HSBC Group

Business: Asset Services

Open positions: Multiple

Role Title: Asset Servicing and Tax Support Processor

Global Career Band: 7

Location (Country / City ): India/Kolkata

Recruiter Name : Srinivasan S

The Opportunity:

• Asset Servicing (AS) team is part of the Markets and Securities Services Operations functions. AS team processes all voluntary and mandatory corporate action (including Income processing) across various UK, Europe and MENA jurisdiction. The department is also responsible for data validation for Equity and UK income collectives and capital mandatory corporate action. Team is divided into mainly three sub-groups -  COAC team (processes all capital voluntary & mandatory corporate action), Income processing team (processes Income for Dividend, Coupon interest payment & Pool factor processing) and Corporate action validation team (validates corporate action for Equity, UK Income collectives, Capital mandatory corporate action).
• To assist the Manager Operations in the delivery of services to assigned clients, in particular Income and Corporate Actions, all within agreed quality, timing and output targets.

What you’ll do

Principal Accountabilities and Responsibilities (e.g., for Business, Customers and Stakeholders; internal control environment, etc.)

Impact on the Business/Function 

• To support rollout of new products/ activities within Asset Services.
• Engage and drive efficiencies and business solutions through automation and be an agent of change.  Assist and participate in the deployment of defined business solutions to remove manual processes.
• Active participation and support of migration / re-migration of funds.
• Support department initiatives, regulatory, compliance and reduce risk.
• Formulate and implement robust control mechanism to eliminate risk (if any)

Customers / Stakeholders 

• Review the Postings/Packs and ensure all downstream/ BP queries are responded in a timely manner.
• Perform maker activities as and when required.
• Handovers are in place and all files are checked and there is an Escalation Matrix in place and followed diligently.
• Act as the primary contact for Country Office and downstream teams in relation to any query related to reconciliation/posting.
• Act as a backup for the Manager in his/her absence and manage operations.
• Develop and maintain relationships with internal customers & business partners through timely communication and BAU Calls.

Operational Effectiveness & Control

• To maintain HSBC internal control standards and support internal/external reviews including the timely implementation of audit points.
• Ensure Asset Servicing operating procedure is followed with management and assessment of risks (if any)
• Identify and reduce manual processes for enhanced operational control.
• Updating all MIS/trackers as required by the process.
• Enhancements to Job-Aid Matrix, SOP, process notes, checklists, KPI and internal processes as and when required.
• Complete all Mandatory trainings as and when required.
• Ensure timely follow up on the open & outstanding issues that hinder the valuation. Ensure, Escalation Matrix is followed as per agreed for both BP & SSO Kolkata.
• The working environment is very professional and the incoming individual will have to meet the work related challenges with the same zeal. To ensure that individuals are able to perform at the desired level, there will be process training & necessary guidance provide by the Line Manager on an ongoing basis.
• Located in MSS, GBM Kolkata City office.
• Role will be of individual contributor in nature and will not have team reporting to the role.
• The role will interface with all other MSS Departments and with HSBC global offices as appropriate.
• Role will require deputizing for the Manager whenever required.
• The role will require technical excellence to achieve target deliverables combined with the ability to get work done from administrators to achieve target KPIs.
• Multi-tasking with ability to independently prioritize workload without impacting deliverables.
• Provide support for seamless re-migration, on boarding of new business and funds in line with Global Operating Model
• The role will demand a daily balance of delivering an excellent client service within the standard Asset Servicing model of promoting continuous improvement of the processes along with identifying and capitalizing opportunities to create capacity and generate efficiencies.
• The major challenge for this role is to continuously deliver within the specified time limit with minimum or no errors. The individual will have to complete all the activities for the clients for self (including reviews) within the set time limit and ensure that the final valuation pack and requisites are delivered to the stakeholders within the PLA. 
• The individual needs to drive process improvement initiatives within the team and communicate with the team and other downstream to achieve the same.
• The individual needs to be flexible to work shifts and respond to additional business need if required.
• Be flexible to adopt in different working environment with counter parts across the globe

Management of Risk (Operational Risk / FIM requirements)

• High and increasing risk due to following:(FATCA / Dodd Frank / Volker / AIFMD / UCITS / DPA)
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology. 
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
• Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Leadership & Teamwork 

• Ensure continuous process related updates are cascaded to the fund administrators on an on-going basis.
• Undertake/conduct trainings/cross training for all staff including existing and new staffs and monitor the same in an ongoing basis.
• Perform any additional responsibilities that may be required by the Supervisor in support of the on-going management and development of the division.
• Perform UAT testing as and when required.
• Being proactive in identifying root cause for process related challenges and share qualitative resolution.
• Be flexible to adopt in different working environment with counter parts across the globe.
• Responsible for improving the team’s overall quality, productivity and communication.
• Contribute towards building an enthusiastic and motivated team
• Demonstrate HSBC Group Values and principles

What you will need to succeed in the role:

Functional Knowledge

• Applicant should have a Bachelor’s degree in commerce
• 3-5 years of relevant Funds administration experience.
• Complete understanding of Income & Capital Corporate Actions
• Excellent knowledge of Capital Markets and Financial instruments.
• Excellent knowledge in accounting principles and fundamentals of Accounting.
• Clear understanding of the E2E Fund Accounting Model.
• Basic knowledge in custody, brokerage, depository, investment accounting, mutual funds and reconciliations.
• Possess good analytical and problem-solving skills.
• Proficiency in EXCEL essential.
• Ability to speak and understand English
• Excellent interpersonal and team work skills.
• Organized and detail oriented.
• Demonstrates ownership of tasks and escalates to management when appropriate
• Ability to re-prioritize workloads due to changing circumstances; meet strict deadlines.
• Will be expected to maintain HSBC internal control standards, including the timely implementation of internal and   external audit points, together with any issues raised by external regulators.
• Must be aware of the operational risk scenarios associated with this role and act upon pertinent risk (if any).

Others

• B. Com, MBA or studying for other relevant industry qualifications.
• Working knowledge of ICE/Telekurs/ Bloomberg/Request Builder and other related packages.
• Working knowledge on any one or all platforms including TLM, ICON, GCS, XCEPTOR, XSP etc.
• Knowledge of the cash reconciliation, Accounting and Pricing, Corporate Action process.
• Prior Corporate Actions/Asset Services experience preferred.  
• Excellent customer service and communication skills.
• Will be expected to maintain HSBC internal control standards, including the timely implementation of internal and external audit points, together with any issues raised by external regulators.

Link to Candidate User Guide:

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You’ll achieve more at HSBC

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.”

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