HSBC Assistant Vice President - Global Banking and Markets, New Product Due Diligence in New York, New York
Global Banking and Markets (GBM) is one of HSBC’s four Global Businesses. It provides tailored financial solutions to major government, corporate and institutional clients worldwide. In partnership with clients, GBM utilises its global footprint to foster cross-border opportunities and help its clients work towards achieving beneficial results.
The GBM New Product Due Diligence team is responsible for ensuring that all material changes to the businesses, whether the introduction of a new product, new market or the re-engineering of business processes or existing products receive the appropriate level of due diligence before commencement. The scope of the role includes the four business lines within Markets; Rates, Credit, Equities and Foreign Exchange as well as Balance Sheet Management and Banking as needed. The role is located in New York with jurisdiction of the Americas region including balance sheets in Argentina, Brazil, Canada, Chile, Mexico, Uruguay and the USA.
Primary Responsibilities/Essential Functions:
- Assist and advise the sponsoring Business in adhering to new product approval policies
- Coordinate and produce the GBM New Business Review Committee Americas (NBRC) agenda, a Front Office senior management meeting held weekly whereby the Business decides whether proposals by sponsoring businesses can enter the new business approval process and ultimately following the due diligence process commence execution
- Advise and oversee the solicitation of feedback from all Control Functions including Regulatory Compliance, Operations, Legal, Product Control and others in the due diligence process to ensure consistency and adherence to relevant policies
- Review completed due diligence documentation before final presentation to the NBRC for approval to launch product / service
- Provide reporting to business line and global internal committees including Business Control Committees (BCCs), Volcker Risk Meetings (VRMs), Risk Management Meetings (RMMs) and to internal and external auditors and regulators
Coordinate and produce the GBM New Business Oversight Committee Americas (NBOC) agenda, a monthly meeting where head of control groups and COOs from all sites in the region convene to oversee the approval process. Pipeline, active initiatives, post implementation reviews and caveats coming out of the due diligence process are discussed Decision-Making Responsibility:
Using guidance from existing Group-wide, GBM specific and local policies ensure due diligences are completed when required and to appropriate standards.
Provide guidance to sponsoring businesses in regard to policy and procedure for new product approvals Management of Risk
Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.
- Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
Each employee must promote an environment that supports diversity and reflects the HSBC brand. Observation of Internal Controls
Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year end performance assessments.
Each employee must understand, follow and demonstrate 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.
Ability to manage multiple relationships and tasks in a complex organization across multiple sites
- Knowledge of markets products and/or operational support of markets products a plus
- Strong communication skills, both verbal and written required
- Build and maintain strong relationships within the global NPDD team, the Front Office businesses and control functions
- Organizational skills and project management experience is useful
- Minimum experience of 3 years in financial services industry (candidate with line experience – Middle Office/ Product Control, Operations a plus)
- A BA/BS degree in a business related major a plus but not necessary
- Knowledge of the due diligence process at HSBC or other leading international banks is a significant advantage EEO/AA/Minorities/Women/Disability/Veterans
Job: *Capital Markets
Title: Assistant Vice President - Global Banking and Markets, New Product Due Diligence
Location: New York-New York
Requisition ID: 000098T1