Assistant Vice President, Incentive performance - Retail Banking and Wealth Management

  • Competitive
  • Singapore Singapore Singapore SG
  • Permanent, Full time
  • HSBC
  • 25 Sep 18 2018-09-25

Assistant Vice President, Incentive performance - Retail Banking and Wealth Management

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Retail Banking and Wealth Management serves more than 38 million customers worldwide with a complete range of banking and wealth management services to enable them to manage their finances and protect and build their financial futures. It is a global business that brings together management responsibility for Retail Banking, Wealth Management, Insurance and Asset Management with a focus on customer-centric propositions and innovative and efficient distribution channels.

We are currently seeking a high caliber professional to join our team as Assistant Vice President, Incentive performance .

Principal responsibilities

  • Governance and Control of Staff Incentives.
  • Improve existing and develop new staff incentive disbursement process, institute process compliance so as to make function audit proof.
  • Make transparent the incentive allocation methods and establish clear links between incentive disbursed and performance measurements
  • Disburse incentive accurately and timely.
  • Contain incentive to Annual Operating Plan budgeted amount as per planned.
  • Annual Operating Plan Planning & Sales Target Setting.
  • Support the Vice President, Service and Sales Performance in planning and executing sales targets for all RBWM sales roles to ensure business goals and objectives are met.
  • Working with RBWM Business Finance team to develop incentives schemes to motivate sales staffs yet maintain a healthy record
  • Internal and External Benchmarking. Working closely with the distribution function, conduct periodic assessments with internal sales staff and external sources to measure relevancy of our incentive schemes, yet not compromising on our competitiveness.
  • Review and Develop Competitive Incentive Scheme by combining behavioral results and benchmarking studies, providing feedback to Asia Pacific and Group in developing competitive incentive schemes which treat customers fairly
  • Provide technical knowledge to the development of incentives schemes.
  • Aligning with the Group best practices by including the study of regional incentive management and the alignment with Group's incentive reward concepts which include the procurement of incentive management systems that other Group members are using.
  • Incentives Calibration. Conduct quarterly incentives calibration exercise with various Business Heads and Human Resources to ensure fair and appropriate incentives payouts to sales staffs.
  • Sales Data Integrity. Working closely with Data and Information Management team to deliver high sales data accuracy to Business Heads.
  • Sales Staffs Scorecards. Ensure timely release of performance scorecards.
  • System Maintenance. Working closely with Asia Pacific Support team for refinements to systems to meet local requirements and business needs.
  • Sales Book Reporting. Providing country's sales performance to Asia Pacific and commentaries on performance trends. Point person in Singapore for RBWM monthly sales performance.
  • Education on RBWM Incentive Framework, communication of the RBWM Incentive Framework to all sales staffs via Branch visits or team hurdles.
  • Support Regulatory Review and Audit. Point of contact for any regulatory review or audit process with regards to sales incentives management.


Qualifications
Requirements
  • Relevant years of experience in the banking industry.
  • Able to demonstrate good understanding of retail banking products and services
  • Strong numerical skills.
  • Advance levels in Microsoft Office and other data management software is a requirement.
  • Working experience with Senior Management would be desirable
  • Prior experience in financial management and database management will also be an added advantage.
  • Must have good aptitude towards analysis and with lateral thinking skills to consider our of the box fresh approaches in managing data with strong problem solving skills.
  • Other essential skills include decisiveness, creativity, innovation and having customer drive and commercial orientation
You'll achieve more when you join HSBC.

Candidate with less relevant experience or skills may be offered a lower Global Career Band than stated above.

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