HSBC Group

Business: Trade Data Quality – Trade and Transaction Reporting 
Open positions: 1
Role Title:  Assistant Vice President MIFID Reg Reporting
Global Career Band: 5
Location: Bangalore
Recruiter Name: Hariharasudhan G
Why join us?

The T&TR is a risk and control function within the CIB – Markets and Securities Services Operations and are primarily responsible for ensuring HSBC’s OTC Derivative Trade Reporting to Global Regulators is complete, accurate and timely in all cases.  It is a Global, cross-asset-class function that works closely with front-to-back stakeholders to ensure key controls are in place and adequate in mitigating or identifying regulatory issues/breaches, to reduce HSBC’s overall regulatory risk.  The team are considered the ‘Control Owners’ for OTCD Trade Reporting, and are responsible for evaluating daily reporting submissions, monitoring trade reporting exceptions and reconciliations, managing Linking and Matching activities, performing manual uploads to the Trade Repositories (where needed), identifying trade reporting defects, implementing mitigating / identification controls (where possible), ensuring timely escalation of all identified issues and reinforcing a culture of regulatory awareness across front-to-back functions in line with the Global Regulatory Control Framework.  Through chairing comprehensive Governance, the team are also responsible for ensuring appropriate communication to, and accountability / ownership from various functions in the management and resolution of identified reporting issues.

The Opportunity:

The role will have responsibility for:

• Working with the Markets and Securities Services Operations function globally to identify, escalate and potentially remediate issues and reporting defects

• Assist in the generation of periodic and ad-hoc Regulatory Reporting management information metrics

• Delivering Global Control Framework activities for HSBC’s Global OTCD Trade Reporting Obligations

• Interacting with Offshore / Onshore colleagues as part of daily controls

• Producing regional Trade Reporting Governance packs for presentation to front-to-back stakeholders

• Understand HSBC’s Global Regulatory Obligations, System Infrastructure & Reporting Mechanisms as well as OTC Derivative Products and the OTCD Market, and utilise this knowledge to identify reporting or operational inefficiencies and drive improvement

• Maintain comprehensive tracking of open reporting issues and defects

• Participate in Working Groups and Project meetings to drive for resolution of key issues

• Use acquired knowledge to identify and mitigate new reporting issues

• Process all stakeholder (internal and external) requests/queries in timely and accurate manner

• Team management activities with regards to task allocation, performance reviews and team administration
  What you’ll do: 

Impact on the Business

Objectives

• Help create & maintain a strong control environment where regulatory issues are identified, escalated & remediated in a timely manner

• Provide advice and guidance to direct reports/junior team members on all issues

• Provide oversight and monitoring of complete, accurate and timely reporting

• Ensure timely and proper remediation of exceptions raised by Trade Repositories

• Directly manage the trade reporting processes relating to changes in new and existing reporting requirements -covering HKMA, CFTC, EMIR, MAS, and ASIC

• Devise and drive control change initiatives, advising potential impact on reporting flows

• Assist in building out robust controls in line with the GM Control Framework both regionally & globally

• Support the MO Quality Assurance model by way of validation and logic enrichment

• Ensure promotion of the Reg MO function with stakeholders

• Attendance in Trade Reporting specific forums and working Groups as necessary

Typical KPIs and Targets

• Monitor daily regulatory controls/booking reports, escalate issues, take remedial action (where appropriate) and record metrics

• Check Trade Repository reports, escalate issues, take remedial action (where appropriate) and record metrics

• Manage open issues to resolution (where possible) taking a risk-based approach

• Provide support to the daily reconciliations between the trading systems and the Trade Repository

• Manage initiatives in response to regulatory and internal small changes

• Manage queries from internal / external stakeholders

• Work with technology teams to help determine root cause of issues

• Be able to understand and explain the technical infrastructure that supports regulatory reporting and suggest improvements

• Provide training and maintain a log for new joiners and new processes

• Provide oversight and support for junior team members

• Maintain oversight of all direct reports’ output, and provide guidance and advice when needed

• Drive regular discussion with Global Leads to ensure Global models / initiatives are followed where appropriate

• Management activities including regular feedback sessions and performance reviews

• Regular communication and interaction with the global team

Customers / Stakeholders

• Trading and Sales

• Business Management

• GM Management Office

• Regional COOs

• Compliance

• Operations

• Production Support

Leadership & Teamwork

• Ability to clearly articulate issues and requirements with trading and sales staff and other support functions.

• Significant interaction with a range of service providing teams and other stakeholders

• Sharing regulatory reporting expertise and applying suitable controls will be a core function of the role

• Ability to lead a small team and handle team administration and management activities

• Operational Effectiveness & Control

• A strong focus on minimising Operational Risk is vital

• People Management experience 

Major Challenges 

• 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 BA skills and a solid, logical and structured approach to projects/workload prioritisation. The ability to “make things happen” and drive change is vital.

• The implementation of controls within the wider GM control framework and ensure that the controls remain usable and relevant

• Highly professional and articulate with good RM & stakeholder engagement skills - with the ability to work with people of all levels

• A strong understanding of process flows, front to back trade life cycle and product knowledge

• 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

• Ability to instil strong Operational Risk awareness in direct reports and junior member in the wider team

• Demonstrate an ability to impart regulatory, product and/or business knowledge to junior staff in the team

• Demonstrate enthusiasm, drive and commitment

Role Context 

• The role requires significant confidence gained from strong experience in order to operate in a fast changing environment, where there are a large number of systems and regulatory challenges.

• The role requires someone who has a detailed understanding of how an Investment Bank works in terms of roles and responsibilities of each function, and trade lifecycle.  Knowledge of how the different departments are engaged in the trade reporting end to end processes is also desirable.

• The role requires experience in people management and team administration activities.

• OTC Derivative Product knowledge is essential.

Management of Risk 

• Is aware of Operational Risk scenarios associated with the role, and acts in a manner that takes account of operational risk considerations and manages/escalates them accordingly

• Observation of Internal Controls 

• Maintains HSBC internal control standards, including timely implementation of internal and external 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 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

What you will need to succeed in the role:

• A degree in banking / finance / risk management / business

• Comprehensive knowledge of the main aspects of HKMA, CFTC, MAS, ASIC and EMIR trade reporting

• Good understanding of end-to-end trade lifecycle of typical OTC Derivative products

• At least 7+ years previous experience in a risk / control environment (or similar) within an Investment Bank/Financial Institution

• Rigorous approach to controls and the minimization of operational risk

• Strong analytical skills are essential

• Aptitude for continuous improvements and operational effectiveness with ability to identify issues / inefficiencies and realise solutions

• Technical understanding of how systems deliver regulatory reports, and Trade Repository limitations and behaviours

• Excellent written and verbal communication skills

• Experienced in working with virtual / global teams and functional management

• Ability to challenge and question in a constructive manner with strong analytical & investigative skills

• Strong inter-personal skills; the ability to handle conflict and manage expectations

• Self-motivated with proven ability to prioritise tasks, set targets, and meet deadlines with an organised and structured approach

• Strong leadership skills with ability to oversee and support direct reports with daily activities, identifying development opportunities

• Advanced skills in MS Excel (Macro / Pivot) Access, and SharePoint would be beneficial

• Understanding of key aspects related to creation of meaningful MI dashboard and ability to present the same 
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  You’ll achieve more at HSBC 
  HSBC is an equal opportunity employer 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. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”

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