Job Description

Why join us?

HSBC provides internal and external clients with a Global Execution and Clearing Service across Listed Derivatives Exchanges and OTC CCP markets. The Clearing function provides a complete support infrastructure for clients to access Listed and OTC Cleared products ranging from supporting daily clearing processes, risk management and control functions through to final contract maturity and settlement. The function is globally integrated with a wide range of functions operating from Hong Kong, London, New York, Paris, Kuala Lumpur and Manila whom the successful candidate will have frequent interaction with.

HSBC Derivatives Clearing Services Operations (DCS) are seeking a resource to join the Kuala Lumpur based team for activities performed in Kuala Lumpur servicing Global DCS entities.

This is a key role for the continued development of the DCS business and will provide the role holder with opportunities to develop the Operational capabilities across the DCS operating centres.

The Opportunity:

• This role requires candidate to perform daily reconciliations covering both Exchange Traded Derivatives (ETD) & OTC Markets for Derivatives Clearing Services (DCS). Any discrepancies should be able to be investigated, timely escalation of any market risk issues and ownership of such issues through to resolution.
• The role holder will also be responsible for managing/supervising post trade support activities such as intersystem break investigation and reconciliation discrepancies.
• The role will have multiple interaction with different business stakeholders in order to support clearing function. Therefore, we need candidate to have strong written and verbal communication skills.
• Candidate should demonstrate a strong understanding of the futures products and trade flows and practices within all markets and also the regulatory and exchange responsibilities required for each.
• Able to deal with a very dynamic business where various factors will have an impact on work volumes, and how work is handled / processed. Nature of business is such that any error committed exposes the Group to risk of loss.

What you’ll do:

• Role holder required to perform processing responsibility such as intersystem break investigation and reconciliation discrepancy queries from other stakeholders
• Ensure to provide adequate support to minimise risks e.g. Stock/inter-system breaks
• Able to clearly identify control deficiencies and recommend ideas to the deficiencies
• Assisting supervisors to execute given control gap solutions
• Support Operation leads or counterparties to resolve break discrepancies
• Timely escalation when necessary for issues that may cause near misses or financial loss to the bank or that could affect client relationship
• Monitor and coordinate changes that impact the process i.e. UAT testing, Platform upgrades, upstream system changes, etc. Drive the initiative internally and provide regular update to management
• Involved in decision making process on changes that impacts BAU activities (chasers, escalation, reporting, compliance, audit, etc)
• To become an effective and primary escalation point for all reconciliation issues to the business unit and client service teams
• Provide support & share knowledge on markets, products, procedures and core operating platforms for team-members or new joiners

What you will need to succeed in the role:

• Experience in Exchange Traded Derivatives and Cleared OTC derivatives is required
• Possess a strong understanding of the operational processing environment within Clearing Broker for Listed and OTC Cleared Products
• Has sound understanding and formal qualification of basic Operations Accounting principles
• Attention to detail and a hands on approach to identify opportunities of process improvement
• Awareness and appreciation to operations risk and control and exception management
• Ability to implement initiatives and work as part of a team
• Follow formal escalation framework across all aspects of Operations, including day to day operational risks and systemic risks
• Demonstrate high level of diligence, accuracy and awareness of the operational and market control environment. The candidate must also demonstrate a continual appetite and ability to learn and develop both process knowledge and also personal skills.
• Strong communication skills with the ability to manage local and international relationships across the org

What additional skills will be good to have?

• Ideally 2+ years tenure within an Investment Banking Operations environment, exposure to reconciliations functions is essential
• Trade processing of Exchange Traded Derivatives at a broker or Investment Bank
• Exposure to XTP operating platform or similar product
• Understanding of Markets Operations is an added advantage
• Strong understanding of regulatory environment in the Listed Futures & Options and Cleared OTC business
• Able to work in a demanding and time sensitive environment
• Hands on experience of operations processing is an advantage
• Possess knowledge on MS Office and with good numerical and analytical
• Requires ability to creatively resolve issues arising on a day-to-day basis, with an overriding view of minimizing any loss arising.