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If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
Global Payments and Cash Management
Global Payments and Cash Management is made up of almost 10,000 people, across more than 60 countries. The business is uniquely positioned to help clients make payments across borders, across currencies and regulations, quickly and cost effectively with dedicated in country and regional support. Our expertise in this area is repeatedly recognised by the industry’s most prominent publications and associations with numerous global, regional and country awards.
We are currently seeking an experienced professional to join the Payments team.
· Manage and control daily operations and administration of the remittances unit (which includes remittance processing, regulatory filings, RBI liaison, investigations etc.) in order to achieve a high level of efficiency and customer service, which would help attain strategic and operating objectives of the Bank.
· Monitor performance of employees, vendor staff and unionized staff in the given unit
· Ensure standardization of processes. Process notes to be updated on a regular basis.
· To centralise regulatory filing activities at Mumbai as per RBI requirements.
· Ensure an effective Business Continuity plan is in place for the unit.
· Ensure day to day processes are run as per defined procedure notes and policies.
· Ensure Daily Control Functional Checklist is updated by all team members and held on records.
· Guide the team to excel in all performance parameters which include cost management, key process performance indicators (TAT, accuracy etc.), customer satisfaction levels etc.
· Maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
· Implement the group compliance policy as applicable to his role. Should be aware of the Operational Risk scenarios associated with their role, and to ensure that all actions during their employment with HSBC, take account of the likelihood of operational risk occurring.
· Monitoring performance of reporting staff with the help of Production management systems such as ICATS.
Impact on the Business
· Ensure that there is improvement in productivity for transaction processing and service delivery.
· Conduct User Acceptance Tests (UAT)
· Business Continuity Plan (BCP)
· Cost Management
Customers / Stakeholders
· Contributes to building good customer relations and maintaining a high level of customer service
· Understand and implement customer requirements. Ensure highest level of engagement with business groups & PCM team
Leadership & Teamwork
· Ensure backups are created within the unit to avoid any disruption during contingency and leaves.
· Contribute to the success of the team by collaborating with other operational colleagues.
Operational Effectiveness & Control
· Manage the operational risk associated with the role and safeguard the interest of the bank
· Ensures audit recommendations / Compliance issues
· Reporting / Preparation of returns
· Business Continuity Plan (BCP)
· Conduct User Acceptance Tests (UAT) for system amendments / up gradations supplied by RBI from time to time. Provide accurate feedback on time, user friendliness, bugs etc. observed in the systems. Obtain assistance from local technical services team on conducting these UATs. Attend discussion groups conducted by RBI for developments on the payment products
Major challenges will be
· Managing within the regulatory framework to avoid any reputational impact on the Bank is a major challenge.
· To develop a service delivery model for such regulatory processes which from time to time are passed on from RBI & SEBI to Authorised Dealers
· Balance the customer's requirement and expectation with RBI's delivery model.
· Liaise and interact with all Customer Groups. An increasing business focus on remittances from SME and PCM requires the job holder to manage business expectations and at the same time keep the costs low and productivity high
· The job holder is expected to communicate effectively with all stakeholders to ensure that customer's expectation is met and at the same time no compromise is made to the Bank's position
· The growing workload needs to be handled with utmost efficiency / accuracy and the staff are motivated to project a good image of the department, bank and group as a whole.
· Analytical thinking is necessary for constant improvement of processes by identifying areas of weakness from the information and feedback received from processing and client servicing.
· Since introduction of PCM business in India during 1999, HSBC has endeavoured to catch up with competition and to make its presence known and has achieved a great deal of success in this regard. Competition to HSBC exists in the form of established foreign players (Citibank, Standard Chartered Grindlays, Deutsche etc.), private banks who have a large branch network (HDFC Bank, ICICI Bank, etc) and nationalised banks where the degree of sophistication varies considerably (eg, Corporation Bank, State Bank of India, Vysya Bank etc). There has been a significant erosion of margins in this business, requiring constant monitoring of revenue streams and posing a challenge to ensure cost reductions through continuous review of processes and resources.
· The principal regulations governing the jobholder are RBI guidelines, SEBI guidelines, Compliance guidelines and the group’s internal policies. He/she needs to Manage within the regulatory framework to avoid any reputational impact on the Bank. He needs to possess good analytical skills & understanding of NSE BSE settlement transactions. The job holder is expected to communicate effectively with all stakeholders to ensure that customer's expectation is met and at the same time no compromise is made to the Bank's position.The jobholder is expected to exercise broad discretion in carrying out his / her regular duties and is required to make reference to his / her superior with regards to decisions beyond his / her discretion. Also policy matters need to be referred to the AVP, VP- Payment Operations, Head – Payment Services and / or PCM product team as appropriate.
· The jobholder is expected to exercise broad discretion in carrying out his / her regular duties and is required to make reference to his / her superior with regards to decisions beyond his / her discretion. Also policy matters need to be referred to the AVP, VP- Payment Operations, Head – Payment Services and / or PCM product team as appropriate.
Management of Risk
· The job holder has to ensure that all internal (FIM, Internal Compliance and Audit) and external (RBI, SEBI regulations) guidelines are followed.
· A key risk aspect where the job holder is expected to provide leadership is payment and settlement risk.
· Identify risk mitigants & steps to ensure NIL OPR’s. Ensure risk ids in Helios are reviewed periodically.
· Maintain awareness of operational risk and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting in accordance with section 4 of the Group Operations FIM.
Observation of Internal Controls
Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators. Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, and optimising relations with regulators.
· HUB Authorisation limits (Transfers)
· Voucher signing limits
· HUB outward message cable release limit
· Minimum Graduation or as required for the role, whichever is higher
· This role requires 3-5 years of overall Banking exposure with 2 years of specialized experience in managing Remittances Operations.
Skills required for success are:
· Strong Communication and decision making ability
· Thinking and Problem solving skills
· Customer Drive
· FEMA knowledge (Preferably FEDAI certified)
· People and Stakeholders Management
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Issued by The Hongkong and Shanghai Banking Corporation Limited, India