Investment Controls Manager

Job description

Role Title: Investment Controls Manager

Business: Retail_Banking_and_Wealth_Mgmt

New or Existing Role? Replacement

Grade: GCB6

Role Purpose

·  The Investment Controls Manager is required to independently supervise and monitor the quality of Asset Management's investment accounts/funds with the aim of ensuring performance and quality in order to provide the required benefit for the client. Investment Controls Managers will interact heavily with compliance and performance teams.
·  The Investment Controls Manager is part of the team that is responsible for the risk and controls function within Portfolio Management. The team will provide the Discretionary Portfolio Management Team with robust exceptions reporting data and proactively identify and resolve issues. The team will be required to continually re-assess the risks inherent in the department, taking into account departmental restructuring, legal and regulatory requirements. The position covers all discretionary propositions where implementation is the responsibility of HSBC Globall Asset Management (UK) Ltd.
·  The Investment Controls Manager is required to maintain and deliver relevant department MI as well as identifying and rectifying any error originating within the department.

Key Accountabilities

Impact on the Business

·  The Portfolio Management Team based in Whiteley / Southampton is responsible for managing in excess of 20,000 private client and trust investment portfolios, containing a range of stocks and shares worth around £7 billion
·  The investment risk surrounding these models needs daily assessment to prevent errors and where they do occur rectify them rapidly
·  Any errors require a calculation of restitution within a timely manner in order to minimize the cost

Customers / Stakeholders

·  Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets
·  Any errors require a calculation of restitution within a timely manner in order to minimize the cost
·  HSBC Trust Company and HSBC Global Asset Management as product owners
·  WBS for calculation of internal errors
·  HSBC Global Asset Management for advice on restitution calculations
·  HSBC Bank for assistance on errors created by the sales force

Leadership & Teamwork

·  Work as part of a team and be able to collaborate with colleagues as well as work independently
·  Have an awareness of all tasks undertaken within the team
·  Have excellent liaison skills to manage timescales and information flow across three departments

Operational Effectiveness & Control

·  The team objective is to control and minimise risk within the PIMS (Premier Investment Management Service) and DWM (Discretionary Wealth Management) products
·  Delays in running exception reports will result in an increased risk level
·  Efficiencies elsewhere within the the business could be impacted by errors arising within Investment Controls

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 that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
·  The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence'. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required.
·  Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite.
·  The following statement is only for roles with core responsibilities in Operational Risk Management (Risk Owner, Control Owner, Risk Steward, BRCM, and Operational Risk Function
·  The jobholder has responsibility for overseeing and ensuring that Operational risks are managed in accordance with the Group Standards Manual, Risk FIM, & relevant guidelines & standards. The jobholder should comply with the detailed expectations and responsibilities for their core role in operational risk management through ensuring all actions take account of operational risks, and through using the Operational Risk Management Framework appropriately to manage those risks.
·  This will be achieved by:
·  Continuously reassessing 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.
·  Ensuring all actions take account of the likelihood of operational risk occurring, addressing areas of concern in conjunction with Risk and relevant line colleagues, and also by ensuring that actions resulting from points raised by internal or external audits, and external regulators, are correctly implemented in a timely fashion.

Observation of Internal Controls

·  The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures.
·  The term ‘compliance' embraces all relevant financial services laws, rules and codes with which the business has to comply. 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 following statement is only for roles with managerial or specific Compliance responsibilities
·  The jobholder will implement measures to contain compliance risk across the business area. This will be achieved by liaising with Compliance department about 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.

Desired profile

Knowledge & Experience / Qualifications

·  The Investment Controls Manager should have developed an advanced understanding of private client fund management disciplines
·  Investment Management Certificate (IMC) should be held. If not held, candidate should achieve this within a two year period
·  The following attributes are required for the role:
·  A good knowledge of the private client investment business
·  Strong numerical skills
·  Good Microsoft Office skills. Advanced excel skills, preferably first experiences with VBA coding
·  The ability to work accurately under pressure whilst maintaining close attention to detail
·  Good planning, problem solving and organisational skills



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