HSBC
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Job details:
Job Title: Vice President - Product
HSBC Asset Management (“AM”) Product Group is responsible for the strategic and commercial development of AM Product manufacturing capabilities including Development, Management, Governance, Support and Mandate delivery across all Global Markets. The product governance function is key to the management and oversight of all funds, particularly those domiciled in Luxembourg and Ireland but also for local ranges across the markets in which we operate. In addition, the governance team are required to set standards for global adherence, undertake efficiency saving exercises and help the broader team and business on freeing up resources to focus on value added activities. The Product Governance function will play its part in managing and transforming Product.
The main objectives of the role holder will be to:
The role holder aims to simplify the product governance and oversight framework, share information and assist in the implementation of best practice across the fund platforms (global and local ranges) throughout the Product Lifecycle process
The role is also to support the product development & management teams by providing SME services for business processes to aid launches (umbrellas, sub funds, share classes) and oversight initiatives for the Global and local ranges.
Own and standardise processes within Governance activities using systems/databases or software and leverage off other teams within product and the broader business
Manage projects to reduce cost to HSBC/the funds, improve efficiencies and remove unnecessary duplication.
The role holder should ensure effective management and reporting of the HSBC AM seed account, recording transactions, place trade requests ensuring documentation is in order/aligned with the finance team records. This covers Public and Private Market products globally.
In conjunction with the Product Support team offshore and outsource activities to reduce time and resource on relatively low value onshore activities.
Share knowledge and expertise of Fundipedia and support the Management Company and Product team members on Fundipedia related matters.
Be responsible for ensuring the delivery of assigned and agreed product priorities to support the business growth strategy of AM. Assist in the the recording of the product teams successes/change throughout the year
Support the Governance Managers with related Board management governance.
Own end-to-end global fund product governance and data operations, including share class request set-up; acting as the key contact for investment/sales/product data queries; managing product specification and review templates across locations; maintaining the Fund Board Director database; performing seed review/analysis plus subscription/redemption reporting and trading; completing PRIIPs TER verification checks; and overseeing timely completion of global fund product reviews.
In This Role, You Will
Impact on the Business
- Liaise with Head of Product Governance as well as members of the other product verticals to support new developments and initiatives to simplify governance activities.
- Manage governance processes to support the development and managements teams on fund launches and other oversight initiaitives.
- Own and standardize processes and manage projects to reduce cost and realise efficiencies across the teams and business.
- Manage the seed books including transactions with associated reporting to GNBC and ALCO meetings.
- Support the Governance Managers with related Board management governance
- Work on and execute initiatives to streamline processes, either through technology or offshoring, resulting in improving efficiency.
- Support the business by providing appropriate information and documentation to help service the business to fulfil regulatory and commercial obligations.
Typical Targets and Measures
- Number of projects being coordinated and managed
- Quality of the deliverables (of the due diligence, inputs from all key stakeholders, highlighting/resolving the identified issues)
- Capacity to deliver on time
- Submitting project proposals / product propositions, with resulting approvals
- Quality of deliverables (minutes, submissions, etc.)
Customers / Stakeholders
- Develop good working relationships with other colleagues in the Product function globally as a priority.
- Engage with all the relevant stakeholders and build a strong working relationship with stakeholders, including HIFL, Adminstrator & Depositary, , etc to facilitate the successful delivery of projects.
Typical Targets and Measures
Leadership & Teamwork
- Member of the Product Governance team with a primacy of Global and UK domiciled products.
- Liaising and coordinating with other functions/teams and stakeholders within AM and the HSBC Group
Typical Targets and Measures
Operational Effectiveness & Control
- Manage the product lifecycle according to the fund governance framework and product policies.
- Improve efficiency, through offshoring and helping to systemize delivery of standard documentation and processes.
- Ensure Fundi is accurate with all the relevant Fund specifications and data points used in documentation production and reporting
- To operate in accordance with the principles laid out in the AM FIM, the AM policies and the GNBC/AMEU LNBC Terms of Reference
- To own, monitor and report on Controls as required in respect of Risks identified with the Global & UK funds.
Typical Targets and Measures
- Compliance to the relevant set of guidelines / internal processes: FIM requirements, TCF policy
Major Challenges
Engaging with all stakeholders within the Global & UK businesses to ensure proper coordination of projects with all major stakeholders for the development and timely delivery of investment product/ services/ solutions.
With the global product management team, review existing processes and documentation to improve efficiency and quality
Role Context
Job Context
- Member of the Global Product Governance vertical, working with and reporting to Global Head of Product Governance.
Major Challenges
- Manage multiple initiatives (at different levels of granularity) which have overlapping timelines, ensure timely delivery in a compliant and risk-controlled manner, resolve conflicting priorities with different stakeholders to meet tight timeline and project deadlines taking into account the requirements from regulators, distributors and clients.
- Adapt to changing business priorities, develop effective and robust products that adhere to the ever changing commercial and regulatory environment.
- Build strong relationships and trust with colleagues and stakeholders, stakeholder engagement within the UK and Global businesses in order to find the most suitable solution from an Investment / Operation / Risk / Compliance perspective for specific product and / or regulatory requirement.
- Strong self-motivation
Management of Risk
- Adheres to processes and controls to identify and mitigate risks and ensures timely escalation of control issues and reputation risks.
- Is aware of, and gives consideration to, the operational risks associated with the role.
Observation of Internal Controls
- Maintains HSBC internal control standards and addresses audit points and/or any issues raised by regulators in a timely manner.
- 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.
- Understand the Treating Customers Fairly (TCF) principles, HSBC Asset Management’s TCF philosophy and how this affects your role. Act in a manner that takes account of these principles to ensure fair outcomes for customers
Role Dimensions
- Non quantifiable in terms of income/revenues or budget
- Number of projects being managed, quality of the work and engagement with other stakeholders will be critical
To Be Successful You Will
- Previous experience in investment management and knowledge of investment strategies & techniques, asset classes and asset management products
- Demonstrated project management skills
- Capacity to engage with various stakeholders and to coordinate complex projects
- Previous experience in Product Development/Product Management is desirable
- Strong analytical skills, with a finance and/or business studies and/or economics background
- Computer literacy (MS Office suite) is required
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