This role is Head of Markets Operations South Africa, supporting a very vibrant and growing business.
The incumbent would need to lead, motivate and manage a group of 13 FTE supporting the local GM business.
They would understand and manage the processing of products within the Cash Equity, Equity Finance Delta 1, FX
Money Markets and Bond Trading areas. They would also manage the Cash Services team which supports critical onshore reconciliations, cash management and MI functions. The incumbent will need to ensure robust risk governance, identifying and responding to emerging risks, undertaking in-depth risk analysis, instigating change and driving strategic resolution together with CCO, Global Markets Operations and the Business. Oversight of key metrics and controls is required to ensure accurate trade validation, confirmation, settlement, investigation, cashflow projections and account substantiation. In addition, the candidate will need to ensure that Financial Crime (FC) risk is managed effectively within the Global Markets Operations structure given the elevated risk due to the proximity of
high FC risk countries.
The effective management and prioritization of direct and allocated indirect expenses based on the agreed budget is
key.
Creating capacity for business growth within existing headcount wherever possible and working in partnership with
global teams, finance, COO and front office desks to streamline and automate processes. Best practice reviews
and engagement including the development of Target Operating Models (TOMs) and system/process architecture
design. Realignment and Offshoring of tasks and functions to create efficiencies and capacity. Driving a culture of
improvement for the GM Ops processes.
Exposure to the wider EMEA region as a member of the Head of EMEA GM
Operations ManCom will require an
ability to be connected and to work across borders as part of a transnational team to ensure consistency and
cohesiveness within the Regional GM Operations structure.
Risk Governance and Control
In partnership with onshore GMO team, and supported by Chief Control Office (CCO), oversee and monitor key
metrics on a daily basis to ensure consistency and effectiveness of control standards. Provide expertise to effect
credible challenge and support within the 1st LoD as well as providing an independent assessment and challenge
on the Operational Readiness of material changes to processes and flows. Provide check, challenge and support to
both Markets Operations and the business against open risk items and the regional risk appetite regarding people,
processes and systems.
Candidate will be primary face-off to Audit and Regulatory examiners, will have ownership of Incident/ Risk Event
Management and all resolutions arising, and will be responsible for the continuous monitoring and attestation of all
Ops managed controls.
The candidate will be expected to provide consultation challenge and expert guidance regarding risk event analysis,
investigation escalation and validation.
They are also expected to understand the impact of regional events on the
South Africa business. Also, review, interpretation and input into impact assessments regarding new or amended
policies and control standards.
Act with key local and regional stakeholders to review outputs from independent control reviews (Audit / Risk and
Control Assessments (RCA’s) etc) and input into actions to resolve agreed concerns. Where required, input to and
provide regional read-across of the assessment of RCAs, inherent risks and their potential impact across the business with particular attention to regional consistency. Assist appropriate stakeholders (e.g. Business, CCO,
senior GMO leadership, site leads) in the design of the “Future State” risk and control environment.
Oversee the coordination of data collation for external regulators / surveys as it relates to the regional footprint.
Creation of Business Performance Insights as appropriate to support the business and the region, including
predictive intelligence to support business decisions, including appropriately targeted MI to support business and
risk management.
Financial and Headcount Management
The candidate will perform / review oversight of GMOps cost and headcount on a regular basis in partnership with
the cost reporting function and the regional leads.
They will ensure that their teams are on track against their cost and AOP targets and check and challenges direct
and indirect cost allocations.
Candidate will be responsible for understanding and ensuring appropriate delivery of the yearly AOP budgeting
which will be executed by the Operations and cost management leads.
Candidate will be responsible for ensuring consistent and efficient resolution of cost challenges and stretch targets
as required when provided the direction by the Manager Global Markets Operations, EMEA Management Office.
Awareness of and ability to articulate the consolidated view of the Markets Operations footprint both on and offshore
for the appropriate sites.
Assist in the execution of any inbound/outbound boundary changes, new migrations and remigrations of activities
between locations.
Ensure that all teams under your remit are adopting and following the best practices in management of costs and
staff. This includes execution of the performance management cycle and pay review process by people managers
and ensuring there are succession and development plans in place across the regional footprint
Experience needed:
Relevant University Degree preferable.
10 years’ experience in an operational role.
Client focus – track record of understanding internal and external client needs and delivering business services
accordingly.
Sound knowledge of Global Markets Products, Processes and Flows. From flow products such as FX and Equities
through to more complex Derivative products. Understanding of functions and processes from the front office
through to the General Ledger including trading, sales, finance, client onboarding, on and offshore processes and
teams. Exposure and awareness of banking regulation change. Awareness of HSBC flows and network including
Retail Banking, Commercial Banking and Private Banking. Market knowledge. Good understanding of industry
technology/market developments and ability to leverage wider Industry opportunities
Company Description The client is a large investment bank with a fantastic global footprint. There exists a dynamic team within a dynamic company where growth and forward thinking are the ideas of the day
