Unauthorized Trading Surveillance Officer (Fixed Income) - HSBC - New York, New York - EXPIRED
This is an archive of an expired job.
Job Information:
Company: HSBC
North America-United States-New York-New York
Surveillance roles are responsible for the identification and management of undesired risk activities including conduct risk and financial crime risk. They are responsible for integrating prescribed and required forms of surveillance in the business, complimentary to existing process/systems.
The key area of focus will be the implementation of the conduct surveillance and analytics strategy across Business Line(s) in order to identify misconduct of our staff and our counterparties.
Role holder will carry out activities which will include most of the below:
- Identify potential new forms of staff or counterparty misconduct.
- Determine whether these could be identified through the surveillance team’s current systems, processes, people and the data sets surveilled.
- In liaison with the Change Team, prioritise the development of the systems, processes, people and data sets needed to (better) identify these new forms of misconduct for their business/asset class.
- Input into and track the development of these new surveillance capabilities.
- Deal with the alerts once they have already been passed through a first (level one) filter by the offshore team.
- Ensure that all alerts are satisfactorily escalated and resolved.
- Provide support and guidance for our expanding off-shoring function
- By looking across the alerts (ie holistically) identify improvements the way in which alerts are generated to improve the effectiveness and efficiency of the surveillance process.
- Carry out in investigations requested by Regulators, senior management and the businesses/asset classes into certain practices, businesses, individuals and events. Escalate, as appropriate, any material findings or incidents of misconduct highlighted by these investigations.
- Coordinate or produce regular MI reports to key internal stakeholders including analysis of the MI.
- Foster a close relationship with key front office and support function stakeholders.
- Assist team members with the implementation and roll-out of a new surveillance tools and models.
- Present surveillance output at internal control and governance forums.
- Support the Conduct Surveillance and Analytics team in the resolution of audit and control findings
- Liaise with change management and technology and aid surveillance in delivery.
- Analyse and explore multiple data types in order to identify anomalies and patterns of risk
- Understand financial products and HSBC’s business processes around these
- Work across various technology platforms (surveillance, analytics, trading platforms, etc.)
Impact on the Business/Function
- Provide subject matter expertise to support and drive the implementation and enhancement of the Unauthorized Trading Surveillance solutions.
- Analyze and investigate potential instances of unauthorized trading detected by the solutions.
- Imperative escalation of potential regulatory and internal market misconduct breaches to Compliance Senior Management.
- Improve overall efficiency of the process and individual performance within the team.
- Influence the behavior of the business and its support functions by acting as a deterrent.
- Challenge existing surveillance tools and models and contribute to the creation and development of new models and detection tools.
- Perform ad-hoc trading reviews.
- In addition to surveillance, the incumbent will create and maintain new Compliance and Operational Risk related Management Information Reporting.
Customers / Stakeholders
- Develop strong relationships with the first line of defense (Front-office, Operations, Product Control, Market Risk) and RC Advisory teams.
- Engage and collaborate with Global Manager – Unauthorized Trading and the global Surveillance team.
- Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
- Monitor and ensure adherence to agreed performance levels.
- Draw on relationships to deliver enhancements to the process and technology used by Unauthorized Trading Surveillance within your asset class.
- Produce high quality Management Information in order to facilitate meaningful and actionable dialogue with stakeholders in a timely manner.
Leadership & Teamwork
- Support achievement of the HSBC vision, values, goals and culture in personal behavior, actions and decision making.
- Take personal responsibility for understanding and agreeing performance expectations, completing the necessary mandatory training and developing the levels of capability and competence needed to be effective in the role.
- Contribute to team development, effectiveness and success by sharing knowledge and good practice, working collaboratively with others to create a productive, diverse and supportive working environment.
- Build and maintain teams with effective inter-personal dynamics.
- Ability to act proactively and multitask.
- Desire to pass on skills for the good of the team and learn from the other team members.
- Self - motivated, enthusiastic and proven rapid learning capability.
- Actively participate in team meetings, bringing solutions / suggestions / recommendations to the table.
- Ability to work unsupervised and efficiently prioritize.
- Strong interpersonal skills with the ability to communicate effectively with both Compliance and Business Management.
Operational Effectiveness & Control:
- Ensure that the Trade Capture control standards are adhered to from Front to Back.
- Suggest ideas and contribute to implementing actions that will improve customer service, quality or the way teams and individuals work together.
- Adhere to HSBC policy, procedures and control requirements applicable to day-to-day working, exceptional and project activities, and raise any concerns about actual or potential issues promptly, in line with reporting and escalation procedures.
- Identify gaps in process documentation and address these effectively.
- Maintain issues log and track progress in a timely manner.
- Ability to work in a methodical manner.
- Ability to support decisions with sound reasoning.
- Ensure robust and timely record keeping, evidencing monitoring activities undertaken and action taken.
- Maintain the HSBC internal control standards including the timely implementation of internal and external audit points, together with any issues raised by external regulators.
The role will be joining a newly formed US Unauthorized Trading Surveillance team. The team sits within the RC Surveillance team and will be made up of one resource per asset class (Fixed Income, Equities and FX/Commodities). The asset class leads will be supported by a Regional Unauthorized Trading Surveillance Manager (based in NYC) and a Global Unauthorized Trading Surveillance Manager (based in London).
This role is the Asset Class Lead for Fixed Income.
The role will be located in the New York office, but has global geographic reach at hub level. The role will require extensive engagement with a diverse group of stakeholders, including Front Office, Operations, Product Control, Market Risk, Compliance and IT as examples. This may include extensive interaction with other Americas sites as the scope of the Unauthorized Trading solution expands.
The technology underpinning the Unauthorized Trading Surveillance process is in its infancy in the US, as is the process. The major challenge of this role will therefore be to support the embedding of the tool and process into Business As Usual (BAU), while identifying and implementing areas for improvement. Given the immaturity of the process, a solid understanding of trading systems and booking models will be required in order to challenge assumptions and ensure the solution fits the structure and nature of business in the region.
Qualifications
Certifications, Qualifications and Experience
- A strong understanding of the rules relevant to trading and sales activities for Fixed Income
- Expert knowledge of financial markets and traded Fixed Income products
- Demonstrable experience (3 or more years) working in an Unauthorized Trading Surveillance, front-office, middle-office or Operations role
- Ability to support decisions with sound reasoning. Ability to clearly articulate business and regulatory implications of analysis and findings.
- Excellent understanding of trade lifecycle, P&L and Risk is essential.
- Strong analytical skills
- Exposure to big data and databases a plus
- Exposure to Primary Trading Systems (“PTS”) and business processes is required.
- Evidence of collaboration with key stakeholder functions as well as providing credible challenge to the business/desk supervisors in their daily risk management
- Evidence of engagement in project management/change initiatives
- Strong communication and negotiating skills.
If you would like to notify the Diversity Recruitment team of your application or if you are simply interested in learning about opportunities at HSBC, please email [email protected]
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