Trade Mid Office Manager
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 Assistance vice president, Global Trade Solutions Operations (GTS), will provide specialized trade finance operations processing of Trade/Commercial Letter of credit transactions The job holder will handle high priority Trade/ Commercial Letter of credit related transactions primarily for Corporate and Institutional Banking (CIB) customers. As part of processing, the job holder is expected to develop and maintain strong working relationships with internal and external stakeholders. Provide support and guidance to the department on areas of improvement/concerns with regard to Financial Crime Compliance and Regulatory controls. Act as a Services champion to ensure that key objectives are prioritized appropriately within CIB. Ensure positive client experiences through support, trade advice and best practices in relation to GTS transactions. Ensure that GTS Services is responsive to the requirements and expectations of Global Businesses. Manage processes, infrastructure and resources needed to deliver agreed team plans and targets, identifying and implementing improvements and collaborating with colleagues to maximize end to end integration, effectiveness and efficiency. Maintain a robust and efficient control environment to ensure good operational, financial and project management and compliance with HSBC policy and procedures, together with early identification and effective resolution or escalation of issues that arise.
Requirements
- In-depth knowledge of industry standards related to Global Trade and Receivables Finance (GTRF) products and services
- Experience in checking Import and Export letter of credit documents subject to specific delegated authority limits
- Experience importing LC issuance and Export LC advising subject to specific delegated authorized limits
- Experience with leadership and governance responsibilities, assisting the line manager in managing core trade transactions quality controls and reviews, addressing errors and arranging training for the onshore and offshore teams
- Experience and knowledge of core trade and trade loan products, supporting product team developments and delivering products and solutions
- Experience in reviewing new and existing GTRF transaction operating procedures and practices
- Experience with pertinent mainframe systems and software packages for core trade transactions process systems such as GTRF user system, HTS, HFE, WDM, GMG, and FileNet
- Experience with US regulatory requirements related to Anti-Money Laundering
- Knowledge and experience in handling Anti-boycott transactions
- Experience in evaluating and handling transactions against applicable policies and procedures by assessing the quality of decisions and documentation in terms of financial crime risk and global sanction policy
- Experience with commercial or standby letters of credit, trade services, trade finance, UCP600, or ISP98
- Certified Documentary Credit Specialist (CDCS) is required
Responsibilities
- Day-to-day processing of Trade/ commercial Letter of credit transactions.
- Process letter of credit issuance, amendment, advising, confirmation, and transfer LC
- Scrutinise/examine import and export documents to ensure compliant documents are presented, or raise any discrepancies and highlight any issues or shortcomings
- Record import and export bills, discount and process payments in the system
- Handle trade loan disbursement and repayment
- Perform internal account reconciliation relating to core trade transactions
- Review various exception reports to ensure exceptions are understood and resolved
- Proactively respond to queries related to LC processing from various stakeholders
Benefits
- tailored professional development opportunities
- competitive pay and benefits package
- robust Wellness Hub
- welcoming and inclusive work environment
- industry-leading volunteerism policy
- generous matching gift program
- comprehensive program of immersive Sustainability and Climate Change Initiatives
- Employee Resource Groups
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
