Assistant Manager

2 weeks ago


Kuala Lumpur, Malaysia HSBC Full time

-Job description

**Why join us?**

If you’re looking for further opportunities to develop your career, take the next step in fulfilling your potential right here at HSBC. Global Debt Markets (GDM) is integral to HSBC’s purpose and strategy, playing a valued role in Debt Securities trading life cycle management. Our global team of Settlement professionals partner with the business to provide accurate, efficient, and timely settlements, ensuring seamless downstream processing.

We are currently seeking a high caliber professional to join our team as Assistant Manager. The CREST Settlements procedure is a High Risk procedure covering the process of clearing and settlement ensuring that trades will settle (i.e. stock/cash movements are made to the respective buyer’s/seller’s stock balances and cash memorandum accounts. By joining us, we will provide you the product knowledge, trade life cycle understanding and settlement expertise that is expected to bring your career to the next level.

**The Opportunity**:
The Settlements Assistant Manager is responsible and accountable for the settlements and investigations function, managing operational risk including identification, assessment, mitigation and controls and reporting

This requires monitoring of all queues of the team, conducting of pre-settlement checks and affirmation of trades with counterparties, identifying and resolving any issues that may prevent timely and settlement.

The settlements function also serves as a layer of control where booking issues such as incorrect economics (wrong direction, currency, index, notional, counterparty, etc.) are detected, escalated, and resolved. The settlements manager is expected to have these issues identified within the pre-settlement stage, and escalated to senior management and the business for corrective action.

**What you’ll do**:

- Ensures the team affirms Gilt Bond flows with counterparties and performs all pre-settlement checks (settlement instructions, booking, etc.)
- Ensures the team claims and investigations bond breaks 1 day after settlement, prioritizing based on risk.
- Monitors the gilt markets and ensuring appropriate corrective actions are taken to address issues that may prevent timely and accurate settlement.
- Timely escalation of issues that may threaten the settlement of cash flows or material risks.
- Implementing policies and procedures of the function as well as by direction of management.
- Participate in forums and meetings to drive client service excellence
- Provide an excellent level of service and support to our colleagues, internal and external customers, taking ownership of issues arising, as well as developing and maintaining good relationships all around.
- Fully support all Departmental projects and user testing including those for BCP purposes.
- To continually evaluate existing processes, challenging current procedures and suggesting enhancements as appropriate, in order to improve the Customer Service Proposition and increase levels of efficiency and STP at all levels.
- Assist Manager will additionally be responsible for the smooth running of their section, acting as the focal point for referral and deputizing when Line Management is unavailable.
- Continually review the effectiveness of the control framework and takes steps to improve the process
- Play an active role in change initiatives - it is expected that productivity increases year on year

The settlements manager serves as a referral and escalation point for the team, together with the senior operations analysts. The manager may perform some control functions such as monitoring settlement and payment task stations, and seeing that the control framework is effective and consistently adhered to.

The investigations function also serves as a layer of control where booking issues such as incorrect economics (wrong direction, currency, index, notional, counterparty, etc.) are detected, escalated, and resolved. The investigations manager is expected to have their team assess the risk of all post value breaks within 24 hours of posting or of inquiry, and the appropriate steps taken to resolve them. The manager is also expected to ensure escalation to the manager, senior management and the business is done, and corrective actions are taken.
Requirements

**What you will need to succeed in the role**:

- Accomplished understanding of GDM business i.e. Front to Back trade lifecycle process and interest rate derivatives - booking, resets, fixing advices, settlements to name a few
- Basic control doctrines - segregation of duties, access management, escalations, checklists, reports to name a few
- Demonstrate clear understanding of financial markets in terms of general principles and products of the markets
- Strong interpersonal skills. Ability to communicate effectively between clients and the various departments within HSBC.
- Strong client service focus and understanding displaying a natural interest in Client.
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