Business: Markets & Securities Services Open positions: 1 Role Title: Vice President Global Career Band: 4 Location (Country / City ) : Malaysia Recruiter Name: Norhidayah ABD RAZAK Why join us?
What you'll do: Impact on the Business
- Global Markets are embarking on creating a cross asset class Middle Office organisation supporting its Global Markets business
- The Global Markets Middle Office comprises of Trade & Position Management (TPM), Trade Data Quality & Reporting (TDQ) and Risk and Valuations Data Quality & Reporting (RVQ).
- The TPM function is asset class specific and comprises of all facets of the trade booking and trade maintenance lifecycle and all associated controls.
- The operating model for TPM is evolving to include a review of opportunities within the Finance and Traded risk functions
- The TPM Equities comprises of three functional layers; Desk Support, Control and Client Service and supports the three underlying product business units within the Equities business; Cash Equities, Prime Finance and Equity Derivatives.
- These are high risk (and highly manual) processes, involving direct access to primary trading systems and strong interaction with the business and customers including strategic clients, large corporate, broker dealers and investments funds.
- The breath of the TPM Desk Equities function range from Complex Trade Booking, Data Enrichment & Repair, Trade Lifecycle Events, Trades controls and Corporate Action Management, Query Resolution and Static & Market Data Management.
- Given the nature of the HBEU & HBCE balance sheet - with 'branches' for London / Paris / NY / HK - the role is responsible for London & Paris branches directly, as well as taking a lead on ensuring consistency and best practice is shared and followed across the other regions. The focus for this role has direct remit in Paris, with significant interaction and influence over the broader departments in London, NY, HK and the Operational Hubs.
- Internal stakeholder management is key to this role. The Equities business is growing with high demands and a significant focus on managing costs and efficiencies, whilst maintaining the highest standards in risk and control management. This role requires frequent interaction with senior sales and trading staff, and will be held accountable for maintaining and developing the risk and control framework in conjunction with both business needs and internal procedure and policies.
- To aid in the delivery of all the above, the role requires the ability to work closely with colleagues in technology and change to develop and enhance solutions to support the business and will be expected to be involved in numerous European and Global programmes of work - both within Operations and across the front to back environment.
Leadership & Teamwork
- Management and leadership of a direct team, to deliver sustained performance with significant benefits for the business
- Professionally representing the global Equity franchise across the business through proactive key stakeholder engagement at all levels of the organization
- Accountability and ownership for the Equity Derivative Event team, ensuring appropriate and effective controls are in place (and remediating any gaps)
- Senior face-off to multiple other areas (in addition to the front office) - including HSS (CTLA), Tax, Legal, HTS, Change
- Partnering with the change organisation in Operations and IT to ensure on-time and on-budget delivery of multiple significant projects.
- Ensure appropriate Global interaction across the EQD TMG group to facilitate optimal approaches that work for all branches of the HBEU/HBCE balance sheet (i.e. including NY and HK)
- Lead regular reviews of front to back processes to ensure efficiencies, reduction of operational risk and consistency across the locations where possible
- Event management KRIs are in control within agreed thresholds.
- Review new product requests - considering impact on all locations processing HBEU/HBCE branch business - all to be actioned within 2 days & any caveats addressed in the set up
- Keep abreast of external and internal change and ensure desk procedures are updated accordingly.
- Attend Project Working Group meetings as appropriate (e.g. auto ticket) to ensure Change initiatives are on track, or issues are escalated and resolved in a timely manner.
- Ensure business support models agreed & implemented (Globally where appropriate) are of the highest standards and in accordance with our Target Operating Model.
- Role Model for Markets Ops. Maintain & develop positive & professional working relationships with all team members. Drive high performance standard and maintain team engagement through formal training, development activities. Need to demonstrate working within a cohesive team connected with other departments
- Develop people by identifying talents within team, assign challenging tasks and projects, encourage staff mobility
- Consistently adheres to HR processes: Recruitment, talent reviews, achieves performance objective
- Always work in a good team spirit. Reliable and connected to other team members, Dynamic, spirit of initiative, autonomy
- Open with management during one to one and team meeting
- Transmit its technical expertise with other employees or newcomers.
- Diffuse any regulation or new constraint observed and affecting the activity
- Be part of the overall structure of Equity derivatives dept., providing input and buy in to strategy
Operational Effectiveness & Control
- Leadership - This is imperative across a number of key
- deliverables. Leadership should exist in implementation of the Risk and Control Framework, identifying efficiencies and driving departmental initiatives
- Teamwork - Create an environment where both within and outside of your direct responsibilities, Markets Operations are viewed as team players, striving to deliver in partnership with colleagues in the organisation.
- Business Strategy & Global Focus - Understand the organisation and structure
- Feedback from the team members and Front office, from London and Paris
- Regular Staff meetings and feedbacks
- 360-degree feedback reports at Year-End.
- Feedback in 1:1's and team meetings.
- Feedback from the regional & global teams.
- Feedback from the front office
- Feedback from internal clients / stakeholders
- Lead by example that will influence enforcement of Risk & Control framework and Change mind set for Markets Operations
- Regular dialogue within the team and with stakeholders
- Create greater formality on communication through management layers
- Understanding of how the business is organised and structured.
- Engage within the team to promote best practice and knowledge sharing
- Ability to identify areas of control and process weakness and take decisive action in managing resolution and preventing reoccurrence
- Define appropriate solutions or change projects in order to drive control improvements and maximize control efficiency, including process alignment and synergies between HK, NY, London and Paris.
- Assist the business to remain compliant with Market Operations requirement and receive no audit point
- Assist the Business to remain compliant with Market Operations requirements and receive no audit point
- Point of contact for Risk & Control, and full adherence to FIM and Escalation matrix.
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
- Partner with Risk Managers to ensure consistent approach to risk and control
- Participate in discussions around capacity and work drivers and review of brightlines
- Contributes to the creation of a rigid risk & control environment
- Follow formal escalation framework across all aspects of Operations, including day to day operational risks and systemic risks
- Partner with Risk Managers to resolve high audit items, deliver prompt resolution & actions, take ownership where appropriate and liaise with relevant Business stream to provide updates and transparency
- Monitor operational loss & near miss reporting (target is zero operational losses), ensuring that all mitigating actions where required have been implemented promptly.
- Audit reviews carried out by the internal audit. Target is zero audit points.
- Participates in weekly risk & control meetings, assuring the follow up of actions. The manager also monitors closely daily Key Operations Indicators
- Ensure that all controls are in place and promptly escalate when necessary
- Attendance as appropriate at Risk and control meeting. Adherence to escalation matrix.
- Zero audit point during the audit review
- Success managed through identification and remediation of daily issues and appropriate escalation to management. Proactively take action on escalated issues until resolution.
- Demonstrate positive trend in number of ops incidents
- Active involvement in department risk initiatives, including Risk Control Assessment
The role has full responsibility for all aspects of the local control environment and comply with the Global Best Practice and agreed process flows as defined by the global management team. Management of Risk (Operational Risk / FIM requirements)
Observation of Internal Controls (Compliance Policy / FIM requirements)
- Have a strong knowledge of the operational risk scenarios associated with the function, and should act to reduce these risks. Implement - in a timely manner - all new controls in order to avoid any audit points and in order to ensure compliance with any new rules.
- Ensure that all staff are sensitive to the operational risks and manage them appropriately. Adheres to the HSBC control framework and promotes excellent risk management across the function. Close working partnership with the Business Risk and Control team
Qualifications What you will need to succeed in the role:
- 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.
Link to Candidate User Guide:
- A detailed understanding of Equities Deriviatives Products & Fixed Income Products
- A strong understanding of the global organization within Equities Derivatives Business
- Strong man management and people development skills
- At least 5 years Operations experience, experience of dealing senior stakeholders within Business and Operations.
- Strong track record in managing and improving risk and control standards
- Strong relationships skills - the ability to develop strong working relationships with people at every level of the organisation in all functions
- Proven ability to drive and facilitate change