Job Description

Job description

Business: Collateral Services
Open positions: 1
Role Title: Assistant Vice President
Global Career Band: 5
Location (Country / City ): Kuala Lumpur, Malaysia
Recruiter Name : Nana Nasruddin

Why join us?
The global HSBC Collateral Management team is responsible for the margining and associated management of collateral assets for all HSBC Group OTC derivative, FX, commodity, and repo activity. The group is tasked with minimizing HSBC\xe2\x80\x99s counterparty credit exposure via the use of collateralization, acting on margin terms which are dictated in the various margin agreements, while providing superior client service to our counterparts.
Operating on a global platform comprised of internally developed components which work in conjunction with the Algo Collateral margin system, the US Collateral Management & Valuations group is comprised of teams dedicated to Client Facing functions, Data Quality and Control. Members of HSBC\xe2\x80\x99s Collateral Management & Valuations team are actively engaged in industry initiatives such as the ISDA Collateral Committee, the London Collateral Framework Working Group and the Reconciliation Steering Committee organized by industry leaders.

HSBC has significantly expanded our breadth of services to include an enhanced and consolidated Global Valuations Service, which provides regular cross-product valuations statements via the HSBC Group internet site, HSBCnet, as well as other methods of statement delivery. The Team is in place to address questions and issues related to values on OTC derivative, Repo agreements and structured transactions. Additionally, the team closely monitors changes in the industry in order to deliver regular enhancements as we look to continually upgrade our service to better suit the needs of our clients.
The Client Facing team is responsible for direct interaction with clients in regard to the issuance, receipt and settlement of all margin related activity for OTC derivatives and Repo. The Candidate will work within the client facing team to facilitate these activities while also providing a high level of client service. As a senior team member the candidate will act in a team lead capacity ensuring the continuous reviews of processes and controls, a first point of contact for team and internal queries and assist with the BAU planning for the team. The candidate will also work closely with change teams and other business partners such as Front Office, Funding, Technology, Finance and Legal on new business and regulatory initiatives, process improvement and controls.
The candidate will be expected to provide guidance, instruction and direction to other members of the team while providing support to the manager to achieve the team goals

The Opportunity and What you\xe2\x80\x99ll do:

Primary Responsibilities/Essential Functions:
Perform various functions within the collateral management operations team, including:

• Issuance and response of margin calls as defined in the relevant business documentation,
• Input and approval of collateral movements into HSBC\xe2\x80\x99s collateral system (Algo) and follow through on the settlement of the collateral.
• Interaction with clients and ensuring that Collateral Services adheres to the Client Service Best Practice Framework.
• Working closely with multiple settlement areas to follow up on any failed items.
• Interaction with various internal stakeholders such as Credit, Legal, Documentation, Product Control, and the Front Office to ensure timely resolution of any margin call disputes and queries.
• Work closely with team and department manager to ensure all daily processes are completed on timely basis.
• Support the Company\xe2\x80\x99s Diversity programs.
• Work with business partners to review all new business initiatives as it relates to collateral management.
• Perform other job-related duties as assigned.
• Manage counterparty risk exposure of HSBC and provide valuation support to Clients on a daily basis.
• Expedite resolution of all disputes with counterparts, investigating MTM differences in an efficient manner.
• Key contact and escalation person within the collateral team for HSBC\xe2\x80\x99s priority clients, focusing to ensure top clients receive high quality service.
• Manage the training and onboarding of new staff.
• Primary face-off to onshore operations and business stakeholder.

Decision-Making Responsibilities:

• Continually review and challenge the current processes for potential improvements and identify control gaps.
• Reengineer to improve and address control issues.
• Identify and highlight disputed margin calls; escalate as necessary.
• Perform according to prescribed procedures.
• Manage team workload and distribute client accordingly.
• Escalate default situations through the appropriate reporting lines.
• Understand & demonstrate compliance with all relevant internal and external rules & regulations which apply to the team.
• Ensure appropriate controls are followed to eliminate operational and counterparty credit risk, and procedures are continually reviewed and maintained

Impact on the Business/Function

• Provide management oversight of Collateral management functions. Ensure meeting PLA agreed with business partners.
• Drive business initiatives including systems implementation to completion.
• Work closely with London, Hong Kong, Paris and New York business partners to implement the global strategic model. This involves building relationships between onshore and offshore teams to increase efficiencies and to create best practice.
• To work closely with Onshore business partners ensuring a high standard of communication maintained between teams.
• Develop potential staff and manage poor performer.
• Ensure processes complies with FIM.
• Ensure effective escalation procedures in place.
• Continuous review and improvement of processes to enhance controls and create efficiencies in service delivery.
• Strong focus on waste reduction.
• Create an environment of minimal bureaucracy

Customers / Stakeholders

• Problem situations are proactively identified, resolved and escalated to give maximum customer satisfaction. Appropriate measures are taken to improve quality and prevent recurrence.
• Customer issues are handled sensitively and receive full consideration. Situations are resolved effectively retaining goodwill of customer.
• Customers are kept fully informed of progress.
• Periodical MI submitted accurately and in line with customer and business needs.
• Updates and procedural changes obtained and cascaded / recorded.
• Enhance systems and business knowledge relating to customers / processes and cascade to teams.

Leadership & Teamwork

• Monthly 1:1 to be completed regularly every month.
• Guide and provide feedback to staff on their development and ways of improvement that could enhance personal skills and knowledge to meet business objectives.
• Plan and discuss with staff on career development plan.
• Motivate and develop teams and subordinate to meet business objectives.
• Create robust team environment where skills and knowledge openly shared to achieve team and business goals.
• Development plan created and reviewed. Teams are regularly briefed and trained on any developments.
• Knowledge and experience are shared with teams, providing assistance on referred / technical issues.
• Advice and guidance is given in a constructive manner and positively.
• Be aware of issues within teams and resolve or escalate in appropriate and timely manner.
• Identify strength / weakness of teams in order to develop them.
• Share knowledge, best practice and experience with colleagues at all levels to ensure they achieve their goals and business objectives.

Operational Effectiveness & Control

• Effectively manage implementation of reporting tools and guidelines for all processes, identifying and escalating issues for resolution as appropriate.
• Create and design reporting templates and tools for Operations Team.
• Provide guidance and coaching to AMOs and MOs on utilization of the reporting tools and templates.
• Work is organized and completed within agreed timescales, in accordance with procedures.
• Work is distributed / duties allocated between individuals in accordance with their experience / ability.
• Productivity and quality of work are monitored and achieved.
• Issues / problems are fully analyzed and resolved or escalated. Appropriate action is taken to prevent recurrence.
• Procedural changes / new initiatives are fully communicated to and implemented.
• Encourage and monitor team member to consistently maintain a high level of customer service.
• Ensure effective workflow management in order to meet timelines and quality levels, checking and maintaining effective resource utilization at all times.
• Contribute to contingency planning for the teams / sections.
• Guiding new MO and AMO in setting up new templates and documentation for their new teams.
• Completion of Records and Management Information.
• Management information, other required data and communication are completed accurately and supporting statistics / reports / returns are presented within agreed timescales.

Management of Risk (Operational Risk / FIM requirements)

• Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.
• Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
• Each employee must promote an environment that supports diversity and reflects the HSBC brand.

Observation of Internal Controls (Compliance Policy / FIM requirements)

• Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year-end performance assessments.
• Each employee must understand, follow and demonstrate 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.

Requirements

What you will need to succeed in the role:

• Knowledge of OTC and/or Repo collateral management.
• Familiarity with OTC Derivative Products, Foreign Exchange, Precious Metals, Repo back and middle office functions.
• Understanding of ISDA CSA, MRA and other margin related documentation.
• In depth knowledge related to the valuation of OTC derivative products.
• Knowledge of cash and non-cash settlement processes.
• Proficient understanding of Margin Requirement for Un-cleared Derivatives (MRUD).
• A high level of customer service knowledge. The ability to communicate clearly and concisely with clients in this client facing role, but also very technical so client queries are met with professionalism.
• Excellent written and oral communication skills.
• The candidate must be able to work on their own initiative and be completely reliable.
• Ability to multi task and work under pressure.
• Minimum of 3-5 years of experience in Collateral Management, experience with Algo V5 Collateral Management system is a plus.
• Effective team player.
• Good Microsoft Office Skills with an emphasis on excel knowledge.
• College degree required.
• Series 99 is a plus

HSBC