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Operations - Trust and Securities Services Operations – Clearing & Settlements - AVP

Deutsche Bank
Hong Kong
Posted 5 days ago Permanent NA
V
Posted by
Vijayadurga Poreddy
Recruiter
The Operations Lead is typically responsible for the supervision and oversight of a team and/or of workflow and functions. The Lead may perform regular business activities but in the main has responsibilities for people management, workflow, training and performance of controls. This would include to a large degree oversight of performance to Key Performance, Risk Indicators and Service level agreements. They have expertise or deeper understanding of process, product and/or the business and play a key role in facilitating communication between functional teams, sharing knowledge and good practice.

Job Description

We are currently providing the support to our business and clients with 40% perm staff and 60% temp staff (just joined us this year) that the team is struggled.  Clients continue to demand more services and/or support such as USD real-time settlement for Stock Connect which needs to be completed within less than 30mins processing window, extended funding cut-off time for Bond Connect.   Besides new deal approval for year today 2022, we are seeing current vol for QDII are increasing, vol are more than double, extra 1000 trades per month . HK team also need to handle more Depositary Receipts(Ads) conversion and withdraw/Deposit of physical certificates due to US government has tighten the listing regulations. At the same time, HKEx/HKMA/China regulators continue to modify the existing Stock Connect and Bond Connect program with either additional requirements and/or new features, such as change payment format from MT202 to MT210, change to provide settlement status via SWIFT, Project Synpase by HKEX, Bond Connect TPX by HKMA, Project CAMS by HKEX, API connectivity by HKEX.  The team requires to understand the changes, articulate the system enhancement needs, participle the market rehearsals. We need this position on shore to continue to support high risk/sensitive products

Additional Job Description

Details of the Division and Team:

Running a team of 6 staff within the custody settlement in Hong Kong. The team is responsible for managing and supporting all settlement related processes which occur on SD-1 and SD. 

The primary function of the team is to mitigate either reputational or financial risk that can occur through processing and is achieved through the primary responsibilities listed below.

Your key responsibilities:

  • Management of the Hong Kong settlement team including development of staff
  • Manage day-to-day settlement functions of custodian services for HK and Overseas Equities, Bonds
  • Constantly review processes procedures and systems, in conjunction with the rest of the business and customers to ensure that opportunities for improvement are recognized and acted upon and changing customer needs are met.
  • Strategize, implement and support initiatives that add value to clients and address operational gaps.
  • Work closely with project team on project planning, implementation, review BRD and FSD and provide user requirements on system changes.
  • Monitor the performance of the Line against the pre-agreed Service Level Documents that exist between each processing function
  • Provide guidance to the business partner in respect to their operation supported in the offshore center.
  • Escalation & involvement in resolution of exceptions around complex & high risk issues.
  • Ensure all control measures relevant to the job responsibilities are undertaken to minimize the risk exposure of the Bank

Your skills and experience:

  • Bachelor’s Degree in Business, Finance, Economics, or related disciplines
  • Incumbents typically have 5-7 years of experience in banking or securities firm, preferably with knowledge in custodian services.
  • Strong understanding in clearing, settlement and custodian operations in Hong Kong and Overseas
  • Familiar with local regulatory framework and related regulatory requirements
  • Strong written and verbal communication skills.
  • Good planning and organizing abilities. Influencing skills are essential to convey messages appropriately, assist the need to make an appropriate impact on clients and colleagues.
  • Ability to work independently, as well as in a team environment, prioritizes multiple tasks in accordance with associated risk or client impact and meets strict deadlines.
  • The candidate must be highly motivated, highly efficient and have the ability to constantly deliver on time.

 

Job ID  R0192244
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