Job Description

Job description

The health and safety of our employees and candidates is very important to us. Due to the current situation related to the Novel Coronavirus (COVID-19), we're leveraging our digital capabilities to ensure we can continue to recruit top talent at HSBC. As your application progresses, you may be asked to use one of our digital tools to help you through your recruitment journey. If so, one of our Resourcing colleagues will explain how our video-interviewing technology will be used throughout the recruitment process and will be on hand to answer any questions you might have.

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If you're looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

Wealth and Personal Banking (WPB) is our new global business combining Retail Banking and Wealth Management; and Global Private Banking, to become one of the world's largest global wealth managers with USD1.4 trillion in assets. Across Asia, where wealth pools are growing faster than in any other region, HSBC's wealth revenues grew 12% in 2019 (year-on-year) to USD5.7 billion. Our dedicated colleagues serve millions of customers worldwide across the entire spectrum of private wealth, ranging from personal banking individuals and families, through to business owners, investors and ultra-high-net-worth individuals. We provide products and services such as bank accounts, credit cards, personal loans and mortgages, as well as asset management, insurance, wealth management and private banking that best suit our customers' needs.

We are currently seeking an experienced professional to join the INM WPB team.

Role Purpose

• Be the VRM for Debt Collection Agency / Agencies (DCA).
• Manages relationships and engages with Business Partner as primary Relationship Manager
• Required to meet set performance targets as agreed with the business requirements. These targets would be expressly documented in the PLA documents signed by business.
• Implement collection standards (Global initiatives such as C19, C23, C34, C41, C29 etc.) while providing direction & support to the External Vendors.
• Optimize Cost and Capacity Management
• Enhance collection / recovery to help reduce / minimize credit loss.
• Manage "Risk" by way of identification & assessment and to mitigate such risk by implementing agreed strategy and by exercising good control.
• To ensure Bank's laid down processes & polices are followed and customer fairness principles are adhered to all the time.
• Drive performance of External vendors matched against expected delinquency, MRR Flow Rate & Loss rate.
• To maintain, HSBC's internal control standards, including the timely implementation of internal & external audit points together with any issues raised by any external regulators.

Principal Accountabilities

Impact on the Business / Function

• Maximize collections of debts & to monitor delinquent portfolio
• Set monthly / quarterly targets for the DCA in line with business requirement.
• External Debt Collection Agencies (DCA's) are motivated to achieve the set targets in terms of MRR, GCL & Provision releases & saves while remaining aligned to our operating principles.
• Implement collection standards (Global initiatives) to help mitigate conduct and reputation related risks.
• To extend support to External Debt Collection Agencies (DCA's) in helping them imbibe and follow HSBC's Customer Fairness Principles.
• Participate and lead negotiations with customers on a need basis.

Customers / Stakeholders

• To ensure all customer complaints are documented and resolved within a defined TAT.
• To ensure all customers are treated fairly as per Customer Fairness Principles & deviation noted to be escalated.
• This role requires frequent interaction with people, especially Front-line managers, Senior Managers, Policy, and other stakeholders.

Operational Effectiveness & Control

• Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators.
• To ensure all the Information Security Risk (ISR) guidelines are adhered by the DCA.
• Run business in accordance with all guidelines and instructions covered under DIM, BIM, LCM, DCA guidelines and Customer Fairness Principles
• Achieve satisfactory audit ratings with neither any major repeat recommendations nor any adverse findings from external auditors or any compliance review.
• Highlight performance / nonperformance & non-adherence of process & policies if any and guide DCA(s) towards continued improvement
• Conduct necessary governance reviews such as adherence to the Service Level Agreement, Call Evaluations as per approved process and policies,
• Respond all customer service escalations and escalate the same to Customer Complaints team and ensure Upheld complaints don't exceed the agreed threshold.
• Analyze the portfolio and provide feedback to the risk department in terms of fraud accounts
• Ensure Implementation of the PVC policy.
• UAR's to be raised appropriately
• Conduct audit checks and provide timely, formal feedback to DCAs.
• Regularly monitor Service Providers' service levels and costs by maintaining and regularly updating a management information system (MIS)
• Check accuracy of billings (sign off on the billings) before obtaining approval for payment
• Perform at least an annual risk evaluation and mitigation analysis with regard to the outsourced activity.
• Perform all First LoD activities on timely basis.

Major Challenges

• Needs to ensure collection standards i.e., Global initiatives are well imbibed and abided by DCAs.
• Keeping CFP core to our overall collections approach.
• Role holder is required to have an eye for details and an ability to adapt to ever changing dynamic business requirements
• Ability to prioritize, multi-task and at the same time meet stiff deadlines.

Role Context

• The role principally is that of a VRM with policies and processes to be followed being well documented.
• The job holder is empowered to guide vendors on customer related offers / settlements and lead negotiations with customers.
• Needs to regularly monitor the collection vendor and provide feedback to ensure efficiency as well as effectiveness.
• BCP tests and other contingency requirements are in place for uninterrupted service.
• Implement appropriate policies, strategies, checks & audit control tools which should lead the Collections and Recoveries functions with the objective of containing delinquency and minimizing credit losses for all products

Management of Risk

• Demonstrate leadership on Regulatory & Compliance matters. Maintain awareness of operational risk and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting in accordance with section B.1.2 of the Group Operations FIM.

Internal Controls

• Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators. Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, and optimizing relations with regulators

Role Dimensions

• The jobholder is responsible to manage the delinquent portfolio and minimize losses defined as the net B&D charge for RBWM business in the respective location.
• He is also responsible for the operations of external debt collections agency in compliance with standards prescribed / detailed under collections C19 and C23 initiatives.

Requirements

• Minimum Bachelor's degree / Graduation or as required for the role whichever is higher.
• 7 plus years of work experience preferably from collections
• In depth Knowledge of end-to-end Collection life cycle i.e. Frontend to Agency Collections with strong knowledge of Retail products. (E)
• In depth knowledge of Collections LIC & knowledge on roll rates & provisioning. (E)
• Strong verbal and business communication & writing skills. (E)

Additional Information

• Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.

Useful Link

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India