Financial Consultant
Company: HSBC
Location: San Gabriel
Posted on: August 4, 2022
Job Description:
This role is a client facing role managing our high value
clients where professionalism, client focus and a broad
understanding of the fundamentals of wealth planning are critical
to the success of the business. The role holder has a
responsibility to acquire, develop, advise, and retain a portfolio
of Wealth clients, working with the broader branch and direct teams
to ensure achievement of the business performance measures and plan
(as defined by Retail Banking & Wealth Management (RBWM)). The role
holder will represent HSBC Securities (USA) Inc., HSBC Bank USA,
N.A. and HSBC Insurance Agency (USA) Inc. This will be achieved by
active management of portfolio of Wealth clients, It will also
entail regularly updating and analyzing client financial
information to identify lending, and wealth solutions that are
suitable to meet the client's needs, advising the client on a
variety of potential lending and wealth solutions, and encouraging
client loyalty by addressing their needs either directly or through
other internal business partners. Mortgage to be referred to
appropriate Mortgage staff. Bank products to be referred to
appropriate Premier Relationship Manager.
This position provides financial solutions (appropriate with
securities registration, insurance and state licenses) to current
and potential Wealth customers through the services and products of
RBWM. The Financial Consultants are assigned Wealth clients and are
expected to seek opportunities to attract, develop and retain these
clients and expand the portfolio of clients by providing wealth and
lending solutions. The identification of opportunities for wealth
reviews and delivering suitable wealth solutions as a Financial
Consultant are amongst the key activities to achieve goals and in
compliance with local regulatory requirements.
Accountable for the investment performance of portfolio of clients
- need to ensure it is effectively managed in adherence to the
Target Operating Model (TOM) as defined by HSBC Group.
Impact on the Business
- Build deep, long-lasting and mutually valuable relationships
with Wealth customers.
- Help the organization achieve its objectives of through the
development of existing and new Wealth relationships consistent
with the Key Performance Indicators (Non Outcome and Outcome) that
measure performance of the role.
- Through a defined sales process, recommend lending and
investment and insurance solutions designed to meet customer's
protection, education, retirement, legacy, property, and lifestyle
needs while also helping customers manage and grow their wealth.
Mortgage to be referred to appropriate Mortgage staff. Bankproducts
to be referred to appropriate Premier Relationship
Manager.
- Develop strong partnerships with the Premier Relationship
Manager.
- Regularly meet with clients to understand and analyze their
current and long term needs and advise them on the products and
services that help them achieve their goals.
- Refer business to other areas within the bank as appropriate,
in accordance with established guidelines.
- Perform tasks on behalf of the bank as required including
deposit account opening as necessary.
- Complete all activity documentation to provide a record for
performance tracking.
- Assist in targeting future opportunities.
- Establish client contact strategies in line with Group
Operating Model.
- Fully utilize and input client relationship management data,
ensuring all client's Wealth information is complete and kept up to
date.
Customers / Stakeholders
- Own the Wealth client relationship with HSBC. Maintain a deep
understanding and technical knowledge of authorized relevant
products and services available from the RBWM affiliates in the US
for Wealth clients to provide suitable recommended solutions for
clients and maximize revenues for Wealth and the Group.
- Maintain highest standard of excellence in client service
across the team and with individual portfolio. Complete ongoing
analysis of portfolios of client relationships through marketing of
ideas and researching clients.
- Provide quality service in meeting customer needs, inquires and
problems of a complex nature; maintain contact with existing
customers and referral sources on an on-going basis to identify new
or additional needs.
- Conduct full needs assessment with current and potential Wealth
customers and recommend appropriate lending, investment and
insurance products and services to meet individual needs, based on
objectives, risk tolerance and proper asset allocations. Mortgage
to be referred to appropriate Mortgage staff. Bank products to be
referred to appropriate Premier Relationship Manager.
- Manage assigned client's full Wealth relationship, seeking
opportunities to attract new Wealth clients as well as retain and
expand relationships with existing Wealth clients. Mortgage to be
referred to appropriate Mortgage staff. Bank products to be
referred to appropriate Premier Relationship Manager.
- Deliver fair outcomes for our customers and ensure own conduct
maintains the orderly and transparent operation of financial
markets.
Leadership & Teamwork
- Work as part of an integrated branch management team to ensure
standards are met and operating models delivered.
- Proactively support others through direct and indirect actions
beyond activities particular to this role.
- Establish and maintain strong working relationships with
colleagues in the wider RBWM businesses and others as appropriate
to service client needs.
- Represent the Company in community organizations and
activitiesto enhance the Company's image and maintain and enhance a
referral network for additional relationship opportunities. Refer
to the HNAH Code of Ethics policy and Wealth Management Staff
Dealing policy including Outside Business Activity (OBAs) to ensure
that above community and outside activities do not present an
actual or potential conflict of interest and do not have an adverse
impact with respect to job responsibilities at HSBC. HSI Supervisor
and Compliance should be consulted in addition to review of Code of
Ethics policy and Wealth Management policy for Outside Business
Activity.
- Coach branch-based licensed sales professionals in assigned
branches regarding appropriate referrals.
Operational Effectiveness & Control
- Maintain proper documentation following preset guidelines
established by Compliance and Management.
- Understand and adhere to Group and Company policies and
procedures, and meet all required mandatory training
requirements.
- To implement the Group compliance policy locally by containing
compliance risk in liaison with the Head of Group Compliance,
Global Business Compliance Officer, Area Compliance Officer or
Local Compliance Officer, ensuring adequate compliance resources
and training, fostering a compliance culture and optimizing
relations with regulators.
- Complete other responsibilities, as assigned.
Major Challenges
- The Company seeks to grow its RBWM business through an
efficient operation and the pursuit of providing clients with
globally consistent experiences, excellent service, and advice on
products and services appropriate to client needs to enhance that
value.
- Increasing client Wealth balances during tough economic
times.
Role Context
- The jobholder will own and manage a portfolio of Wealth clients
working with the wider RBWM team.
- The jobholder has primary responsibility for:
- Maximizing growth in their portfolio of Wealth clients and
achieving the RBWM plan/metrics.
- Leading Wealth activities to ensure opportunities are
identified and client needs are met effectively, maximizing 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 the US.
Management of Risk
- Ensure compliance, operational risk controls in accordance with
HSBC or regulatory standards and policies; and optimize relations
with regulators by addressing any issues.
- Assist in maintaining NDIP (Non Deposit Investment Products)
policy standards and avoiding customer confusion between Bank and
Wealth products.
- Physical Demands/Work Environment: Very good working
conditions. Little or no physical demands. Minimal handling of
light materials. The physical demands/work environment described
above are representative of those that must be met by an employee
to successfully perform the essential duties of the job. Reasonable
accommodations may be made to enable individuals with disabilities
to perform essential duties.
- Ensure the fair treatment of our clients is at the heart of
everything we do, both personally and as anorganization.
- 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 restructuring, and
the impact of new technology.
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.
- Adhere to internal controls and Firm 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.
- 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 and by ensuring adequate resources are
in place and training is provided, fostering a compliance culture
and optimizing relations with regulators.
- The incumbent will ensure 100% adherence to completion of HSBC
mandatory training and any required compliance and risk-related
training courses.
Keywords: HSBC, San Gabriel , Financial Consultant, Accounting, Auditing , San Gabriel, California
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