Trade Mid Office Manager

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC, we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share

The Assistance vice president, Global Trade Solutions Operations (GTS), will provide specialized trade finance operations processing of Trade/Commercial Letter of credit transactions

The job holder will handle high priority Trade/ Commercial Letter of credit related transactions primarily for Corporate and Institutional Banking (CIB) customers. As part of processing, the job holder is expected to develop and maintain strong working relationships with internal and external stakeholders. Provide support and guidance to the department on areas of improvement/concerns with regard to Financial Crime Compliance and Regulatory controls. Act as a Services champion to ensure that key objectives are prioritized appropriately within CIB. Ensure positive client experiences through support, trade advice and best practices in relation to GTS transactions. Ensure that GTS Services is responsive to the requirements and expectations of Global Businesses. Manage processes, infrastructure and resources needed to deliver agreed team plans and targets, identifying and implementing improvements and collaborating with colleagues to maximize end to end integration, effectiveness and efficiency. Maintain a robust and efficient control environment to ensure good operational, financial and project management and compliance with HSBC policy and procedures, together with early identification and effective resolution or escalation of issues that arise

Here’s what you can expect:
The key responsibilities will include day-to-day processing of Trade/ commercial Letter of credit transactions. This will include:

• Process letter of credit issuance, amendment, advising, confirmation, and transfer LC
• Scrutinise/examine import and export documents to ensure compliant documents are presented, or raise any discrepancies and highlight any issues or shortcomings
• Record import and export bills, discount and process payments in the system
• Handle trade loan disbursement and repayment
• Perform internal account reconciliation relating to core trade transactions
• Review various exception reports to ensure exceptions are understood and resolved
• Proactively respond to queries related to LC processing from various stakeholders

Qualifications:

• In-depth knowledge of industry standards related to Global Trade and Receivables Finance (GTRF) products and services
• Experience in checking Import and Export letter of credit documents subject to specific delegated authority limits
• Experience importing LC issuance and Export LC advising subject to specific delegated authorized limits
• Experience with leadership and governance responsibilities, assisting the line manager in managing core trade transactions quality controls and reviews, addressing errors and arranging training for the onshore and offshore teams
• Experience and knowledge of core trade and trade loan products, supporting product team developments and delivering products and solutions
• Experience in reviewing new and existing GTRF transaction operating procedures and practices
• Experience with pertinent mainframe systems and software packages for core trade transactions process systems such as GTRF user system, HTS, HFE, WDM, GMG, and FileNet
• Experience with US regulatory requirements related to Anti-Money Laundering
• Knowledge and experience in handling Anti-boycott transactions
• Experience in evaluating and handling transactions against applicable policies and procedures by assessing the quality of decisions and documentation in terms of financial crime risk and global sanction policy
• Experience with commercial or standby letters of credit, trade services, trade finance, UCP600, or ISP98  
• Certified Documentary Credit Specialist (CDCS) is required

As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!

The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.