Cards & Asset teams, Group Head of Cards and Loans, Global Head of Cards
·         Group Head of Retail Banking Products, CVM Heads in launch markets
·         Premier and other segment proposition Heads
·         Channel servicing experts (including Digital/mobile stakeholder)
·         Purchasing/Legal (Contracts)
·         Legal/Compliance
·         Group Marketing
·         Group Academy (Training)
·
Leadership & Teamwork
·         Be an effective team player through communication, performance management, development plans and reward/recognition practices. Cultivate an environment that supports diversity and reflects the HSBC brand.
·         Lead the identification and compilation of the business development and learning objectives for new and existing programs.
·         Directs internal teams and external vendors to challenge existing marketing programs and to identify new opportunities to optimize risk and reward trade-offs by sharing knowledge and fostering open communication to evaluate current practices.
 
Other responsibilities
·         Lead ongoing product developments and product fit analysis initiatives.  Interface with appropriate business managers or third parties to identify, and develop new products.  Identify opportunities for product enhancements and implement product line extensions.  Develop and manage competitive pricing strategies to achieve target levels of profitability. 
·         Provide broad management oversight, leadership and problem resolution across a range of support functions including but not limited to operations, systems, finance, sales and customer service.
 
Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)
·         Working under pressure, ability to structure and synthesize business issues rapidly, coordination and influencing a diverse suite of stakeholders, optimal usage of resources against a complex and ambitious set of business deliverables and objectives
 
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
·         The role will sit within the Global Cards team within the Group Retail Banking Products structure. Key objectives and governance of the deliverables in this role will be agreed by the Group Head of Cards and Loans and Senior Manager for Cards, in conjunction with the Group Head of Retail Banking Products
·         The role holder will be expected to operate largely independently in the development, deployment and management of the initiatives within their remit. Responsibilities will include direct management and oversight of cross-functional working group teams as appropriate.
·         This role will not have direct reports at this time. However, the role will include delivery management through partner teams.
·         Management of Risk (Operational Risk / FIM requirements)
·         The jobholder will ensure that 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 required to support the Best Place to Bank principles as in the UK and other market equivalents of Make Better Products, Sell Them Properly and Keep Them Sold.
·         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)
·         The jobholder will also adhere to and be able to demonstrate adherence to internal controls. 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 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. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
 
Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. in USD’000)
·         Globally, HSBC is one of the largest credit card issuers, and ex-US the largest. Global Cards is a $28 B asset class, with circa $3.8B of revenues and over $100 B of annual customer spend. The role will support the optimization of our offering and customer experience across all aspects of the card lifecycle, alongwith monitoring of the relevant cards P&L and its various key drivers. These are:
·         The role will have responsibility for the development of products and positions globally for core segments and for the development  of global product capability. The role will include lifecycle portfolio and profitability management across key metrics – asset growth, revenue, spend, profitability, contribution, capital efficiency and operational performance
·         The role will support the creation and maintenance of the Global Product framework on our core HSBC platforms, and will drive prioritization decisions on all future card systems decisions on the core source code. This will include working with stakeholders on emergent technologies with digital and mobile workstreams, bringing relevant technology into play when presenting offers to (and fulfillment of rewards to) customers
·         The role will also include implementation of Premier strategy and KPI management including the development of a Global rewards platform. In 2012, our customer rewards cost across 12 M customers was $240 M – a core responsibility of the role will be to optimize returns for customers and shareholders appropriately.
 

Desired profile

·         Post Graduate (Masters)
·         Over Ten Years
 
Knowledge/Experience
·         Consumer financial services industry experience and strong understanding of asset businesses
·         Deep experience of market leading Card capability especially in the rewards space
·         Experience of leading multi channel sales programmes
·         Significant experience of card cross
- selling
·         Deep experience of Marketing
·         Retail Banking experience, familiarity with Large Bank environment
·         Experience of data analytics and their application in multi channel CRM programmes
·         Experience of having led card marketing across remote channels (E marketing)
·         Significant experience of designing and launching new propositions across markets
·         Experience of creating and managing loyalty schemes
 
Skills
·         Excellent customer relationships
·         Experience of leading a team directly or in project settings
·         Strong influencing skills
 
We are an equal opportunity employer and are committed to creating a diverse environment.