Manager Operations

Why join us?

Some careers grow faster than others. If you’re looking for a role where you can broaden your impact, build strong partnerships, and keep learning, HSBC is a great place to take the next step.

Collateral Services within Market Operations plays a key role in supporting the bank’s Markets business by helping manage risk and deliver consistent client experience through strong operational discipline, accuracy, and well-designed controls. You’ll be joining a global team that works closely with colleagues across the front office, risk, finance and legal to solve problems, improve processes, and deliver outcomes that matter.

We are currently seeking a high caliber professional to join our team as VP – Collateral Management.

The Opportunity: 

• Collateral and Risk team is responsible for managing and mitigating various types of financial risks associated with collateralized transactions and financial instruments. The team oversees collateral related activities which involve the use of assets as security to minimize credit risk. The team ensures margin requirements are correctly enforced and that the appropriate collateral is available and properly utilized in transactions in margin lending, OTC derivatives and secured loans.
• Manager Operations is responsible for overseeing the end-to-end Collateral Management operations, ensuring timely and accurate processing, compliance with internal policies and regulatory requirements. The role also involves leading, coaching, and developing a team of operations to drive efficiency, accuracy and high performance.

The role-holder shall be expected to:

• The Role Holder needs to deftly balance between being a Technical Expert and a Leader / Manager to succeed in this role.
• The Role Holder is expected to completely understand the Operating Model and align the team, accordingly, engage effectively with colleagues across businesses and products, work collaboratively in a global context and proactively seek ways to improve current processes, present ideas and support the implementation of change.
• Supporting the daily running of the internal initial margin calculation process.
• Performing analysis and reporting of initial margin calculations to internal and external stakeholders, namely collateral, GMMO and industry regulators.
• Participating on the daily Crowdsourcing vote process.
• Reviewing and improving existing BAU process.

What you’ll do:

Function Management:

• Review, analyse and confirm root cause of margin call disputes, ensuring HSBC’s regulatory compliance and supporting strong credit risk management.
• Support portfolio reconciliation activities to ensure that HSBC complies with Dodd-Frank, EMIR,HKMA and other relevant regulatory requirements.
• Identify opportunities for process and system enhancements, and work with management, change and technology to implement them.
• Support governance framework through participating in and preparing management information for governance meetings with Front Office stakeholders.

Client / Customer Service:

• Maintain good working relationship with Clients and Internal Stakeholders.
• Provide expert advice and guidance to meet client needs and expectations.
• Ensure appropriate controls are in place to effectively manage queries.
• Ensure that any problem areas raised into the team are proactively identified and resolved.

Leadership & Teamwork: 

• Coordinating the daily Business as Usual (BAU) delivery.
• Liaising with all stakeholders.
• Ensuring completeness and quality assurance.
• Management of small team of junior colleagues (2-3 people) may be required.

Management of Risk:

• Ensure that current procedures and checklists meet the requirements of Audit, FIM, external regulators and Operations Risk and Control.
• Ensure daily complex exception reporting is completed within guidelines with any errors promptly rectified to maintain data integrity standards.
• Continually reassess the operational risks inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructures, and the impact of new technology.
• Avoid errors and where required perform root-cause analysis to avoid reoccurrence.

Observation of Internal Controls:

• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
• Understands, follows, and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.

What you will need to succeed in the role: 

Required Skills:

• Strong understanding of the Markets and Collateral management business.
• Good cross asset class understanding especially Interest Rate, Equity & Credit Derivatives, FX, Repos, SBL, structured products, etc.
• Knowledge of ISDA Credit Support documents.
• Sound understanding of collateral assets: cash, bonds, equity, letters of credit, etc.
• Aware of industry initiatives within the Collateral space (Margin Rules (IOSCO), Margin Booking and Allocation, CCPs, Basel, EMIR, Dodd Frank, etc).
• Experienced operations professional with significant exposure to managing offshore operations; ideally with a focus on Collateral processing but not exclusively.
• Exceptional leadership and management skills with the capability or history of managing staff.
• Ability to work in a virtual team environment with ability to support multiple functions and stakeholders.
• Hands on experience of formulating and executing on-shore and off-shore operating models.
• Strong awareness and appreciation of operations risk and control and exception management
• Ability to implement global initiatives and work as part of a global management team.
• Strong communication skills with the ability to manage local and international relationships across an organization.
• Attention to detail and a hands-on approach to management to work with local managers’ driving process change and improve efficiency and control.
• Strong budgetary experience.
• Familiar working knowledge of associated Collateral systems and technology.

Desired Skills:

• Collateral Management experience
• University Degree
• Relevant IT Skillset.
• Management position with exposure to business partners across multiple geographical locations.