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We are currently seeking an experienced professional to join our team in the role of Director Custody Product Safekeeping and Settlements Design
Business: Global Banking & Markets
Securities Services (SSV) provides robust and reliable solutions that enhance performance and mitigate risk, today and in the future. Working with institutional investors, banks, insurance companies, governments and multinational corporations, Securities Services offers a range of fund administration, global custody and direct custody and clearing.
We are currently seeking an ambitious individual to be part of the leadership of our Custody Product Team, overseeing the modernization and transformation of our end-to-end Settlement and Safekeeping product offering across both Global Custody and Direct custody and clearing products. The role will be responsible for defining and commercializing our Custody Product services, primarily but not limited the provision of our core offering under settlements and safekeeping, driving efficiency to reduce manual processes, and developing scalable solution to address evolving client requirements. The role will also support managing the compliance and implementation of various market developments and changes and its impact to the custody product across our global network. This will require engaging externally with regulators, industry forums and subject matter experts as well as managing internally within Operations, Cross-product teams and client facing teams.
As a senior leader they need to be able to operate at an executive level, across regions and global businesses. They will also work closely with SSV leadership & senior stakeholders to ensure alignment with the wider change portfolio and Group Strategy, Values and Behaviours.
Principal responsibilities:
- Lead the Settlements and Safekeeping product team in developing and executing an end-to-end post-trade settlement model globally across our custody footprint. This shall include but not limited the development of a standard offering to support contractual settlement, agency and third-party lending, collateral and pledge custody models, and custody of private assets or physical certificates. This would also include leading and developing market insights for the growing Custody business and evolving market settlement frameworks due to shortening settlement cycles, enhanced market connectivity and introduction of new product offering such as fractional settlement.
- Manage the Settlement risk of the Custody business, helping reduce operational risk through appropriate policies, process and governance and the implementation of appropriate tools to automate any manual processing.
- Work with clients and other product teams to deliver solutions to clients, supporting their investment strategies and ambitions, allowing them to make informed decisions on the custody of their assets and providing them the necessary post-trade information / tools to facilitate their processes.
- Represent HSBC in industry forums and/or events.
- Lead the ideation and production of product collateral insight documentation/thought leadership with involvement from product leads, client services and sales & business development in order to add greater value to clients and market prospects.
- Work closely with COO (Chief Operating Officer), Operational Teams, IT and relevant functional teams to support the shape of development & delivery. This includes engagement with other product teams within the wider MSS in order to co-create efficiencies or new product offerings.
- Bring a data & digital lens to product development and enhancements, and actively seek to delight our clients in the custody tax offering provided.
- Structure & Maintain service level documents with clients and internal stakeholders to ensure that the service proposition is competitive and up to date.
- Provide support as needed in responding to RFPs, client presentations and meetings.
- Set out product roadmap for Settlements and Safekeeping to determine 3–5-year developments. This would include managing the annual Change the Bank budget and change book of work to cater for ongoing market changes, client requirements, optimization, and transformation initiatives.
- Adopt the product management & development methodology and support outputs from the phases of initiation, definition, analysis, design, business case and post product live maintenance management.
Management of Risk:
- Is aware of the Operational Risk scenario associated with the role and proactively acts in a manner that takes account of operational and reputational risk considerations in relation to Custody processes.
Observation of Internal Controls:
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Understands, follows, and demonstrates 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.
