Debt Capital Markets/Structured Note Settlement Operations Associate
At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our Jersey City, New Jersey office.
Associate will manage entire deal management process for lead managed issuance of Debt Capital Market Corporate bond and HSBC Structured Products new issue transactions. Directly supporting the Debt Capital Markets, Wealth Management Services and the New Issue Structured Products Business by preparing documentation for new issues, such as term sheets, confirmations, DTCC/ Euroclear/ Clearstream eligibility. Prepare transactions for primary settlement with investors. Monitor settlement of Domestic and International new issue debt securities, structured notes and CD settlements. Daily direct interaction with structurers, marketers, sales traders, internal/external legal, compliance and external utilities.
PRIMARY RESPONSIBILITIES/ESSENTIAL FUNCTIONS:
- Apply independent judgment and discretion when resolving trade discrepancies to ensure proper trade bookings are in place to match customer trade executions.
- Perform reconciliation of deal attributes between FWP document, SOPHIS and Global Calypso to ensure trigger events and dates are consistently recorded in all locations. Communicate any discrepancies to the relevant Front Office team to remediate.
- Serve as primary point of contact for the Debt Capital Markets, Wealth Management Sales and Structured Product trading desks on matters of significance related to new product issuance.
- Ensure proper and complete trade flow between various systems (Bloomberg. Impact, Sophis, Global Calypso and PIMS)
- Coordinate assignment of cusips to new on-program MMI issuances with global partners in CTLA Issuer Services team.
- Ensure TRACE set up reporting completed for all HSBC Lead Bill & Deliver New Issues.
- Coordinate term sheet documents between HSBC Front Office and legal counsel to ensure timely submission of documents to the Cusip bureau for security setup and clearance in DTCC.
- Liaise with Wealth Management Sales and StoneShot to ensure monthly file of new issuances is complete, and necessary documentation if filed for Wealth Management Customers to access security documentation.
- Produce deal folders including all relevant documentation for ad-hoc review and compliance with annual audit processes.
- Process/request processing for necessary cash wires related to free of payment settlement of new securities issuances. Ensure proper callback procedures are followed and documented if funds are being distributed to an external issuer.
- Deliver high client service levels to meet client and internal expectations which directly affects the customer's perception of HSBC.
- Ability to apply judgment to operational situations in a fast paced environment to drive progress
- 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.
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
- 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; optimizes relations with regulators by addressing inquiries
- Promote an environment that supports diversity and reflects the HSBC brand and adheres to the HSBC values
OBSERVATION OF INTERNAL CONTROLS
- Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with 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 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
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.