Head of Digital Assets Operations, MSS

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HSBC Corporate and Institutional Banking (CIB) is a markets-led, financing-focused business that provides investment and financial solutions. Within CIB, Securities Services provides robust and reliable solutions that help clients mitigate risk and enhance their business performance. Working with institutional investors, banks, insurance companies, governments, and multinational corporations, this team covers fund administration, global custody, sub-custody and clearing, and corporate trust and loan agency services. .

We are currently seeking a high caliber professional to join our team as a Head of Digital Assets Operations, MSS.

Role Purpose

We are seeking a strategic and delivery‑focused Head of Digital Assets Operations to establish and lead the end‑to‑end operational model for digital assets across Markets & Securities Services. This role will create and coordinate a new capability – in many cases leveraging a virtual organisational model across existing Operations teams – to support digital assets and tokenised products from onboarding through post‑trade, settlement, custody, reconciliation, lifecycle and reporting.

The successful candidate will:

• Design and implement the target operating model for digital assets operations (including process, controls, systems and organisational design).
• Ensure safe, efficient and scalable support for digital assets activities across asset classes and business lines, with a particular focus on risk, control, client service and regulatory compliance.
• Partner closely with Product, Trading, Technology, Legal & Compliance, and Digital Assets leadership to ensure that new digital asset initiatives (including tokenisation, DLT/Blockchain platforms, CBDCs and digital currencies) are operationally robust and aligned to MSS strategy.
• Build and oversee a virtual network of subject matter experts across existing Operations teams, supplemented where necessary by dedicated resources, to deliver a consistent global service for digital assets.

Key Responsibilities

1. Strategy & Target Operating Model for Digital Assets Operations

• Define and own the Digital Assets Operations strategy for MSS, aligned to the broader Digital Assets and Commodities and MSS business strategies.
• Design the front‑to‑back operational model for digital assets (trade capture, confirmation, settlement, custody, collateral, lifecycle management, reconciliation, corporate actions/events, valuation and reporting).
• Develop a phased implementation roadmap for operational capabilities across regions and products, balancing speed‑to‑market with control, scalability and cost efficiency.
• Set and maintain standards and playbooks for digital asset processes, controls and documentation to be adopted across underlying Operations teams.

2. Operating Model Design & Virtual Organisation

• Establish a virtual digital assets operations capability, leveraging existing operations resources across product and regional teams while introducing specialised roles where necessary.
• Define roles, responsibilities and RACI across Operations for digital assets, ensuring clear ownership for each step of the trade lifecycle and for key control points.
• Embed digital assets responsibilities into BAU teams, including training, procedures and capacity planning, while maintaining a central oversight and coordination function.
• Identify and address capability gaps (skills, tools, processes) and propose appropriate resourcing solutions (e.g. centres of excellence, hub‑and‑spoke, shared utilities).

3. Risk, Control & Regulatory Compliance

• Ensure robust risk and control frameworks are in place for digital assets operations, including settlement risk, operational risk, cyber/technology risk and conduct risk.
• Oversee design and implementation of control environments specific to digital assets (e.g. private key management processes, on‑chain/off‑chain reconciliation, wallet management, DLT node operations oversight, segregation of duties).
• Partner with Compliance, Legal and Risk to ensure adherence to regulatory expectations on digital assets, including KYC/AML, sanctions, asset safekeeping, client asset rules, prudential and market conduct requirements.
• Introduce and monitor KRIs/KPIs for digital assets operations (e.g. settlement timeliness, fail rates, reconciliation breaks, incident metrics, client service metrics) and ensure timely remediation of issues.
• Provide operational input into new product approvals, governance forums and regulatory engagements relating to digital assets.

4. Process, Platform & Technology Enablement

• Work with Technology to define operational requirements for digital asset platforms (DLT nodes, wallets, custody platforms, settlement infrastructures, collateral and risk systems, reference data and static data).
• Champion automation and straight‑through processing for digital asset workflows, including integration between digital asset platforms and existing booking, confirmation, settlement and accounting systems.
• Oversee the design and implementation of reconciliation and break management for on‑chain and off‑chain records, including integration into existing control frameworks.
• Support the operationalisation of initiatives including tokenisation, DLT‑based issuance and trading, and engagement with digital asset CSDs, custodians, payment/settlement networks and CBDC arrangements.
• Ensure appropriate business continuity and resiliency arrangements for digital asset operations.

5. Stakeholder Management & Collaboration

• Act as the primary Operations point of contact for Digital Assets and Commodities, MSS leadership and other digital asset stakeholders within the Group.
• Partner with Front Office, Product, Technology, Finance, Legal, Compliance, Risk and Client Management to ensure digital asset offerings are supportable, scalable and commercially viable.
• Engage with external infrastructure providers (custodians, CSDs, DLT venues, payment providers) on operational design and service levels.
• Engage with clients, including Global Custodians and Financial Market Infrastructure providers, to support onboarding and ongoing requirements.
• Liaise with regulators, maintaining a strong understanding of relevant regulations and compliance standards.
• Contribute to industry forums and working groups on digital asset operations, where appropriate, helping to shape market standards and best practices.

6. People Leadership, Culture & Capability Building

• Build and lead a community of practice for digital assets operations across MSS, fostering knowledge sharing and consistent standards.
• Drive training and upskilling programmes to ensure Operations teams understand digital asset concepts (wallets, keys, DLT, smart contracts, tokenisation) and associated risks and controls.
• Promote a culture of innovation and continuous improvement in operations, encouraging experimentation and learning while maintaining a strong control mindset.
• Role‑model HSBC values and behaviours and ensure a diverse, inclusive and high‑performing team environment across both direct and virtual reporting lines.

7. Financial & Commercial Management

• Work with business and Finance partners to quantify and track benefits from digital asset operational initiatives, including efficiency gains, capacity creation and cost avoidance.
• Optimise the cost‑to‑serve for digital asset products by standardising processes, leveraging common platforms and driving automation.
• Support commercial decision‑making by providing operational input to business cases for new digital asset products, platforms and partnerships.

Qualifications & Experience

• Extensive experience in Markets and/or Securities Services Operations, with a strong track record in leading complex, cross‑product operational change.
• Proven experience designing and implementing target operating models and large‑scale transformation programmes in a global bank or financial market infrastructure.
• Deep understanding of the end‑to‑end trade lifecycle for capital markets products (e.g. FX, fixed income, equities, structured products) and/or securities services (custody, fund services, agency services).
• Demonstrated knowledge of digital assets and related technologies (e.g. blockchain/DLT, tokenisation, digital custody, smart contracts, digital/crypto currencies, CBDCs) and their implications for operations, risk and control.
• Strong familiarity with regulatory frameworks relevant to digital assets, client assets, safekeeping, AML/sanctions and operational resilience.
• Proven ability to develop and lead high-performing virtual teams and matrix organisations, aligning diverse stakeholders around a common operating model.
• Excellent stakeholder management and communication skills, including the ability to influence senior leaders and articulate complex operational issues in business terms.

Desirable Skills

• Experience establishing or leading digital asset, crypto or tokenisation operations in a bank, market infrastructure or institutional digital asset firm.
• Experience in securities custody, asset servicing and collateral operations for institutional clients, particularly as they relate to digital or tokenised assets.
• Working knowledge of wallet technologies, key management, chain analytics and related control frameworks.
• Prior engagement with regulators, central banks or industry bodies on digital assets, market infrastructure or operational resilience topics.
• Strong analytical and problem‑solving skills, with the ability to assess new digital business models and translate them into practical, controlled operational solutions.
• Demonstrated change leadership, with the ability to bring teams on the journey through clear vision, communication and delivery discipline.

Opening up a world of opportunity
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