Middle Office Control Specialist

Hsbc New York , NY 10007

Posted 4 months ago

Responsible for handling, and enhancing the reconciliation processes for FX between Front Office and Back Office systems for post-trade and post-settlement. Create, monitor, and improve daily and ad-hoc reports for suspicious, non-compliant, and/or at- risk trading activity. Manage and enhance the Operations and Reconciliation activities for FX and IR Futures for HBUS. Act as a key point of contact for the various Operations teams for transaction issues. In addition, the role requires all trade issues to be monitored, escalated as necessary, and resolved in a timely and efficient manner.

Primary Responsibilities/Essential Functions:

  • Ensure details within operations systems reconcile to the front office risk system by monitoring back office exception queues and daily reconciliations.

  • Perform future reconciliations to ensure positions are accurate and brokerage fees are updated within systems

  • Coordinate the resolution of exceptions with internal stakeholders including front office staff, IT and product control

  • Run daily MI for control reporting to the front office and provide commentary on exceptions for further review.

  • Review and validate all relevant daily operations tasks are completed

  • Exercise superior client service through professional phone and email communications with internal (and external where applicable) clients

  • Supports all IT projects and new business objectives to ensure they are implemented on schedule with no issues.

  • Adheres strictly to compliance and operational risk controls in accordance with HSBC and regulatory standards, policies and practices; reports control weaknesses, compliance breaches and operational loss events. counterparts to ensure consistency and alignment to target operating models within the Middle Office

Decision-Making Responsibility:

  • Use judgment to act in the team's and the organization's best interest in all responsibilities and situations

  • Ability to apply judgment to operational situations to drive progress

  • Identify potential financial risk to the bank and ensure proper resolution is achieved within the bank's guidelines

  • Escalate to senior management (e.g. Front Office, Product Control, Compliance, and/or Operations) any issues that may cause financial loss to the bank or that could affect client relationships and provide awareness of potential issues

  • Demonstrate a commercial mind-set when decision making regarding costs with a focus on value for money. Articulate cost benefits clearly and provide transparency regarding actual savings.

Management of Risk

  • Display understanding of and adherence to internal controls as well as relevant regulatory guidelines and controls and promote the awareness of the same

  • Must be aware 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 or regulatory standards and policies; and optimize relations with regulators by addressing any issues

  • Promote an environment that supports diversity and reflects the HSBC brand and adheres to the values of the company

Observation of Internal Controls

  • Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year-end performance assessments

  • Each employee must understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy

  • Ability to quickly analyze and make decisions in the event of a problem

  • Ability to quickly grasp new industry practices

  • Product knowledge

  • Ability to learn new processes quickly

  • Lateral thinking to identify improvements in processes

  • Clear communication skills

  • Strong organizational skills and ability to effectively prioritize

  • 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


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Middle Office Control Specialist