Assistant Vice President - FEMA Desk

Some careers open more doors than others. 

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

Business Descriptor:

HSBC Corporate and Institutional Banking is a markets-led, financing-focused business that provides investment and financial solutions. Through our international network, we connect emerging and mature markets, covering key growth areas. We partner with our corporate, government and institutional clients to help them achieve consistent, long-term performance. Our products and services include advisory, financing, prime services, research and analysis, securities services, trading and sales and transaction banking.

We are currently seeking an experienced professional to join the  GCOO FEMA team.

Job Introduction:

• Manage and control daily operations and administration of the regulatory reporting team (which includes timely processing of all capital account queries and transactions- ECB/ODI/FDI/BOLOPO etc , regulatory filings, RBI liaison, customer and business engagement etc.) in order to achieve a high level of efficiency and customer service, which would help attain strategic and operating objectives of the Bank.

• Monitor performance of external vendors and operating staff in the unit
• Ensure standardization of processes. Process notes relating to Securities Services processes carried out at Regulatory Reporting team to be updated on a regular basis.
• Regulatory reporting activities as per RBI and other regulators requirements which include but not limited to approving BU registration, DI filing, INVI filing, FCTRS filing, reviewing of documents for purchase of securities from Non-Resident individual/non-individual where remittance is not supported at Securities Services and happens through DBS (Payment Processing Team), to provide go ahead to DBS team to make the payment in case the documents are in order to support the transaction, to review the documents (if required by the client) prior to uploading on FIRMS portal) and then approve, to raise discrepancy back to CSV if not in order.
• Ensure an effective Business Continuity plan is in place for the unit and completion of BC exercise in timely manner.
• Ensure day to day processes are run as per defined procedure notes and policies.

• Contribute in all performance parameters which include cost management, key process performance indicators (TAT, accuracy etc.), customer satisfaction levels etc.
• Maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
• Implement the group compliance policy as applicable to his role. Should be aware of the Operational Risk scenarios associated with their role, and to ensure that all actions during their employment with HSBC, take account of the likelihood of operational risk occurring.

Principal Responsibilities:

• Manage and control daily operations and administration of the regulatory reporting team (which includes timely processing of all capital account queries and transactions- ECB/ODI/FDI/BOLOPO etc , regulatory filings, RBI liaison, customer and business engagement etc.) in order to achieve a high level of efficiency and customer service, which would help attain strategic and operating objectives of the Bank.

• Monitor performance of external vendors and operating staff in the unit
• Ensure standardization of processes. Process notes to be updated on a regular basis.
• Regulatory reporting activities as per RBI and other regulators requirements.
• Ensure an effective Business Continuity plan is in place for the unit and completion of BC exercise in timely manner.
• Ensure day to day processes are run as per defined procedure notes and policies.

• Contribute in all performance parameters which include cost management, key process performance indicators (TAT, accuracy etc.), customer satisfaction levels etc.
• Maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
• Implement the group compliance policy as applicable to his role. Should be aware of the Operational Risk scenarios associated with their role, and to ensure that all actions during their employment with HSBC, take account of the likelihood of operational risk occurring.
• Regulatory reporting activities as per RBI and other regulators requirements which include but not limited to approving BU registration, DI filing, INVI filing, FCTRS filing, reviewing of documents for purchase of securities from Non-Resident individual/non-individual where remittance is not supported at Securities Services and happens through DBS (Payment Processing Team), to provide go ahead to DBS team to make the payment in case the documents are in order to support the transaction, to review the documents (if required by the client) prior to uploading on FIRMS portal) and then approve, to raise discrepancy back to CSV if not in order

Role Requirements / Education Qualifications / Certifications / Experience:

This role requires 1-3 years of overall Banking exposure with 1 year of specialized experience in managing Capital Account Transactions like ECB/ODI/FDI/BOLOPO. Skills required for success are:

• Fema knowledge

• People and Stakeholders Management
• Strong Communication and decision making ability
• Thinking and Problem solving skills
• Customer centric approach to support business growth 

Qualifications 

Minimum Graduation or as required for the role, whichever is higher.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment.

Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by The Hongkong and Shanghai Banking Corporation Limited, India