Head of US Clearing and Settlement North America

HSBC • Jersey City, NJ

20d

About The Position

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.
Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC, we use our unique expertise, capabilities, breadth, and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities, and the planet we all share.
The Head of US Clearing and Settlement North America will have accountability for the function across the United States, playing a pivotal role in the deployment and management of an end-to-end operating model delivered both through teams at HSBC and through our partnership with Broadridge. As the primary control owner, ensuring a best-in-class control environment driven through both internal Key Risk Indicators (KRI's) and external Service Level Agreements (SLA’s) will be a critical accountability. The incumbent must therefore demonstrate both people leadership and external vendor management excellence.
Critical dimensions of the role:
Challenge the existing control environment reducing non-financial risks across both Custody and Markets environments
Take the lead role in driving initiatives to deliver strategic development of Clearing & Settlements organization, technology and operating model, continuously improving the control and process efficiency of the department
Create a differentiating client service capability ensuring clearing and settlements can be cited as a competitive advantage to the business
Act with a commercial mindset, balancing control, service and cost variables in relationships with vendors (eg: Broadridge) and other business stakeholders across both Markets and Security Services (SSV)
Manage all budget requirements for Clearing & Settlements in the Americas including full-time equivalent (FTE), meeting financial targets
Develop the Clearing & Settlements utility management and leadership capabilities, focusing on succession planning to ensure current and future operational requirements are met. Work in partnership with Human Resources to develop and maintain a high-performance culture

Requirements

• Exposure to Direct Custody & Clearing, Global Custody, Markets and Treasury Operations products and processes
• Proven experience of providing Clearing & Settlements Operations leadership both through internal teams and 3rd party providers
• Strong leadership skills evidenced by achievement of objectives together with a track record of development of individuals
• Proven track record of delivering scalable and sizeable transformational projects and change programs
• Proven track record of healthy challenge to clients and support functions
• Demonstrable experience of working in diverse and multi-cultural financial institutions
• Ability to manage sustainable and robust relationship across multiple business lines and geographies
• Demonstrable risk management background and skillset

Responsibilities

• Ensure strict adherence to the various risk and HSBC polices that exist within Markets & Securities Services (MSS)
• Manage and deliver services in accordance with the functional and sector SLA's
• Drive and deliver the end-to-end target operating model whilst measuring and reducing the associated Cost Income Ratios associated with the operational activities
• Partner with the Clearing and Settlements leadership group to seamlessly manage transformation activities and drive a culture of inclusiveness and seamless operational activities
• Influence the business effectively to avoid creating products or processes that compromise client, risk or cost
• Lead the organization as a business, including managing to FTE and cost targets. Demonstrate a detailed understanding of variances against both
• Deal with senior business leaders, anticipating their needs and managing their expectations accordingly
• Connect with Sales, Product / Product delivery and Risk Stewards as a trusted partner to our clients (both internal & external)
• Drive and maintain connectivity across global Clearing & Settlements teams
• Develop the strategic relationship between MSS and Broadridge relating to clearing and settlements
• Drive partnership with Technology and other support functions to achieve seamless execution of the Clearing & Settlements aligned products
• Manage interaction with the clients, including due diligence requirements
• Deliver operational excellence utilizing metrics and management tooling deployed across all products and jurisdictions
• Maintain HSBC internal control standards, implement and observe Group Compliance Policy and maintain awareness of operational risk and minimize the likelihood of it occurring
• Streamline operational procedures to minimize cost, enhance system automation and ensures service quality and productivity
• Protect the interests of the Bank and manage operational risk
• Execution of operational activities within client SLA's
• Lead a large and diverse team towards achieving strategic objectives, delivering client service excellence
• Manage multiple streams of work at once covering different topics and stakeholders
• Develop management and leadership capability
• Motivate and drive teams to support all functional stakeholder requirements and initiatives
• Lead work front to back, including engaging colleagues from Risk, Finance, Compliance and Technology

Benefits

• As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow.
• We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming and inclusive work environment.
• You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives.
• You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC.
• We value difference.
• We succeed together.
• We take responsibility.
• We get it done.
• And we want you to help us build the bank of the future!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed