Job description
Some careers open more doors than others.
If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
GCOO Operations is a leader in the development of services and processes that are designed around the customer and enable the firm to demonstrate to regulators that its processes and ways of working will deliver consistently high standards of compliance. Every day, customers all over the world are paying bills, buying homes and setting up companies and every day, Global Operations teams are making sure all this happens smoothly
Role Purpose
· Manage and control daily operations and administration of the payment operations (which includes FCY/LCY processing, regulatory filings, RBI liaison, Investigations etc.) in order to achieve a high level of efficiency and customer service, which would help attain strategic and operating objectives of the Bank.
- Monitor performance of external vendors and operating staff in the unit
- Ensure standardization of processes. Process notes to be updated on a regular basis.
- Regulatory reporting activities as per RBI and other regulators requirements.
- Ensure an effective Business Continuity plan is in place for the unit and completion of BC exercise in timely manner.
- Ensure day to day processes are run as per defined procedure notes and policies.
· Contribute in all performance parameters which include cost management, key process performance indicators (TAT, accuracy etc.), customer satisfaction levels etc.
· Maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
Implement the group compliance policy as applicable to his role. Should be 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.
Principal Accountabilities: Key activities and decision making areas
Impact on the Business
Ensure that there is improvement in productivity for transaction processing and service delivery.
Cost Management
Typical Targets and Measures
By constantly reviewing processes and systems including controls without hampering business flexibility. Also by acquiring thorough knowledge on FEMA, FEDAI, SWIFT and other regulatory guidelines to guide the team in processing the transactions.
Monitor costs on an ongoing basis and strive to reduce and optimize operations resources. Implement lean methodologies to continuously reduce ‘waste’ and identify areas of revenue leakage.
Principal Accountabilities: Key activities and decision making areas
Customers / Stakeholders
Contributes to building good customer relations and maintaining a high level of customer service
Understand and implement customer requirements. Ensure highest level of engagement with business groups & GLCM team.
Typical Targets and Measures
By ensuring that the transactions are processed as per laid down guidelines within the agreed Service Levels with the various businesses. Monitoring the customer complaints and relating them to the processes where applicable to bring about improvements.
Prompt communication to all stake holders about any process change
Liaise with internal customers (business groups & GLCM team) to understand delivery requirements with regards to the remittances products. Support significant customization within the product limitations and provide regular feedback to
Principal Accountabilities: Key activities and decision making areas
Leadership & Teamwork
Monitoring staff performance and creating culture of learning and growth in the unit. Identify training needs and ensure training requirements are met.
Ensures the smooth, systematic and efficient functioning of the department. Ensure backups are created within the unit.
Typical Targets and Measures
Monitor performance of the staff and create a culture of learning and growth in the unit. Identify training needs for staff and ensure that minimum training days requirements is met.
By ensuring all staff is conversant with the procedure laid down in BIM, DIMs, FIMs & relevant regulations. Backups to be created for every type of activity in the unit. Also preparing a backup for self in the unit.
Principal Accountabilities: Key activities and decision making areas
Operational Effectiveness & Control
Manage the operational risk associated with the role and safeguard the interest of the bank
Ensures audit recommendations / Compliance issues
Reporting / Preparation of returns
Business Continuity Plan (BCP)
Typical Targets and Measures
By complying with internal and external guidelines whilst processing the transactions and other guidelines provided by compliance. By monitoring the operational loss event occurrence and impact and take corrective action to minimise the occurrence and impacts.
Ensure timely implementation of audit points (both internal and external) in the unit.
By ensuring that all the returns due, from the department are prepared accurately and within the stipulated time limits
Develop & review Business Continuity Plan (BCP) for remittances products. Ensuring that entire team is well aware of the BCP plans.
Major Challenges:
The major challenge of the job holder is to ensure that strategic objectives of becoming one of the best foreign cash management banks in India and business targets are met in a highly competitive market where margins are falling substantially on a year to year basis. The trend is expected to continue through the strategic plan period. The jobholder is expected to proactively take steps to ensure that productivity is kept high, costs are kept low and customers are satisfied with the DBS and product offering. In order to maintain an edge over competition, staff needs to constantly review products / services, delivery mechanism and systems to ensure that the same exceed market / customer requirements.
Major challenges will be
· Managing within the regulatory framework to avoid any reputational impact on the Bank is a major challenge. In light of the complicated FEMA guidelines and customer transactions, this is a major challenge.
· To develop a service delivery model for such regulatory processes which from time to time are passed on from RBI to Authorised Dealers
· Balance the customer's requirement and expectation with RBI's delivery model.
· Liaise and interact with all Customer Groups. An increasing business focus on remittances from LOBs requires the job holder to manage business expectations and at the same time identify the risk and remedial action to eliminate the risk, keep the productivity high.
· Understanding of the FEMA framework & compliance / Group guidelines and its interpretation. The job holder is expected to communicate effectively with all stakeholders to ensure that customer's expectation is met and at the same time no compromise is made to the Bank's position
- The growing workload needs to be handled with utmost efficiency / accuracy and the staff are motivated to project a good image of the department, bank and group as a whole.
Analytical thinking is necessary for constant improvement of processes by identifying areas of weakness from the information and feedback received from processing and client servicing.
Role Context:
The principal regulations governing the jobholder are RBI guidelines, Compliance guidelines and the group’s internal policies. He/she needs to Manage within the regulatory framework to avoid any reputational impact on the Bank. The incumbent needs to possess good analytical skills & understanding of FEMA guidelines & its interpretation to handle complicated client transactions. The job holder is expected to communicate effectively with all stakeholders to ensure that customer's expectation is met and at the same time no compromise is made to the Bank's position.
The jobholder is expected to exercise broad discretion in carrying out his / her regular duties and is required to make reference to his / her superior with regards to decisions beyond his / her discretion. Also policy matters need to be referred to the AVP, VP- REMS Operations, Head – Payment Services and / or GLCM product team as appropriate.
Management of Risk
The job holder has to ensure that all internal (FIM/BIM, Internal Compliance and Audit) and external (RBI regulations) guidelines are followed.
A key risk aspect where the job holder is expected to provide leadership is Fraud risk.
Identify risk mitigants & steps to ensure NIL OPR’s. Ensure risk ids in Gordon are reviewed periodically.
Maintain awareness of operational risk and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting in accordance with section 4 of the Group Operations FIM.
Observation of Internal Controls
Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators. Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, and optimising relations with regulators
Role Dimensions
As delegated from time to time
Requirements
This role requires 1-3 years of overall Banking exposure with 1 year of specialized experience in
managing Remittances Operations. Skills required for success are:
· Fema knowledge
· People and Stakeholders Management
· Strong Communication and decision making ability
· Thinking and Problem solving skills
Customer centric approach to support business growth
HSBC is 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.
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 The Hongkong and Shanghai Banking Corporation Limited, India
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