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Operations Associate - Payments - Buffalo, NY #6682453

Company: HSBC

Date: 08/16/2019

Category: Restaurant / Food Services

City: Buffalo, NY


Overall Summary of the Job

  • Perform the daily operational functions of thePayment and Trade Service department

  • Maintain and monitor FX deals to ensure proper settlement, execute FXTrade with a wire. Maintain a daily log of all deals, transfers and paymentorders. Daily review and verification of the Nostro, TLM reconciliation, andbalances. Investigate overdrafts in clients DDA and Nostro accounts

  • Monitor and address all incoming emails to the IPB Forex Control mailbox

  • Assist the Payment Supervisor

  • Support all currency payment teams onshore and offshore to resolveissues submitted, as well as the Investigation team.

  • Support the payment area as needed by cross training in the various jobfunctions. Verify that payment instruction are in compliance with the bank’sprocedures. Investigate inquiries of same day payments.

  • Additional responsibilities are to performother department functions and assist other Operations groups as needed.

  • To maintain HSBC internal control standards,including timely implementation of internal and external audit points togetherwith any issues raised by external regulators. Any failures to comply with theabove should be reflected in yearend performance assessments.

  • Thisposition works closely with the various Operations teams in Buffalo, NY, Miami,and offshore service centers, in addition to business partners in InformationTechnology, Front Office, Compliance, Legal, and Management at all levels. Therole requires constant follow up and monitoring, dependencies on other areas toaccomplish results, and excellent time management and organizationalskills. Effective communication skills,both verbal and written are also essential.

  • Toprovide operational support and exceptional service to the Front Office /clients, and various internal groups while delivering reliability, quality,consistency and minimizing all associated risks.

  • Allfunctions are performed with the understanding and Compliance with theFunctional Instruction Manual (FIM), Department Procedures and Auditrequirements.

PrimaryResponsibilities / Essential Functions

  • Dealdirectly with internal clients and business areas either by telephone,electronically, or face to face

  • Respondpromptly to customer inquiries in a professional manner

  • Liaisebetween Operations and Relationship Managers as well as other business partnersin Risk, Compliance, and Legal.

  • Assistmanagement with identifying process improvements and work flow changes toimprove customer experience and process efficiencies.

  • Providecustomer service and assistance to Relationship Managers on investigations, andgeneral support.

  • Ensurepolicies and procedures are current and consistent with various Bankrequirements. Minimum of an annual certification required.

  • Ensureproper controls are in place to mitigate risks or exposure to the firm.

  • Monitorand evaluate the adequacy of existing services provided and related proceduresand look to make improvements

  • Provideassistance with system testing, and implementation of special Projects

  • Responsiblefor effective implementation of new procedures, systems, process changes, andinitiatives impacting the payment operations in general

  • Daily EOD settlement and verification.

  • Provide oversight for the Offshore GSC teams, escalate to managementaccordingly.

  • Research inquiries on same day payments transactions.

  • Verification and release of all payment entries done on the paymentssystems.

  • Assist in functionality of all equipment, SWIFT. Any systems problemsmust be addressed immediately to guarantee processing of the payments.

  • Support and provide a high level of quality service to Relationshipmanagers / Front Office.

  • Provide adequate training to the staff.

  • Review yearly Goals and Objectives, and Year End self-evaluations.

  • Additional responsibilities are to support other Operations departments’functions, as needed.

  • To maintain HSBC internal control standards,including timely implementation of internal and external audit points togetherwith any issues raised by external regulators.

  • Monitor FX deals to ensure proper settlement. Verify daily log of alldeals, transfers and payment orders

  • Review daily reconciliation and investigation of the Nostro and Suspenseaccounts

Decision-Making Responsibility

  • Performaccording to prescribed procedures and within scope of authority

  • Responsibleto determine the correct actions to reduce operational risks related to day today functions.

  • Makeappropriate decisions when necessary to efficiently resolve issues / complaintssubmitted by RM’s / other areas.

  • Mustuse good judgment in communicating issues to management attention andescalating matter(s) when warranted, including having to contact 3rd parties attimes to facilitate resolution.

  • Rejecting payment requests not in full compliancewith procedures or appears not to be in compliance with Regulatory requirements,Anti Money Laundering Programs. Consult with the department managerimmediately.

  • Escalate exceptions for overriding procedures toprocess wire transfer.

  • Propose changes in procedures and/or workflows.

  • Training courses and cross training of staff.


  • Sufficientbusiness / technical skills to assist with all processes in the paymentdepartment.

  • Agood understanding of policy and procedures, Instruction Manuals, and InternalAudit recommendations.

  • Mustbe able to ensure proper controls are in place to mitigate risks, protectinformation security, and minimize errors.

  • Mustbe able to adapt to the changing needs of the business and enhance clientservice.

  • Ableto understand the risk implications of various operational issues be able tocome up with solutions.

  • Analyticalability to evaluate the root causes of the problems and come up with quicksolutions to avoid any client dissatisfaction. The individual should have aminimum of 3 years of experience working in Bank operations with payments,foreign exchange, and Middle Office capacity.

  • Musthave excellent communication skills, both written and verbal, with goodlistening skills. Must show politeness and professionalism when dealing withclients and willingness to help. Strongattention to detail. They must be highly organized, self-starter, dynamic anddemonstrate initiative in enhancing processes. They must be able to workcomfortably in a team environment or independently, and have tolerance for highpressure situations. They must alsodemonstrate strong time management skills and be able effectively multi-task toensure deadlines and expectations are met.

  • AdvancedPC / technical skills including MS Excel, Access

  • Musttake the concept of information security and client confidentiality veryseriously

  • Abilityto influence others to achieve set deliverables

  • Sufficientaccounting skills to avoid any risks related to incorrect booking oftransactions.

  • Skillsto initiate and run Projects.

  • Knowledgeof FX both from the operations and trading.


Job Field: Operations

Primary Location: North America-United States-New York-Buffalo

Schedule Full-time

Shift Day Job

Type of Vacancy Country vacancy

Req ID: 0000DFWZ

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