Job Description

Job description

Business: Valuations & Reporting Europe

Open positions: 1

Role Title: Manager

Global Career Band: 6

Location (Country / City ): City Office Kolkata

Recruiter Name : Archana Sharma

Why join us?

If youre looking for further opportunities to develop your career, take the next step in fulfilling your potential right here at HSBC.

Securities Services

As part of Markets & Securities Services, Securities Services provides administration services to some of the world's largest asset managers and owners, banks, broker dealers and corporates. These services connect our clients and their investors to investment opportunities, making Securities Services an essential part of the infrastructure that supports international capital flows.

Fund Services is an integral part of Securities Services providing services to the Asset Managers like Accounting and Valuations of NAV, Statutory Reporting and Global tax services. This includes valuing and publishing NAV for Funds to our Clients and preparing Financial Statements.

We are currently seeking an ambitious individual to join this team in the role of Manager - Operations

The Opportunity:

Impact on the Business/Function

• Responsible for managing performance and deliveries of funds and can have added People management responsibilities as per role requirement
• Contribution towards sustainable savings in relation to Process Efficiencies
• Supporting each global product on a regional basis by function or market.
• To plan for standardization of NAV & Financial Statement processes by sharing the best practices across the various markets with the aim to enhance cost effectiveness and efficiencies.
• Managing cost up to $200-250k
• The role holder is expected to spend upto 80% of the time on operations as per Role requirement

Customers / Stakeholders

• Supporting Fund Services - Accounting & Valuation, financial reporting and Global tax, covering multiple jurisdiction spread across multiple clients in Alternative or Traditional Clients.
• Establish and maintain effective relationship with customer, business areas and identify areas of service improvements
• Adhere to defined process KPIs and PLAs.
• Proactively identify and improve on service delivery
• Engagement with Business partners to understand and work on improving customer satisfaction

Leadership & Teamwork

• Shall be contributing as an Individual contributor or manage a team of circa 6-10 FTE based on role assignment as per process requirements.
• Responsible for increasing the team's productivity and efficiency through various process improvement initiatives.
• Deputize the line manager in his / her absence when IC role and manage team effectively.
• Actively manage, retain and develop talent in the team
• Demonstration of Group values and principles in day to day work
• Execute all employee touch points.

Operational Effectiveness & Control

• Overall volume at Sub Product Level, Alternative Reconciliations - 1500 to 2000 GAV/NAV packs on annual basis, 400 financial statements on annual basis
• Single Process - Significant complexity/risk and responsibility due to multiple types of activities and client/jurisdiction level variances.
• Compliance & BRCM based on Grade complexity of funds/activity managed by role is decided by GSD line management based on experience and performance.
• Continually assess the risks inherent in department processes and procedures.
• High level variation and specific manual processes required by Product/System/Client/jurisdiction/ client
• To be aware of the Operational Risk scenario associated with the role, and to ensure that all actions during your employment with HSBC take account of the likelihood of operational risk occurring. Ensure escalation process is in place and is effective
• Be adherent to the audit standards of the group and compliant to all the policies and procedures
• Driving awareness within team of any new policy, procedures or code that needs adherence
• Regularly review operational effectiveness, control adequacy and procedures
• Timely and accurate publishing of MI/Reports
• Nil breaches in all group and risk policy. Audit, BRCM and Compliance reviews rated as 'satisfactory\'.
• Ensure completion of all mandatory training on time.

What youll do:

• High and increasing awareness required across single or multiple products / single or multiple regions / single or multiple jurisdiction due to following: (FATCA / Dodd Frank / Volker / AIFMD / UCITS / DPA)
• The role will require technical excellence to achieve target deliverables combined with the ability to get work done from administrators/SMEs to achieve target KPIs.
• The role will demand a daily balance of delivering an excellent client service within the Valuations and Reporting converged model of promoting continuous improvement of processes and of identifying and capitalizing opportunities to create capacity and generate efficiencies
• The major challenge for this role is to continuously manage deliveries within the specified time limit with minimum or no errors.

Business specifications for this role outlined below:

• Shall be contributing as an Individual contributor or manage a team of circa 6-10 FTE based on role assignment as per process requirements, whilst overseeing additional headcount (indirect reports), as and when required by business.
• Regular liaison with business partners
• Product Range / functions would include Alternative Valuations and statutory reporting function.
• Involvement in processing and technical aspects of the business
• Responsible functionally across multiple jurisdictions (where applicable) serviced out of City Office Kol
• Increasing complexity. Turnover 20%, 3- 6 month lead time to achieve threshold competency for new hires.
• Manage transformation and growth.

Business Impact:

Given the criticality of the process, this role requires the job holder to adhere to process and FIM guidelines to ensure NIL impact to the business. Any exceptions, failures, inaccuracies or delays could potentially result in any of the following impacts.

• Financial Loss
• Regulatory Impact
• Reputational Damage
• Audit Findings / FIM Breach
• Increased Operational Risk

Requirements

What you will need to succeed in the role:

• Bachelors degree in Commerce or qualifications to accounting/finance industry or relevant experience.
• Detailed understanding single sub-process, control points, end to end process risk.
• Excellent knowledge in accounting principles and fundamentals of Accounting.
• Excellent knowledge in reconciliations process with clear understanding of the E2E Fund Accounting Model.
• Basic knowledge in custody, brokerage, depository, investment accounting, mutual funds and reconciliations.
• Ability to speak and understand English
• 3-5 years of relevant Funds administration experience.
• Excellent Team Management skills with ability to handle personnel issues and strong team bonding.
• Efficient Time Management and ability to multi task work and priorities to meet defined deadlines
• Proactive in implementing and driving solutions.
• Ability to build excellent rapport and working relationship with other departments and jurisdiction thus ensuring smooth operations.
• Should have demonstrated behavior in line with HSBC values throughout
• Strong working knowledge on MS Office
• Will be expected to maintain HSBC internal control standards, including the timely implementation of internal and external audit points, together with any issues raised by external regulators.
• Must be aware of the operational risk scenarios associated with this role and act upon pertinent risk (if any).

What additional skills will be good to have?

• Additional qualifications related to financial industry will be given preference. Professional degree in accountancy is desirable.
• Knowledge of Derivatives Instruments
• Earlier experience in custody / brokerage / funds services / depository industry.
• Detailed understanding of end to end product and process, multiple market and regulations pertaining to the fund services industry.
• Working knowledge of Bloomberg / Reuters, other reconciliation and accounting applications used across industry
• End to end knowledge of Reconciliations, Valuations and Statutory Reporting

Link to Candidate User Guide:

Youll achieve more at HSBC

HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.

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