HSBC Group

Business: MSS Investment Operations

Open positions: Multiple

Role Title: Vice President - Operations GSC’s

Global Career Band: 4

Location (Country / City ): Bangalore

Recruiter Name : Tanvi Mathur

The Opportunity:

Role Purpose

• This team lead role is responsible for dealing with all escalated client inquiries, serving as SME lead to the MSS Middle Office client and ensuring all Middle Office/operational functions and deliverables to the client are met with a high standard by internal teams within agreed upon SLAs. Operational functions include, but are not limited to the following:
• To process trade matching and settlement services in respect of Investment Operations activities by ensuring all securities trades are matched to broker’s trade confirmations and instructed to client’s custodians for settlement within strict deadlines (Securities Processing)
• To process trade matching and margin management for Middle Office clients (ETD Margin Management)
• To process trade confirmation, lifecycle event management of OTC transactions
• Provide client services to Middle Office clients to ensure all enquires are resolved on a timely basis
• Facilitate transformation projects and assist project management from time to time

What you’ll do:

Principal Accountabilities: Key activities and decision-making areas

Impact on the Business

• Process transactions and produce deliverables that ensure the realisation of pre-determined delivery timeline:
• Run the Investment Operations activities effectively and efficiently with support provided to all MSS offices
• Ensure operational readiness and manage the full business process development lifecycle from initiation through to testing and rollout
• Manage and control the resource allocation to maximise synergy and maintain budgeting of the department
• Maximise system usage, and when gaps are identified, drive procedural and system changes
• Exercise a high degree of liaison with IT department and manage business expectations and negotiate compromise, raising system enhancements where applicable to prevent error recurrence, and to automate or improve internal process
• Able to work under pressure and within set time frames
• Develop and maintain a professional, high quality team, with a proper focus on culture and ethical standards
• Provide support in developing, planning and implementation of operations and change management programmes
• Define key metrics to measure project progress
• Anticipate industry changes impacting the processing and introduce appropriate process changes
• Ensure a smooth business transition within Investment Ops during contingency by effectively manage the Business Recovery Plan 

Typical KPIs and Targets

• Perform securities processing functions accurately within agreed timescales & in accordance with procedures & controls
• Make decisions and resolve queries in an accurate and timely manner
• Prioritise competing demands & deadlines effectively making full use of all available resources
• Ensure seamless new clients take on
• Ensure all securities settlement instructions are matched by the custodian with the broker; facilitate cancellations and rebooking trades
• Ensure the team’s adherence to compliance standards and Group Policies/Procedures and application of Anti-Money laundering and KYC criteria to work processes
• Ensure prompt resolution of all reconciliation items, providing clear, concise & relevant documentation to support outstanding items.
• Ensure prompt investigation and resolution of unmatched trades and pending mismatches
• Escalation of disputes in line with client SLA
• Ensure successful delivery of Transformation projects
• Provide and deliver timely and accurate MI reporting
• Scope a balanced scorecard for the team reflecting MO and FS priorities
• Monitor and track progress of locally implemented initiatives stated in AOP plans and strategic plans
• Establish in place a Business Recovery Plan and participate in testing/drilling emergency procedures

Customers / Stakeholders

• Provide expert advice, guidance, query handling to meet client needs and expectations
• Maintain effective inter-departmental and external communication
• Maintain on-going good working relationship with clients, prime brokers and clearing brokers
• Communicate actions to the relevant parties (e.g. Client Dealer Support, Vendors, Brokers and Custodians etc.)
• Communicate with City Site management and staff

Typical KPIs and Targets

• Ensure the realization of client service agreement
• Maintain zero rate of complaint and error
• Appropriate use of communication channels and oral & written communication is clear, concise & relevant
• Make good judgement calls on the appropriateness of action to resolve servicing problems & complaints
• Consolidate feedback on broker and custodian performance
• Advise all stakeholders and strategic partners on the migration updates and implementation progress

Leadership & Teamwork

• Establish good internal working relationship and identify individual training needs
• Take ownership of tasks/issues and ensure these are all followed through to completion.
• Provide cover for other team members in their absence, be available as first level of escalation and support for queries from internal departments and external contacts
• Create a motivated, high performing team with appropriate staff development and appraisal/review processes

Typical KPIs and Targets

• Prioritize and set own work deadlines and provide achievable whilst challenging targets for direct reports (if any)
• Coach and mentor new joiners to perform job functions effectively and assess the team’s/individual’s training priorities
• Co-operate to deliver an effective and efficient task allocation within the team
• Escalate any issues to management
• Effective performance of own team, reviewed twice p.a. and efficient task allocation in the team

Operational Effectiveness & Control

• Run the operation in adherence to HSBC’s internal procedures, key controls and risk prevention measures
• Ensure that the current procedures and checklists comply with the requirements of Audit, FIM, external regulators and Operations Risk and Control.
• Adhere to predefined procedures and compliance requirements in daily operation
• Re-assess continually 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 restructures and the impact of new technology

Typical KPIs and Targets

• Avoid business risks arising from errors/omissions when placing trades
• Timely reporting/escalation of risks/issues/MSII to relevant parties with appropriate remedial action
• Report outstanding audit points, open Operational Risk action plans and GEM items and ensure future avoidance preventative measures are in place and tested.
• No dispensations of FIM/compliance requirements
• Proper sign off to all procedures & communicate procedural changes to relevant parties

Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)

• The job holder is responsible for managing the investment operation team and business projects to ensure effective and efficient delivery of Middle Office solutions.  The role is required to make or escalate business decisions based on established processes and procedures.
• The jobholder is responsible for ensuring all Securities Trades for a specific geographical area are confirmed within FX deadlines, sent to clients’ custodians within deadlines and pre matched by the client’s custodian and the broker.  These tasks are performed in accordance with defined procedures to a level of competence, which does not require direct supervision.
• Discrepancy queries must be dealt with promptly and followed through to a satisfactory conclusion, to avoid the risk of overdraft claims.  Failure to issue accurate instructions within settlement deadlines and to adhere rigidly to the job controls could result in significant financial loss to the company.  The ability to cope with varying workloads dependant on trading peaks is essential.
• The job holder contributes to the success of the regional strategies in the delivery of effective and timely dissemination of knowledge and relevant information relating to all initiatives and projects leading to the continuous success in business migration, identify challenges that impedes migration success and offer relevant solution to expedite the process while sustaining the momentum in the smooth implementation of the Centres of Excellence  in Asia Pacific as world class operational and service centers.

Role Context (The environment and operating conditions of the role including the extent of guidance and authority)

• The jobholder is required to work with high accuracy and timeliness in meeting the market deadlines and client’s service level agreement and to assist with reviewing the work outputs.  Where a risk event or an operational issue is found, timely reporting/escalation of issues is required to the immediate reporting line.
• The nature of the role requires a close working contact with Cash Management / Settlement / Pricing team and with external parties like clearing brokers and custodians. 

Management of Risk (Operational Risk / FIM requirements)

• Is aware of operational/business risks arising from errors/omissions when running the investment operation
• Responsible for delivering the Middle Office service and observing the service level agreements
• Strictly follow the FIM requirements in the conduct of operation

Observation of Internal Controls (Compliance Policy / FIM requirements)

• Apply applicable HSBC internal procedures, key controls & risk prevention measures relating to Investment Operations activities
• Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, especially the Investment Operations function.

What you will need to succeed in the role:

Knowledge & Experience / Qualifications

• Intermediate experience working within an Investment Management, Brokerage and /or Custody environment is essential to perform this role, with specific knowledge and experience of the following:
• Proven knowledge of Derivative Management gained within the Investment Bank/ Fund Services Industry, specifically exposure to OTC Derivative products.
• A working knowledge of Securities Trading confirmation and settlement procedures and market practice, including the use of Electronic Trade Confirmations and SWIFT settlement message types.
• Good knowledge of Middle Office operation preferably with a hands-on knowledge to operate Calypso, HSBCNet, Multifonds, Markit EDM, TradeFlow, Aladdin
• Proven in depth knowledge of CSA agreements and associated ISDA agreements
• Knowledge of OTC Derivative products
• Good understanding of Fund Service model and the role of the Middle Office in it's business context
• Good understanding of relevant anti-money laundering legislation and how it impacts the Fund Service model
• A high level of client servicing & interpersonal skills
• Good communicator, both verbally and in writing
• Self motivated with excellent planning, analytical and organizing skills
• Ability to prioritize workloads and work quickly & accurately with good attention to details
• A good team player with good adaptability and a flexible attitude.
• Able to work in a diverse environment with good interpersonal and negotiation skills
• Strong business sense with good analytical and project management skills
• Creative thinker and change agent
• Able to demonstrate an attention to details
• Proven ability to manage the MO team and delegate authority
• Traveling is necessary as and when required

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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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