Job Description

Job descriptionSome careers have more impact than others.If you\xe2\x80\x99re looking for a career where you can make a real impression, join HSBC and discover how valued you\xe2\x80\x99ll be. 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) helps deliver on HSBC\xe2\x80\x99s purpose of opening up a world of opportunity by providing our customers with borderless banking and world-class wealth management through best-in-class, mobile-first capabilities and exceptional people. Our international network and breadth of expertise enable us to support individuals, families, business owners, investors and entrepreneurs. Wealth and Personal Banking has four key business areas responsible for efficiently bringing the best of HSBC to our clients through a broad and relevant suite of wealth and retail banking capabilities: Asset Management, Global Private Banking & Wealth, HSBC Life, Retail Banking & Strategy and COO & Digital Transformation.We are currently seeking a high caliber professional to join our team as a Head of Operations, Life & Health \xe2\x80\x93 HSBC Life Singapore \xe2\x80\x93 18 months FTC (Fixed Term Contract).Role PurposeHSBC Insurance is a key contributor to WPB and HSBC profitability, returns and expected growth. It is one of the key HSBC growth strategic priorities and is subject to significant investments including the launch of new businesses and propositions, notably FA/Wealth Planners, Health and Wellness and Employee Benefits. Its strategic plan also requires a significant uplift in customer acquisition and growth requiring improved customer experience and increased operational efficiency through digitization.HSBC Life Singapore manufactures insurance products and distribute them through multi-channels. The purpose of this role is to provide leadership and to manage the Singapore Life & Health Insurance Operations. The role holder is accountable for providing oversight over both onshore and offshore Operations teams. Key responsibilities will include:

• To ensure that on-shore and off-shored processing are working in accordance to established KPIs, SLAs and all global and local procedures and guidelines are complied with and acceptable levels of risk controls and adherence to regulatory requirements.
• Managing the consolidation of Life and Health Operations to achieve operational synergy and effectiveness.
• Managing the remediation of any controls and process gaps in line with first line identified issues, audits, and any regulatory requirements.
• Supporting business growth initiatives, ongoing AXA integration and TSA exit etc. guiding execution in conjunction with Transformation and IT.
• Managing the delivery of products and services to customers consistent with the business strategy, across all Life products.
• Designing and executing a strategy to drive operational excellence and the delivery of customer centric services.
• Managing the relationship and reporting on the performance of internal and external service providers under agreed SLAs and PLAs.

The role holder will work closely with other business and functional teams, including Distribution and Underwriting and Claims, to ensure that customers receive the highest level of customer service throughout the policy lifetime. They will be expected to ensure all internal and external regulations and guidelines are met and that processes are fully compliant with required HSBC standards.Principal Accountabilities:Impact on the Business / Function

• Design and delivery of the Strategy to deliver operational excellence and customer centric services.
• Plan and manage available resources within HSBC Life Singapore Operations.
• Deploy best practices and constantly look for opportunities to enhance those practices including enhancements to customer experience.
• Reduction of costs through eradication of non-value added or duplicated activities and/or migration of activities to lower cost offshore centres.
• Manage the ongoing IGSA/PLA with offshore teams and provide oversight, communications, training and support to ensure services are compliant and of quality standard.
• Support Underwriting, Claims, Case Managers, Transformation and other internal teams in new business, policy servicing, client services, complaints management etc.
• Ensure all activities are delivered in accordance with procedures and service standards and the business operates in accordance with Group and regulatory compliance and are subject to robust internal control.
• Develop and communicate key performance indicators to enable senior management to monitor progress in all key operation aspects of Life insurance; and
• Manage policy administration systems related operational incidents, data queries and SME Projects

Customers / Stakeholders

• Meet customers\xe2\x80\x99 and distributors\xe2\x80\x99 needs and meet the strategic needs of the business by achieving operation excellence for all activities within HSBC Life Singapore Operations.
• Ensure the department can adapt to potential market needs, structural industry changes and plan ahead to maintain the competitive edge of the company.
• Develop and maintain sound and effective communications and relationships with internal and external customers.
• Ensure optimal cost effective and efficient operational processes to increase shareholder return.
• Support the handling of customer communications and complaints; and
• Oversee the resolution of incidents relating to HSBC Life Singapore Operations

Leadership & Teamwork

• Establish and lead an effective high performing team.
• Provide leadership for onshore and offshore HSBC Life Singapore Operations teams.
• Motivate and inspire a culture of service excellence.
• Manage, encourage, and mentor direct reports towards high performance.
• Maintain high engagement with Senior Management and Operations Executives to identify opportunities for improvement; and
• Work effectively with others within the organization in achieving the delivery of overall servicing and customer experience

RequirementsKnowledge & Experience / Qualifications

• Extensive operations experience in the new business and/or policy servicing area of a significant Life insurance business
• Industry knowledge, with particular strengths in Insurance operations, systems and organisation
• Well-developed strategic, business, and decision-making skills.
• Track record of leading process re-engineering and change management, with the ability to seek out improvements to existing processes, consistent with industry best practice.
• Large project experience
• In-depth understanding of performance metrics and financial measures for Insurance operations
• Sound understanding of distribution partners and market, for example branch network, customer segments, products offered and competitive market.
• Excellent communication skills and ability to manage multiple (internal and external) stakeholders.
• Strong managerial, interpersonal and leadership skills
• Track record of working in a matrix organisation, similar to that in HSBC
• Strong sense of risk management

You\xe2\x80\x99ll achieve more when you join HSBC.HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.Issued by The Hongkong and Shanghai Banking Corporation Limited.

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