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||New York, NY
|| Accounting/Auditing, Customer Service and Call Center, Finance/Economics, Financial Services, Human Resources, Information Technology, Military, Executive Management, Research & Development
Unauthorized Trading Surveillance Manager|
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 function leads in developing, implementing and operating systems and processes to identify risks outside defined risk appetite.
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 eg conduct, FCR, etc
- 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.
- Partner with regulatory change and other regulatory SMEs to understand new and revised regulatory requirements, codes of practice etc, ensuring surveillance is correctly positioned to satisfy regulatory requirements and changes and that any impact is disseminated to the appropriate Businesses
- Input into and track the development of these new surveillance capabilities.
- Ensure that all alerts are satisfactorily escalated and resolved.
- Assist line management in the conduct of crisis management.
- 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.
- Deal with the alerts once they have already been passed through a first (level one) filter by the offshore team.
- 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.
- Analyze 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
- 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.
- Proactively identify FTE requirements and inform Business Partners. Effectively handle recruitment needs.
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.
- Production of high quality Management Information in a timely manner in order to facilitate meaningful and actionable dialogue with stakeholders.
- Ongoing expectations of business partners to be met
Leadership & Teamwork
- Support achievement of the HSBC vision, values, goals and culture in personal behavior, actions and decision making.
- Build and maintain a high-performing Unauthorized Trading Surveillance team.
- Stay continuously engaged with the team to understand their progress, challenges, improvement areas and development needs.
- 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.
- Manage team performance effectively; rewarding strong performance and developing the team where needed.
- 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.
- Ability to guide the team and act as an escalation point to support the resolution of complex issues.
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.
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Qualifications & Requirements
- A strong understanding of the rules relevant to trading and sales activities.
- Expert knowledge of financial markets and traded products.
- Demonstrable experience (6 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.
- Demonstrable experience managing a team.