Trade & Transaction Reporting Product Management

Job description

Role Title: Trade & Transaction Reporting Product Management

Business: Operations
New or Existing Role? New
Grade: GCB3

Role Purpose
· The Global Markets Middle Office Product Management Team sits with Global Markets Middle Office. It manages the Global Trade & Transaction Reporting programme, which itself is part of the wider Global Markets Regulatory Programme suite
Wider team
· Global Markets Middle Office is a globally aligned, cross asset operational structure positioned equidistant from the Front Office, Operations, Finance and Risk. The TDQ & Reporting component of the GM Middle Office, consists of 3 other primary functions.
· Trade Data Quality (TDQ), which provides a series of accuracy and completeness controls across the Trade Data domain;
· Trade and Transaction Reporting (T&TR) which is responsible for delivery of our daily T&TR control responsibilities; and
· Cross Asset Reporting (XAR) which provides a series on non standard regulatory reporting and controls on behalf of the front office.
· Trade and Transaction Product management

Trade & Transaction Product Management

· Trade & Transaction Product Management is responsible for change management, analysis, definition and delivery of solutions for business requirements resulting from the introduction of new and updated Trade Reporting rules by the various Global Regulatory Bodies, such as HKMA, MIFID2, CFTC, EMIR, and SFTR, working closely alongside the IT function
· The industry remains under increased regulatory pressure across our businesses as these reporting obligations are put into effect; therefore a substantial amount of cross functional change is required, and is coordinated by the T&TR Product Management Team to ensure HSBC adhere to regulatory objectives in the most time, cost, controlled and technologically efficient manner.

Key Accountabilities

Impact on Business

· The role of the Project Owner is to support the Global Product Owner, and Project Managers to deliver projects within the Global Portfolio, and forms part of the senior leadership team of the T&TR Product Management suite.
· The Product Owner is responsible for the following activities and deliverables:
· Accountable for the end to end delivery for Regulatory Change projects (e.g. SFTR, HKMA, MiFID, EMIR, CFTC etc.) and / or internal Strategic Architecture implementations.
· Coordination of the backlog of work for a particular region, including allocation of resources between agree changes/new regulations, new & unplanned work, and allocation of resources to remediate existing regulations
· Manage budgeting, planning and allocation of resources to meet relevant business outcomes
· Manage Front Office stakeholders, Compliance, Asset Class Business Managers and Technology PODs ensuring commitment to the project and deliverables from all required functions are met, at an acceptable level of regulatory compliance, and working with BAU to ensure a sustainable set of Operational Controls to maintain compliance
· Working with the Regional Product Owner(s) and project team, deliver Business Requirements, gap analysis, solution design and implementation of business and Technology changes.
· Coordinate the rule interpretation and impact assessment for the regulatory changes in conjunction with Legal and Compliance.
· Maintain key programme deliverables such as work-stream plans, status updates, RAID logs, change logs, traceability, programme toll-gates, etc.
· Successfully executing and coordinating consistent deployment of complex, global, business and regulatory driven solutions in a matrix management structure.
· Providing a joined up service to the business lines and regulatory leads in each region and globally, successful assurance and quality of reporting and control and creating a scalable team that is able to adapt and grow as future tasks are assumed.
· Quickly and effectively integrate multiple distinct demands and agendas in order to provide a single consolidated approach and plan that is understood, relevant and realistic to meet our regulatory commitments
· Create and review with relevant stakeholders the global operating model, business cases and plans to support delivery.
· Manage the technology and business model changes.
· Work with the IT delivery PODs and co-ordinators to evaluate the key delivery stages according to any agreed baselined plans, leading solution based discussions to mitigate risks and resolve issues.
· When making changes, develop a detailed TOM for the business supported with relevant Organisation Design and Operational Controls.
· Work closely with the business group to drive consistency, control and best practice across the regions.
· Manage resource schedule, project budget and capacity planning escalating any risks or issues in a timely manner.
· Support the identification and development of solutions to mitigate the risks identified as part of the project implementation approach, reporting and escalating, if necessary, issues for resolution.
· Management of the regulatory risk to the business through the effective business implementation of evolving regulatory requirements.
· Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
· Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.

Desired profile

Qualifications :

Knowledge & Experience / Qualifications

·  An individual with a strategic approach who can work collaboratively with multiple stakeholders to drive through significant change in aggressive timelines.
·  Strong experience of Regulatory reporting, Compliance, Risk and Control and Data management, plus associated Operational Controls.
·  Experience in driving and sponsoring complex change initiatives, being aPproduct Owner and delivering in an Agile environment.
·  Active engagement in the industry in relation to new technologies and Regulation.
·  Experience with working as a conduit between Business and Technology teams to ensure requirements are clearly understood and solutions delivered.
·  Strong communication skills.
·  Strong influencing skills.
·  Strong Operational background, Risk and control / Compliance and Regulatory reporting experience preferable.
·  Proven track record of leading the design, development and delivery of global projects, across geographies, time zones and with multiple stakeholders.
·  An in-depth understanding of the Global Markets business with a strong understanding of OTC products and the regulatory framework in the Financial Services sector.
·  Confidence and track record in building sound working relationships with key stakeholders, securing project resources or priorities from them through persuasion and influence rather than necessarily authority.
·  Strong analytical ability to support decisions with sound reasoning.
·  Ability to interpret regulatory changes and assess implications on business through detailed analysis.
·  Self-starter with proven ability to work collaboratively within a team and who can influence and motivate people around them.
·  Good presentation skills
·  Adaptable and can thrive in a diverse work environment.
·  Positive ‘can do' attitude
·  Ability to work effectively to strict timelines and deadlines
·  Prior experience of working on a Trade / Transaction Reporting programme such as HKMA, MAS, ASIC, DFA and/or EMIR).
·  Awareness of Trade Reporting mechanisms (e.g. connectivity to GTR, FpML etc)

Under the Company's internal 'Back to Front'/'Front to Back' transfer policy this role may be classed as High Risk. As a result, internal candidates may require enhanced approvals and vetting checks if they are currently employed in a Front Office department, or if they have worked in a Front Office department within the last 5 years (please refer to the HR FIM definition for further guidance). The enhanced approvals and vetting would need to be completed before the candidate will be confirmed in the role.

As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.

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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