Manager-Payment Services

Some careers open more doors than others. 

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further. 

We are currently seeking an experienced professional to join the Global Payment Solutions Operations, Mumbai.   

Our COO team delivers strategic execution for Corporate and Institutional Banking (CIB) across the globe. Through transformative data and digital solutions, customer servicing, and non-financial risk expertise, this team is where problems are solved, and careers are made.

CIB COO focuses on these key priorities:

• Protecting the bank, our customers and stakeholders by enhancing our operational resilience, strengthen our control environment, and improve risk management. 

• Driving operational excellence and efficiency by optimising our processes and delivering the transition to net zero in our own operations.  
 
• Enabling business growth exceptional service by enabling our businesses to focus on our competitive advantage and deliver transformation and digitisation across the bank. 

Job Introduction. 

Responsible to conduct day to day operations function & oversight / governance involving across all electronic payment such as Real Time Gross Settlement, National Electronic Funds Transfer, NACH, Tax Payouts (direct/indirect), digital payments like IMPS, UPI, Capital Market Operations…etc. 

• Manage and control daily operations and administration of the Payment unit (which includes remittance processing, regulatory filings, RBI liaison, investigations etc.) in order to achieve a high level of efficiency and customer service, which would help attain strategic and operating objectives of the Bank. 

• Monitor performance of employees, vendor staff in the unit 

• Ensure standardization of processes. Process notes to be updated on a regular basis. 

• To centralise regulatory filing activities at Mumbai as per RBI requirements. 

• Ensure an effective Business Continuity plan is in place for the unit. 

• Ensure day to day processes are run as per defined procedure notes and policies.  

• Ensure Daily Control Functional Checklist is updated by all team members and held on records. 

• Plan & supports split site locations to ensure staff shortage are monitored accordingly, to ensure NIL client / regulatory impact. 

• Plan & support during all RBI working days for smooth function of the unit, including extended sessions, with the existing resources. 

• Plan & create fungibility among various functions & sub function to manage unplanned leaves / peak volumes.  

• Guide the team to excel in all performance parameters which include cost management, key process performance indicators (TAT, accuracy etc.), customer satisfaction levels etc. 

• Maintain HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.  

• Implement the group compliance policy as applicable to his role. Should be aware of the Operational Risk scenarios associated with their role, and to ensure that all actions during their employment with HSBC, take account of the likelihood of operational risk occurring. 

• Monitoring performance of reporting staff with the help of Production management systems such as ICATS. 

Principal Responsibilities  

• Impact on the Business: By constantly reviewing processes and systems including controls without hampering business flexibility. Also, by acquiring thorough knowledge on FEMA, FEDAI, SWIFT and other regulatory guidelines to guide the team in processing the transactions. 

• Conduct User Acceptance Tests (UAT): Conduct User Acceptance Tests (UAT) for system amendments / up gradations. Provide accurate feedback on time, user friendliness, bugs etc observed in the systems. Obtain assistance from local technical services team on conducting these UATs. Attend discussion groups conducted by project leads for developments on the remittance products. 

• Business Continuity Plan (BCP): Develop a Business Continuity Plan (BCP) for remittance products and conduct regular tests while noting the system performance, system up time, user training etc. 

• Check whether the segregation of FIRCs to be printed on a security paper and letter head is in compliance with FEDAI and RBI guidelines, basis the purpose provided by the remitter/beneficiary of the remittance. 

• Check the issuance of duplicate FIRCs, third bank FIRCs and arranging FIRCs for HSBC INM customers by liaising with third banks 

• Ensure all the policies and procedures with regards to issuance of FIRCs are being adhered scrupulously 

• Ensure KYC for FDI transactions are issued as per extant guidelines and arranging KYCs for HSBC INM customers by liaising with third banks. 

• Cost Management: Monitor costs on an ongoing basis and strive to reduce and optimize operations resources. Implement lean methodologies to continuously reduce ‘waste’ and identify areas of revenue leakage 

• Customers / Stakeholders: By ensuring that the transactions are processed as per laid down guidelines within the agreed Service Levels with the various businesses.  Monitoring the customer complaints and relating them to the processes where applicable to bring about improvements. Liaise with internal customers (business groups & GLCM team) to understand delivery requirements with regards to the remittance’s products. Support significant customization within the product limitations and provide regular feedback to develop / improvise new products 

• Leadership & Teamwork: Monitor performance of the staff and create a culture of learning and growth in the unit. Identify training needs for staff and ensure that minimum training days requirements is met. By ensuring all staff is conversant with the procedure laid down in BIM, DIMs, FIMs & relevant regulations. Backups to be created for every type of activity in the unit. Also preparing a backup for self in the unit. 

• Operational Effectiveness & Control: By complying with internal and external guidelines whilst processing the transactions and other guidelines provided by compliance. By monitoring the operational loss event occurrence and impact and take corrective action to minimize the occurrence and impacts. Ensure timely implementation of audit points (both internal and external) in the unit. By ensuring that all the returns due, from the department are prepared accurately and within the stipulated time limits 

• Risk Management: The job holder must ensure that all internal (FIM/BIM, Internal Compliance and Audit) and external (RBI regulations) guidelines are followed. A key risk aspect where the job holder is expected to provide leadership is Fraud risk and information security risk.  Identify risk mitigants & steps to ensure NIL OPR’s. Ensure risk ids in Orion are reviewed periodically.  Maintain awareness of operational risk and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting in accordance with section 4 of the Group Operations FIM.   

• Observation of Internal Controls: Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators. Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, and optimizing relations with regulators. 

• Managing within the regulatory framework to avoid any reputational impact on the Bank is a major challenge.  

• To develop a service delivery model for such regulatory processes which from time to time are passed on from RBI to Authorized Dealers. 

• Balance the customer's requirements and expectation with RBI's delivery model.  

• Liaise and interact with all Customer Groups. An increasing business focus on Payments from LOBs and GLCM products requires the job holder to manage business expectations and at the same time keep the costs low and productivity high. 

• Understanding of the FEMA framework and its interpretation. The job holder is expected to communicate effectively with all stakeholders to ensure that customer's expectation is met and at the same time no compromise is made to the Bank's position. Manage a team of officers and unionized staff. The growing workload needs to be handled with utmost efficiency / accuracy and the staff are motivated to project a good image of the department, bank and group as a whole. Analytical thinking is necessary for constant improvement of processes by identifying areas of weakness from the information and feedback received from processing and client servicing. 

Role Requirements / Education Qualifications / Certifications / Experience: 

This role requires 3-5 years of overall Banking exposure with 2 years of specialized experience in managing Payments Operations. Skills required for success are:  

• FEMA knowledge (Preferably FEDAI certified) 

• People and Stakeholders Management. 

• Strong Communication and decision-making ability 

• Thinking and Problem-solving skills. 
• Customer Drive.  

You’ll achieve more at HSBC.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment.

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Issued by The Hongkong and Shanghai Banking Corporation Limited, India

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