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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 Assistant Vice President - Traditional Fund Operations.
In this role, you will:
- To lead and manage Traditional Fund Accounting Process in Bangalore. Promote relentless focus on service quality across Traditional Fund Accounting Operational disciplines. Management of operational processes to meet or exceed service level requirements. Accountable for continuous process improvement of existing processes and migration of new functions from the Country office. Drive key employee initiatives to promote and position Markets and Securities Services as the employer of choice. Assist Vice President in financial planning to achieve cost targets set for the team.
- Typically managing 20-25 Full-Time Employees. Supporting Traditional clients and Product / sub products at a regional level as follows: Single Product: Fund Services. Multiple Sub Products: Pricing, Reconciliations, Gross Asset Value / Net Asset Value, Client Reporting. Improve operational efficiency on year-on-year basis to minimize overall cost and marginal cost of new business. Ensure service delivery quality and timeliness meet/exceed agreed threshold. Support Global Operating Model/Workflow/ Platform Change initiatives
- Supporting single product and multiple sub product, multiple regions, multiple jurisdictions as follows: Multiple Region: (Europe / APAC). Multiple Jurisdictions: (Ireland/Edinburg /Middle East/Hong Kong/Singapore). Engage with the end client/stakeholders to ensure team is aware of the changing expectations and challenges. Ensure understanding of the various requirements for various jurisdictions and thereby end client. Ensure regular business calls are held, and actions are completed within timelines. Typically managing 20-25 Full-time employees, dependent on current Business as Usual footprint and projected growth
- Typically managing from 4-6 directs, dependent on current Business as Usual footprint and projected growth. Will be responsible for leading the team in Bangalore for Gross Asset Value / Net Asset Value and client reporting for various jurisdictions. Attrition rate maintained within annual performance target. Recruitment/training of teams managed. Develop a culture of meritocracy, high-performance standards and high achievement. Manage Succession planning. Multiple Product / Sub Product. Multiple Region/Multiple Jurisdiction - Significant complexity/risk and engagement with business partners and external market /client/Auditors. New funds are being on-boarded directly in the City office with expectation of Business-as-Usual delivery from day 1.
- Migration of more complex activities from multiple jurisdictions to City office. Operational risk threshold through 'single event' control failure identified to USD 10 million based on 3–5 years data. Large variation and the manual nature of processes required by Product / System / Country / Client. Service Delivery quality/timeliness is within/exceeding agreed limits and regularly reported to stakeholders. Ensure effective production management capacity is in place for the process. Work towards minimizing business variance across jurisdictions/regions through standardization No Repeat high risk finding in Internal audit
- Manage migrations within project agreed timelines and risk parameters. Reduce Operational Losses on year-on-year basis and contain within agreed risk limits. Establish effective Business Continuity Planning for the processes. High and increasing various regulations that are being implemented in the Financial Services Industry. Multiple Accounting practices and treatments followed for different jurisdictions. Manage annual transformation – Support re-balancing complexity, volume and criticality across City offices to align to the Markets and Securities Services Location Strategy and Connectivity between City office and Jurisdictions. 20-25 Full time employees’ impact. Markets and Securities Services Operation (within Service Centers) is viewed as high growth and strategically important to achieve Markets and Securities Services strategic operating plan.
- Manage and Lead teams and ensure standardization of activities and service delivery between various jurisdiction centric teams. Supporting multiple products and regions that have differing market behaviors, but business is focusing on strategic Financial Institutions Group relationships. Increasing complexity. Turnover 20%, 3–5 months lead time to achieve threshold competency for new hires. The jobholder will also continually reassess 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 restructurings, and the impact of new technology. Also, by addressing any areas of concern in conjunction with line management and/or the appropriate department.
- The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business must comply. This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also, and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimizing relations with regulators.
To be successful, you will:
- Qualifications in Commerce, Accounting and Financial Management are desirable. Extensive Fund Administration experience, with experience in Pricing and Gross Asset Value / Net Asset Value preferred.
- Should have strong knowledge of products across range of securities services. Management position with exposure to business partners across multiple geographical locations.
- Management position with exposure to remuneration, performance management, team building and staff development. Fund Administration, with experience in Pricing and Gross Asset Value / Net Asset Value and Financial Reporting preferred
- Strong presentation skills, ability to communicate clearly, concisely and effectively in English, both oral and written. Multi-cultural background or experience, ability to work across broad range of cultures in support of HSBC Group values and objectives
- Strong analytical skills, high attention to detail. Strong planning and organizational skills, with a proven ability to prioritize competing demands and communicate this effectively
- Proven ability to execute and deliver change, within an operational context. Effective leadership with requisite interpersonal skills necessary to direct and motivate a large team to achieve results
- Solution orientated high energy characteristics necessary to support Markets and Securities Services business. Excellent interpersonal skills with the ability to build and maintain global and regional relationships at all business levels
- Strong collaborative management skills with the various stakeholders. Detailed knowledge of global market infrastructure. Expert level knowledge on Pricing of various instrument, Reconciliation, Net Asset Value, Various Indices, Funds’ Performance Attribution and Financial Statements.
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