HSBC Group

Business: A&V & Reporting - SSv Traditional 
Open positions:1
Role Title: Vice President Operations
Global Career Band: 4
Location (Country / City ): India/Bangalore
Recruiter Name : Tanvi Mathur

The Opportunity:

To lead and manage Traditional Fund Accounting Process in Bangalore
Promote relentless focus on service quality across Traditional Fund Accounting Operational disciplines. 
Management of operational processes to meet or exceed service level requirements.
Accountable for continuous process improvement of existing processes and migration of new functions from the Country office.  
Drive key employee initiatives to promote and position MSS as the employer of choice.
Assist his / her Director in financial planning to achieve cost targets set for the team.  

What you’ll do:

Impact on the Business/ Function

• Typically managing 40-60 FTEs 
• Supporting Traditional clients and Product / sub products at a regional level as follows:
• Single Product : Fund Services 
• Multiple Sub Products: Pricing, Reconciliations, GAV/NAV, Statutory Reporting, Performance Reporting and/or Life Fund accounting.
• Improve operational efficiency on year to year basis to minimize overall cost and marginal cost of new business
• Ensure service delivery quality and timeliness meet/exceed agreed threshold.
  Support Global Operating Model/Workflow/ Platform Change initiatives

Customers / Stakeholders

• Supporting single product and multiple sub product, multiple region, multiple jurisdiction as follows:
• Multiple Region: (Europe / APAC)
  Multiple Jurisdictions : (Ireland/Edinburg /Middle East/Hong Kong / Singapore )

• Engage with the end client/stakeholders to ensure team is aware of the changing expectations and challenges
  Ensure understanding of the various requirement for various jurisdictions and thereby end client
  Ensure regular business calls are held and actionable are completed within timelines

   

Leadership & Teamwork 

• Typically managing 40-60 FTE, dependent on current BAU footprint and projected growth 

• Typically managing from 4 - 6 directs, dependent on current BAU footprint and projected growth 

   

• Will be responsible for leading the team in Bangalore for or GAV/NAV and or Statutory Reporting and or Life Fund Accounting and or
• Performance Reporting for various jurisdictions
• Attrition rate maintained within annual performance target
• Recruitment/training of teams managed
• Develop a culture of meritocracy, high performance standards and high achievement 
• Manage Succession planning

Operational Effectiveness & Control 

• Multiple Product / Sub Product.  Multiple Region / Multiple Jurisdiction - Significant complexity/risk and engagement with business partners and external market / client/Auditors. New funds are being on-boarded directly in the City office with expectation of BAU delivery from day 1.
• Migration of more complex activities from multiple jurisdictions to City office.
• Large variation and the manual nature of processes required by Product / System / Country / Client
• Service Delivery quality/timeliness is within/exceeding agreed limits and regularly reported to stakeholders
• Ensure effective production management capacity is in place for the process.
• Work towards minimizing business variance across jurisdictions/regions through standardization No Repeat high risk finding in Internal audit
• Manage migrations within project agreed timelines and risk parameters
• Reduce Operational Losses on year-on-year basis and contain within agreed risk limits.
• Establish effective BCP for the processes.

Major Challenge

• High and increasing various regulations that are being implemented in the Financial Services Industry
  (FATCA / Dodd Frank / Volker / AIFMD / UCITS / DPA) 
• Multiple Accounting practices and treatments followed for different jurisdictions
• Increasing complexity. Turnover 20%, 3month lead time to achieve threshold competency for new hires.  
• Manage annual transformation – Support re-balancing complexity, volume and criticality across City offices to align to the MSS Location Strategy and Connectivity between City office and Jurisdictions. 20-25 FTE impact. 
• MSS Operation (within Service Centers) is viewed as high growth and strategically important to achieve MSS strategic operating plan. 
  Manage and Lead teams, and ensure standardization of activities and service delivery between various jurisdiction centric teams.
• Supporting multiple products and regions that have differing market behaviors but business is focusing on strategic FIG relationships
• Multiple Accounting  practices based on locations 
• Increasing complexity. Turnover 20%, 3-5 month lead time to achieve threshold competency for new hires 
• Manage annual transformation – Support re-balancing complexity, volume and criticality across City offices to align
  to the MSS Location Strategy and Connectivity between City office and Jurisdictions 20-25 FTE.
• MSS Operation (within Service Centers) is viewed as high growth and strategically important to achieve MSS strategic operating plan. 
• Supporting multiple sub products and regions that have differing market behaviors but business is focusing on strategic FIG relationships

Management of Risk & Internal controls (Operational Risk / FIM requirements)

• 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.
• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global
• Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. 
• This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

What you will need to succeed in the role:

• Commerce Graduate is essential
• Higher qualifications in Commerce, Accounting, Financial Management is desirable
• Candidate will have extensive working experience in the securities industry, to include:
• Knowledge of clients and products across range of securities services
• Management position with exposure to business partners across multiple geographical locations
• Management position with exposure to remuneration, performance management, team building and staff development. 
• Fund Administration, with experience in Pricing and GAV/NAV and Financial Reporting preferred
• Strong presentation skills, ability to communicate clearly, concisely and effectively in English, both oral and written 
• Multi-cultural background or experience, ability to work across broad range of cultures in support of HSBC Group values and objectives
• Strong analytical skills, high attention to detail 
• Strong planning and organizational skills, with a proven ability to prioritize competing demands and communicate this effectively 
• Proven ability to execute and deliver change, within an operational context
• Effective leadership with requisite interpersonal skills necessary to direct and motivate a large team to achieve results
  Solution orientated, high energy characteristics necessary to support MSS business
• Excellent interpersonal skills with the ability to build and maintain global and regional relationships at all business levels 
• Strong collaborative management skills with the various stakeholders
• Detailed knowledge of global market infrastructure.
• Expert level knowledge on Pricing of various instrument, Reconciliation, NAV, Various Indices, Funds’ Performance Attribution, Financial Statements etc.

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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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