Assistant Manager

Why join us?

• If you’re looking for further opportunities to develop your career, take the next step in fulfilling your potential right here at HSBC. Cash Equities Markets is integral to HSBC’s purpose and strategy, playing a valued role in Cash Equities trading life cycle management. Our global team of Settlement professionals’ partner with the business to provide accurate, efficient, and timely settlements, ensuring seamless downstream processing.
• We are currently seeking a high caliber professional to join our team as Assistant Manager. The Asia Settlements procedure is a High-Risk procedure covering the process of clearing and settlement ensuring that trades will settle (i.e. stock/cash movements are made to the respective buyer’s/seller’s stock balances and cash memorandum accounts.
• By joining us, we will provide you the product knowledge, trade life cycle understanding and settlement expertise that is expected to bring your career to the next level.

The Opportunity: 

• The Settlements Assistant Manager is responsible and accountable for the settlements and investigation’s function, managing operational risk including identification, assessment, mitigation and controls and reporting 
• This requires monitoring of all queues of the team, conducting of pre-settlement checks and affirmation of trades with counterparties, identifying and resolving any issues that may prevent timely and settlement. 
• The settlements function also serves as a layer of control where booking issues such as incorrect economics (wrong direction, currency, index, notional, counterparty, etc.) are detected, escalated, and resolved. The settlements assistant manager is expected to have these issues identified within the pre-settlement stage and escalated to senior management and the business for corrective action. 
• The settlements Assistant manager serves as a referral and escalation point for the team, together with the senior operations analysts. The assistant manager may perform some control functions such as monitoring settlement and payment task stations and seeing that the control framework is effective and consistently adhered to. 
• The investigations function also serves as a layer of control where booking issues such as incorrect economics (wrong direction, currency, index, notional, counterparty, etc.) are detected, escalated, and resolved. The investigations manager is expected to have their team assess the risk of all post value breaks within 24 hours of posting or of inquiry, and the appropriate steps taken to resolve them. The manager is also expected to ensure escalation to the manager, senior management and the business is done, and corrective actions are taken.

What you’ll do: 

• Resolving fails, and discrepancies with broker, counter parties and custodians.
• Handling inventory and funding shortage if identified to avoid fail settlement.
• Monitoring settlement risk and escalate issues appropriately.
• Investigate and resolve cash and position breaks.
• Issue cash and non cash margin, ensure that exposures are covered adequately and that the firm is not left at risk at close of business.
• Maintain strong operational controls and supports audit and regulatory reviews.
• Liaise with both internal and external stakeholders for any exceptions.
• Respond to client complex queries related to trade and settlements.
• Reviewing and rectifying the incorrect instruction for pre matching instruction.

What you will need to succeed in the role:

• Strong attention to details and risk awareness.
• Ability to work under tight deadline in a high-volume environment.
• Problem solving mindset with strong analytical ability.
• Understanding of global equity market and products (Cash equities, SBL, ETF , Fixed income and etc).
• A degree in Business or Finance would be preferred.
• Ability to speak and understand English fluently, writes business letters and reports, and have good conversational / telephone skills. 
• Able to work non-standard Asian hours (e.g. UK hours, Middle East Hours, US hours). 
• Ability to multi task including the ability to maintain focus while shifting between tasks/processes. This includes the candidate’s ability to manage the day-to-day operations of multiple processes with multiple Business Area operations colleagues.
• Work closely with Business Partners/Stakeholders to ensure the effective and timely delivery of all enhancements the tactical improvements needed for existing processes.
• Provide support for any ad-hoc project to the Head of Operations and Operation teams for any work involving collation, analysis and forecasting relating to Operational data.

What additional skills will be good to have?

• Leadership skills, with ability to build rapport with, relate to and effectively work with a wide range of people. 
• Able to step up during times of High volumes and season and where FO traders would request to handhold trades.
• Shares knowledge proactively and build bench strength.