Common Depositary Manager

Job description

Role Title: Common Depositary Manager

Business: Operations

New or Existing Role? Existing

Grade: GCB5

Role Purpose

· To manage the oversight of the Common Depository function in London and full daily management of the related physical custody assets maintaining and implementing controls in line with CASS regulations, driving improvements and standards of excellence. Support the New Issues/Rate Fix and Common Depository teams located within offshore centres and act as an SME with regards to the closing flows and note types issued. Keep abreast of regulatory changes in relation to the role to ensure procedures remain current. Ensure daily management oversight of printing/filing/removal of global notes into/from the Vault is maintained in accordance with procedure and CASS regulations. Ensure key reporting is carried out and all regulatory impacts considered. . Processing of corporate action messages/Notices for securities where we are appointed as Common Depositary/Common Service Provider/Common Safe keeper.. Assist/cover the ICSD Relationship Manager in in the maintenance and building of client relationships understanding the downstream impacts. The role involves daily liaison with various teams in the Global Service Centre in Malaysia and Kolkata providing SME support, multiple stakeholder such as Issuers, Agents, Transaction Managers, Business Development and attending client/closing meetings.

Key Accountabilities

Impact on Business

· Ensure CASS Compliance and manage both Internal and External Audits/queries on securities held in Safe-Custody through to resolution.
· Transfer of value paper between the new issues team and the vault on a daily basis.Ensure all new issuances are represented accurately in paper form and that the vault where they are stored is maintained to a high level of accuracy in line with CASS requirements.
· Review and understand Corporate Action event notices (events including but not limited to Conversions, Exchanges, Unwinds, Consent Solicitations, Note holder meetings, Events of Default, Credit Events, ELN Redemptions) and distribute these appropriately to transaction parties including the Clearing Systems.
· Processing of new PUT notifications within established deadlines and in accordance with deal documentation.
· Provide support, guidance and assistance to the Common Depositary, New Issues, Rate Fix teams in the offshore Global Service Centre building relationships in order to collectively meet our obligations.
· Support the New Issues & Common DepositaryICSD Relationship Manager with cover, client meetings, projects and in managing the day to day work for the team.
· Identify system/process enhancements to achieve and improve on contractual ICSD benchmarks.
· Establish and maintain operational relationships with peer group client contacts and internal stakeholders such as Transaction Managers, Client Service Managers, Business Development, Compliance, Risk to ensure strong and efficient processes and open, honest dialogue.
· Ensure that all activities on the desk are completed in a timely and effective manner, ensuring that time critical deadlines are achieved.
· Carry out management control checks on all daily work and drive and improve on the required levels of controls/procedures.
· Mobilise and drive the team to excel.

Role Dimensions

· Common Depositary portfolio size is approximately US $ 45550bn.
· Paying Agency portfolio size if approximately US $ 50500bn
· Custody portfolio size of approximately US $ 100bn
· Circa 11,000 Global notes held in custody in our vault on behalf of Euroclear and Clearstream to whom we act as CD/CSK with approximate value of US $4550bn.

Management of Risk

· Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations
· Ensuring compliance with all relevant regulatory, legal and Group requirements.
· Demonstrate CASS understanding

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.
· Ensuring compliance with all relevant regulatory, legal and Group requirements.

Desired profile

·  2 years minimum experience in the Corporate Trust business or similar (preferably Common Depositary/Corporate Actions) required.
·  Proven knowledge of regulations covering the protection of client assets and strong, demonstrable risk awareness
·  Strong communicator with excellent relationship building skills for internal and external clients
·  Experience of managing relationships with offshore service centres
·  Understanding of closing flows and legal documentation governing products and services supported desirable.
·  High level of accuracy and vigilance a must.
·  Strong ability to multi-task and manage frequently changing priorities.
·  Drives improvements and embraces change executing at pace.
·  People management desirable but not essential.
·  Desire to progress/develop.
·  Audit background an advantage



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 on-going 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

We are an equal opportunity employer and are committed to creating a diverse environment.