Job Description

Role purpose

The CEO, Country Head of Insurance (Mexico) is accountable for setting and delivering the strategy, financial performance, and risk/control outcomes of the Group’s insurance business in Mexico, operating within a bank-led distribution model (bancassurance).

The role ensures the insurance business grows profitably and responsibly, delivering fair customer outcomes and strong operational resilience, while remaining fully aligned with Group strategy, risk appetite, and local regulatory requirements. The CEO, Insurance acts as the senior executive representative of the insurance entity with regulators and key stakeholders, and is a strategic partner to the Bank leadership to maximise bancassurance value in a well-governed, customer-centric way.

Principal Accountabilities and Responsibilities

A. Strategy and business leadership

Define the Mexico insurance strategy (3–5 years) across Life, Health and PPR, aligned to Group priorities and the bank’s country strategy.

Own the end-to-end insurance business plan: product roadmap, distribution strategy (bancassurance + other channels where applicable), customer experience, and operational capabilities.

Establish effective governance with the Bank to deliver insurance growth while managing conflicts of interest, suitability, and conduct risks.

B. Financial performance and value creation

Full accountability for the insurance P&L in Mexico: premium growth, profitability, expense discipline, and sustainable unit economics.

Manage insurance-specific performance drivers:

New business and in-force growth, persistency/retention, and customer value.

Technical profitability: claims ratio/siniestralidad, expense ratio, and portfolio profitability by product/channel.

Appropriate reserving, capital/solvency management (as applicable), and reinsurance optimisation.

Approve investments and initiatives (technology, process, distribution enablement), ensuring robust business cases and delivery.

C. Distribution, bancassurance growth, and customer outcomes

Lead the bancassurance agenda jointly with Bank stakeholders: sales strategy, pipeline, incentives governance, and front-line capability building.

Ensure responsible selling: product suitability, transparency, training/certification, documentation standards, and quality assurance.

Drive a strong end-to-end customer experience: onboarding, policy servicing, renewals, and claims as a signature moment of truth.

Oversee complaint management and remediation to ensure fair customer outcomes and protect the franchise.

D. Risk management, compliance, and conduct (first-line accountability)

Ensure the insurance business operates within the Group’s risk appetite and complies with local insurance regulation and relevant banking/consumer standards.

Oversee key insurance risks: underwriting, pricing, claims, reserving, reinsurance, operational risk, model risk, third-party risk, and conduct risk.

Ensure strong controls across financial crime interfaces (where relevant), data privacy, fraud prevention, and customer protection obligations.

Drive timely remediation of audit/compliance findings and maintain strong control self-assessment practices.

E. Operating model, operations, and resilience

Define and run an effective insurance operating model within the bank environment, clarifying decision rights and service levels with shared functions (Operations, Technology, Finance, Risk, Legal, HR).

Ensure operational resilience: business continuity, incident response, cybersecurity alignment, outsourcing/vendor oversight, and recovery testing.

Strengthen claims operations, service performance, and productivity through continuous improvement and digitisation.

F. Product governance and innovation (Life, Health, PPR)

Own product lifecycle governance: design, pricing, underwriting rules, documentation, disclosures, and ongoing product reviews.

Ensure products remain competitive, compliant, and fit for purpose, with clear target markets and distribution controls.

Sponsor innovation (digital journeys, embedded protection, analytics-driven underwriting/claims) while ensuring ethical and compliant use of data/AI.

G. Leadership, talent, and culture

Build and lead a high-performing insurance leadership team; ensure succession planning and capability development.

Promote an inclusive culture with accountability, collaboration with bank teams, and a strong customer-and-control mindset.

Act as a visible leader with regulators, employees, and key partners; represent the business credibly at Global/Regional forums.

Some of the area’s KPIs include:

• Reported ROTE in alignment with IWPB FRP
• Direct costs
• Revenue in alignment with IWPB FRP
• New Business CSM
• ANP
• Total Insurance distribution revenue
• Shareholder’s Dividend – achievement of plan dividend
• Drive collaboration with CIB with a particular focus on Wealth
• Improvement in NPS score ranks across priority Insurance markets

Customers / Stakeholders

• Customers: Consumer banking customers across segments purchasing manufactured, protection and investment-linked life solutions; focus on suitability, transparency, and long-term value.
• Bank stakeholders: Global Insurance, IWPB, Divisional/Regional Directors, Retail Banking leadership, Branch Managers, Relationship Managers, digital and distribution teams.
• Insurance/partner stakeholders: General Management, Commercial, Product, Operations, Training, Compliance/Legal, Risk, and third-party providers.
• External ecosystem: Regulators and market bodies as relevant (e.g., CNSF/CONDUSEF/CNBV context), and institutional partners.

Leadership & Teamwork

• Set clear direction and priorities; create a cadence that drives execution while maintaining strong controls.
• Partner closely with the Bank CEO/Country Manager and bank executives (Retail, Wealth, Operations, Digital, Branch Network, Contact Centre) to embed insurance in the bank’s customer journeys.
• Build strong relationships with second line and assurance functions (Risk, Compliance, Legal, Audit) and treat them as partners in sustainable growth.
• Lead through influence in a matrix environment, aligning incentives, resolving trade-offs, and preventing “grey areas” between bank and insurer.
• Communicate crisply with Global/Regional stakeholders; escalate early and manage issues to closure.
• The Insurance area has 345 FTEs under its responsibility.

Funtional Knowledge

• Insurance leadership (Life, Health, PPR)
• Technical and commercial understanding of Life and Health products, long-term savings/retirement (PPR), and related protection propositions.
• Underwriting, pricing, claims management, reserving principles, and portfolio management.
• Reinsurance fundamentals and the ability to optimise reinsurance structures strategically.
• Understanding of insurance solvency/capital topics (as applicable locally) and their business implications.
• Bancassurance and customer experience
• Proven expertise in bancassurance operating models, incentive governance, sales quality frameworks, and suitability controls.
• Ability to embed insurance into bank-led journeys (digital + branch), improving conversion and customer outcomes.
• Strong grasp of conduct risk, consumer duty/fair treatment principles, and complaint/root-cause management.
• Risk, compliance, and regulation
• Working knowledge of Mexican insurance regulation and supervisory expectations; ability to engage confidently with regulators.
• Strong control mindset across operational risk, third-party risk, data privacy, fraud, and financial crime interfaces.
• Transformation and management
• Strategy execution, change leadership, and programme/portfolio delivery.
• Data/analytics and technology literacy to sponsor digitisation and automation in claims, underwriting, and servicing.

HSBC is an equal opportunity employer 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. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.