Vice President, Middle Office Service Delivery

HSBC•Quezon City, MN

About The Position

Some careers have more impact than others. If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be. 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. We are currently seeking an experienced professional to join our team in the role of Vice President, Middle Office Service Delivery. The jobholder is required to work with high accuracy and timeliness in meeting the market deadlines and client’s service level agreement and to assist with reviewing the work outputs. Where a risk event or an operational issue is found, timely reporting/escalation of issues is required to the immediate reporting line. The nature of the role requires exposure to Cash Management/Settlement/Pricing and building strong relationships with internal and external parties like clearing brokers and custodians. Role Context This team lead role is responsible for Operating model build & roll out of Aladdin Investment Operations. The team lead will deal with all escalated client inquiries, serving as SME lead to the MSS Middle Office client and ensuring all Middle Office/operational functions and deliverables to the client are met with a high standard by internal teams within agreed upon SLAs. Operational functions include, but are not limited to the following: To process trade matching and settlement services in respect of Investment Operations activities by ensuring all securities trades are matched to broker’s trade confirmations and instructed to client’s custodians for settlement within strict deadlines (Securities Processing) To process trade matching and margin management for Middle Office clients (ETD Margin Management) To process trade confirmation, lifecycle event management of OTC transactions Provide client services to Middle Office clients to ensure all enquires are resolved on a timely basis Facilitate transformation projects and assist project management from time to time

Requirements

Intermediate experience working within an Investment Management, Brokerage and /or Custody environment is essential to perform this role, with specific knowledge and experience of the following:
Strong knowledge of Investment / Middle Office operations preferably with a hands-on knowledge to operate Calypso, HSBCNet, Multifonds, Markit EDM, TradeFlow, Aladdin.
Proven knowledge of Derivative Management gained within the Investment Bank/ Fund Services Industry, specifically exposure to OTC Derivative products.
A working knowledge of Securities Trading confirmation and settlement procedures and market practice, including the use of Electronic Trade Confirmations and SWIFT settlement message types.
Proven in depth knowledge of CSA agreements and associated ISDA agreements
Experience in running Middle Office / trade support function with international financial institutions.
Good understanding of Fund Service model and the role of the Middle Office in it's business context
Good understanding of relevant anti-money laundering legislation and how it impacts the Fund Service model
Proven ability to articulate complex issues concisely and in clear language.
Ability to prioritize workloads and work quickly & accurately with good attention to details
A good team player with good adaptability and a flexible attitude.
Able to work in a diverse environment with good interpersonal and negotiation skills
Strong business sense with good analytical and project management skills
Good communicator, both verbally and in writing
Self motivated with excellent planning, analytical and organizing skills
Creative thinker and change agent
Able to demonstrate an attention to details
Proven ability to manage the MO team and delegate authority
Traveling is necessary as and when required
Experience in working with a wider group of stakeholders including front office, product control and technology.
Managing conversation with regulators, vendors and other external stakeholders.
Due to the urgent hiring need, candidates with immediate right to work locally and no relocation need will be prioritised.

Responsibilities

Run the Investment Operations activities effectively and efficiently with support provided to all MSS offices
Manage and control the resource allocation to maximise synergy and maintain budgeting of the department
Exercise a high degree of liaison with IT department and manage business expectations and negotiate compromise, raising system enhancements where applicable to prevent error recurrence, and to automate or improve internal process
Able to work under pressure and within set time frames
Develop and maintain a professional, high quality team, with a proper focus on culture and ethical standards
Define key metrics to measure project progress
Ensure a smooth business transition within Investment Ops during contingency by effectively manage the Business Recovery Plan
Ensure the team’s adherence to compliance standards and Group Policies/Procedures and application of Anti-Money laundering and KYC criteria to work processes
Escalation of disputes in line with client SLA
Provide expert advice, guidance, query handling to meet client needs and expectations
Maintain effective inter-departmental and external communication
Maintain on-going good working relationship with clients, prime brokers and clearing brokers
Communicate actions to the relevant parties (e.g. Client Dealer Support, Vendors, Brokers and Custodians etc.)
Communicate with City Site management and staff
Establish good internal working relationship and identify individual training needs
Take ownership of tasks/issues and ensure these are all followed through to completion.
Provide cover for other team members in their absence, be available as first level of escalation and support for queries from internal departments and external contacts
Create a motivated, high performing team with appropriate staff development and appraisal/review processes
Run the operation in adherence to HSBC’s internal procedures, key controls and risk prevention measures
Ensure that the current procedures and checklists comply with the requirements of Audit, FIM, external regulators and Operations Risk and Control.
Adhere to predefined procedures and compliance requirements in daily operation
Re-assess continually the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructures and the impact of new technology