Reporting to the GM Americas Chief Control Officer, the role holder will work as part of the Americas control team, aligned to both the GM Equities Control Office and the GM Fixed Income Control Office. The Fixed Income & Equities E-Trading, DMA and Securities Control Officer will own the control agenda for the E-Trading, Direct Market Access and Securities activities within both asset classes for the Americas region and act as a partner to both businesses. The Control Officer will ensure effective implementation of control standards, governance, procedures and controls and will play a key role in supporting and where necessary leading, the enhancement/ improvement of controls and best practice within the derivatives and financing activities for both asset classes for the region.
The role of the Fixed Income & Equities E-Trading, DMA and Securities Control Officer is part of the Americas Control Office which is responsible for the overall Global Markets Front Office control framework in the region for all asset classes. The role's primary focus will be to facilitate the effective design of the Fixed Income & Equities E-Trading, DMA and Securities Front Office Trading control framework and monitor its operating effectiveness, while contributing to the overall Global Markets agenda. The overall strategy of the business is trending towards electronic trading and direct market access, the business is constantly enhancing the infrastructure to reduce the execution latency and enhance post-trade processing capabilities including Emerging Market penetration, offering Synthetic executions and client based strategy executions. Equities and Fixed Income are exploring collaborations through the Equities electronic channels. The business is in need of a Control Officer who is technical, with experience in electronic trading, direct market access and general securities business and associated regulations in order to help the business to safely navigate this environment and be able to independently assess & challenge the non-financial risks associated with this new approach, including the regulatory requirement and interconnectivity risks between the products.
Monitor the operating effectiveness of the Fixed Income & Equities E-Trading, DMA and Securities control frameworks, escalating control issues as necessary
Assist the Heads of both Equities & Fixed Income in running the monthly business control committee
Embed new policies and procedures for and on behalf of both Equities & Fixed Income in accordance with the Bank's policy governance procedures, including ensuring controls and metrics are effectively embedded (e.g. through training)
Work with support functions to ensure robust controls and act as a point of escalation with regards downstream control issues. Influence support functions in their remediation of control gaps.
There must be a clear understanding of the broker-dealer and e-trading technical and regulatory environment and experience in applying a control and governance framework that aligns to both the expectations of the bank as well as those of the regulators (FINRA).
Ensure that the agenda / contents of the business control committee and other forums as required is 'fit for purpose' so that key control issues and emerging risks are appropriately discussed and addressed. - act as secretary to the meeting, ensure pack is produced, set the agenda and drive the focus on key control issues and emerging risks
Review the output of desk / control reviews, thematic reviews and other remediation/assurance work and monitor actions to ensure effective closure in a timely manner
Act as a point of escalation with respect to internal control issues (including red flags) for the asset classes
Act as principal contact point for Audit for the business
Monitor the implementation of audit points to ensure timely remediation and enhancement in the control environment
Risk and Control Assessment:
Own the administration of the Risk Control Assessment for both asset classes and ensure that the risk assessments are reviewed on a periodic basis
Drive the identification of control enhancements within the current control environment and therefore the control change agenda for the asset classes
Challenge and advise on other business changes which may impact key controls for the business
Management of Risk
Responsible for the continual assessment of operational risks associated with the role and inherent in the businesses, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructuring and the impact of new technology.
Demonstrates compliance with HSBC Bank plc Group standards, manuals and policies and adheres to the defined work practices, internal controls and risk management standards associated with the role.
Observation of Internal Controls
Maintains HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business activities associated with the role, specifically HSBC Bank plc internal controls and compliance policies and manuals.
Internal Number: 732190
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