Middle Office Desk Support Specalist
New York, NY

Job Description

Responsible for managing the trade capture workflow in the primary trading systems across Fixed Income, Derivatives, and FX 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.

Primary Responsibilities/Essential Functions:

* Coordinate the LCH/CME compression process via Trioptima using the Operations workflow tool
* Identify trades for bi-lateral compression to reduce risk weighted assets (RWA)
* Able to handle trade compressions across multiple currencies
* Monitor trade capture workflow in the primary trading systems
* Apply independent judgment and discretion when resolving trade discrepancies to ensure the firm's capital is accurately applied
* Based on product, system and proprietary knowledge, identify and resolve variations in risk in the primary trading system, e.g., booking discrepancies
* Primary point of contact for the Front Office and Operations on matters of significance
* Apply customer instructions to complete allocations to ensure credit risk is applied in a timely manner
* Ensure internal risk positions are appropriately reflected to mitigate any risk to the firm's capital
* Ensure initial trade bookings, trade amendments, client credit checks, allocations and novations occur in a timely manner
* Book trades within regulatory time frames to comply with HSBC, client, and market regulatory standards
* Initiate and map new customer trading accounts in all the relevant Front Office systems
* Deliver high priority client service to meet client and internal expectations which directly affects the customers perception of HSBC
* 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:

* 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

EEO/AA/Minorities/Women/Disability/Veterans