Operations Manager, Third Party Administrator - HSBC Life
Join our fast-growing Asia Wealth Management teams
HSBC Life is a world-class institution where you can specialise in Insurance but enjoy the advantages that come with being part of a leading global international bank. Insurance is about people, and the promises they make. At HSBC Life we help deliver on these promises by providing a wide variety of life insurance products and services to our clients throughout the Asia-Pacific region.
Our employees enjoy a dynamic and innovative workplace and a world of opportunities to develop their careers in a high-profile growing business segment. We empower our team of high-performing individuals to build skills and explore new experiences to realise the full potential of being part of HSBC.
Together we pursue efficient ways of working. We harness the latest data and technology solutions to achieve meaningful outcomes for our clients. The protection we offer creates broad and lasting impact, helping clients to be healthier, more productive and more confident in their futures.
We are currently seeking a high caliber professional to join our team as Operations Manager, Third Party Administrator
. Principal responsibilities
- Mainly responsible for the daily operation of employee benefits policy management operations in health and life insurance
- Follow the internal HSBC protocol and external regulatory requirement to support the Third Party Administration agreement with service supplier from health insurance perspective
- Ensure the Third party Administrator meet the KPIs and SLAs as per Third Party Administration agreement. Monitor trends and prepare necessary statistical information and regular reports for management use.
- Implement the target operating model related to Third Party Administration for new business and renewal, policy administration, billing and collection, claims, servicing, hotline etc. from Insurance, including Medical and Employee Benefit, Operations perspective
- Develop and implement policy, guidelines and standards related to Third Party Administration , for example, Member, enrollment, Cash flow, network management, contact centre, complaint handling. Regularly review the administration procedures to ensure all activities are processed in the most effective means.
- Collect market intelligence and feedback to facilitate services competitiveness improvement. Stay abreast of medical advance technology or information for cost containment.
- Works closely with the product team to ensure that risk management and loss control techniques are being utilized creating and maintain a link between loss control, underwriting and claims. Participate system enhancement for business growth and enhancing efficiency of the department.
- Support Claims Audits to review the operations processes, procedures and controls of Third Party Administration to ensure there are compliance to the Third Party Administration agreement and perform substantive analysis to ensure that claim assessment is done as per procedure and scheme coverage
- Ensure alignment with business strategy to deliver our strategic intent and business goals as required. Implement changes and initiatives as required by Group Insurance, HSBC and Strategic Partners, as required
- Oversee the responsible operational areas including support in the escalation and resolution of any issues identified
You'll achieve more when you join HSBC.
- Solid working experience in Employee Benefits Insurance area, preferably in medical insurance
- Knowledge on Employee benefits products and back office operations
- Proven and progressive experience preferably incorporating business operations management principles, including service quality, business control and continuous improvement activities
- Excellent understanding of quality assurance, control, metrics and continuous improvement
- Strong analytical skills to understand to translate, simplify and prioritize the requirement as well as root cause analysis for remedial actions and preventive measures.
- Strong communication and interpersonal skills required, including the ability to form effective relationships and achieve influence at the most senior level in the organisation.
- Understand and interpret complex business and Hong Kong Insurance requirements, including regulatory requirements
- Ability to work within an environment of different cultures.
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.