Job description
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HSBC Corporate and Institutional Banking (CIB) is a markets-led, financing-focused business that provides investment and financial solutions. Within CIB, Securities Services provides robust and reliable solutions that help clients mitigate risk and enahce their performance. Working with institutional investors, banks, insurance companies, governments, and multinational corporations, Securities this team a range of fund administration, global custody, sub-custody and clearing, and corporate trust and loan agency services.
We are currently seeking a high calibre professional to join our team as a Global Head of Funds Services - Asia - Hong Kong.
Role Purpose
The role is part of the Securities Services (SSV) Operations Leadership Team, reporting directly to the Global Head of Securities Services Operation and will have accountability to the Global Head of Securities Services Operations to provide the global oversight, leadership and direction of the Funds Services Operations. This includes direct accountability for the Fund Accounting, Fund Administration, Investment Operations/Middle Office, across regions globally. Role Holder will be required to work through the MSS Operations Utilities and Central Services teams to provide the Funds business with an efficient and optimised operational services.
The role includes supporting the strategic business front to back plan, growth of the business, the management of supply and demand to an affordable cost target and the implementation of the SSV Operations digital transformation programme (Rubix), including a revised location strategy and organisation design.
The Funds Operations Head will be the primary Operations contact point for the Funds business, and will need to build robust effective relationships with each stakeholder relevant in SSV Business and other support areas (e.g. Non Financial Risk and Finance).
The Global Head Funds Operations will work with the Funds Product / Client team to develop a forward looking function, deliver market leading client outcomes and an equally strong control environment. They will ensure that all risks are understood, monitored and reported to manage within appetite with clear and robust KPIs and KRIs in place
Principal Accountabilities:
Leadership & People Agenda
• Support the execution of the MSS Ops People agenda and communication of a powerful and compelling vision that inspires and engages people with the HSBC Values and goals as the basis of an inclusive, high performance, customer-centred culture
• Motivate your leadership team to attract, retain and develop the capability and talent to provide for succession and ensure delivery of business objectives regardless of location or culture and help identify and promote the best talent that we have.
• Set expectations, share best practice and manage, monitor, coach and develop leaders to ensure that they maximise their performance, meet the required standards, and continuously develop their capabilities and experience
• Drive and encourage constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and taking prompt action to address any activities and behaviours that are not consistent with HSBC's diversity policy and/or the best interests of the business
Stakeholder & Relationship Management
• Act as the primary Operations liaison with the Funds business LT.
• Works seamlessly and collaboratively representing Operations interests in each site country with senior members from businesses, functions and local country management.
• Ensures that the Ops teams in countries adhere, conform and deliver in meeting Group's strategic focus, implementing new initiatives and streamlining opportunities.
• Represents HSBC's view internally and externally on a regional basis with relevant stakeholders; including but not exclusively industry bodies and boards, client and vendor engagement
• Encourage and champion the importance of a positive HSBC customer experience, recognising the importance of Operations' contributing to the commercial and franchise opportunities.
• Actively leverage and challenge metrics available to ensure Operations challenges are understood, measured and tracked.
• Work front to back with the Funds Services business to focus on commercial viability of new business as well as the associated cost of new clients and products.
Workforce and Cost Management:
• Manage the Funds Operations cost base to meet or exceed financial targets whilst protecting franchise and enabling growth.
• Ensure the work force plan is in line with commitments and tie back to transformation projects.
• Delivery of agreed saves targets within Funds
• Review and approval for all hiring
• In conjunction with Operations Transformation, critically review business investment cases to ensure there is an appropriate ROI and that the ROI is realized in actuals.
• Work in partnership with stakeholders to define timely, relevant and cost-efficient end-to-end technology solutions required to meet the needs of Funds and increase automation/digitisation.
• Work in partnership with other functional and utility Heads in MSS Operations to manage the financial targets across MSS Operations as they relate to the SSV business.
Strategic Direction and Operating Model:
• Directly drive the continuing development, transformation and implementation of Funds Operations operating model to ensure the business operates increasingly effectively and efficiently and is able to deliver HSBC's strategic goals.
• Establish and maintain a robust and efficient control environment to ensure good operational, financial and project management and compliance with HSBC policy and procedures, together with early identification and effective resolution of issues that arise.
• A champion of continuous improvement, aiming to improve the client experience.
• Ongoing review and challenge of location strategy
• Apply external market knowledge, benchmarks and insights to identify opportunities to improve performance and practices.
• Identify and execute on opportunities to drive cost efficiency, resulting in sustainable saves and achievement of cost targets.
Role Context
• The individual will form part of the SSV Operations Leadership Team and act as a peer of the global product, function, central service and regional heads. They will provide effective collaboration with key stakeholders across the infrastructure teams and the business, to deliver a sustainable cost efficient and risk managed service for the Funds Services business in line with the group strategy.
• The role requires an ability to challenge individuals at all levels whilst striving for the highest quality business and bank wide outcomes
• The role is multi -faceted and often working to tight deadlines, overseeing the resolution of short notice and critical issues affecting operations and our customers. A high level of resilience is needed as complex tasks, hours worked and regular reprioritisation are part of daily activity.
Management of Risk
• Continuously reassessing Non-Financial Reporting risks (including Conduct) 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.
• Ensuring all actions take account of the likelihood of operational risk occurring, addressing areas of concern in conjunction with Risk and relevant line colleagues, and also by ensuring that actions resulting from points raised by internal or external audits, and external regulators, are resolved in a timely fashion.
Observation of Internal Controls
• Maintains HSBC internal control standards, including timely resolution of control issues and audit points together with any issues raised by external regulators.
• Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures
Role Dimensions
Direct management of a Funds Operations organization of c.1000 staff across multiple locations and related budget management
Requirements
Knowledge & Experience
Knowledge
• Clear track record of running large, global operational areas dealing in Funds services / Securities Operations core products across different regions and supporting a variety of clients [both internal and external].
• Financial acumen
• Broad knowledge of the external environment (regulatory, political, competitors etc.)
• How to use judgement and experience to determine how to handle complex requests and varying timescales; make judgements quickly and consistently.
Experience
• Senior experience of working with or within an Operations team, with direct experience of working within the fast paced Funds / Securities Services business.
• Proven track record of having delivered and/or reviewed complex, cross organisational/geographical business or technology change within Operations
• Experience in working in multi-national and multi-cultural financial institutions
Key Skills
• Ability to build strong relationships with other functions and business units and to interface with and influence senior leaders in the organisation.
• Strong leadership skills, particularly with regards to coaching and developing team members.
• Excellent presentation, communication and interpersonal skills.
• Positive ‘can do’ attitude, high level of motivation to meet aggressive deadlines and targets.
• Well developed planning, time management and resource management skills.
• Tenacious in approach with the ability to challenge the norm / present viable alternative approaches.
• High level of drive and motivation to ensure delivery of a broad range of outputs simultaneously.
• Interpersonal skills: proven ability to communicate effectively and confidently at all levels across the Group.
The chosen candidate for this role will be required to undergo enhanced vetting. Subject to local laws, this will require the individual to satisfactorily pass a series of additional checks as part of the recruitment process and on an ongoing basis, if appointed to the role. HSBC Group reserves its position with regards to any steps which it may take in relation to any material adverse findings which arise either when the checks are originally completed, and/or if relevant, on an ongoing basis.
Opening up a world of opportunity
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