Operations Analyst

Job description

Role Title: Operations Analyst

Business: Retail Banking and Wealth Management

New or Existing Role? New

Grade: GCB5

Role Purpose

· HAIL's Alternatives Operations team support HAIL, HMG and AMEU's Alternatives products including Hedge Funds, Real Estate, Private Equity and Infrastructure asset classes across Funds and Discretionary/Advisory Mandates.

· HAIL's Target Operating Model embeds a Middle-Back Office functional framework within the Operations team:

· Reconciliation: cash, assets, corporate actions

· Accounting: pricing, valuation, expenses, fees & invoicing, financial statement preparation and auditing

· Treasury: cash and liquidity management, investor flows, capital calls and distributions, credit, FX hedging

· Reporting: performance, regulatory, tax, portfolio compliance (investment restrictions), MI and internal KPI metrics

· Analytics: cash planning and forecasting, portfolio analytics

· Investment / Deal / Trade Planning and Execution: manage and monitor investment structures / deals from inception to exit, on- / off-boarding from systems and operational infrastructure, deal administration and legal documentation, financial and tax due diligence

· HAIL's Alternatives Operations are also responsible for:

· Third party service providers: engagement, due diligence, management and oversight

· Implementation of regulatory and tax change

· Financial crime compliance

· Business continuity

· Business information management

· Operational Risk Management: design and maintenance of procedures and policies consistent with controls

· Operational input into product change initiatives and new product development

· Operational change management

Key Accountabilities

Impact on Business

· Perform back office activities for Hedge Funds and other asset classes as required: reconciliation of portfolio activity and holdings between systems, custodians and administrators; resolution of breaks and queries and appropriate escalation of issues

· Internal pricing of assets and assisting third parties to perform pricing activities; completeness and timeliness of pricing information; verification and dissemination of pricing information; assist the internal portfolio valuation process and the valuations performed by third parties

· Processing of trades and deal administration; notification of trades to custodians; provision of information to ensure documentation and payment deadlines are met; trade booking, trade confirmations, cash confirmation, reconcile trading and other relevant information between blotters and internal/external systems

· Provide desk support to the Hedge Fund Investment Team

· Manage fund information, data and paper flow; coordination of flow between administrators, custodians, internal systems and records

· Manage client and stakeholder queries

· Assist with preparing reports for internal and external stakeholders, clients and regulatory requirements; assist with portfolio compliance reporting

Customers / Stakeholders

· Internal teams:
· Alternatives Operations; Investment; Risk; IT
· Sales & Marketing
· HSBC entities:
· HSBC Asset Management (UK, Asia)
· HSBC Management Guernsey
· HSBC Private Bank (Switzerland, Channel Islands, Asia)
· External service providers:
· Administrators; Custodians

Leadership & Teamwork

· Part of a team of Operations Analysts and Middle Office Analysts who together perform the middle and back office activities
· Assist in team effort to improve operational effectiveness and procedures

Operational Effectiveness & Control

· Develop, document, update and maintain operational procedures that demonstrate effective control of operational risks

Major Challenges

· Working simultaneously on multiple complex internal operational activities and deliverables to clients, internal and external stakeholders and service providers on a defined schedule whilst adapting to ad-hoc issues, queries, and resource constraints, particularly in the run up to and immediately after valuation points
· Remaining compliant with internal controls and industry best practices
· Adapting to change whilst maintaining BAU

Role Context

· This is a support role for the back office activities for Hedge Funds across a HAIL's range of Funds and Discretionary/Advisory Mandates; some middle office activities are also involved. The role forms part of a team of four performing these activities, one of whom is the Senior Operations Manager and to whom this role reports. Additional guidance for development and enhancement of the team's activities is provided by the Head of Operations, Business Transformation, BRCM, and a strategic view of processes and controls used by HSBC Global Asset Management.

Role Dimensions

· Back Office

· Support the team's Hedge Fund portfolio administration activities: reconciliations, treasury, pricing and valuation, for the purpose of maintaining accurate internal records of the portfolios and provision of reporting; timely resolution of breaks, queries and issues; support the provision of Management Information and KPIs

· Middle Office

· Support processing of transactions through dealing activity logs and internal and external systems; deal administration; portfolio analysis

· Reporting

· Support reporting of information to internal and external stakeholders, clients and third parties; awareness of the systems used, the controls in place, client needs and regulatory requirements; assist with client requests and queries

· Operational Risk Management

· Awareness of operational risk; assist maintaining an effective operational control framework within the business; help to evolve the Operations function to identify and remove manual processes, align processes and remove key person dependencies; assist the business to embed its Target Operating Model; ensure operational procedures are well documented and suggest improvements and alignments

· Operational Oversight

· Assist others in the team that oversee the activities performed by third parties (custody, administration, dealing)

· Business Development

· Assist others in the team that are supporting change initiatives (changes to existing products and new product development)

Management of Risk

· Awareness of the operational risks inherent in the Operations team's activities and wider HAIL business and conduct in a manner that is consistent with the risk control framework
· Awareness of external factors that affect the risks to HAIL's business, such as changing economic and market conditions, changing legal, regulatory and tax landscape, new technologies, cyber risks; awareness of operational best practices that will help HAIL manage risk and adapt to changing risks
· Upholding HSBC's Global Standards and performing activities in line with Functional Instruction Manuals; ensuring desktop procedures are compliant with FIMs
· Upholding HSBC's Charter and Values: being dependable, open to different ideas and cultures, and being connected to customers, communities, regulators and each other; acting with Courageous Integrity and empowerment to ‘do the right thing'
· Fair treatment of customers

Observation of Internal Controls

· Comply with HSBC's internal controls and Functional Instructions
· Comply with HSBC's Group Compliance Policy
· Assist with improvements to processes and controls as a result of internal and external audit points
· Understand and demonstrate compliance with internal and external rules and regulations

Desired profile

Qualifications :

Knowledge & Experience / Qualifications

·  Education to at least A'level in a quantitative subject (maths, sciences, finance)
·  Knowledge of Operational Risk Frameworks and Controls within an Institutional operating environment
·  Minimum 2 years experience working in Alternatives Operations
·  Proficient in Excel and experience of working with proprietary and vendor operational systems
·  Awareness of incumbent regulations (MiFID II, AIFMD)
·  Highly organised, able to manage and meet tight timelines for individual and team deliverables
·  Able to understand operational processes within the full front-to-back workflow
·  Able to work on BAU and change activities simultaneously

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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