Assistant Manager at HSBC
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HSBC - Vice President - Operations - Security Services (15-20 yrs)
Business Area Global_Banking_and_Markets
Job Title Vice President - Operations
Job Family Global Career Band 4
Role Purpose :
HSBC Securities Services (HSS) provides comprehensive global, regional and domestic fund services including fund administration, global custody, corporate trust and loan agency and sub-custody settlement and services to the international asset management industry.
Fund Operations is an integral part of HSS, which primarily undertakes Fees calculations, Fund allocation, NAV calculation and validation, Pricing, Financial Reporting, etc.to manage the operational activities/challenges of allocated processes and changing environment of the City Offices, while ensuring resources match workloads to provide cost effective processing to deliver an efficient, high quality service within Service Level Agreements. Also ensure that areas of operational risks are identified, monitored and managed effectively to enable business continuity.
Manage a team of staff within the Accounting and Valuations Department providing valuations and unit prices, reports and Financial Statements (where applicable) to Fund Administration clients. Following are indicative (not exhaustive) list of duties that are associated with the role
- Responsibility for the end to end management of the Operational Teams in HSS City Office Kolkata (and other sites as might be required by such changes in operating model as may be adopted from time to time)
- Manage service delivery covering Fees calculations, Fund allocation, NAV calculation and validation, Pricing, Financial or Statutory Reporting (Financial statements for funds prepared in compliance with relevant accounting standards and regulations and fund rules) and such other services that are offered to clients
- Promote relentless focus on Service Delivery and the clients
- Management of Operational processes to meet or exceed service level requirements (SLAs and KPIs).
- Accountable for continuous process improvement of existing processes and migration of new functions from the Country Offices.
- Accountable for financial planning to achieve cost targets.
- Drive key employee initiatives to promote and position HSS as the employer of choice.
- Responsible for the development of the Service offering in line with client's needs, industry and Group Target Operating Model.
- Working with the Product function/s and the BPD Team is an important aspect of the role, in order to agree that any deviations from the standard Operating Model are managed appropriately to the (potential) risk.
- Managing existing business, in addition to new business activities that are planned through the year. The job will require developing very good working relationships with the Country offices and other Services Management teams.
Span and Scope
- The role holder will typically manage a span of 100-250 FTE
- The role holder will lead a team consisting of AVPs, Managers, Subject Matter Experts and Fund Accountants
- Handling clients in different sectors including Alternative, Asset Manager, Private Assets, Insurance, Pension, Sovereign Funds and such other client sectors which are covered by HSS Fund Administration business clients, supporting product / sub products on a global basis
- The role holder though will be primarily responsible for NAV and Reporting service as mentioned above, will be required to possess end to end knowledge of Fund Administration services that feed into the NAV process. E.g. the entire process from Trades to NAV. This will enable the role holder in identifying areas of improvement or change and adding value to the entire Fund Admin process which will lead to improvement in service offering to our clients
Experience & Knowledge
- Very significant experience in the financial services industry with solid and significant management experience.
- Degree level education. Professional qualification or membership of a professional body relevant to the position desirable.
- Strong product knowledge of Alternative and Traditional Funds.
- Demonstration of control understanding and risk management approach.
- Demonstration of strong industry knowledge is essential.
- Practical experience of process reviews and re-engineering required.
- Ability to participate in strategic planning and budgeting for the department.
- Service oriented.
- Proven record of improving efficiency including introduction of automated solutions.
- Excellent communication and relationship management skills.
- Knowledge/experience of current technology in the market and understanding of how this can be implemented/used within the Fund Services space - including Blockchain, Robotics, AI, Machine Learning.