HSBC Group

Why join us?

If you’re looking for further opportunities to develop your career, take the next step in fulfilling your potential right here at HSBC. Global Debt Markets Derivatives Trade Processing Management is integral to HSBC’s purpose and strategy, playing a valued role in Rates & Credit Derivatives trading life cycle management. Our global team of Middle Office professionals partner with the business to provide the day to day operational trade support and control of the Fixed Income Derivatives within Global Market Operations, provide Regional APAC (Asia Pacific) dedicated support to the trading desks actively across a variety of Fixed Income products including Rates, Credit, Bonds, Futures and Repo, ensuring the risk is properly captured in our internal systems efficiently, timely and controlled trade validation, ensuring seamless downstream processing while acting as the primary contacts to internal and external clients on delivering quality service, independent control, operational risk safety and cost efficiency. These also include facilitation of global change management agenda and process streamlining. The role further review both internal and external system reconciliation break investigation, reviewing trade documentation and settlement discrepancies queries from our back office. We are currently seeking a high caliber professional to join our team as Assistant Vice President – Trade and Position Management Specialist (Individual Contributor). This is an Individual Contributor role with no immediate reporting lines.

The Opportunity:

What you’ll do:

• Provide high quality Trade Validation, Trade Control and Trade Reconciliation Investigation service for Interest Rates & Credit Derivatives trades (Vanilla & Structured) to the Middle Office Desk Support, Front Office business and onshore Operations across London and other hubs (Hong Kong, Paris, New York) as per existing service agreements. 
• Investigate / validate trades on email blotters / recaps, consents, batch populations from core systems i.e. Global Calypso, Summit, XFOS/Murex, ICELINK, Treats and DTP.
• Reconcile Total Return Swap population and updated as real-time communication with the drafting team to ensure T-Plus-Zero (T+0) dispatch paper confirmations.
• Ability to resolve issues under tight deadlines as this is a constant changing environment.
• Provide dedicated support to the trading desks actively across a variety of Fixed Income Derivatives Products, ensuring the risk is properly captured in our internal systems, acting as the primary contacts to internal and external clients on delivering quality service, independent control, operational risk safety and cost efficiency.
• Provide appropriate input in all change initiatives, advising potential impact on the current processes, drives change management in coordination with I.T to increase automation and controls.
• Assist in building out a global and robust set of controls in line with the Control Framework to ensure the overall success of Middle Office TOM design and implementation.
• Understanding risks associated with the trade flow, ensuring appropriate controls are implemented, highlighting areas for process improvement and making the necessary suggestions to get these controls in place. 
• Become the regional SME for new system and process specifications. 
• Act as a point of escalation for all Front Office queries where required. 
• Extensive interaction with trading, sales, business management, legal, credit, as well as Operations and I.T. teams to resolve issues.
• Ability to clearly articulate issues and requirements with trading and sales staff and other support functions.
• There will be no direct line reports but significant interaction with a range of service providing teams and other stakeholders.
• Partnership skills are essential as there will be working with other members of the team.
• A strong focus on minimizing the Operational Risk is vital.
• Controls (both process and project) are key to meeting respective targets. Equally critical to understand BAU processes to ensure control framework is suitably positioned to meet regulatory or industry requirements.
• Promptly raise control and process issues with line management, attend weekly controls meetings and provide MI (Management Information) to highlight volumes and outstanding.
• Working closely alongside Technology and Operations to ensure successful delivery, communicating effectively with the business via weekly governance meetings.
• Ensuring adherence to FIM (Functional Instructional Manuals) / Controls.
• Constant drive to develop as well as improve existing controls in order to promote a strong governance model.
• The successful candidate must be able to demonstrate good communication skills and a solid, logical and structured approach to projects. The ability to “make things happen” and drive change is vital.
• The implementation of controls within the wider control framework and ensure that the controls remain usable and relevant.
• Highly professional and articulate with good stakeholder engagement skills - with the ability to work with people of all levels both inside and outside of the Fixed Income asset class.
• A strong understanding of process flows, front to back trade life cycle and product knowledge.
• Is aware of the Operational Risk scenarios associated with the role and acts in a manner that takes account of operational risk considerations.
• Improve efficiency through regular review of existing processes and refine amendments were appropriate.
• Strong understanding of key products, the operational processes and client service focus. Products/asset classes covered are Rates, Credit, Futures and Repo. 
• A close working relationship with MI and Reporting.
• A close working relationship with Sales and Trading in supporting any new products or businesses.
• Excellent communication, negotiation and time management skills are required for this role.
• Ability to problem solve, clearly articulate requirements, implement and drive change along with the ability to remain organized, multitask effectively and efficiently.
• Constant review of Desk Instruction to ensure complete and accurate recording of process procedure.
• Escalation of all exceptions and KRI (Key Risk Indicators) reaks. Work towards improving process KRIs, KPIs (Key Performance Indicators) and bright lines through the efficient use of strategic solutions.
• Ensure all audit issues are being addressed and solutions provided.
• Act as a point of escalation for operational issues within the team and be able to communicate, address, and resolve issues with the relevant areas in a timely manner.
• Ensure the escalation of all problems/risk issues within their area to the respective stakeholders and the appropriate levels of management as per escalation matrix, in a timely manner.
• Raise trade discrepancies to front office and ensure outstanding queries are chased and timely closed.
• Liaise with front office, sales and operations to resolve trade discrepancies.
• Lead innovation and change within the team. Create a positive environment where team members feel encouraged to contribute and drive improvements within the process.
• Build robust succession planning and ensure the absence of key person dependencies. Ensuring expertise and competencies are developed within the team that their objectives set by the organization are met and adhered to.
• Ensure effective management of risk and controls in line with the Risk Management Control Framework.
• Promote and display risk culture in terms of behavior, ownership, leadership and awareness plus cultivate a supportive environment towards achieving risk objectives.
• Observe all reporting requirements applicable to their role are completed timely and to a high standard.
• Identifying control gaps and implementing additional steps to mitigate risk in an environment of capacity constraints.
• Continually challenge procedures, checklists and performance measures to ensure our delivery to clients are optimized.
• Ensure high quality service to the business areas by minimizing risk through effective management of cost and resources. Deliver on committed savings annually.
• Understands, follows and demonstrates 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, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.
• Maintains HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
• Ensure adherence to the Group Privacy, Control and Compliance Policies, applicable to their role.
• Adhere to the group requirement that each employee is aware of the Operational Risk scenarios associated with their role and to ensure that all actions during their employment with HSBC take account of the likelihood of operational risk occurring.

What you will need to succeed in the role:

• A minimum of a bachelor degree.
• A minimum of 5 years working experience in an Investment Banking or Wholesale Banking environment with exposure in any areas within the Derivatives trade life cycle/front to back process with a minimum of 2 years’ experience in a Derivatives Trade Control role.
• Working knowledge in Rates or Credit Derivative product is preferred. Knowledge in Structured Derivatives such as TRS, Options and Inflation Swaps will be an added advantage
• Trade validation experience is a pre-requisite with a strong track record for ‘attention to detail’.
• The role is critical to the business and is a significant control in highlighting trade errors immediately after trade execution. It requires someone with an exceptional attention to detail, highly energetic, excellent communication skills and who has the ability to prioritize and think creatively to resolve issues quickly for the business.
• The role requires someone who has a detailed understanding of how an Investment Bank works (i.e. roles and responsibilities of each function) and how the different departments are engaged in the trade life cycle and the end to end processes.
• Strong knowledge in trade level reconciliation and investigation are preferred.
• Strong resilience and aptitude in managing Front Office personnel, stakeholders and counterparts across KL, London, America, France, Hong Kong and APAC countries are preferred.
• Technical understanding of how trading systems operate is a pre-requisite i.e. MarkitWire, TradeWeb, Bloomberg TOM (Target Operating Model) Summit, Global Calypso, XFOS/Murex, MarkitWire, TradeServ, TREATS & other PTS (Primary Trading System) and PTA systems experience is a pre-requisite
• Evidence of Thought Leadership within an operational supervisory environment for global market with the ability to apply critical thinking in working group, in crisis situation and in day-to-day problem solving is a necessity.
• Assertive with strong influencing skills to be able to work with the industry, global Operations, IT, Trading and Sales effectively.
• Strong understanding of operational risk, procedures and controls as well as of front to back trade lifecycle.
• Able to perform well in a fast pace and high pressure environment against tight timelines.
• Excellent planning, time management and organizational skills.
• Knowledge of MS Office coupled with good numerical and analytical skills – be able to understand, analyze, and communicate data in a concise, logical and visually stimulating form. 
• Strong culture of ethics and integrity.
• Ability to learn quickly and transfer knowledge effectively and accurately.
• Ability to speak and understand English fluently with exceptional business communication skills.
• Ability to work in European time zone and to work on Malaysian public holiday. 

What additional skills will be good to have?

• Demonstrate an ability to work on their own and without supervision, able to take the initiative and take responsibility but also show a good understanding of team work.
• Demonstrate enthusiasm, drive and commitment.
• People and talent management.
• Ability to independently initiate process improvements and encourage the same in others.