HSBC Group

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Business Description

Markets and Securities Services

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, government, and multinational corporations. Markets and Securities Services offers a range of fund administration, global custody, sub-custody and clearing services.

We are currently seeking an experienced professional to join and lead the Clearing & Settlement Desk within Markets and Securities Services team.

Principal Responsibilities:

• To manage the operations of the Custody and Clearing business in India and ensure that service levels match or exceed international standards

• To liaise with market participants – Exchanges / depositories / brokers / tax consultants and to develop a sound relationship

• To develop a thorough understanding of regulations affecting the FPI investments in India and ensure compliance from legal / regulatory fronts

• To manage operations efficiently and creating capacity in anticipation of increase in business on account of new customers and products

• Sustaining future performance, creating an environment of ongoing personal and team learning and development

• To make sure core business delivery without any client impact

• To manage risks through identification / prevention and ensuring that all processes are compliant with regulations.

• Ensure appropriate stratification/ ring-fencing of processes to cover for operational risk

• Maintain HSBC internal control standards, implement and observe Group Compliance Policy and maintain awareness of operational risk and minimize the likelihood of it occurring.

Qualifications/Requirements:

• Capital Market knowledge is preferred

• Strong understanding of the securities services industry

• Post Graduate Diploma / Degree and a depth of experience (approx. 10 years) in a relevant operations role, with a wide product knowledge across the capital markets industry

• Clear understanding of the traditional trade lifecycle and of the relevant risk control principles within this

• Experience of working in a similar organizational structure and managing teams

• Strong written and verbal communicator, used to interacting with colleagues and stakeholders at all levels including senior leadership teams

• Known for leading by example when challenging the status quo

Major Challenges:

• Managing services and identifying risk areas within the area of control to meet and beat customer expectations

• Ensure that the activities are done accurately and before the cut offs.

• Ensure Staff development and motivation.

• Anticipating future client requirements and developing the capabilities to meet the same

• To operate flexible systems

Role Context:

• The Indian capital market is complex and hence it is extremely challenging to continuously offer superior service and flawless execution to our customer base, which are very demanding large institutional clients.

• Additionally, the Custody business is extremely competitive where a single client win / loss can result in revenue worth millions of USD getting impacted. The size of transaction intensifies the operational risks and small error can lead to financial and reputation impact. The custodian, including the operations section, is expected to be a partner to the client through the close liaison with CSV.

• The onset of dematerialization and shrinking margins has converted custody into a volume game without compromising on the customization. Competition is fierce as a single client win can result in revenue in millions of USD. The size of transaction adds to the operational risks because a small error / miscommunication can have a significant impact in terms of financial and reputational risk.  

• Compliance and Risk Management is a vital component of the SSV business and has an increasingly important role to play in assessing and reviewing the various aspects of the business as well as promoting HSBC Group’s commitment to high standards of integrity, fair dealings and strict adherence to all regulations. The clearing member including the operations section is expected to be a partner to the client through the close liaison with MDV.

• SVP reports to Director in terms of guidance and authority and is guided by him/her in terms of strategic issues, compliance, etc. However, the jobholder should be able to independently interact with senior managers and market participants.

Minimum Graduation or as required for the role, whichever is higher

Additional Information

• Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.

   

•  In line with HSBC Values, it is our endeavour to harness and promote a culture of transparency and openness. Regarding this particular opportunity, a suitable candidate who can fit this role is available and the role is being advertised on the IJA to encourage fresh applications across the bank. All the applications received will be evaluated on merit before the final decision is taken

Eligibility Criteria

• India Bank / INM employees will be eligible to apply to this role after completion of 12 months in the current role/position at the time of application on level transfer and/or promotion.
• Entity Employees (not from India Bank) to be guided by their internal policy on tenure completion in current role at the time of application before applying and share line manager approval once shortlisted
• INM Employees in scope of WPB Career Progression Framework not eligible to apply to roles within the purview of the Framework.

Useful Link

Link to Careers Site: Click HERE 

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India