Global Markets - FRB DOJ Business Analyst - FTC

Location:Greater London


Role Title: Global Markets - FRB DOJ Business Analyst - Fixed Term Contract
Location: London
Business: Control Office
GCB Grade: 4

Highlights of department:

The Control Office is a function that sites within the markets business within the Global Banking and Markets area of HSBC. The Control Office helps manage and control non-financial and new risks in the business, including but not limited to operational, conduct and product lifecycle risk

The successful candidate will be providing support to the Fed Order - DMA Programme which is a response to a ‘Cease and Desist’ Order from the U.S Federal reserve bank.

The successful candidate will be providing support to the Control Office in relation to the Fed Order - DMA Programme which is a response to a ‘Cease and Desist’ Order from the U.S Federal reserve bank. HSBC received a ‘Cease & Desist’ Order from the U.S. Federal Reserve Bank (FRB) on 29th Sept 2017

The role focusses on applying project management office skills to ensure that change disciplines and framework is in place are of an appropriate standard and operating effectively to ongoing implementations to remediate any gaps in our control framework and manage Sales and Trading Conduct Risk.

The role allows Markets to maintain our licence to operate with our client base, and ensure that we remain compliant whilst also factoring in the commercial impacts of the order and associated changes and ensuring that we continue to improve and enhance and strive for efficiencies

Responsible For:

Key Activities

  • Work with traders and infrastructure staff to design a set of controls as part of a Conduct Framework to address gaps identified during the assessment process;
  • Work with Sales and Trading stakeholders and the appropriate infrastructure teams, including Technology, to define an implementation plan and determine how the implementation can be optimized and/ or phased to put effective controls in place efficiently. Identify appropriate technology solutions to enhance control and determine where interim tactical solutions are required;
  • Execute on plans to ensure an appropriate level of risk mitigation across key conduct controls;
  • Draft clear and concise procedures which provide effective guidance for sales and trading and design training to communicate and reinforce procedure change.
  • Ensure all assessment, design and implementation activities engage an appropriate and complete set of stakeholders across relevant Fixed Income product groups and supporting infrastructure functions and are performed within the defined scope of the programme and support its objectives;
  • Support the Head of the FRB – DMA Order Programme in the creation of the appropriate programme communications for multiple levels of stakeholders;
  • Work with Head of FRB – DMA Order Programme to ensure adequate delivery plans are defined and agreed with the relevant stakeholders, ensuring planning is performed at the appropriate level such that all stakeholders involved in the production of deliverables are engaged and clearly understand how their contribution meets the objectives and benefits targeted by the wider programme;
  • Actively identify, assess and manage risks and issues that arise in defining a control framework for conflicts, ensuring they are monitored and managed appropriately to minimise impact on delivery, escalating to the Head of FRB – DMA Order, as required;
  • Provide status reporting including visibility on status against milestones, and transparency of risks and issues.