HSBC Group

Business: Regulatory Reporting and Trade Conduct Control:    Markets Middle Office 
Open positions: 1
Role Title: SME GMMO RVQ and R
Global Career Band: 6
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

• Use acquired knowledge to identify and mitigate new reporting issues

• Process all stakeholder (internal and external) requests/queries in timely and accurate manner
  What you’ll do: 

Impact on the Business

Objectives

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

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

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

• Assist in build out and execution of robust controls in line with the GM Control Framework

• Support the MO Quality Assurance model by way of execution or validation

Typical KPIs and Targets

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

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

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

• 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

• Regular communication and interactions 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

Operational Effectiveness & Control

• A strong focus on minimising the Operational Risk is vital

Major Challenges 

• Constant drive to develop as well as improve existing controls in order to promote a strong governance model

• 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

• An 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

• Demonstrate enthusiasm, drive and commitment

Role Context 

• The role requires adaptability in order to operate in a fast changing environment, where there are a large number of systems and regulatory challenges.

• The role requires an individual who has an understanding of how an Investment Bank works (i.e. roles and responsibilities of each function) and at least a base-level understanding of OTC Derivative products

Management of Risk 

• Is aware of the Operational Risk scenarios associated with the role and acts in a manner that takes account of operational risk considerations

Observation of Internal Controls 

• Understands, follows and demonstrates compliance with all relevant internal and external rules, control standards, 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 preferred

• Understanding the global regulatory landscape is essential, this including Knowledge of the main aspects of HKMA, CFTC, CSA, MAS, ASIC and EMIR trade reporting is beneficial

• 3-5 years’ previous experience in a control environment (or similar) within an Investment Bank/Financial Institution is desirable

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

• Strong decision making, analytical and investigative skills are essential

•  Advanced skills in MS Excel (Macro / Pivot) and SharePoint beneficial

• Rigorous approach to controls and the minimization of operational risk

• Ability to prioritise tasks and meet targets is necessary

• Strong written and verbal communication skills

• Flexible to working in shifts (ASP/ US/ EU)
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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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