Insurance Product Development Manager

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International Wealth & Premier Banking (IWPB) leverages HSBC's global wealth and premier banking expertise and capabilities to deliver a broad range of world-class wealth banking solutions to customers. IWPB is ideally placed to serve the increasing numbers of affluent and high net-worth customers – especially those with international banking needs who seek new investment opportunities to help them to protect and grow their wealth.

Our recognised brand, financial strength and complementary footprints reinforce HSBC's position in the world's wealth markets. Driving for growth in key markets around the world, the business comprises areas such as wealth management, premier & retail banking, insurance and asset management, with a focus on customer-centric propositions and innovative and efficient distribution channels that will differentiate our customer experience and deliver market leading wealth management solutions.

We are currently seeking an experienced professional to join this team in the role of
Insurance Product Development Manager.
Principal Responsibilities

• Driving the insurance product strategy and work with Third Party Insurance providers for best product solutions and proposition.
• Implementing new products & product variants capable of being embedded with existing product range portfolio to meet customer needs and expectations.
• Implementing and management of new channel of distribution/enhancement of sales process and customer service delivery standard to improve efficiency and profitability.
• Fully abreast with the market competition by conducting comprehensive market studies
• Monitoring and tracking of insurance performance to ensure achievement of the planned AOP.
• Preparing effective business documentation viz. Product Opportunities and Proposition Papers, Range Review and relevant TCF papers, Vendor Risk Management, Risk Assessment documents and other relevant drafts required from the perspective of Product approval and governance.
• Developing new sales techniques, analysing market competition, and evaluating the cost and benefits for all products and sales initiatives to ensure that they are profitable and competitive.
• Managing effective business relationship with 3rd party Insurance Providers at operational level and driving the execution of new product launches, product training and marketing initiatives and campaign
• Identifying customer needs, and establishment of potential cross-selling/up-selling opportunities, to enhance insurance penetration via comprehensive Insurance solutions.
• Manage and drive the implementation of end-to-end sales process for new product offerings, including system development and enhancement, effectively
• Implement insurance sales quality process, embedding changes and ensure all relevant controls are implemented in order to achieve a satisfactory audit rating, effectively.
• Conduct the training of sales quality framework for new onboarding sales staff to be in line with the Global Standard.
• Researching and compiling regular update of competitors' product launch, offers and counter-objections strategies for enhancement of selling skills and competitive product knowledge.
• Manage and coordinating sales seminars or product training to prepare sales staff in conducting sales of insurance/takaful product according to customers' needs.

Requirements

• At least a bachelor's degree in any related discipline is required.
• 5-10 years of working experience as a wealth management or financial market.
• Strong client skills with the ability to deliver a strong client experience and provide needs-based solutions.
• Deep knowledge of specific complex financial solutions and products including the knowledge of financial markets, social-economic dynamics, and regulatory requirement relevant to the products.
• Extensive external market awareness of market conditions, new product solutions, and an understanding of current financial market activities.
• Demonstrated ability and experience to correctly identify client needs.
• Solid skills to manage consultative sales process.
• A solid understanding of global anti money laundering standards.
• Team player with collaborative skills.
• Knowledge of local and Group compliance regulations

Opening up a world of opportunity

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Issued by HSBC Bank Malaysia Berhad