Asst Mgr - Processing

Why join us?

Tax Services within Markets Securities Services (MSS) covers multiple products including Markets, Custody, Direct Custody and Clearing and Funds Globally. This role will be based in Kuala Lumpur and will be responsible for the processing and decision making for the day-to-day Tax Services processes resulting from Mandatory and Voluntary Asset Servicing events including but not limited to, Tax Documentation, Tax Reclaims, Tax Calculation and Tax Reporting, The role holder will also need to ensure all controls are adhered to, and client queries are turned around quickly.

This role holder will also be required to adhere to understanding and identifying operational risk, including its identification, assessment, mitigation and controls, loss identification and reporting in accordance with the Operational Risk Management Framework by adhering to all policies, risk and controls, regulatory and compliance requirements. The role holder will be required to manage daily decision making, escalation & communication with stakeholders and clients as appropriate.

What you’ll do:

Customers / Stakeholders

• Customer/Stakeholders include but not limited to, HSBC offices globally, Custodians and Agents Globally, internal customers within the various Global locations, external clients, Tax offices globally and multiple business lines and products.
• Communicate effectively with internal and external clients to resolve issues efficiently.
• Ensure client queries have a good response time within the expected 24-hour window.
• Relationships are kindled with all customers.
• Problem situations are proactively identified and resolved to give maximum customer satisfaction and escalated where necessary. Appropriate measures are taken to improve quality and prevent recurrence.

Operational Effectiveness & Control

• Ensure daily operational efficiency by effective BAU completion, decision making, market specific requirements/procedures visibility and performance monitoring of various systems in own process.
• Issues/problems are fully analyzed and resolved or escalated where necessary. Appropriate action/controls are taken to prevent recurrence.
• To acquire a broad understanding of the business and to keep abreast with the latest developments in the assigned markets on the rules and regulations by the regulators and stock exchange that may have implication to the daily operations. 
• To consistently maintain a high level of customer service by achieving established SLAs.
• To support/implement Business Continuity Plan (BCP) by adhering to Group BCP guidelines.
• Ensure all instructions from customers and to agents and custodians are actioned in an accurate and timely basis.
• Full adherence to team’s control functions and end of day checklists/requirements.
• Ensure all reconciliation items are cleared correctly and on a daily basis where possible, and that all outstanding items are narrated and adhering to the company FIM policy.
• Ensure that all notifications that are sent to your customers are accurate and on time.
• Operational losses are kept to a minimum.
• Reconciliation items are kept to a minimum.
• To ensure prompt escalation (as per escalation matrix) for all matters which may present a potential financial loss or client service concern.
• To demonstrate critical and analytical skills that include the ability to analyses information and generating ideas/solution for decision making based on available references.
• Provide support to team members on operational activities to ensure all aspects of team activities are satisfactorily covered.
• Demonstrate the ability to adapt to change.

Leadership and Teamwork 

• Ensure the daily BAU is completed accurately and in a timely manner. Including ensuring the daily processes meet predetermined quality standards and critical deadlines, thus contributing to a high quality MSS client service without negative regulatory impact.
• Ensure effective decision making on a daily basis to ensure the daily BAU processed meets the expected standards and any risk is identified and mitigated.
• Complete and / or manage delegated tasks from other team members or Manager.
• Ensure that internal and external queries are dealt with within 24 hours.
• Work closely and collaboratively with business partners within Asset Servicing and Tax Services and other departments including Non-Financial Risk and Product.
• Support projects assigned by Senior Management from time to time.
• Ensure escalation takes place where necessary.
• Train and coach colleagues when required including providing coaching and support to team members on operational activities to ensure all aspects of team activities are satisfactorily covered.
• Proactively cross train across the various Tax Services processes to help support capacity planning and own individual development.
• Understanding and solving daily queries.
• Work with the change team to provide detailed requirements and ensure projects are delivered on time.

What you will need to succeed in the role

Knowledge

• A post-graduate diploma or degree in any discipline and equivalent practical experience / maturity.

Experience

• Extensive experience in Tax processing is preferred.
• Knowledge of internal systems will be an added advantage.
• Specific market knowledge is beneficial.
• Strong understanding of risk and risk management in Tax Processing.
• Excellent knowledge of Tax practices/rates included but limited to, Tax Documentation, Tax Reclaims, Tax Calculation and Tax Reporting will be an added advantage.
• Practical and working knowledge of operations functions is preferred.
• Attention to detail along with speed and accuracy are important, along with the ability to work in a team.

Skills

• Ability to speak and understand English fluently, write business letters and reports, and have good conversational / telephone skills.
• Ability to learn quickly, transfer knowledge appropriately, understand and interpret numeric data.
• Evidence of good analytical, statistical and data mining skills to study trends and make projections.
• Evidence of strong operational decision making.
• Production management skills and ability to initiate process improvements.                                
• Attention to detail and accuracy.
• Customer focused and committed to providing a high-quality service.
• Able to work in pressurized environment and manage priorities effectively.
• Strong collaborative management skills with the various stakeholders.
• Problem solving skills and ability to drive process improvements.
• High integrity and professionalism.
• Good interpersonal skills and networking abilities in building relationships with people at all levels.
• Good organizational skills with the ability to prioritize workloads to meet tight deadlines.
• Able to work and think correctly under pressure.

What additional skills will be good to have?

Management of Risk (Operational Risk / FIM requirements)

• The candidate will be required to understand the risks associated with the Tax Services environment. They must also ensure that the FIM requirements of HSBC are adhered to on a daily basis.

Observation of Internal Controls (Compliance Policy / FIM requirements)

• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Major Challenges:

• Deal with the specific requirements for the various markets assigned and to look into effective ways to standardize certain practices across markets.
• Keep abreast with the latest development in the rules and regulations by the regulators of the various markets and to identify the implications involved to the current Tax Services processes.
• Drive customer centric Quality initiatives.
• Effectively mitigate identified Operational Risks.
• Comply with Group’s statutory audit standards.
• Attention to detail and the ability to multi task is very important.

Role Context:

• The role occupant will be responsible for ensuring the day-to-day processes, controls are adhered to, and client queries are responded too in a timely manner. The candidate will interact with external parties and internal teams across MSS.
• To ensure Tax Services processes and decision-making meet predetermined quality standards and critical deadlines, thus contributing to a high quality MSS client service without negative regulatory impact.
• To acquire a broad understanding of the business and to keep abreast with the latest developments in the assigned markets on the rules and regulations by the regulators and stock exchange that may have implication to the daily operations. 
• Support the delivery of projects to ensure they are delivered on time and successfully.
• Support a good working environment and ensuring that issues/problems are investigated/resolved immediately or escalated.
• Provide support and manage good repo with stakeholder, client, account manager, Client Service in all tax related issues.
• Cross train across the various Tax Services processes to help support capacity planning and own individual development.
• Willing to work in any assigned working hours in accordance with business requirements.
• The ability to think clearly and logically in a busy and deadline orientated environment is required to mitigate mistakes happening and losses being incurred. The candidate will need to work efficiently to prioritize work to manage financial, operational and reputational risk.
• The candidate will be required to be a strong and clear communicator on email, the telephone and in person. The ability to liaise with internal and external customers of varying levels is important.