BA Middle Office Onboarding

Job description

Role Title: Business Analyst – Middle Office Client Onboarding,
Business : HSBC Securities Services, Fund Services
New or Existing Role : Replacement
Immediate Supervisor : Middle Office Onboarding Manager, Middle-Office, PC&S, Fund Services
Location : Edinburgh or Glasgow
Grade: 5

Role Purpose :
The Middle-Office Programme exists to build and implement a single operating and technology infrastructure to support the provision of services to Fund Services clients, globally.

The purpose of this role is to manage the onboarding of clients onto the new strategic architecture, either in the form of new client mandates or existing clients moving off legacy architecture. Based in UK, the role will focus on European clients, with migration activity to support onboarding clients on to TLM being one of the initial priorities.

The role will also include assisting the set up of a fully documented, structured, efficient and repeatable process for onboarding clients to the Middle-Office strategic architecture.

Key Accountabilities :
Reporting to the Middle Office Onboarding Manager (who is based in London), this role will require the successful applicant to coordinate activities across the MO Programme in order to ensure a client's trades, positions and data are migrated onto the strategic architecture in time for a broader client or fund migration date.

Client migrations can require utilisation of any combination of the MO architecture, so the role will need to work closely with all of the component MO project teams, specifically:

·  Trade Processing
·  Derivative Processing
·  OTC Derivative Pricing
·  Corporate Actions
·  Reconciliations
·  Middle-Office Data Management
·  Cash Allocation & Unit Fund Dealing
·  Performance & Risk Analytics

The role will also need to work effectively with Migration teams/functions representing other business lines such as A&V, Transfer Agency and Custody.

As part of the overall effort of migrating a client or fund onto the strategic architecture the role will require the management and coordination of the following client-specific activities:

·  Migration planning, including clear communication both internally and with the client of required activities leading up to the actual migration.
·  All joint testing (ie with the client) – SIT [where required], and UAT.
·  Execution of any migration dry-runs
·  Preparation and management of the run-book covering all activities over the actual migration date/weekend.

Depending on the level and type of services required, these migrations can be highly complex and will need project management skills. The required skills and responsibilities will include some or all of the following:

Planning
·  Define detailed business and external (client or market determined) driven milestones and deliverables
·  RBPM (Risk Based Project Management methodology) documentation creation and sign off
·  Business resource plan
·  Business risk and issue management
·  Change Control sign-off
·  UAT, user training and documentation planning
·  Roll-out planning

Requirements Management
·  Functional requirement oversight
·  Software vendor functional evaluation/PoC
·  Requirements workshop facilitation
·  Data requirements including retention
·  Reporting requirements
·  Operational service level requirements (e.g. system availability)
·  User profiles and security schema
·  Requirements sign off & prioritisation

Resource Management
·  Oversee the implementation of the business project on a daily basis with regard time, budget and quality
·  Coordination of global business analysts, SMEs and offshore project resources
·  Business organisation change agreement
·  User training – systems and procedures Vendor and Outsourced

Communication
·  Weekly and monthly status reporting
·  Market contact & co-ordination (e.g. client notification and involvement in testing if appropriate)
·  External e.g. client and regulator liaison and communication if appropriate
·  Project Working Group and Programme Working Group participations
·  Meeting minutes and actions from Project Working Groups
·  Business level project communication and stakeholder management

Testing and Development
·  Business and data rules
·  Test cases creation
·  Regression test pack (for off-shore execution)
·  Initial quality assurance of solutions delivered into UAT
·  Run business testing
·  Test security e.g. user profiles & privileges
·  Test migration and fall-back from a business resumption perspective
·  User profiles and security schema

Migration and Live Running
·  Risk analysis for business migration and liaison with Business Risk and Control Management (BRCM)
·  Management of business and process migration
·  Success criteria checklist and issues management for live implementation
·  User sign-off – including satisfactory new procedures, user training and documentation
·  External party advice of live cut-over
·  Coordination and management of (weekend) system release implementations

Post implementation
·  Central point of coordination and management for all post implementation issues and issues management
·  Post implementation review questionnaire and associated documentation

Compliance (see also control below)
·  Ensure that requirements emanating from Group Compliance Policy are built into any project from inception and that the project team complies with the above at all times.
·  Keep up to date with compliance rules and regulations affecting HSBC Group and Fund Services and identify any project-related compliance issues as soon as practical.
·  Create a strong communication channel with the compliance, audit and risk functions..

Management of Risk:
Responsible for the continual assessment of operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructuring and the impact of new technology.

Demonstrates compliance with HSBC Bank plc Group standards, manuals and policies and adheres to the defined work practices, internal controls and risk management standards associated with the role.

Observation of Internal Controls :
Maintains HSBC internal control standards, including the 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 activities associated with the role, specifically HSBC Bank plc internal controls and compliance policies and manuals.

Desired profile

Knowledge & Experience / Qualifications :
·  Extensive experience in the Finance and Banking industry environment (e.g, fund administrator, brokerage house, custodian etc.) with business project management experience preferable. Knowledge of IT infrastructure and software development is useful but not essential.
·  The role will have a high business content and will naturally involve considerable exposure to global business users as well as IT analysts so the Middle Office onboarding BA must have pertinent Middle-Office product knowledge. In addition, the role will need to work with any Vendor's project resources, HSBC IT support technicians/project personnel as per assigned projects
·  Extensive knowledge of the onboarding process for reconcilations and the TLM system are required.
·  Strong inter-personal and communication skills; must be capable of producing clear, unambiguous status reports, writing detailed reports, minutes and actions, making presentations to internal audiences, and interacting positively with IT and business management, users, vendors and HSS Group PMO
·  Must be able to work independently. Must have strong process re-engineering and problem solving skills, and be self-directed.
·  Must be familiar with fundamental networking/distributed computing environment concepts and configuration, i.e. have a reasonable grasp of the underlying technology supporting the business.
·  Ability to build and maintain relationships with colleagues, clients and third parties.
·  Ability to plan and organise workload to meet deadlines, taking into account relative priorities
·  Proficiency in the creation of critical path project plans, workflow diagrams, production of functional specifications, and the development/execution of detailed test plans is essential.
·  Advanced skills in use of MS Project, Visio and MS Office software is expected.

Within HSBC certain roles are designated as Enhanced Vetting Roles. For these roles, all internal and external applicants are required (subject to local laws), to pass satisfactorily a series of additional checks both as part of the application process and, if successfully recruited into the Enhanced Vetting role, on an ongoing basis. The Group reserves its position with regard to any steps which it may take in relation to any material adverse findings which arise either when the checks are first carried out as part of this recruitment exercise, and/or if relevant, on an ongoing basis.
This role has been designated as an Enhanced Vetting Role.
For more information about the relevant additional checks for this role please contact the hiring manager.