Middle Office Funding Desk Support - New York, United States - HSBC

HSBC

Verified Company

New York, United States

3 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

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, backvalued 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 mindset 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 backtofront 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