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Securities Services provides robust and reliable solutions that enhance performance and mitigate risk, today and in the future. Working with institutional investors, banks, insurance companies, governments and multinational corporations, Securities Services offers 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 an Associate Director – Regional Commodities & RMB Operations, Asia Pacific.

Principal Responsibilities

Role Purpose

The role of Regional Commodities and RMB Operations will consist of three key remits:

Precious Metals and Commodities Operations:

• Overseeing the day-to-day operations support of the Physical Precious Metals (Gold and Silver) Business in Asia – HSBC Hong Kong is the leading institution in providing different avenues of financing of Gold and Silver to key counterparties in the onshore Mainland market and across the region
• Ensure transactions are consistently processed in accordance with the FIM, Global Standards and jurisdictional regulatory requirements
• A key component will involve logistic management across multiple parties on the delivery of the physical gold and silver to different jurisdictions via different carriers - effective management of external third-party service providers on the import/export documentations, storage and transportation of the physical precious metals
• Working with Procurements on the on-boarding of new third party service providers as designated by the Business – this involves various risk assessments of the outsourced services and data

Support on the Onshore RMB business thru the PBOC159 scheme:

• This is a global support for all HSBC affiliates offering clients across different regions and locations access of onshore RMB via the PBOC 159 scheme. HSBC is the leading global institution on the RMB offering. Overseeing the day-to-day operations support of the related local regulatory reporting and the designated regulatory monitoring to demonstrate both the Bank and our clients’ onshore RMB exposure purchased thru the different schemes such as CIBM Bond Connect and RQFII, are aligned to underlying assets
• Formalising the required escalations and management of exceptions from the regular quality assurance of the regulatory reporting and monitoring controls
• With the continuous expansion of the onshore RMB market as the PBOC progressively deregulate the Mainland China market, the role will have regular interactions with the Business, Compliance, Clients and PBOC/CFETS on subject matter expertise adapting to the changes on the booking model, regulatory reporting and monitoring requirements. It is expected the type of underlying assets requiring the RMB exposure hedging will also expand – the role will collaborate very closely with the Operations support of other asset class

New Business Support – Product Owner:

• Support on the launch of new market technologies and AI innovations e.g., recent retail launch of Tokenised Gold offering – the incumbent will assume the key Operations lead in Asia to oversee the target operating model of new market trends such as digital assets, CBDCs and DLT technologies such as Bitcoins. A key component is using technologies to maximise automated processes within the BAU support of the new offering

To be successful you will

• Proven people management skills and potential to lead and develop a team. The ability to work with senior management globally and act as a team player, and manage staff in different locations in the region
• Emphasis on strong competencies to manage external clients, including dealing with challenging and difficult client conversations. There will be exposures interacting with external parties and regulators
• This role touches two very specialised and niche domains – demonstrate the acumen to acquire relevant subject matter expertise on the logistic management of import/export metals and the RMB market and business quickly
• Knowledge and understanding of Global Markets products, operations and international/regional markets (exposure to regulators, exchanges, industry bodies) would be an advantage, whilst not a prerequisite
• Proven track record in leading and managing change, particularly given the organisation’s continually evolving nature – a strong technical background would be added advantage to apply the latest market technological innovations
• Understanding of a complex processing environment spanning across different products across derivatives and securities will be a plus to serve as a SPOC (Single Point of Contact) for our clients

Opening up a world of opportunity
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Issued by The Hongkong and Shanghai Banking Corporation Limited.