Location
Bangalore | India
Job description
Job Description
Business: Markets & Securities Services Operations
Open positions: 1
Role Title: VP- Fund Tax Operations
Global Career Band: 4
Location (Country / City ) : India/Bangalore
Recruiter Name : Thanvi Mathur
The Opportunity:
- Tax Operations provides operational tax services to MSS Operations covering the Markets, Custody and Funds Globally, and supported in the GSC. This role covers 2 key aspects. (1) Being the head of the function in the GSC and (2) The Head of Operational Product Integration.
- As GSC Head of the function the incumbent will drive the implementation of the Tax offshoring strategy, ensure that all locations are appropriately risk managed, resourced and connected to their Global teams. This includes managing the Regional Financial plan, budget, hiring etc.
- As Head of Operational Product Integration the incumbent will act a key point of coordination and interface between the Tax Operations teams, Group Tax, Tax Product in the business, IT, Change, NFR controls team.
What you’ll do:
Key responsibilities will be to ensure that:
- Tax Operations service catalogue is defined and articulates all key processes in the function
- That all key Regulatory obligations are understood in conjunction with Group Tax and Tax Product teams
- That the tax product offering is clearly understood and core capabilities that underpin this are mapped and measured and any delta is understood and substantiated or developed
- All downstream change, digitisation, automation and process reengineering is in line with above requirements and at all times delivers on both internal and client obligations and requirements
- Delivering the product agenda is at all times in step with NFR requirements
- The requirements of Tax Operations in Change the Bank (CTB) change programmes aligned to the 2025 MSS Operations Strategy (RUBIX) are championed
In this role, you will:
- Take a strategic view of MSS Business requirements and subsequent impact to Operations and provision of tax services
- Demonstrate new ways of thinking to improve performance, Drive change with energy and enthusiasm, Have the ability to communicate clearly, concisely and optimally, Identify opportunities to implement scalable solutions that improve efficiency, and or client experience, Inspire and motivate others to achieve their goals and objectives.
Impact on the Business
- Delivering a robust, complete and standardised service catalogue for the function
- Establishing senior relationships across key stakeholders as interface between these and the function
- Guidance / Sponsorship on Process Improvement opportunities within the department and beyond
- Contribute to strategic decision making for operational processes and help to drive business enhancement and growth
- Continued adherence and governance with internal control framework in Operations to ensure the strength of our internal control environment within operations
- Deliver Tax offshoring strategy in the GSC
Typical KPIs and Targets
- Fully locked down service catalogue with capability measures
- Strategic input into the target operating model ensuring in step with key stakeholders and objectives
- Champion process improvement mind-set, challenge performance inefficiencies and drive change – facilitating the delivery of the change agenda
- Work with Stakeholders on cross asset initiatives representing Tax Operations and providing input/feedback.
- Completed and delivered migrations plan
Customers / Stakeholders
- Develops close and effective working relationships with the all key stakeholders/clients, globally, and with our active and potential client base.
- Builds close links to key stakeholders in other parts of the MSS Business and related Functions
Typical KPIs and Targets
- Feedback from operations partners and key stakeholders
- Liaise regularly, encourage any issues to be raised and ensure all necessary action is taken
Leadership & Teamwork
- Is skilled in operating in a complex global matrix organisation, delivering business results through influencing, building consensus around common purposes, collaborating on solutions, and dealing with conflict situations.
- Ability and gravitas to work at a peer level with operations and business management teams. Able to robustly stand up to challenges from senior management. Holds individuals accountable, and influences seniors appropriately.
- Ability to communicate concisely and effectively, providing insight and summaries, using formal structured channels and other less formal mechanisms
- Sufficiently senior to have a ‘viewpoint’ and opinion as well as working with clients, operational and business teams to reach consensus.
Typical KPIs and Targets
- Positive engagement and participation with key stakeholders in executing Tax Operations strategy and initiatives
Operational Effectiveness & Control
- Drive the aligning of operating and quality control processes for Tax Operations globally.
- Provide input on the development of relevant policies and control best practices.
- Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which you are involved, specifically Internal Controls and all relevant market regulatory considerations.
- Maintain HSBC Internal Control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.
Typical KPIs and Targets
- Ensure that Tax Operations is aligned to Regulatory agenda and that all key global Regulatory changes are understood and planned for
Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)
- Working with a diverse and varied set of key stakeholders, influencing key decisions in an environment where there will be differing goals and objectives
- Keep abreast with the latest development in the rules and regulations by the regulators of the various markets and to identify the implications involved to the team.
- Drive client agenda in the team, ensuring we are delivering premium Client experience.
- Ensure IT deliveries and change programmes meet both client and team needs
- Drive a culture of digitisation and metrics / data adoption
- Standardise processes in a divergent function
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
- The candidate will be expected to be a strong communicator - need to liaise with both internal and external clients and escalate issues where required.
- The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
- Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.
Management of Risk (Operational Risk / FIM requirements)
- Be aware of the Operational Risk scenarios associated with the role and act in a manner that takes account of operational risk considerations
- Incumbent must proactively drive the identification, assessment, mitigation of operational risk
- Incumbent must be aware of the operational risk impacts associated with deficient operations processes and risk impacts due to changes to operations processes and/or technology supporting operations processing
- Incumbent must critically assess existing or proposed processes and escalate identified risks
Observation of Internal Controls (Compliance Policy / FIM requirements)
- Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
- Refer to FIM and desk procedure document
- The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
- The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
- This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators
Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. in USD’000)
- All impacted global businesses, products and balance sheets
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