GMO Payments and Financial Crime Risk Mitigation

Job description

Role Title: GMO Payments and Financial Crime Risk Mitigation
Business: GBM
New or Existing Role? New
Grade: GCB4

Role Purpose
Background
· The Payments Risk Mitigation team is a new function being created within Global Markets Operations (GMO) to take ownership for the strategy-through-to-delivery of Payments risk mitigation activities across GMO. Currently GMO payments are managed on a silo basis within the asset class teams with no overall management of payment risk across GMO to drive strategy, reduce risk and improve settlement certainty / client outcomes. The function will be responsible for all aspects of payments risk mitigation across GMO, from designing the strategy for Markets' Payments, through to securing investment to improve and enhance payment capabilities, to management of ongoing HOST services/SLAs and providing command and control for incidents on a follow the sun basis. The team is organised across 4 pillars – Risk mitigation, Client fulfilment, Strategy / Change, HOST Service Performance). The desired business outcome is to reduce payments risks on an aggregate, cross-asset basis, whilst driving enhanced client experience and building-up sustained in-house payment expertise and intellectual capital. The role will initially cover GMO but could extend across GBM.

Role
· This is a key role responsible for pro-actively monitoring and improving the overall health of Markets Ops payment flows including GMO's utilisation of HOST payment services. The role will look to combine the analysis of data with ‘change' project initiatives to ensure that alignment of issue, risk and benefit is made.
· The incumbent will work with CCO and the Asset classes Ops teams to cultivate and reinforce positive risk culture and client service ethos relative to payments, driving behaviours and shaping outcomes across GMO that contribute to a seamless and low-risk payments experience for GMO's clients and business partners.

Responsibilities to include:
· Contribute to the build-out of the Payments Risk function in line with the attached team activities, accountable functions and Org design.
· Provide support to the Global Payments Risk Lead to develop an operating model for the team, including designing supporting processes, interfaces, frameworks, MI and governance, plus developing an appropriate network of key internal and external stakeholders in order to influence overall payments strategy and risk.
· Translate global Payments Risk team reviews, policies and initiatives into relevant deliverables and work with regional and asset class leads to drive implementation and contribute to GMO strategic objectives.
· Act as liaison between the GMO and key stakeholders and service providers, including FCC, N2MI, GLCM, Payments Services Board, Technology and HOST.
· Provide regular status updates to GMO asset class functions on highlighted issues, risks and change requests.
· Provide regular feedback to Regional Leads on Group wide programmes e.g. NPIP, ISO 20022
· Respond to ad-hoc business issues, providing statement of business impact, root cause analysis and recommended solutions.
· Keep abreast of HSBC Group and Industry initiatives relating to payments and socialise relevant information, impacts and leverage opportunities across GMO.
· Provide input and governance in a central assurance capacity to ensure Payment Transparency requirements are embed in ongoing BAU compliance in the respective GMO asset class functions.
· Manage ongoing activities to mitigate financial crime risk within Markets' payment flows.
· Provide advice and direction to asset class functions on best market practice.
· Documentation of process flow and operational procedures.

Key Accountabilities

Impact on Business

Payments Risk Mitigation
· Provide input into the development, production and analysis of cross-asset payments MI and risk analytics.
· Support the development and setting of payments-related Standards and Policies across asset class / location (in conjunction with CCO).
· Implement thematic payment reviews, remediation and tracking e.g. duplicate / manual payments
· Work across the Payments Risk team to implement a formal, repeatable, follow the sun model to manage major payment incidents within GMO including follow-up actions.
· Deliver central monitoring and assurance over Global Standards / Payment transparency ongoing compliance

Client fulfilment
· Work with the asset classes / OCRM to measure GMO client payment performance and risk reduction
· Lead Client Experience improvement in response to Voice of the Client (VoC) input and insight.
· Develop a capability to implement Real-time Payment Status Tracking & Tracing for clients.
· Establish a programme to improve the WOLF Client Experience.


Payments Strategy & Change

· Document and manage Payments strategy for GMO
· Create and run the GMO Payments Design Authority to identify and drive payments-related change and improvements in infrastructure / connectivity / resilience (Execution of change by GMO central change / IT teams)
· Run the AOP process for Payments and Financial Crime change and manage and prioritise the cross-asset change book of work
· Ensure GMO is represented at the Payment Service Board and that GMO's payment priorities are accommodated
· Keep abreast of and share relevant SWIFT and Industry updates across GMO and identify collective opportunities to leverage these.
· Provide analytical support as the intersection between Cash Management and the Asset classes Ops areas to reduce impact from failed payment processing.

HOST Service Performance
· Define and manage the service and performance governance framework for GMO's utilisation of HOST IT infrastructure and service provision
· Manage monthly HOST SLA review across the dimensions of Quality, Risk and Cost/billing including service credits
· Ensure GMO's cost allocations from HOST Payment Services and GLCM are transparent, measured and in line with AOP, and ultimately represent value for money
· Ensure HOST service issues in particular where HOST manages RTGS clearing, are understood, escalated and remediated

Major Challenges
· The nature of the role requires that the incumbent will need to maintain a wide group of Payments stakeholders, not only within Markets Operations, but also with HOST Service Delivery, N2MI, GLCM, FCC, Front Office and associated infrastructure areas.
· He/she will also need to work in partnership with the wider Cash Services/CCO management team, to champion cross-asset control improvements, enforce thematic improvements and drive ongoing process improvements in payments, leading to a resultant reduction in operational losses in line with the GMO 2020 strategy and 40% reduction in loss incident goal.
· The role also requires the incumbent to design and drive initiatives to ensure compliance with new regulations – for example in FATF Regulatory developments and AML/KYC policies.

Role Context
· The Payments Risk & FCRM team will comprise 5 FTEs based across the UK and the regional Hubs

Role Dimensions
· GMO payments represent approx. daily total of circa $100 billion + per day
· Daily volume of external payments across all asset classes circa 20,000

Desired profile

Qualifications :

Knowledge & Experience / Qualifications

·  Experience in delivering detailed analysis of complex business process flow
·  Project management experience in delivering multi-disciplined projects for Operations functions
·  Ideally, end to end experience in Markets Operations products and flows including payments (ideally 5 years +)
·  Experience / potential in working a multi-discipline function on a matrix global and regional basis
·  Basic knowledge of SWIFT and HSBC payments landscapes and flows including GPS, GMG etc, an advantage
·  Proactive communicator with demonstrable track record in managing stakeholders at a senior level.
·  Ability to establish and maintain good relationship across multiple business lines, service providers, asset classes and GMO regional and operational hubs
·  Experience in a client-facing role an advantage

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We want everyone to be able to fulfil their potential which is why we provide a range of flexible working arrangements and family friendly policies.

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