Assistant Manager Reconciliation

Job Title : Assistant Manager Reconciliation

Purpose of the role:

To prepare/review accurate Reconciliations packs of funds on timely basis with expected quality.

• Will be responsible to ensure quality control for several portfolios of funds for multiple locations.
• Promote relentless focus on service quality across multiple funds
• Implement key changes in the process and deliver continuous process improvement.
• Be a focal point of contact for any fund specific / technical queries and issues within the process.
• Complete user acceptance testing / deliver process Improvements / act as alternate for 1st line manager.    

In this role , you will:

Impact on the Business/Function

• Ensure that support rollout of new products / activities is within Reconciliations’ scope.
• Drive efficiencies through automation / efficiencies in connectivity model
• Engage and participate in the deployment of defined business solutions to remove manual processes.
• Ensure Active participation and support of migration / re-migration of funds.
• Ensure high level department initiatives, regulatory, compliance and reduce risk.
• Formulate and implement robust control mechanism to eliminate risk (if any

Customers / Stakeholders

• Responsible for supporting Fund Services - Reconciliations, covering Europe / MENA / APAC for single or multiple clients
• Primary independent responsibility of reviewing Reconciliations packs and performing maker activities as and when required.
• Responsible for raising the exceptions with appropriate teams to ensure the actions of the same before finalizing the pack.
• Be the primary contact for Business Partners in relation to any query related to Reconciliations.
• Participate and provide high level support to the Manager in delivery of Reconciliations packs and creating efficiency in the process.
• Independently develop and maintain mutually respectful & successful relationships with internal customers & business partners.
• Ensure active participation in monthly BAU/Governance calls with various stake holders.
• Ensure all service delivery is timely, accurate and in line with PLAs, agreed standards, client commitments and BP expectations.
• Support in new launches/ migration of funds, new products or activities within the reconciliation.

 Operational Effectiveness & Control

• Responsible for Processing (prepare / review) allocated Reconciliations packs on annual basis per team’s average.
• Participate / facilitate in internal and external reviews of risks and processes.
• Proactively engaging with business partners and resolve any outstanding issues by coordinating with them.
• Ensure maintenance of HSBC internal control standards including the timely implementation of audit points.
• Continuously assess the risks inherent in department processes and procedures.
• Identify and reduce manual processes for enhanced operational control. Support and implement technology upgradation.
• Provide high level support in audit process and recommendations on a timely manner
• Ensure Mitigation of risk of errors and near misses in the valuation production process.
• Ensure that Audit, NFR and Compliance reviews to be rated as ‘satisfactory’.
• Ensure all services are delivered in line with agreed PLA and agreed standard.

Leadership & Teamwork

• Role comprises of 80% technical aspects which include reviewing and implementing process related controls and 20% comprises of activities such as training, coaching and mentoring the team.
• Responsible for process control activities and checking/reviewing of funds to ensure that Reconciliations delivered is accurate.
• Ensure continuous process related updates and training are imparted to the fund administrators on an ongoing basis.
• Share process related best practice with the fund administrators.
• Act as a coach and mentor for new joinee’s and all the team members.
• Undertake/conduct trainings for all staffs including existing and new staff.
• Ensure process related issues are raised at appropriate level and mitigated wherever possible at the earliest.
• Deputize the 1st line manager in his / her absence and act as a 1st line of escalations with regards to the technical issues.
• Contribute towards building an enthusiastic and motivated team
• Demonstrate Group Values and principles.
• Role will be of individual contributor in nature and will not have team reporting to the role

To be succeed in this role :

• Bachelor’s 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 comprehend and communicate (written / oral) in 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 multitask 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 behaviour 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).

Others 

Additional skills:

• Additional qualifications related to financial industry will be given preference
• 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

Business specifications for this role outlined below:

• Ideas/Initiatives/projects to reduce direct and indirect costs and to achieve sustainable savings
• Assist and participate in the deployment of defined business solutions to remove manual processes
• Ensure Reconciliation teams’ activities are in line with Global Operating model.
• Successful implementation of all process/department level initiatives.
• Adherence to all project/migration timelines.

 Business Impact:  

• Adhere to defined process KPIs and PLAs.
• NIL BP Complaints. All BP/ Stake holders’ queries to be responded/raised in a timely manner
• Open items to be followed up and closed in a timely manner
• Should have a good knowledge of all the sub processes of the Accounting and Valuation Product starting from Trade Processing.
• Should be accountable for all the activities falling with the scope of HSS Reconciliations team.
• Implement initiatives to increase business partner and end client satisfaction through improvement in quality and consistency of service delivery.
• All operations are performed as per laid down procedures

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You’ll 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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