Job description
Operations Settlements Manager (UAE National) - 0000L7RH
Some careers have more impact than others.
If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be. Whether you want a career that could take you to the top, or simply take you in an exciting new direction,
We’re building the world’s most powerful corporate and institutional bank – one that sets the standard for international commerce and institutional partnership. Our strength lies not just in our scale, but in our people, the unmatched power and depth of our international network, our distinctive global client franchise and the quality of our services. These are the cornerstones of our leadership in payments, trade, FX and corporate financing, and underpin our commitment to meet today’s demands and shape the financial system of tomorrow.
The Markets & Securities Services (MSS) division in CIB plays a critical role in facilitating access to financial markets and managing associated risks
We are currently seeking an ambitious UAE National to join our Markets Securities Services team, working together with colleagues to define, manage and achieve divisional business targets.
Role Purpose:
The role entails to provide efficient trade validation, settlement of transactions, post settlement queries & related services in Market Operations for Dubai & Regional sites across all asset classes, i.e. Derivatives, Fixed Income & Shariah trades.
To ensure Operational risk is reduced through streamlined processes and provide efficient service without any operational losses in the region. Active Management of Settlement processes across all asset classes for MENA. Timely and efficient escalation of issues though best practice channels. Active partnership with global, regional and local peers to share initiatives and people planning to create scale and best practice. Contributing to and leading people agenda deliveries across the broader Ops teams and sites as required. To ensure Group standards (F.I.M.) are adhered to at all times and best practice guidelines are followed wherever possible to ensure Global Market Operations Regulatory targets.
In this role, you will:
• To ensure all trade validations and settlements are processed prior to the respective settlement dates across all asset classes.
• To provide high quality support services to Global Markets - UAE and regional sites - as well as external customers.
• To validate and settle transactions for Derivative, Fixed Income and Shariah products for UAE and the Regional sites.
• Adherence to DIM, FIM, DFA regulations
• To ensure Zero PLA breaches & Ops loss
• To regularly review procedures and controls for existing products to ensure group standards are maintained and continuous process improvement are carried out.
• To ensure all transactions are settled prior to designate currency cut off and in accordance with the Payment Transparency guidelines (PT).
• Ensure effective coordination between the onshore and offshore teams (GSCKL, and GSCM) and active supervisory oversight is maintained at all times
• To ensure accurate and timely validation and processing of all transactions across all asset classes for UAE and the regional sites.
• Ensure high quality support services to Global Markets (FO) by ensuring error free and timely validation and settlements. They should promptly notified & immediate action should be taken to avoid payment mismatches / penalty charges.
• Ensure effective communication between UAE, regional sites and Front Office and enhance service levels across business lines by addressing the issues raised by the Front office and Regions without delay
• To ensure compliance with all current audit recommendations and GM FIM requirements by carrying out periodic operational reviews and ensuring that no lapses have occurred.
• Handling multiple tasks and prioritizing appropriately to minimize risk of any losses from operational errors / inefficiencies / deficiencies.
• Keeping abreast of new products (Shariah, Derivatives) and developments in existing products as they are documentation intensive, and it is critical that the jobholder reviews the terms & conditions carefully to ensure that the products are appropriately captured and processed correctly.
• To ensure accurate and timely validation & processing of all transactions across all asset classes, i.e. Derivatives, Fixed Income & Shariah originating from UAE and the regional sites by laying down clear desk instructions and as per TOM.
• Ensure all trades are validated and settled with the Regions/Customer within the currency cut off time and value date.
Requirements
To be successful in the role, you should meet the following requirements:
• Knowledge of Derivatives, Fixed Income, Shariah products and their lifecycle and an understanding of Global Markets Operations.
• System knowledge of MS office, Treats, Summit, Murex, DTP, GC, GMG, Euroclear.
• Good knowledge of Treasury systems and the HSBC Banking system and the workflow in-built within the systems.
• Experience in Managing Settlements for products across all asset classes for Market Operations, MENA.
• Ability to manage multiple tasks in a challenging environment.
• Good problem solving and communication skills.
• Practical experience of 5 years in Global Markets operations.
• Excellent Inter-personal, leadership, management and group skills.
• Ability to maintain focus while working with voluminous data & Ability to multitask
• Good Communication, planning and organizing skills.
• Good initiation of improvements. Open to Change.
• Ability to build rapport with and relate to and effectively develop a wide range of people
• Graduation degree is REQUIRED– to secure a UAE Visa and Work Permit
For further details and application information please visit our careers site, searching under reference number 0000L7RH.
You’ll achieve more at HSBC.
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.
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Issued by The Hong Kong and Shanghai Banking Corporation Limited.