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Director, Wealth Planning, PvB

Standard Chartered Bank • Full Time • Central And Western District, Hong Kong, HK • 1d ago

Job Summary

Be part of the Wealth Planning and Family Advisory (WP & FA) team based in Hong Kong and the wealth advisory business for Standard Chartered’s Global Private Banking (‘PB”) in Hong Kong.
The individual should be working with relationship managers, team heads and market heads to develop client relationships and conversations using the different topics and subject matters which a wealth planner and family advisor should be able to leverage.
The individual should support the Head of Wealth Planning and Family Advisory in Hong Kong in driving strategy implementation, business growth, value proposition offerings, people agenda and key internal and external partnerships to help the Regional Head in Hong Kong build the overall PvB business.
The individual should also provide technical support to PvB RMs based in Hong Kong with the sale and maintenance of fiduciary services and assist in making referrals of their clients who are looking for insurance offerings to third party brokers.
The individual will support Private Bank in bringing in new clients and relationships while maintaining and deepening existing clients and relationships.

Additionally, an individual who demonstrates:

Strong Mandarin language and written capabilities to support the China and Taiwan markets;
Proficiency with the legal, tax and private client laws of China and Taiwan; and
Awareness of the socio-economic landscape of Chinese and Taiwanese ultra and high net wealth individuals would be well positioned to contribute to PvB’s growth and support PvB RMs.
This is to be accomplished while giving appropriate consideration on maintaining product integrity and conduct, minimising risk, avoiding litigation and achieving NNM and other business targets.
The support provided to the RMs, maintenance of fiduciary services and assistance on referrals to third party insurance brokers are expected to lead to NNM and increase both AUM and revenues for the bank.

Key Responsibilities

Strategy

Drive profitable growth by acquiring, deepening, and retaining client relationships with HNW and UHNW clients
WP & FA are growing areas of interest for UHNW clients. The WP should working with internal and external partners to bring competitive and comprehensive WP & FA solutions to UHNW clients.
In line with the focus to grow our UHNW business in Private Bank, to work together with the global team of wealth planners across key locations and offer an aligned and global proposition to UHNW clients that have WP & FA needs across geographies.
Develop WP & FA product and service offerings
The individual should develop the right skills and knowledge to achieve WP & FA KPIs where needed by business.
Achieve NNM target and other KPIs including client engagements.
Work closely with the Head of WP & FA the team to promote WP & FA capabilities
Assist with the management of key external relationships e.g. with approved Insurance brokers, trustees, accounting firms, tax advisors, immigration specialists

Business

Designated lead to engage new business prospects for fiduciary services
Provide technical support to RMs in relation to the sale of fiduciary solutions and referral of clients to insurance brokers.
Act as a conduit between the Private Bank and SC Trust for ongoing fiduciary matters with existing clients.
Work closely with RMs to develop their marketing and business development plans for offering fiduciary services to clients.
Contribute to the preparation of marketing and sales materials to support the fiduciary business, ensuring that these are all approved by local Legal & Compliance.
Work closely with SC Trust to deliver the appropriate solutions for clients.
Assist in creating the WP & FA proposition and sales strategies for all RM teams in Hong Kong AC.
Review the new business to be introduced to SC Trust to ensure manageable levels of fiduciary, reputational and legal risks.
Present the new business to LCC or GCC for approval.
Continue to monitor and assist the RMs and their clients in connection with their fiduciary structure alongside the RMs and making amendments as and when necessary, to meet any change in circumstances or needs for the clients.
Work closely with other relevant product teams and key stakeholders in the development of new products and ongoing adherence to and monitoring of developments and changes to existing products (and related policies and processes) and preparation and presentation of exceptional cases to the LCC.
Assist and attend client meetings with RMs in Hong Kong and outside Hong Kong with regards to the WP & FA offering.

Processes

Support the continuous improvement of processes to increase operational efficiency and effectiveness.
Support the effective management of operational risks across the Business and in compliance with applicable internal policies, and external laws and regulations at a global level.
Support the delivery of Business strategy in a safe and well-controlled manner and on an end-to-end basis.
Ensure sales management, suitability and onboarding processes are applied appropriately

People & Talent

Train and assist the RMs so that they better understand the fiduciary structures.
To the best of their knowledge, monitor and keep up to date with changes in tax laws and other legislation that affect the fiduciary business and report impact on changes to regional markets.
Support in creating a WP & FA proposition and sales strategies for all RM teams in Hong Kong AC.
Work together with Head of Wealth Planning & Family Advisory on the above mentioned objective to ensure the establishment of a strong and healthy business succession pipeline.

Risk Management

To comply with the highest standards of regulatory and business conduct and practices as defined by internal and external requirements.
Understand and ensure compliance with, in letter and spirit, all applicable laws, regulations and guidelines including those governing securities activities, company law, anti-money laundering, terrorist financing and sanctions; the Group’s policies and procedures; and the Group Code of Conduct.
Ensure that Risk Management matters that are brought to attention are subject to direct remedial action and/or ensure adequate reporting to the relevant Risk Committees and/or line management.
Handle customer issues, complaints, and product enquiries on timely basis in accordance with established procedures

Governance

Responsible for assessing the effectiveness of the Group’s arrangements to deliver effective governance, oversight and controls and highlighting gaps as appropriate.
Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
Fulfil supervisory responsibilities in line with supervisory principles.
Ensure adherence with the highest standards of ethics and compliance with relevant policies, processes, and regulations forms part of the culture.
Participate in Local Client Committee and other relevant committees where applicable.
Engage with all audit report findings and ensure feedback is acted upon

Regulatory & Business Conduct

Display exemplary conduct and live by the Group’s Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders

Global Head of Wealth Planning & Family Advisory
Head of Wealth Planning & Family Advisory, GCNA
Head of SC Trust
Wealth Solutions Product teams in Hong Kong
Regional Head / Market Heads
Senior Client Partner / Team Leaders
Head of Client Services Manager
Client Service Managers
Product Specialists and dedicated functional partners
Relevant Front office colleagues
External Tax and Legal Firms
Market Counterparts
External insurance brokers

Other Responsibilities

Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures;
Multiple functions (double hats);

Skills and Experience

Relationship Management
Market Knowledge (SIF)
Products and Processes
Strategy and Business Model (SIF)
Manage Conduct
Manage Risk

Qualifications

Academic or Professional Education/Qualifications -University Graduate with a Legal qualification preferred.
Licenses and Certifications/accreditations – as required by role remit and responsibility
Professional Memberships – Relevant STEP or ICSA and valid Qualification/ Membership (as required by role remit and responsibility)
Bank training, i.e. mandatory & developmental
Demonstrable and relevant experience in the Fiduciary / Private Banking industry commensurate with this remit and level of responsibility.
Languages – fluency in business English and Mandarin/speaking other languages will be an advantage.
Demonstrable and relevant experience in the Private Banking industry commensurate with this remit and level of responsibility
Proven risk management capabilities
Firm in all business guidelines and compliance issues
Sound knowledge of financial markets and investment products
Outstanding communication and presentation skills

What we offer
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
Flexible working options based around home and office locations, with flexible working patterns.
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

www.sc.com/careers

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