Middle Office Funding Desk Support
1 month ago
-Job description
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.
Responsible for managing the trade capture workflow in the primary trading systems across Repo, Fixed Income and related products. Trade capture responsibilities include, but are not limited to, performing initial trade bookings and amendments in the trading systems, resolving trade discrepancies, facilitating trade life cycle events and identification and resolution of variations in risk within primary trading system. In addition, the role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner. As a result, the role is an escalation point for the various internal teams and external clients on transaction related issues. Cross training with team members supporting other products will be required for coverage purposes.
As our Middle Office Desk Support Specialist you will:
- Monitor trade capture workflow in the primary trading systems
- Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trading system, e.g., booking discrepancies
- Monitor the forecast for short and long term funding in USD
- Reconcile projections vs cash positons, general ledgers and balance sheet of trader’s portfolios
- Adjust for any intraday movement, back-valued trades, trades from systems that do not STP
- Send start of day projections after reconciliation is completed
- Ensure each book is flat and EOD funding ticket is booked for each desk and legal entity
- Send EOD reporting once funding is complete
- Ensure internal risk positions are appropriately reflected to mitigate any risk to the firm’s capital
- Primary point of contact for the Front Office, IT, compliance, audit and Operations on matters of significance
- Maintain any referential data, reports, documentation of controls and procedures
- Deliver high priority client service to meet client and internal expectations which directly affects the customer’s perception of HSBC
- Be responsible for global connectivity and communication with global counterparts to ensure consistency and alignment to target operating models within the Middle Office
Decision-Making Responsibility:
- Identify potential financial risk to the bank and ensure proper resolution is achieved within the bank’s guidelines
- Escalate as needed, when necessary to whom necessary any issues that may cause financial loss to the bank or that could affect client relationships
- When making decisions regarding cost, demonstrate a commercial mind-set with a focus on value for money
- Articulate cost benefits clearly and provide transparency regarding actual savings.
For this role, HSBC targets a pay range between $91,100.00 and $130,000.00.
At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.
Requirements
You´ll likely have the following qualifications to succeed in this role:
- Ability to operate autonomously without direct supervision
- Ability to quickly analyze and make decisions in the event of a problem
- Ability to quickly grasp new industry practices and create/document new processes
- Relevant industry product knowledge
- Proactive thought leadership to identify and deliver process improvements and efficiencies
- Seasoned written and verbal communication skills
- Strong organizational skills and ability to effectively prioritize
- Ability to manage a network of diverse stakeholders in person and remotely.
- Knowledge of financial processing systems and accounting
- Understanding of the “Best Practices” and back-to-front product flow to manage Operational Risk
- Minimum of a BA/BS degree in financial or related field, or related experience
- Management of Risk (Operational Risk / FIM requirements)
- Display understanding of and adherence to internal controls as well as relevant regulatory guidelines and controls and promote the awareness of the same
- Awareness of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations
- Ensure compliance with operational risk controls in accordance with internal and/or regulatory standards and policies; o
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