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Securities Services provides robust and reliable solutions that enhance performance and mitigate risk, today and in the future. Working with institutional investors, banks, insurance companies, governments and multinational corporations, Securities Services offers a range of fund administration, global custody, sub-custody and clearing, and corporate trust and loan agency services.
We are currently seeking a high calibre professional to join our team as an Associate, Due Diligence, GTFS.
An Individual Contributor role to independently conduct Due Diligence reviews on different types of service providers/delegates (e.g. Investment managers, member administrators, fund administrators, custodians, registrars) in order to demonstrate that TFS is fulfilling its fiduciary obligations in accordance with regulatory expectations and Global TFS Benchmark standards.
Given the interaction with relatively senior stakeholders in these service provider/delegate organisations, it is important that the role holder represents HSBC and TFS effectively and displays the HSBC Group’s Values Aligned Behaviours, and is able to analyse service provider’s/delegates’ current processes/controls against regulatory requirements and industry best practices in order to provide appropriate recommendations for the respective organisations.
- Conduct Due Diligence reviews on different types of service providers/delegates
- Coordinate with service providers/delegates to ensure the scope, details, areas of focus of the Due Diligence review and documents/samples required are clearly communicated prior to conducting on-site reviews
- Review and analyse pre-visit documentations and questionnaire responses provided by service providers/delegates and internal stakeholders, and ensure sufficient preparation is completed before conducting Due Diligence reviews
- Analyse service provider’s/delegates’ current processes and controls against regulatory requirements and industry best practices through written and verbal inquiries, discussion with management and operational specialists, administrative walk-throughs, system demonstrations and sample testing, and provide appropriate recommendations for the respective organisations
- Ascertain how each service provider/delegate complies with relevant regulations and ensures optimal, fair and equitable results for fund/scheme beneficiaries
- Complete the Due Diligence checklists, internal reports, risk assessments and closing documentations for each review within the set deadlines
- Identify and discuss any potential findings/observations and relevant recommendations with the Due Diligence team, and communicate the review results with service providers/delegates to ensure controls and processes are implemented/improved
- Discuss and analyse the impact of regulatory updates on the work of trustee
- Provide guidance to update and enhance Due Diligence templates in accordance to Global Due Diligence Policy and local regulatory requirements on needs basis or at least annually
- Facilitate open communication with trustee team members and Securities Services staff members to identify any potential issues and improvements
- Manage ad hoc projects as necessary
- University degree or equivalent
- Prior work experience in funds or trustee industry is a pre-requisite
- Preferably, prior work experience in conducting audits or compliance reviews in the funds or trustee industry
- A good appreciation of the Hong Kong funds regulatory environment, including MPF master trusts or underlying regulated funds, pension schemes governed by the Occupational Retirement Schemes Ordinance (“ORSO Schemes”), SFC-authorised collective investment schemes, and Non-SFC authorised unit trusts
- Appropriate technical knowledge of the operational processes and controls of different service providers/delegates (including investment managers, member administrators, fund administrators, custodians, and registrars), as well as the overarching Risk / Compliance / Audit governance framework in place
- Ability to analyse complex business issues and propose solutions
- First rate communication and presentation skills, experience and confidence in dealing with clients at a senior level
- Good analytical skills and decision making ability
- Ability to demonstrate ownership and management of issues
- High degree of computer literacy
- Excellent numeric and analytical skills with strong attention to detail
- Strong team working ability and capable of encouraging ideas and input from team members
- Ability to balance client relationship management with maintaining independent oversight and supervision
You’ll achieve more when you join HSBC.
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Issued by The Hongkong and Shanghai Banking Corporation Limited.