Derivatives Clearing Services Business Manager
The Derivatives Clearing Services Business Manager / COO will support the Derivatives Clearing Services (“DCS”) franchise within Global Markets primarily in coordination with other regions, ensuring effective partnership with Front Office, Control office, and Support functions:
The COO role mostly consists of ensuring that business operations are run smoothly, enabling business heads to develop new client’s interactions & better risk manage their positions, keeping our costs under control, ensuring proper conduct and behaviors, implementing business, regulatory and organizational changes.
Ensuring the business is compliant with current regulations and evolving regulatory reform, and operates in line with the Group standards on Risk & Control and the Conduct agenda is imperative of this role. Working with the Front Office to support business enablement and execution of the growth strategy is also key.
The DCS Business Manager is responsible for ensuring the efficient business management of US DCS, which consists of Exchange Traded Derivatives and Cleared OTC.
- Assist the Derivatives Clearing Services Business shape their strategy
- Focus on delivering commercial goals and objectives at the regional and global level, contributing to strategic plans
- Sponsor regional initiatives to develop HSBC business activities and to effectively manage costs.
- In partnership with embedded control officers, managing the risk and control environment via a robust governance, ensuring all risks are understood, reported and managed within risk appetite
- Participate in Conduct risk mitigation and Remediation programmes
- Analyse impact of regulatory change in collaboration with Compliance and Regulatory teams and implement business adaptations
- Represent the business line at regional and global governance forums and interact with local regulators and industry groups on case by case basis
- Support Sales in their day-to-day activity
- Ensure seamless coordination with other DCS and Security Financing COOs in other regions
- Develop and manage the implementation of all DCS Global Markets operational plans and priorities and to manage delivery of the agreed strategy.
- Ensure Front to back oversight of processes within DCS and ensure that the control framework is robust and consistent.
- Responsible for ensuring strong relationship between Front office and support functions.
- Drive the conduct agenda playing your part to ensure the business continues to be aligned to HSBC values.
Some areas of accountability include compliance with current regulation and ensuring the business keeps pace with regulatory reform. The COO team also works with the business to ensure it is well controlled and facilitates the continuous evolvement of the risk and control framework via enhancements to policy, process and infrastructure.
The COO team also plays a key role in business initiation which can include NPDD’s and GSM’s. All accountabilities require close collaboration with the business and support functions in the region and globally.
The role commands a deep knowledge of Global Markets products with a key focus on Exchange Traded Derivatives and Cleared OTC products and respective regulations governing those products.
The role has a key people aspect for collaboration and in line with the Values of HSBC. A key part is to be a trusted ‘go to’ person for the business.
For this role, HSBC targets a fixed pay range between $175,000 and $200,000.
The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.
At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.