Middle Office Desk Support

HSBC • New York, NY

4d

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.
As part of the Trade & Position Management (TPM) function of the Global Markets Middle Office (GM MO), the TPM MO Product Specialist & Controller plays a key role in supporting the GM MO operating model as a front-loaded control environment that drives data quality.
The group focuses on the early identification and efficient resolution of data issues to ensure high-quality, timely data is delivered from the Front Office to downstream functions, such as Finance and Risk.
As our Middle Office Desk Support, you will:

Requirements

• Experience in the asset class, with specific knowledge of equity derivatives, Structured Equity Linked Note, and equity & index swap
• Detailed understanding of derivatives P&L and Risk (such as market risk, sensitivities, liquidity, interest rate and FX risk) and the ability to understand and explain movements in both
• Knowledge of financial processing systems and accounting
• Excellent analytical and PC skills, as well as a keen eye for detail
• Strong organizational skills with the ability to work under pressure and prioritize effectively
• Ability to operate autonomously without direct supervision. Ability to analyze and make decisions quickly in the event of a problem
• Seasoned written and verbal communication skills. Ability to interact effectively with senior operational and trading management
• Ability to manage a network of diverse stakeholders in person and remotely
• Ability to quickly grasp new industry practices and create/document new processes
• Proactive thought leadership to identify and deliver process improvements and efficiencies
• Minimum of a BA/BS degree in financial or related field, or equivalent experience
• Display an understanding of and adherence to internal controls, as well as relevant regulatory guidelines and controls, and promote the awareness of the same
• Maintain awareness of the Operational Risk scenario associated with the role and act in a manner that takes account of operational risk considerations
• Ensure compliance with operational risk controls in accordance with internal and/or regulatory standards and policies; optimise relations with regulators by addressing inquiries
• Promote an environment that supports diversity and reflects the HSBC brand and adheres to the HSBC values
• Maintain HSBC internal control standards, including timely implementation of internal and external audit points together with issues raised by external regulators. Any failures to comply with the above are reflected in year-end performance assessments
• Understand, follow and demonstrate compliance with all applicable internal and external rules, regulations and procedures

Responsibilities

• Perform intraday and end-of-day revaluations at book/portfolio level prior to the batch process to provide a final check on data quality for downstream consumers
• Perform post-trade activities and life cycle management process
• Review PV and Risk impact on portfolio movements, new deals, life-cycle events, cancel and amends
• Compare end-of-day P&L with trader-produced numbers, highlighting differences and taking necessary corrective action to remediate
• Perform periodic intraday checks to ensure trade and market data quality, completion of life-cycle events, and accurate trade capture, working with the Front Office on cut-off times
• Perform daily checks of internal trade between trade systems
• Advise end users of data (Product Control, Traded Risk) of late or heldover trades and any known issues outstanding at the end of day
• Perform detailed root cause analysis on trade amendments. Provide management with analysis reports. Work with various stakeholders to help drive reduction in amendments
• Review market data for quality and accuracy of the data (identifying stale, incorrect and missing data), ensuring identified errors are corrected prior to the end of day
• Work with Global Data Services (GDS) to support efforts to improve the quality of daily market data feeds and data sources
• Support global efforts to document and maintain product booking models and procedures• Apply judgment to operational situations in a fast-paced environment to drive progress
• Identify potential financial risks to the bank and ensure proper resolution is achieved within the bank’s guidelines
• Escalate as needed to whom necessary any issues that may cause financial loss to the bank or that could affect client relationships

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: Entry Level