US Ultra High Net Worth Segment & Desk Head

Job description The role of US Ultra High Net Worth (UHNW) Segment & Desk Head is responsible for leading and managing a team of UHNW Relationship Managers focused on the US UHNW market and managing the UHNW client segment within Global Private Bank (GPB) in region.
This includes leading the strategic growth plans across the UHNW team and the overall segment.
The role supports the GPB US Regional Head to formulate, drive and deliver on the UHNW strategy, effectively providing the whole of HSBC products, services and capabilities to our UHNW clients.
In addition the role is responsible for delivering the ambitious plans for the US UHNW business including the collaboration plans across the Group.
As an UHNW desk head the role holder leads and supports the Ultra Relationship Managers (RMs) and Investment Counsellors (ICs) in their client acquisition and coverage efforts.
It also works closely with Market Heads, supporting the delivery of the UHNW proposition in market.
The UHNW segment head drives collaboration with key stakeholders across GPB and the wider HSBC organization and being a change agent to enable GPB to deliver at pace on the regional and global UHNW strategy.
Keys responsibilities of this dual role, include: Drive and deliver our GPB strategic ‘Grow UHNW’ pillar in region, to achieve our financial targets and meet Market’s business objectives via ensuring ongoing performance of all team members Lead a team of UHNW Relationship Managers and segment specialists incl.
supervisory responsibilities of the direct reports Series 7, Series 66, Series 9 Series 10 Support Ultra RMs and ICs with client strategy and engagements, transactions and business where needed/possible and ensure the team provides an excellent client experience combined with strong operational risk standards Coaching of and guidance to the team incl.
creating opportunities to develop their knowledge and careers Develop a systematic prospecting process, partnering as appropriate with business introducers and implement consistent and best-in-class Client Planning across UHNW clients and Family Offices with a focus on wallet share development (e.
g.
Top 50 initiative) Institutionalize best practices in client coverage, rolling these out systematically across US Responsible for defining and implementing the UHNW client coverage model across US and drive UHNW RM book purity and UHNW segment purity Align regional and Global UHNW approach to deliver one consistent UHNW experience and proposition to clients Be the ‘Market lead’ in developing, improving and consistently delivering the UHNW client proposition Working with global and regional teams across UHNW, IWS, HSBC product partners and COO to bring platform and delivery channels to meet the global demands of the UHNW clients from client on-boarding, investment delivery and reporting to client servicing etc.
Continue to develop domestic and global collaboration with CMB, GBM, GPB for inbound and outbound referrals Develop with market heads Financial Rolling Plan (FRP / cost and revenue budgets) ambitions for UHNW including both Share of Wallet and Market Share Align and agree with regional GPB management on headcount planning and recommendations for UHNW hires Support in strategic market plans where related to UHNW specific resourcing and growth plans and lead new business/commercial initiatives on UHNW specific focus areas e.
g.
Onshore family office development etc.
Design scorecard and reward and recognition programs in support of the Objectives and Key Results (OKRs) Identify and develop training programs with Learning & Development to build and strengthen capabilities to be delivered through the UHNW Academy Drive with Marketing and Comms the events, branding and communication strategy for UHNW in region, aligned with Global Impact on the Business Grow revenue and increase UHNW segment AUM across the wider team’s portfolios Develop strategies, products, and services in conjunction with the IWS team to ensure profitable growth through existing and new opportunities Support UHNW Relationship Managers and give direction and guidance in achieving their respective targets and responsibilities Align coverage model, institute purity of coverage across continuum, pod creation, UHNW coverage team implementation Leveraging “Global Relationship Management” model to identify international opportunities Customers / Stakeholders Develop and execute the agreed strategy to increase the number of successful inward and outward referrals from/to other parts of the Group Maintain the highest standard of excellence in client service across the team Ensure the team is collaborating with other functions, products and services for the client Teamwork Lead by example and reinforce HSBC values and principles Coach and direct the UHNW RMs, in partnership with the Market Heads, provide input regarding team performance and objective setting Cultivate and promote talent Ensuring staff are properly trained with critical skills for now and the future, understand the competitive environment and importance of digitalisation, ESG and innovation Work closely with the Global and Regional UHNW teams to ensure knowledge transfer and close collaboration Operational Effectiveness & Control Ensure risks are mitigated and working within relevant guidelines Adhere to selling process and sales quality standards requirements Major Challenges The position holder will have to ensure clear accountabilities across peers Growing business in an extremely competitive marketplace Achieving stretching growth targets in a cost and resource conscious environment Operating within the approved risk appetite of the bank and ensuring no deviations Keeping a proper balance between growth and risk appetite Ensuring best practice is used across the region and aligned with the Global UHNW team Management of Risk Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations Conducting client reviews Managing risk and return in critical decisions and systematic monitoring as the business scales 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 Comply with FIM requirements.
Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy For this role, HSBC targets a fixed pay range between $275,000 and $425,000.
The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.
At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits.
Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”).
Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.
Requirements In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US.
Applicants must be legally authorized to work in the U.
S.
as HSBC will not engage in immigration sponsorship for this position.
Extensive background and experience in UHNW and Family Office client segment and business – i.
e.
knowing the customer across proposition, distribution channels, tools, operations and the key financial performance drivers Ideally at least 15 years’ line management experience with a background in private banking UHNW relationship management and UHNW segment management Knowledge of UHNW product/proposition design Extensive experience in client facing roles Experience in running a Private Banking UHNW sales desk and leading a team UHNW RMs, ICs and business management specialists Series 7, Series 66, Series 9 Series 10 Positive track record on (UHNW) business development Strong collaboration and stakeholder management Strong influencing skills Robust risk management experience University level education Strong, ongoing understanding of the competitive environment, peer product offering and innovation Experience in strategic Markets specifically across US, with knowledge in UK, Asia and EMEA given global nature of UHNW clients As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow.
We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment.
You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives.
You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC.
We value difference.
We succeed together.
We take responsibility.
We get it done.
And we want you to help us build the bank of the future! All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.