Job Advert Details

Business: Direct Custody & Clearing MENA
Open positions: 1
Role Title: Assistant Vice President for Operations 
Global Career Band: 5
Location: Quezon City, Philippines
Recruiter Name: Ched Mulit


Why join us?

The jobholder will support the AVP to ensure that the HSS City Office Manila – DCC MENA proficiency level is within acceptable threshold. This may include, amongst other things, ensure that process and procedures are continually reviewed and improved and the changes are communicated and implemented seamless and effectively, identify and address knowledge gaps by reviewing error themes and implementing actin plans to close the gap, ensure high quality service to the business area ensuring that risks are minimized and profit is maximized through effective management of costs/resources. The job also entails checking on internal audits and measures undertaken and regularly reviews them in order to maintain quality and productivity at the optimum level.


What you’ll do:

Principal Accountabilities

1. To be aware of the Operational Risk scenario associated with the role, and to ensure that all actions during your employment with HSBC take account of the likelihood of operational risk occurring.
  • Addressing any areas of concern in conjunction with line management and/or the appropriate department.
  • Adhering to the Group’s agreed processes / procedures – achieving a satisfactory Audit report.
2. Maintains HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators
  • Checking and approving transactions relating to trade settlements within the authorized limits granted to the role
  • Clear understanding and ability to guide various risk and regulatory guidelines like (FATCA / Dodd Frank / Volker / AIFMD / UCITS / DPA)
3. The need to implement the Group Compliance Policy, as applicable to the role.

4. Impact on the Business
Individual AVPs are responsible for managing operational risk, including its identification, assessment, mitigation and controls, loss identification and reporting in accordance with the Operational Risk Management Framework"
All Securities Staffs are required:-
  • To maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators
  • To implement the Group Compliance Policy as applicable to your role in conjunction with the relevant Compliance Department. The term ‘compliance’ embraces all relevant laws, rules and codes with which the business has to comply within India and in relation to the countries migrating work to the assigned GSC. To act as assessing manager for regulated roles as appropriate.
  • To continually re-assess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures, management restructures, and the impact of new technology in conjunction with the donor Group companies.
5. Customer Service & Problem Resolution
  • Perform tours and professional presentations to visiting external clients
  • Set an example in ‘Leading to be Customer driven’ by implementing effective customer feedback mechanisms and monitoring ‘Service Quality’ of the section to ensure high Customer Service Standards.
  • • Drive rigorous and customer centric Quality Campaigns and initiatives to increase Quality awareness in the team.
  • Recognise, reward and set high internal service excellence benchmarks to ensure customer satisfaction.
  • Problem situations are proactively identified and resolved to give maximum customer satisfaction and escalated where necessary. Appropriate measures are taken to improve quality and prevent recurrence.
  • Establish and maintain effective relationship with clients, business areas and identify areas of service improvements.
  • Have clear understanding and update regularly on various market changes, infrastructural updates.
  • Understand local and international completion/benchmark.
6. Leadership and Teamwork
  • Effectively drive and manage change to achieve business goals (e.g. process improvements/changes in procedures)
  • Plan and promote Career Progression to meet Business requirements and Staff expectations.
  • Lead by example through service excellence and driving quality initiatives for improved Customer Satisfaction.
  • Drive staff development through soft skill training, personal development plans and performance management reviews. Reward and recognise service excellence and keep high staff morale through ‘Celebrating Success’.
  • Strike balance among task, team and individual to inspire and influence staff to bring out their best.
  • Motivate and develop team members to meet business objectives - advice and guidance is given in a constructive manner and supported by appropriate evidence.
  • Ensure Managers Operations are briefed and made aware of individual/department performance achievements/ targets in a timely manner.
  • Develop staff to achieve business objectives and achieve individual potential, sharing knowledge and experience and providing assistance on referred issues.
  • Create an environment where skills and knowledge is openly shared to achieve department and business goals.
  • Ensure performance management scheme is implemented in line with procedures across sections consistently
7. Operations
  • To act as back-up for VP Operations.
  • Review Contingency requirements on a periodic basis and invoke relevant business recovery measures as necessary. Carry out effective Operational Risk Assessment by monitoring and implementing risk mitigating plans.
  • Plan for effective cross training taking into account the Global Contingency requirements, Staff Banding progression and Operational requirements and striking a balance among them.
  • Ensure ‘Knowledge retention’ in the section by reinforcing concepts through continuous staff training. (To address the effects of attrition)
  • To smooth the impact of erratic workflows through effective capacity planning, leave management and process prioritisation.
  • To have a tight control on Operational losses, potential frauds through strong internal audit and staff feedback mechanisms.
  • Work is organised and processed/completed within agreed timescales. Ongoing monitoring and review of workflow and priorities are in accordance with procedures.
  • Process productivity and quality targets are set, monitored and achieved to ensure optimum resource utilisation and achievement of business objectives and customer SLA’s.
  • Procedural changes/new initiatives are reviewed, fully communicated to and implemented by the teams under control.
  • Effective communication with peers in terms of best practice sharing to ensure that optimum use of resource is made across the sections and that a robust cross training plan is in place to multi skill operation teams.
  • Ensure adherence to process cut off for all limit approval requests as appropriate.

8. Settlement and Administration Process improvements
  • Processes are regularly reviewed to identify improvements that will enhance operational and financial effectiveness.
  • Re-engineer processes with the aim of streamlining operations and increase efficiencies
  • Minimise manual processing
  • Increase use of automation
9. Audit and control
  • Compliance with procedures and diary watch across the section
10. Management information
  • MI and other business data requirements are completed accurately and supporting statistics/reports/returns are presented to business/management within agreed timescales
  • Management of Risk (GHR / FIM requirements)
  • To abide by the Group Compliance Policy by containing compliance risk in conjunction with the relevant Compliance
  • Department. The term compliance embraces all relevant laws, rules and codes with which the business has to apply.
  • To continually re-assess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures, management restructures, and the impact of new technology in conjunction with the donor Group companies.
  • Observation of Internal Controls (GHR / FIM requirements)
  • To maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators
Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)
  • Deal with the specific requirements for the various markets assigned and to look into effective ways to standardize certain practices across markets.
  • Keep abreast with the latest development in the rules and regulations by the regulators of the various markets and to identify the implications involved to the current corporate action processes.
  • Deal with internal and external attrition and their operational affects.
  • Drive customer centric Quality initiatives.
  • Effectively mitigate identified Operational Risks.
  • Comply with Group’s statutory audit standards
  • Deal with business that may significantly exceed forecasted figures by liaising with the respective business areas. Ensure quality and productivity standards are maintained while coping with staff turnover and inexperienced staff. Review and produce MI in a specified format, which is easily understood by business units, while giving them an idea of FTE benefit for migrating. Lead and motivate staff with widely differing aspirations working in productivity- based environment with critical deadlines

Role Context

This role operates in time critical environment and is required to be involved in approvals of trade settlements activities, which includes (but not limited to) :
  • Checking and approving trade settlements and Foreign Exchange transactions which falls under the approval authority of this role (please refer to the approval matrix for defined limits)
  • Approves cash account and securities account opening/closure/maintenance (applicable for non-trade profiles)
  • The jobholder works within the regulated environment and must comply with all the Group’s approved policies and procedures. The jobholder is expected to display initiative and exercise considerable judgment at all times to ensure that opportunities for improvements and recommendations for business and operational performance changes are identified/evaluated/explored in order to achieve higher efficiency and productivity (operational and financial objectives) on a continual basis.
  • The jobholder is expected to protect the Group’s assets & liabilities by close monitoring of operations to ensure resources applied are in line with approved policies, procedures and relevant guidelines. To establish check points to scrutinize exceptions and prevent potentially fraudulent situations.
  • Improve productivity and profitability by making effective use of available resources and to ensure the agreed service standards are met. Contribute to the development of subordinates by providing regular coaching and counseling and monitoring the staff competency/multi-skilling.
  • Securities services demands the delivery of a highly professional Customer focused service with a continuous drive for improvement in terms of both service and cost effectiveness.
  • The challenge of the business is to work under different parameters including multiple time zones, weekend/flexi-shift, different systems, practices and processes and a uniqueness of work culture/environment inherited from the migrating countries. The nature of the settlement services provided and the extent of the delivery of the services are such that processing delays or errors will almost inevitably result in serious losses to the Group or poor customer service. The maintenance of a high level of internal control is essential to minimize these risks and maximize process security.


Qualifications

What you'll need to succeed in the role:

Education / Relevant Experience / Other Qualifications (e.g. Knowledge, Skills, Professional Qualifications required)

Knowledge
  • A post-graduate diploma or degree in any discipline ((preferably in Accounting, Finance and Banking). Higher qualification not a bar provided aspirations commensurate with the position
  • CISI certification or equivalent would be an added advantage.
Experience
  • At least 7 years experience of the Securities Industry, with 5 of those at a management/supervisory level, focusing on back-office and middle-office support.
  • Wide experience in Global Securities Settlements and Back-Office Operations, and in particular in one of the following areas; custody and clearing, broking, settlements, cash management, funding and FX transactions, asset management and fund services,
  • Clear appreciation of customer service and operational risks.
  • Proven experience in management position with exposure to appraisals, counselling, team building and staff development.
  • HSBC Securities experience would be beneficial especially with exposure to the worldwide aspect of the business
Skills
  • Strong leadership skills evidenced by achievement of objectives together with a track record of development of individuals with strong organisation and planning skills along with the ability to handle capacity and MI reporting
  • Ability to build and maintain relations with business units and continuously give feedback by stringent follow up on service level agreements
  • Initiate cost control measures by achieving resource efficiency and managing overheads
  • Evidence of process management skills with an ability to initiate process improvements
  • Evidence of very good prioritizing, planning and organizing skills.
  • Ability to effectively communicate and implement group policies and procedures
  • Ability to comprehend and minimize operational risks including wide understanding of audit controls and compliance requirements.
  • Ability to manage and develop a team staff across a diverse range of processes within an operational environment.
  • Ability to maintain control, direction and motivation of staff in an ever-changing environment.
  • Proven experience in change and problem-solving management.
  • Evidence of good analytical, statistical and data mining skills to study trends and make projections. Production management skills and ability to initiate process improvements and recognize areas for development
  • Ability to plan & organise effectively as well as adopt a flexible approach to change.
  • Will need to possess good multi-tasking skills and be flexible, as operations will cover multiple teams and time zones



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.”
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.

***Issued By HSBC Electronic Data Processing (Philippines) Inc. ***



Want To Apply?
  • All applicants must have successfully completed their probation period 
  • All applicants must have met the Behaviour Gateway in the last performance appraisal
  • All applicants should have served at least 18 months in their current functional role and department company
  • All applicants should inform their respective line manager of their application 
  • Application form should be submitted via CareerLink along with the current CV 
  • All the completed applications should be submitted via CareerLink by 11:59 PM on the closing date 
  • Have not been previously declined for the same post within the last 3 months on the date of submission of their application 
  • Have not been on ANY form of Corrective Action within the last 6 months from the date of application 

Declaring incorrect information in your application (e.g. incorrect performance and behaviour rating; and corrective action status) is considered a SERIOUS OFFENSE based on the HDPP Employee Handbook:

A. Very Serious Offense

"Sec 1. Any acts of dishonesty, which may provide reasonable grounds for the company to lose trust and confidence to the employee, which includes but not limited to the following:
c) Giving false testimony or falsifying any document, records or information or presenting such falsified document, records or information in any study, research inquiry; padding and deliberate overcharging of expenses; tampering with time records; requesting or allowing any individual to log in/out and actually logging in/out any individual.”

Recruiter name
Ched Mulit
Recruiter email
mercedita.x.mulit@hsbc.com.ph
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