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HSBC is expanding its sales team to capitalise on the need for long-term financial planning

Hongkongers are becoming more aware of the need for long-term financial planning and management, and this is creating new interest in wealth management services.

The city's leading bank, HSBC, believes it needs to maximise growth opportunities in the insurance market by expanding the sales force to complement existing services.

'There is potential for tremendous growth and we need to build on our resources to tap the [insurance] business,' said Albert Chan, senior executive, commercial banking, HSBC.

The global financial services company has 52 insurance salespeople and wants to increase the headcount to 76 in the first half of this year.

The bank has two main insurance subsidiaries in Hong Kong: HSBC Insurance (Asia), which consists of a team of insurance underwriters; and HSBC Brokers Insurance (Asia-Pacific), which provides general insurance broking services.

According to Mr Chan, HSBC needs to hire seven to eight insurance managers who will be responsible for general insurance in categories such as accident and health, property damage, goods in transit and motor vehicle insurance.

There is one position open for an insurance sales manager, who will be responsible for employee benefits such as employees' compensation insurance and group life insurance.

HSBC is also looking to recruit insurance relationship managers, who will work closely with the broking arm to provide clients with solutions.

'There's a need for 12 to 13 employees in this division plus a number [of people] for clerical support,' Mr Chan said.

These new positions require candidates who have a university degree, five to seven years of work experience in the insurance field and professional insurance licensing qualifications.

'But most importantly, we are looking for candidates with an outgoing personality, inter-personal and negotiation skills and a hunger for business. We are providing them with [not only] a fixed base pay, but also a unique performance-linked bonus scheme and this is the first of its kind in Hong Kong,' Mr Chan said.

There are plenty of career growth opportunities as insurance officers can move up to become insurance sales managers and, in time, become senior insurance sales managers.

HSBC provides recruits with multiple opportunities. They could choose to specialise in insurance or even cross over to the banking side of the business.

The bank conducts orientation and training programmes for recruits to understand the organisation's values, products and services better.

There are plenty of learning opportunities during interactions with customers. Recruits will accompany relationship managers for meetings with the bank's wealthy clients.

'This will be a rare opportunity for them to reach high-ranking individuals in Hong Kong - those in senior corporate positions, celebrities and successful, high-profile businessmen.'

HSBC is experimenting with a new insurance sales team in Hong Kong before replicating the business model worldwide.

NEW POSITIONS

HSBC is looking to fill about 25 positions for its newly created insurance sales force.

Seven to eight insurance managers will be hired for general insurance, and one insurance manager will be responsible for employee benefit schemes.

HSBC is also looking to recruit 12 to 13 insurance relationship managers and some staff to provide clerical support.

Candidates need to have a university degree and five to seven years of work experience in the insurance field. They should also have professional insurance licensing qualifications.

To fill these positions, the bank is looking for outgoing personalities with good interpersonal and negotiating skills, and a hunger for business.



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HSBC

Insurance for a bright career