HSBC Group

Why join us?

Asset Servicing and Tax Services covers all Mandatory and Voluntary Corporate Action processing for Equity and Fixed Income products, inclusive of Claims and Tax processing for multiple balance sheets across multiple business location.

The Opportunity:

Reporting to the Vice President of Asset Servicing and Tax Services, the role holder will provide leadership and operations management expertise to the Asset Services operations (specifically to Voluntary Corporate Action process) for Global Market Operations across multiple balance sheets adhering to all policies, risk and controls, regulatory and compliance requirements in Kuala Lumpur and drive the Strategic Projects and efficiency initiatives for Asset Services. He / She will also be required to manage senior level escalation & communication with stakeholders and clients, inclusive of people management as appropriate and actively contribute to the Asset Services harmonization’s initiative for Market Security Services Kuala Lumpur.

Customers / Stakeholders:

• HSBC offices globally.
• Various Custodians and Agents Globally.
• Internal customers within the various locations in London, Hong Kong and Paris.
• Support multiple business lines including.
• Equity - Proprietary trading, Prime Finance including cash equity, stock lending and SWAPs, Delta 1 and Credit Flow Desks.
• FI - Proprietary trading, Structured Equity Derivatives, Credit and Fixed Income including equity linked bonds, Fixed Income bonds, stock lending, Bonds and Repo’s.
• External clients include broker/dealers, institutional and Prime broker.
• Equity Finance Desk.
• Other Equities businesses.
• Product Control.
• Other Areas of Securities Operations.
• Global Service Centers.

Leadership & Teamwork:

• Lead and manage a team of approx. <10 Full Time Equivalent in Market Security Services Kuala Lumpur focused on Asset Services Voluntary for Global Market Operations.
• Work closely and collaboratively with business partner’s other departments including Asset Services, Business Risk and Control Management & Product to provide solutions to clients. Actively collaborate with other Asset Services teams to create a standardized process within Market Security Services.
• Identify, implement and drive process reengineering and change initiatives to improve efficiency, reduce operational risks and reduce errors.
• Cultivate a client focus culture, grow productive teams and build leadership within the teams.
• Implement projects assigned by Senior Management from time to time.
• Ensure that the most appropriate organizational structures, systems, work flows, procedures and controls are utilized in support of the department activities.
• Contribute to the implementation of market driven changes as necessary to realize efficiency and cost benefits, reduce risk and to reflect product development.
• Review and improve the operational processes in partnership with the Change team in order to produce maximum process efficiencies.
• Ensure staff are adequately trained to support all of the departments activities within area of responsibility.
• Develop relationships with colleagues across Global Banking & Market business areas to ensure the department’s business and system solutions are supported and implemented in accordance with given timelines.
• Ensure that Global Market Operations develops and consistently maintains a premier quality reputation, internally and externally, the departments services.
• Contribute/propose amendments to the business model, as appropriate, to meet changing market and business circumstances.
• Apply in-depth knowledge of the securities market and associated market infrastructure.

Operational Effectiveness & Control:

• To ensure control measures/checkpoints are established to scrutinize exceptions/errors to prevent any operational losses and reviews on these measures are constantly performed.  Procedural changes/new initiatives are reviewed, fully communicated to and implemented.
• To ensure strong internal audit and staff feedback mechanisms are in place to prevent potential frauds/losses.
• 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).
• Ongoing monitoring and review of workflow and priorities are in accordance with procedures.
• Procedural changes/new initiatives are reviewed, agreed with the business area, fully communicated to staff and implemented.
• 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.
• To support Business Continuity Plan (BCP) by implementing the changes and adhering the BCP Group guidelines as well as Global Market Operations BCP guidelines.

Major Challenges:

• Deal with the specific requirements for the various markets assigned and to look into effective ways to standardize certain practices across the markets serviced.
• 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.
• Drive customer centric Quality initiatives.
• Effectively mitigate identified Operational Risks.
• Comply with Group’s Statutory Audit standards.
• Build customer confidence through shared contingency and business recovery measures.

Management of Risk:

• The candidate will be expected to be a strong communicator - need to liaise with both internal and external clients and escalate issues where required.
• 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.

Observation of Internal Controls:

• 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.
• Financial Control Authority and Prudential Regulation Authority rules will need to be adhered to.

What you will need to succeed in the role:

Qualifications:

• University degree level and equivalent practical experience / maturity.

Professional Skills & Experience:

• At least 3-5 years’ experience in a management position – related.
• Extensive experience in Global Market Operations, majorly in Asset Services Fixed Voluntary Processing.
• Knowledge of RIMS/ASPA/GPS/GMG/SYN system will be an advantage.
• Strong understanding of risk and risk management in corporate action.
• Excellent knowledge of different corporate event types and knowledge of UK and HK regulations.

Personal Skills & Qualities:

• Strong leadership skills evidenced by achievement of objectives together with a track record of development of individuals with strong organization 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.
• Evidence of strong analytical, statistical and data mining skills to study trends, make projections and to interpret numeric information.
• Evidence of strong operational decision making and be able to provide analytical support to the teams.
• Experience of successfully managing and developing a team in a previous role.
• Evidence of process management skills with an ability to initiate process improvements.
• Initiate cost control measures by achieving resource efficiency and managing overheads.  
• Dedicated approach to teamwork and ability to contribute to team effort.
• Ability to speak and understand English fluently. Strong communicator, both verbally and in writing.
• Attention to detail and accuracy.
• Customer focused and committed to providing a high quality service.
• Able to work in pressurized environment and manage priorities effectively.
• Effective leadership with requisite interpersonal skills necessary to direct and motivate a large team to achieve results.
• Strong collaborative management skills with the various stakeholders.
• Problem solving skills and ability to drive process improvements.
• High integrity and professionalism.