Role Title: Processor Trading Operations
New or Existing Role- Replacement
- The primary responsibility of the Debt New Issues team is to manage the operational issuance and settlement process for primary deals supporting the Debt Capital Markets (DCM) group and Treasury function. The team manages the primary closing activities across a wide number of markets and acts as a point of expertise for the global peer group. The New Issues team forms part of the Fixed Income Operations department, which is a function within Securities Operations. The aim of this role is to strengthen technical and market industry knowledge within the function and to drive a closer relationship with DCM. HSBC has a strong track record for primary debt issuance and this business forms a major revenue stream within HSBC.
- Key deliverables of this role include the following:
- Manage the day to day processing of the New Issues function and act as dedicated point of contact and resolution for all activity relating to primary issuance of Bonds, MTNs, CDs & CP.
- Manage the day to day activities of the issuance and settlement function relating to new issues, focusing on key risk indicators and priority clients.
- Work closely with DCM (includes Origination, Transaction Management & Syndicate Desk), clearing systems, common depositaries and IPAs to bring successful issues to market, protecting HSBC’s reputation as a major Debt Issuance firm
- Support the migration of the New Issue operations activities which align under the BREXIT program.
- Accountable for adherence to the FI Ops control framework including weekly/monthly risk and control reporting, internal /external audit requests and the monthly Post Trade Control Pack.
Initiate process improvements which include representing the New Issues team in working groups to deliver process re-engineering projects to streamline the operations process and reduce operating costs.
- Work closely with the off shore sites to provide assistance / support where required.
- Onshore team provides front office and sensitive client escalation points.
- Dedicated resource to mitigate risk associated with Primary Issuance
- -Improved controls for stock and cash breaks and failed trades associated to New Issues
- -Encourage and build a change process for identifying and reducing waste/inefficiencies with-in the teams processes
Customers / Stakeholders
- Line Management & Regional Operations Management
- DCM (includes Origination, Transaction Management, Syndicate Desk, MTN desk & Liability Management)
- Balance Sheet Management
- Corporate Trust & Loan Agency
- Derivative Notes Issuance
- External: Common Depositarys & other Lead Managers
Leadership & Teamwork
- To ensure that the area maintains high levels of control in all aspects of its work.
- Teamwork – Ensure that areas identified for improvement are communicated and re-currant issues are resolved at source.
Operational Effectiveness & Control
- Implementation of key controls and MI to manage operational risk on a daily basis, and consolidation of relevant MI data regionally & globally to manage business – including volumes, cash breaks, and failed trades.
- To understand the structure and mechanics to close New Issues and to understand the markets into which HSBC may choose to issue debt products.
- Understand all Debt Securities trade flows, the failure points and impact on new issue processing
- To understand the roles played by the DCM teams i.e. Origination, Transaction Management & Syndicate and also other key stakeholders such as Corporate Trust Loan Agency (CTLA).
- Support the BREXIT related migration activities of the New Issue Operations Team
- Ongoing risk management of functions performed by the New Issues team, maintaining a low operating risk model and ensuring appropriate escalation in place aligned to FIM and other firm policies. Ensure all key risk items are under investigation, cleared, narrated, and escalated as appropriate.
- Proactively support the team manager in achieving the team’s objectives and assist management in achieving overall business objectives.
- Initiate process improvements which include representing the NIs team in working groups to deliver process re-engineering projects to streamline the operations process and reduce operating risk and costs.
- All procedures updated and periodically reviewed as complete.
- Nurture and build strong relationships with DCM, Operations Management and FI Ops teams based in KL and Manila and other global regions
- Ongoing day to day support and guidance from immediate manager.
- Strong support and guidance from the Senior Management Team
- Strong working relationships with peers in Fixed Income Operations globally and other Operational Teams.
- Form strong working relationships with DCM Transaction Management Team, Origination, Syndicate Desk, and other Stakeholders / Customers.
- Responsible for the day to day processing of the New Issues business originated from London and Paris.
- Ensure appropriate daily sign off for own roles and responsibilities.
- The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
- Also by addressing any areas of concern in conjunction with line management and/or the appropriate department
Observation of Internal Controls
- 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.