Processor Cash Payms and Recs

Job description

Job Title: Processor Cash Payments and Recs

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Business Descriptor:
INM Payment Services – Global Operations ( HOST )
Within HSBC Technology and Services, Global Operations is a leader in the development of services and processes that are designed around the customer and enable the firm to demonstrate to regulators that its processes and ways of working will deliver consistently high standards of compliance. Every day, customers all over the world are paying bills, buying homes and setting up companies and every day, Global Service Delivery teams are making sure all this happens smoothly.

Principal Responsibilities
· Maintain daily/monthly MIS for volume/value processed.
· Ensure adherence/compliance to regulatory recommendation.
· Ensure all transactions received within cut-off are processed .
· Communication of any change in process to all stake holders.
· Maintain 100% adherence to cut-off times prescribed by the RBI / CBEC / CBDT and other regulatory bodies.
· Maintain HSBC internal control standards; ensure the timely implementation of internal and external audit points together with any issues raised by external regulators.
· Maintain all controls as prescribed by regulatory bodies and set for by the bank through the FIM / BIM documents
· The payment volumes peak near to the cut-off times and speedy / accurate processing is a challenge.
· The amounts involved are large and incorrect postings would result into a financial implication for the bank.
· Understanding RBI systems and keeping abreast of the new amendments / developments.
· Understanding of banks systems like HSBCnet, HUB, HFE , UPDN etc and keeping abreast of any developments.
· Understanding the TAX process and keeping abreast of changes made by CBEC/CBDT/NSDL (Domestic regulators), manually tracking tax request for payments and special arrangements
· Job requirement involves interaction at various levels within the bank & with customers
· Ensure adherence to control mechanisms that will ensure well-being of the complete process.
· Maintain all controls as prescribed by regulatory bodies and set for by the bank through the FIM / BIM documents
· The job holder has to ensure that all guidelines as laid out internally (FIM/BIM, Internal Compliance and Audit) and externally (RBI regulations)

The jobholder derives his understanding on the payment products through various educational sessions conducted by the Reserve Bank of India and their training affiliates. As these training sessions are limited the jobholders' knowledge is specialized and limited persons are available in the industry possessing these skills. Financial implications of an error are significant and the jobholder is regularly under pressure to ensure accuracy of the transactions. Also the payments industry is cut-off driven and the jobholder is hard pressed for time to complete the processing activities. The jobholder needs to manage customizations for various customers out of what is a standard payment product

· Ensure day to day processes are run as per defined process notes and policies. Abide by agreed SLA/ PLA.
· Maintain HSBC internal control standards, implement and observe Group Compliance. Policy and maintain awareness of operational risk and minimize the likelihood of it occurring.
· Abide by all regulatory guidelines and is updated with latest changes. NIL non compliance.
· Manage volume growth with mantra of achieve more with less.
· Various BAU checks and control such as Account Balancing, Funding, ensuring effective back-up, training staff for new / change in process, managing contingencies, DCFC...etc are executed in timely manager.
· Ensure audit compliance at all times.

Desired profile

Qualifications :

Qualifications/Requirements:
Graduation in any discipline.
Post graduation will be preferred.

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