Job Description

Job description

Some careers shine brighter than others.

If you\xe2\x80\x99re looking for a career that will help you stand out, join HSBC and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

Why join us?

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

Securities Services

As part of Markets & Securities Services, Securities Services provides administration services to some of the world\'s largest asset managers and owners, banks, broker dealers and corporates. These services connect our clients and their investors to investment opportunities, making Securities Services an essential part of the infrastructure that supports international capital flows.

Fund Services is an integral part of Securities Services providing services to the Asset Managers like Accounting and Valuations of NAV, Statutory Reporting and Global tax services. This includes valuing and publishing NAV for Funds to our Clients and preparing Financial Statements.

Opportunity:

Impact on the Business/Function

• Responsible for managing performance and deliveries of 8-10 FTEs.
• Contribution towards sustainable savings in relation to Process Efficiencies
• Supporting each global product on a regional basis by function or market.
• To plan for standardization of NAV & Financial Statement processes by sharing the best practices across the various markets with the aim to enhance cost effectiveness and efficiencies.
• Managing cost up to $200-250k
• The role holder is expected to spend at least 50% of the time on operations.

Customers / Stakeholders

• Supporting Fund Services - Accounting & Valuation and financial reporting, covering Europe or APAC for multiple clients Establish and maintain effective relationship with customer business areas and identify areas of service improvements
• Adhere to defined process KPIs and PLAs.
• Proactively identify and improve on service delivery
• Engagement with Business partners to understand and work on improving customer satisfaction

Leadership & Teamwork

• Typically managing 8-10 FTE, dependent on current BAU footprint and projected growth.
• Responsible for increasing the team\'s productivity and efficiency through various process improvement initiatives.
• Deputize the line manager in his / her absence and manage team effectively.
• Actively manage, retain and develop talent in the team
• Demonstration of Group values and principles in day to day work
• Execute all employee touch points.

Operational Effectiveness & Control

• Overall volume at Sub Product Level, Alternative Reconciliations - 1500 to 2000 GAV/NAV packs on annual basis, 400 financial statements on annual basis
• Single Process - Significant complexity/risk and responsibility due to multiple types of activities and client/jurisdiction level variances.
• Compliance & BRCM based on Grade complexity of funds/activity managed by role is decided by GSD line management based on experience and performance.
• Continually assess the risks inherent in department processes and procedures.
• High level variation and specific manual processes required by Product/System/Client/jurisdiction/ client
• To be aware of the Operational Risk scenario associated with the role, and to ensure that all actions during your employment with HSBC take account of the likelihood of operational risk occurring. Ensure escalation process is in place and is effective
• Be adherent to the audit standards of the group and compliant to all the policies and procedures
• Driving awareness within team of any new policy, procedures or code that needs adherence
• Regularly review operational effectiveness, control adequacy and procedures
• Timely and accurate publishing of MI/Reports
• Nil breaches in all group and risk policy. Audit, BRCM and Compliance reviews rated as \'satisfactory\'.
• Ensure completion of all mandatory training on time.

What you\xe2\x80\x99ll do:

• High and increasing awareness required across single or multiple products / single or multiple regions / single or multiple jurisdiction due to following: (FATCA / Dodd Frank / Volker / AIFMD / UCITS / DPA)
• The role will require technical excellence to achieve target deliverables combined with the ability to get work done from administrators/SME\xe2\x80\x99s to achieve target KPIs.
• The role will demand a daily balance of delivering an excellent client service within the Valuations and Reporting converged model of promoting continuous improvement of processes and of identifying and capitalizing opportunities to create capacity and generate efficiencies
• The major challenge for this role is to continuously manage deliveries within the specified time limit with minimum or no errors.

Business specifications for this role outlined below:

• Manage 8 to 10 direct reports, whilst overseeing additional headcount (indirect reports), as and when required by business
• Regular liaison with business partners
• Product Range / functions would include Alternative Valuations and statutory reporting function.
• Involvement in processing and technical aspects of the business
• Responsible functionally across multiple jurisdictions (where applicable) serviced out of City Office Kol
• Increasing complexity. Turnover 20%, 3- 6 month lead time to achieve threshold competency for new hires.
• Manage transformation and growth.

Requirements

What you will need to succeed in the role:

• Bachelor\xe2\x80\x99s degree in Commerce or qualifications to accounting/finance industry or relevant experience.
• Detailed understanding single sub-process, control points, end to end process risk.
• Excellent knowledge in accounting principles and fundamentals of Accounting.
• Excellent knowledge in reconciliations process with clear understanding of the E2E Fund Accounting Model.
• Basic knowledge in custody, brokerage, depository, investment accounting, mutual funds and reconciliations.
• Ability to speak and understand English
• 3-5 years of relevant Funds administration experience.
• Excellent Team Management skills with ability to handle personnel issues and strong team bonding.
• Efficient Time Management and ability to multi task work and priorities to meet defined deadlines
• Proactive in implementing and driving solutions.
• Ability to build excellent rapport and working relationship with other departments and jurisdiction thus ensuring smooth operations.
• Should have demonstrated behavior in line with HSBC values throughout
• Strong working knowledge on MS Office
• Will be expected to maintain HSBC internal control standards, including the timely implementation of internal and external audit points, together with any issues raised by external regulators.
• Must be aware of the operational risk scenarios associated with this role and act upon pertinent risk (if any).

What additional skills will be good to have?

• Additional qualifications related to financial industry will be given preference. Professional degree in accountancy is desirable.
• Knowledge of Derivatives Instruments
• Earlier experience in custody / brokerage / funds services / depository industry.
• Detailed understanding of end to end product and process, multiple market and regulations pertaining to the fund services industry.
• Working knowledge of Bloomberg / Reuters, other reconciliation and accounting applications used across industry
• End to end knowledge of Reconciliations, Valuations and Statutory Reporting

You\xe2\x80\x99ll 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.\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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