HSBC Group

Business: Wholesale

Open positions:1

Role Title:  Junior Associate, WPM Middle Office GSC’s

Global Career Band: 6

Location (Country / City ): India/Bangalore

Recruiter Name : Hariharasudhan G

The Opportunity:

• Middle Office Servicing tasks for Wholesale Portfolio Management for Securitisation and Risk Transfer products

What you’ll do:

• Wholesale Portfolio Management (WPM) is a first-line of defence function with the mandate to pro-actively manage the credit risk and concentration risk of HSBC’s wholesale lending portfolio. Through various activities, WPM helps the lending business to operate and grow prudently and profitably. WPM manages balance sheet utilisation and concentration risk by utilising securitisations, non-payment insurance, credit default swaps and loan sales to optimise capital and ensure capital preservation.
• The WPM Middle Office is operationally responsible for transaction management and in life servicing of the Wholesale Credit and Lending Significant Risk Transfer and hedging instruments. A global team who manage balance sheets across multiple HSBC entities.

Additional Tasks for job holder

• CLOs
• Monitor, investigate and remediate static data changes in the Reference Portfolio
• Monitor, investigate and remediate missing data in the Reference Portfolio
• Propose replenishment reference portfolio
• Booking/flagging of securitised facilities / NPI / portfolio NPI to the extent this work has not been automated
• Modelling and substantiation / reconciliation of Reimbursement Right Asset and Compensation receivable
• ESMA reporting
• Investor reporting
• Internal reporting
• Coordination of Legal Due Diligence
• Manage Agreed Upon Procedures with Accountant (e.g. KPMG who independently verifies the data used for securitisation with source data from HSBC system output or facility agreements
• Calculate quarterly investor guarantee fees, including collateral interest and operational expenses, in line with contractual obligations.
• Managing claim process for defaults in the reference portfolio of securitisation transactions
• Handle and respond to investor inquiries on all aspects of the CLO structure and performance.

Non-payment Insurance

• Documentation review ahead of policy signing
• Responsible of the NPI lifecycle management (transaction monitoring and insurance Premium settlements, reconciliations & controls)
• Monitor facility-level information from facility agent and maintain data room with insurance broker
• Modelling and substantiation / reconciliation of Reimbursement Right Asset and Compensation receivable
• Managing claim process for defaults in loans secured by NPI

Funded and Unfunded sub-participations

• Documentation review ahead of participation agreement signing
• Responsible of the sub-participation lifecycle management (transaction monitoring, reconciliations & controls)
• Managing claim process for defaulted in loans secured by sub-participation agreement

Secondary Loan sales

• Set up and maintain data rooms
• Agree NDAs
• Review loan transfer and confidentiality restrictions
• Assist with closing and settlement tasks

What you will need to succeed in the role:

• A solid understanding of banking regulations, especially around capital treatments and securitisation regulations
• Knowledge around credit risk mitigation techniques (securitisations, credit insurance, credit derivatives) and loan products
• Banking/Structured Finance, Markets background or Credit Portfolio Management experience
• Excellent problem solving, organisational and analytical skills
• Strong quantitative skills, ability to work on complex excel files and build financial models
• Knowledge of any programming language is desirable (e.g. Python, SQL or Power Apps)
• Outstanding written / verbal communication and presentation skills
• Strong organisational and time management skills
• Strong interpersonal skills and able to build and maintain global relationships
• Delivery-focused with ability to pay attention to detail and ensure tasks are completed on time and to the required levels of quality
• Ability to construct clear and considered arguments
• Proven ability to prioritise competing demands
• Risk, Controls, Conduct
• 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 or escalation of issues that arise
• This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators
• The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the 'Three Lines of Defence'. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required
• The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures
• The jobholder will implement the Group compliance policy by adhering to all relevant processes/procedures. The term 'compliance' embraces all relevant financial services laws, rules and codes with which the business has to comply
• 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. Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite
• In executing these responsibilities, the job holder will be leading by example and embed a culture that demonstrates conduct values and behaviours in their day to day activities
• The jobholder will be able to demonstrate the certifications and qualifications required to exercise the job mandate has been obtained

Link to Candidate User Guide:

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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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