Job Description

Job description

Why join us?

Some careers grow faster than others.

If you\xe2\x80\x99re looking for further opportunities to develop your career, take the next step in fulfilling your potential right here at HSBC. Global Finance is integral to HSBC\xe2\x80\x99s purpose and strategy, playing a valued role in managing costs and deploying capital in the most effective way. Our global team of finance professionals partner with the business to provide trusted insights and forward looking analysis; accuracy; efficiency and control to frame and influence business decisions. We are currently seeking a high calibre professional to join our team as a Manager \xe2\x80\x93 Collateral Management GSC.

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The Opportunity:

This role sits in the Collateral Management team within the Middle office function of HSBC Markets & Securities Services.

The Collateral Management team is responsible for credit risk mitigation through the collateralisation of OTC/Repo/FX products by performing full third-party collateral management activities on behalf of our institutional client base.

As a Manager within the team, the role-holder shall be expected to;

• Act as a key point of contact to both Clients and Internal / External stakeholders providing support with regard to the operations for Collateral Management.
• Ensure high quality service to the business ensuring that risks are minimized and profit is maximized through effective management of costs/resources.
• Be responsible for driving the Collateral Management Function, defining requirements for and the implementation of strategic and tactical projects, working closely with Business and Change functions teams across multiple jurisdictions.
• Be responsible for Collateral Management End to End function, and manage the execution of an appropriate Oversight and Governance framework.

What you\xe2\x80\x99ll do:

Responsibilities:

Function Management

• Manage the team\xe2\x80\x99s performance relating to Collateral Management as per agreed metrics on timeliness & quality.
• Set a high standard of continuous staff motivation and leadership to ensure a good work environment
• Lead engagement with IT departments / Systems service providers, ensuring issues raised appropriately, enhancements correctly proposed, and User Acceptance Testing appropriately carried out where applicable.
• Ensure that the Business Continuity plan is tested and learning points logged.
• Act as escalation point to ensure any issues are resolved in a timely manner

Reporting and Management Information

• Ensure accurate and relevant MI is produced and checked within the required timescales
• Ensure prompt resolution of all reconciliation items, providing clear, concise & relevant documentation to support outstanding items.

Change Management

• Play a leading role in developing process improvements and cost save initiatives for the team.
• Actively look to automate or improve internal processes, ensure Client Change requirements are implemented and integrated into the team operations appropriately.

Accountability

• Be available as key point of escalation and support for queries from internal departments and external contacts as required.
• Accountable for own day-to-day performance and meeting tight intra-day deadlines. Expected to make decisions, resolve queries & escalate where necessary in an accurate and timely manner.
• Ensure mailbox management is appropriate across the function, with clear ownership assigned and timely resolution of third party queries received.

Client / Customer Service

• Maintain good working relationship with Clients, Prime/Clearing Brokers and Market Counterparties.
• Provide expert advice and guidance to meet client needs and expectations
• Ensure appropriate controls are in place to effectively manage queries
• Ensure that any problem areas raised into the team are proactively identified and resolved.

Process Management

• Ensure the team undertake the timely & accurate processing of daily margin calls in line with agreed deadlines.
• Ensure the team undertake the timely and accurate Dispute Management function in line with agreed deadlines.
• Maintain knowledge of the team functions in order to be able to guide and support the team where necessary.
• Provide technical expertise to support colleagues where required.

Management of Risk: (Operational Risk / FIM requirements)

• Ensure that current procedures and checklists meet the requirements of Audit, FIM, external regulators and Operations Risk and Control.
• The job also entails engaging with internal audits, and where findings identified, measures should be undertaken to address, with regular reviews of any changes implemented in order to maintain quality and productivity at the optimum level
• Ensure daily complex exception reporting is completed within guidelines with any errors promptly rectified to maintain data integrity standards.
• Continually reassess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructures, and the impact of new technology.
• Changes within Risk Environment should be communicated and implemented effectively.
• Appropriate measures should be undertaken to prevent recurrence of known issues, ensuring root cause analysis has been effectively conducted.
• Analyse internal and external errors/customer complaints to observe trends and accordingly develop strategies that address root causes
• Lead the development, documentation and maintenance of procedures and controls to ensure ongoing compliance with industry and regulatory changes and requirements.
• Avoid errors and where required perform root-cause analysis to avoid reoccurrence.

Observation of Internal Controls: (Compliance Policy / FIM requirements)

• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
• Understands, follows and demonstrates 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:

Required Skills

• 2 to 4 years of relevant experience
• Understanding of OTC Derivatives products
• Knowledge of clients and products across Markets and Securities Services
• Strong presentation skills, ability to communicate clearly, concisely and effectively.
• Strong analytical skills, high attention to detail
• Strong client service attitude and communication skills for internal / external relations
• Strong planning and organisational skills, with a proven ability to prioritise competing demands and communicate this effectively
• Effective leadership with requisite interpersonal skills necessary to direct and motivate a large team to achieve results
• Excellent interpersonal skills with the ability to build and maintain global and regional relationships at all business levels
• Solution oriented approach with proven ability to work accurately under pressure, multi-task and handle ambiguity.
• Proven ability to execute and deliver change, within an operational context
• Management position with exposure to remuneration, performance management, team building and staff development.

Desired Skills

• Collateral Management experience
• University Degree
• Professional qualifications \xe2\x80\x93 e.g. CISI / IMC / CA / ACCA / CPA
• Relevant IT Skillset
• Management position with exposure to business partners across multiple geographical locations

Due to the urgent hiring need, candidates with immediate right to work locally and no relocation need will be prioritised.

The chosen candidate for this role will be required to undergo enhanced vetting. Subject to local laws, this will require the individual to satisfactorily pass a series of additional checks as part of the recruitment process and on an ongoing basis, if appointed to the role. HSBC Group reserves its position with regard to any steps which it may take in relation to any material adverse findings which arise either when the checks are originally completed, and/or if relevant, on an ongoing basis. For more information about the enhanced vetting for this role please contact the recruiter for this role.

You\xe2\x80\x99ll achieve more when you join 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.\xe2\x80\x9d

Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

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