Manager Payment Service

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.    

GCOO Operations is a leader in the development of services and processes that are designed around the customer and enable the firm to demonstrate to regulators that its processes and ways of working will deliver consistently high standards of compliance. Every day, customers all over the world are paying bills, buying homes and setting up companies and every day, Global Operations teams are making sure all this happens smoothly.   

We are currently seeking an experienced professional to join the Remittances Operations team, Mumbai.

Job Introduction.

·        Manage and control daily operations and administration of the remittance 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 and unionized staff in the given 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.

·        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 minimise 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 follo