Associate Director, Trustee Services

Job Summary

The Financing & Securities Services (FSS) business has a unique footprint in Asia, Middle East, and Africa, and offers a growing range of products, including direct custody, international custody, funds services, trustee services, transfer agency, prime services, and agency securities lending, to a number of client sectors including banks, investors, intermediaries, sovereigns, fund managers insurance companies and corporates. 

The jobholder is responsible for Trustee Services in Hong Kong with oversight of business operations as well as responsible for (i) enabling a competitive trustee services suite that will retain the existing book of business, (ii) developing new trustee products and services to respond to market changes and generate new revenue streams and (iii) to ensure these is done within a controlled and compliant environment.

•    Dynamically manages the entire suite of trustee and fiduciary offering for Hong Kong, which support a number of funds and product types.
•    Regularly reviews the product suite to ensure its competitiveness and viability and in line with market and regulatory development
•    Assist in leading the functions such as core Trustee Product Management, to drive client agenda and business goals,
•    Conduct and provide insightful analysis of industry developments, market changes and competitor offerings to identify threats and opportunities, assess the impact on clients and offer appropriate and innovative product solutions,
•    Works collaboratively with members of the FSS, Financial Markets (FM), Client Coverage (CC), Operations teams to ensure cross-product, cross-business opportunities are realised,
•    Maintains close contacts with key clients to maintain strong familiarity with changing view and priorities within the industry, 
•    Assist in leading the FSS Innovation agenda for Trustee Services, ensuring FSS are outpacing industry peers in both thought and delivery leading to commercialisation.

Job Responsibilities

•    Executes the strategy for the FSS fiduciary product suite and work within the overall business strategy and corporate plan for the business.
•    Functions as a key contributor to the trustee and fiduciary development of the strategy for the FSS business globally.
•    Ensures the strategy for Strategic Client Initiatives, and other functions within the overall product management capabilities.
•    Works across CCIB and the Bank to ensure strategies for trustee and fiduciary services are aligned.
•    Represents the business to internal and external constituents as the senior business representatives on fiduciary matters
•    Collaborates with FSS Ops to design and implement scalable, automated, and commercially viable operating model for the business, capable of adaptation to satisfy changing business and regulatory requirements.
•    Maintains detailed financial analyses for fiduciary product suite to identify areas of financial strengths and areas of improvements, as well as for crafting strategical / tactical responses with the evolving financial trends.
•    Co-ordinates global fiduciary product activity to minimise overlap and maximise sharing and re-use of solutions.
•    Manages relationships with functions such as Risk, Compliance, Legal, Finance as they impact the evolution of the FSS product suite.
 Drives consistent trustee’s standards of performance and output across all types of funds products 
•    Maintains senior-level contact with regulators and infrastructures within the region and communicates developments to the relevant stakeholders.
•    Proactively solicits feedback from FSS Sales, Relationship Management, and Operations teams to assess performance and the relevance/ usefulness of output.
•    Oversees trustee operation outsourcing, coordinate and execute all required due diligence on 3rd parties e.g. client, service providers, vendors and agents and ensure internal procurement protocols and procedures are observed and complied with
•    Co-ordinates with legal, risk, operation and compliance teams to discharge fiduciary duties of the trustee and ensure relevant regulatory and fund requirements for trustee and the fund, Group policies and procedures are compiled with
•    Collects and reviews monthly KPI/MIS reports and score cards, and prepares monthly internal management reports
•    Co-ordinates meetings of board of directors and management committee and assists in escalation of significant matters

Job Requirements

The jobholder will have been educated to degree level with extensive experience (minimum of 10 to 15 years) - in financial and securities services industry. Additionally:

•    Deep local market knowledge & client buying behaviours
•    Market profile and credibility with clients 
•    Technical trustee or funds product knowledge including MPF, SFC funds, etc. 
•    Experience developing and executing segment strategies
•    Strong interpersonal and communication skills (lead by example) – demonstrable experience of global coordination, running workshops & problem-solving 
•    Highly organised and an exceptional communicator, able to work effectively in a matrix organisation
•    Mandarin and Cantonese a plus