Role Title: Control Clerk
New or Existing Role: New
· Undertake the daily ‘Day 4' shortfall determination to ensure that we do not fail our regulatory duties. Working with colleagues within Service Delivery & Treasury to ensure thorough & accurate audit trails are maintained within the reconciliation systems to ensure correct reporting. To challenge colleagues if ineffective audit trails are maintained and/or investigate any breaks as necessary.
· Daily Tri partite arrangement Failed Trades Reporting. Produce reports to ensure that sufficient shortfall cover is in place for possible redemptions impacted by failed purchase trades.
· Monthly - agree the financial figures with Global Markets and then apportion an collect the revenue from other areas of the HSS and /or the Bank
· Monthly Tri partite arrangement Failed Trades Reporting. Produce reports where purchases & redemption trades have taken place in same month, on same security lines, to ensure that no short selling of stock has been undertaken by the underlying clients.
· Complete the six monthly stock in liquidation reconciliations, reconciling GCS to Administrators / Liquidators records.
· Support the production of the monthly Service Delivery Document
· Act as cover for the dormant account process.
Impact on Business
· The accuracy and production of 4 Day Shortfall review and the PBGB failed trade reports, provides us with comforts that we do not breach any FCA CASS Rules.
· The role holder is expected to assist & cover the Ops Control & CASS Reporting Manager with respect to our CASS obligations
Customers / Stakeholders
· To develop and maintain strong relationships within Service Delivery, Network Management, Global Data Services and PBGB
Leadership & Teamwork
· Build internal relationships with all stakeholders
Operational Effectiveness & Control
· Ensure governance process is in place
· To maintain HSBC internal control standards including the timely implementation of audit points
· Maintain the discipline required under HSBC's policies and procedures.
· Effectively prioritise activities (and manage expectations) given competing demands from multiple key stakeholders
· Continuously adopt a pragmatic, flexible and responsive approach to meet quality and time standards
· Maintain constructive and supportive working relationships with stakeholders
· Role Context
· Located HSBC's London's office, within the Service Delivery team, the role provides regulatory reporting and various control activities
· The role will operate within the bounds of the HSS strategic plan
· Contribute to the effective management and development of the Service Delivery team
· Understand, follow and demonstrate compliance with all relevant international and external rules, regulations and procedures that apply to the conduct of the business in which you are involved, specifically Internal Controls and any Compliance policy including, inter alias, the Group Compliance policy.
· Maintain HSBC Internal Control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
· Be aware of the Operational Risk scenario associated with the role and act in a manner that takes account of operational risk considerations.
· This role is critical in ensuring our internal controls around Reconciliation Shortfalls are robust to comply with FCA guidance rules.
Management of Risk
· The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation. This will be achieved by consistently displaying the behaviours required to support the Best Place to Bank principles of Make Better Products, Sell Them Properly and Keep Them Sold.
· The jobholder will also continually reassess the 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 restructurings, and the impact of new technology.
· This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
· Also by addressing any areas of concern in conjunction with line management and/or the appropriate department
Observation of Internal Controls
· The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
· The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance' embraces all relevant financial services laws, rules and codes with which the business has to comply.
· This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.