Associate Director, Due Diligence and Custody Oversight, Global Trustee and Fiduciary Services
Kowloon City, Kowloon, HK
GCB 4
Role Purpose
An individual contributor role to independently conduct Due Diligence (DD) reviews on behalf of HSBC Institutional Trust Services (Asia) Limited (“HTHK”) and HSBC Provident Fund Trustee (Hong Kong) Limited (“HPFT”). The DD reviews are conducted on different service providers/delegates (e.g. Investment managers, member administrators, fund administrators, custodians, registrars) in order to demonstrate that Global Trustee and Fiduciary Services (“GTFS”) Hong Kong is fulfilling its fiduciary obligations in accordance with regulatory expectations and GTFS standards.
In addition, an individual contributor role to design and implement a programme of ongoing oversight on Custody Delegates of the two GTFS HK entities.
Given the interaction with relatively senior stakeholders in these service provider/delegate organisations, it is important that the role holder represents HSBC and GTFS HK effectively and displays the HSBC Group’s Values Aligned Behaviours.
Principal Accountabilities:
• Independently conduct due diligence reviews on different types of service providers/delegates, including investment managers, member administrators, fund administrators and custodians, in accordance with regulatory expectations and global TFS standards
• Analyse service providers/delegates’ current processes and controls against regulatory requirements and industry best practices through written and verbal inquiries, discussion with management and Operational specialists, administrative walk-throughs, system demonstrations and sample testing, and provide appropriate recommendations for the respective organisations
• Ascertain how each service provider/Delegate complies with relevant regulations and ensures optimal, fair and equitable results for Fund/scheme beneficiaries
• Review and/or complete the Due Diligence checklists, internal reports, risk assessments and closing documentations for each review within the set deadlines
• Identify and discuss any potential findings/observations and relevant recommendations with the Due Diligence team, and communicate the review results with service providers/delegates to ensure controls and processes are implemented/improved
• Discuss and analyse the impact of regulatory updates on the work of GTFS
• Manage ad hoc projects as necessary
• Independently design and implement a programme of ongoing oversight of Custody Delegates.
Knowledge & Experience:
• The role can be performed only by a Licensed Representative licensed for SFC Regulated Activity Type 13 (i.e. RA13 license). If not already licensed as such, the role holder must be capable of fulfilling the licensing conditions relevant to RA13 including passing the relevant examination/s and having the relevant professional qualifications and/or industry experience.
• Appropriate Trustee or Funds experience, with solid experience at manager level.
• Solid understanding of financial instruments, stock markets and derivatives.
• A good appreciation of the Hong Kong funds regulatory environment and detailed knowledge of regulatory developments
• Appropriate technical knowledge to deal with legal, accounting and technical issues arising in relation to the oversight of funds
• Preferably, prior work experience in conducting audits or compliance reviews in the funds or trustee industry
• First rate communication and presentation skills, experience and confidence in dealing with clients at a senior level
• Ability to demonstrate ownership and management of issues
• High degree of computer literacy
• Excellent numeric and analytical skills with strong attention to detail
• Strong team working ability and capable of encouraging ideas and input from team members
• Ability to balance client relationship management with maintaining independent oversight and supervision.
The employment is subject to Mandatory Reference Checking Scheme (MRCS) as per regulatory requirement. For details, please refer to (Mandatory Reference Checking Scheme Phase 2 | The Hong Kong Association of Banks).
Opening up a world of opportunity
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Issued by The Hongkong and Shanghai Banking Corporation Limited.
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