Senior Insurance Digital Product Manager

Posted - Accepting applications

The Insurance Senior Product Manager role is based within Head Office.

Insurance UK are responsible for the manufacturing, sourcing and supply of insurance products and services for HSBC UK, first direct, M&S Bank and Commercial Banking, with external distribution for a number of product lines under both the HSBC and other brands.

The Senior Product Manager will help to lead the UK Product Team and to manage the integrity, promotion, maintenance and development of new and existing products in line with the Annual Operating Plan (AOP). Thus ensuring that the proposition design continues to meet the regulatory, competiveness, service level and needs of our customers, stakeholders and shareholders.

We are looking for passionate and driven individuals to join a dynamic Insurance team. We want people who know how to lead digital transformation as they have a hands-on experience of delivering digital change across industries (whether large corporates or Fintech/start up style companies, any sectors).

The individual in this role will be responsible for turning our Insurance proposition (Life, Health, and GI) into a digitally led offer. This may imply new products, services, partnerships or ecosystems, both internal and external.

The role holder will need to ensure these features are best in class, simple, easy to use and differentiating HSBC from competitors (not only other banks but the new breed of digital competitors offering financial products and insurance).

The customer journeys should be designed for digitally first experience and not merely €œcopying” interactions from other channels. As certain products might be manufactured by a 3rd party and sold/serviced through HSBC digital channels the individual will need to manage hand-off points between different parties accordingly. Likewise, it will be imperative to account for the multi-channel experience and work in collaboration with other impacted areas e.g. relationship managers in branches and/or call center.

The individual will also be expected to bring innovative ideas to the table by closely monitoring other banks, Fintech and customer trends and understanding implications on HSBC’s strategy.

Last but not least, experience with user lead design and working in Agile environment will be critical to deliver a proposition that truly meets our customers’ expectations, the role will drive forward initiatives which help to ensure our customers’ needs are achieved.
Your responsibilities will include:
  • Leading the development, maintenance and implementation of new and existing insurance products and services with internal and external stakeholders, through influencing and negotiating techniques.
  • Demonstrating a detailed understanding of the key business metrics (profit, brand, resource and cost) and ensuring these are always considered.
  • Applying the understanding of Bank, Insurance and IT strategies to formulate effective designs that meet customer needs, secure competitive advantage, reducing costs and/or improving income.
  • Planning and prioritising activities to ensure delivery in line with agreed objectives; individual and business.
  • Continual assessment, identification and implementation of opportunities for product improvement and mitigation of risk.
  • Setting the business agenda to achieve improvement for the customer, stakeholders and shareholders.
  • Demonstrating leadership through personal drive, energy, tenacity and resilience through a complex governance and matrix managed business.
  • Driving momentum for delivery across the team/department/ wider business.
  • Initiating, building and maintaining trusted relationships with key internal and external stakeholders across the full product journey, including but not exclusive to; product design and propositions, marketing, distribution, retention, procurement, business performance, Wealth, Group Insurance, Underwriting, Claims, servicing and Global Functions – Legal, HR, Risk, Compliance, Finance, Change Delivery.
  • Understanding, aspiring and managing yourself and others to ensure that right results are achieved, in the right way – in line with HSBC’s Values and Behaviours.
  • Leading and facilitating open and honest communication across various mediums displaying leadership skills with tact and integrity.
  • Driving change in the wider team, sharing knowledge and expertise, either in a line role, project team or cross functional group.
  • Driving self-development and developing others to bring out the best in everyone in an inclusive way.
  • Ownership and oversight of the Operational risks associated with the delivery of new products and initiatives, maintenance and assessment of existing product or exiting of products/relationships, taking account of but not exclusive to; changing economic or market conditions/legal and regulatory requirements/ operational procedures and restructuring/new technology/ internal audits.
  • Demonstrating understanding and adherence to the regulatory environment and Governance Process.
  • Delivering fair outcome for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.

The ideal candidate for this role will have knowledge/experience:·Experience in delivering digital transformation with tangible outcomes either within financial services industry or other organisations. Candidates with non-FS background will be expected to explain how their experience can benefit banking industry
·Ideally, past work experience with digital insurers
·Experience with User Led Design, prototyping, working in Agile environment
·Extensive experience with the range of business development activities including identifying opportunities and developing business cases, defining product or service requirements, engaging a wide range of functional experts to agree deployment approach, project execution, launch, and post launch performance measurement and management
·Comfortable with technology including ability to translate business and customer needs to IT requirements
·Exposure to projects that touch a range of technical platforms (digital, mainframe, server based etc).
·Strong thought leadership and creativity to proactively propose new business opportunities and resolve issues
·Competent with project planning and reporting
·Demonstrates flexibly when addressing shifting or competing priorities
·Proven ability to build strong relationships across stakeholder groups
·Proven ability to influence large teams with direct leadership authority
·Able to share responsibility for key decision making with a team, while accepting responsibility to drive internal decision-making processes.
·Ability to effectively influence and communicate across various business lines and units and at senior levels within the organisation. Excellent at navigating differences of opinions. Experience in developing and executing customer facing and staff facing communication
·Strong analytical and presentation skills
·Energetic, positive attitude and team player
·A flexible approach to work and working hours. Willingness to travel internationally.
·Fluent English (day to day work language is English. Fluency in Mandarin Chinese as well would be preferable)
·Bachelor’s degree or equivalent preferable
The base location for this role is 8 Canada Square, London.
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.
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