Job Description
At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.
The Trade and Transaction Reporting function provides control monitoring and oversight of HSBC’s trade and transaction reporting to regulators and exchanges. This role will be responsible for maintaining the Risk Based Control Framework (RBCF) for DFA/CFTC/SEC as well as US regulatory reporting such as TRACE, CAT, and Electronic Bluesheets trade and transaction reporting obligations, working alongside the Business, Compliance, Technology and other Operations teams. The role will focus on reviewing and investigating daily, weekly, and monthly metrics and dashboards, and performing first-level analysis on daily exceptions and reconciliation breaks to ensure compliance with the firm’s reporting obligations.
Impact on the Business
Create a robust control environment where regulatory reporting issues are identified quickly and accurately
Accountable for overseeing and monitoring correct reporting for regulatory reports.
Provide appropriate input in all change initiatives advising on potential impact upon reporting flow
Understand relevant requirements in different regions of the bank.
Ability to work independently, handle change efforts, manage processes and find ways to improve efficiencies
Have a control mind-set and look to actively manage down FINRA exceptions
Customers / Stakeholders
Business/Front Office Supervisors
Regulatory Compliance
Technology
Operations
Regulators
Leadership & Teamwork
Lead meetings with stakeholders at all levels and drive through targets
Ability to handle multiple work streams and prioritize effectively
Strong written and verbal communication skills to detail
Awareness of long term impact of regulatory environment and market changes on the business
Actively ensure proper mitigating controls are in place and be responsible for improving processes
Operational Effectiveness & Control
Must be aware of Regulatory Reporting issues and updates
Should be able to highlight any control issues that are found either within the team or the wider Operations’ teams that we monitor
Major Challenges
There will be a challenge in understanding the principles of the role and developing that knowledge while working on the other aspects this role requires.
There is also a technical aspect to the role since most of the reporting will be done automatically through the different systems in use. The multiple systems that form the basis of the work will present a challenge as an understanding of them all would be an advantage.
Ensuring any major changes from the regulators are dealt with quickly and efficiently, leaving no margin for HSBC to suffer financial or reputational damage.
Receiving input from, and dealing with, many different workflows, both from within the team and without.
Role Context
While the role is within a team, there will be a lot of self-motivation and working without direct supervision. There will be occasions when the role holder will need to run meetings and give out action points to people in the meetings.
The role requires someone who has a good overall understanding of how an investment bank works (i.e., roles and responsibilities of each function) and be able to tailor communication accordingly.
Management of Risk
Observation of Internal Controls
Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
Understands, follows and demonstrates 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.
Requirements
Education
Experience
Previous experience in Operations / Regulatory Controls within an investment bank preferred
Experience within Global Markets functions would be a distinct advantage
Skills
Evidence of active participation in establishing and managing effective Operational Risk
Strong analytical skills essential
Ability to give presentations is essential
Project management experience and/or Six Sigma qualification useful
Technical / IT understanding of how systems deliver regulatory reports is desirable
Strong people management experience
Excellent PC skills such as Microsoft Excel and PowerPoint
Strong organizational and planning skills
Ability to build and maintain relationship with the business areas supported and continuously give feedback through stringent follow-up
A sound understanding of the different Global Markets products in Fixed Income space
Fluent in spoken and written English
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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.