Job description

Responsible for monitoring and facilitating settlements. Tri-party matching and allocation. This role is also responsible for reconciling positions and dealing directly with various Front Office desks.

Primary Responsibilities/Essential Functions:

• Monitor & Facilitate US Treasury securities settlements activity within Bank of NY Broker Dealer Systems (BDC and AccessEdge), managing within firm Net Free Equity (NFE) as well as Daylight Overdraft (DOD).
• Ensuring Triparty trades are affirmed and ultimately fully allocated in Accessedge
• Manage collateral projections in conjunction with Finance desk to ensure proper funding coverage for the broker/dealer within both Bilateral and Triparty transactions.
• Process funding transactions and related wire transfers on behalf of the HSBC Securities Inc. (HSI) and HSBC Bank USA (HBUS) Finance desk
• Responsible for reconciliation of FICC (Fixed Income Clearing Corporation)/GSCC (Government Securities Clearing Corporation) activity in RTTM (Real Time Trade Management) against clearance activity in the clearing bank settlement systems
• Communicate unrecognized trades/unmatched issues with trading/repo/sales desk and US client admin to minimize risk and exposure to HSI and HBUS.
• Ensuring proper fail reporting in IMPACT/BK of NY BDC fails to ensure proper TMPG Fails reconciliation/processing
• Manage Variable Margin (VM) and Initial Margin (IM) transactions across several platforms, Bk of NY, JPMChase and Euroclear.
• Monitor position and cash breaks between IMPACT and clearing bank settlement systems
• Responsible for reconciling TLM - statement vs. ledger as well as position
• Perform other job-related duties as assigned

Decision-Making Responsibility:

• Pro-active in escalation of problems
• Prioritizing trade settlement activity and reconciling problems using own initiative
• Performs settlement activities according to departmental procedures
• Ability to handle various tasks simultaneously and manage their time efficiently.
• Ability to work independently, but also within a team structure where effective communication is critical
• Understanding what issues need to be escalated, when and whom to escalate them to

Management of Risk

• Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.
• Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
• Each employee must promote an environment that supports diversity and reflects the HSBC brand.

Observation of Internal Controls

• Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year-end performance assessments.
• Each employee must understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.

For this role, HSBC targets a fixed pay range between $59,000 and $88,500.

The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.

Requirements

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.

• Knowledge of FICC, IMPACT
• PC Skills Excel/Word
• Knowledge of Bk of NY BDC and AccessEdge platforms.
• Good organizational and communication skills (verbal and written).
• Minimum of a BA/BS degree or relative experience

As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!

All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.

HSBC is one of the world’s largest banking and financial services organizations. Our global businesses serve around 39 million customers worldwide through a network that covers 62 countries and territories. Our customers range from individual savers and investors to some of the world’s biggest companies, governments and international organizations. We aim to connect them to opportunities and help them to achieve their ambitions.