Reconciliations Analyst

Business: Business Reconciliation Control Services

Open positions: 1

Role Title: Reconciliations Analyst

Global Career Band: 8

Location (Country / City ): Philippines / Quezon City

Recruiter Name : Candy Tumanan

Why join us?

Business Reconciliation Control Services provides reconciliation services to multiple HSBC Business Lines including Wealth and Personal Banking (WPB), Commercial Banking (CMB), Global Banking (GB), and Global Finance operations.

Spread across 12 countries and 17 locations, our teams reconcile more than 378,000 accounts on a daily basis covering almost 40 million transaction lifecycles per month, using multiple reconciliations tools, for customers across 50 countries globally. Our teams also substantiate and certify more than 35,000 account combinations through Assurenet on a monthly basis.

Given the heavy fines and penalties banks have had to pay for their inability to administer adequate governance over reconciliation, especially around client money and stocks, our reconciliation teams play a critical role in preventing the reputational and financial risk, associated with lack of regulatory compliance.

Above all, given the breadth of scope the reconciliation process has, a role in reconciliation opens up a lot of opportunities for growth, and end-to-end understanding and expertise of HSBC business and it's underlying products.

The Opportunity:

The Reconciliations Analyst is responsible to do daily/weekly/monthly cash, securities & Fund reconciliations to ensure all breaks are identified and cleared in a timely basis. He/she must be able to escalate breaks that are long outstanding and ensure timely monitoring.

What you'll do:

• Perform reconciliation tasks on cash balances, security / bullion movements and holdings, outstanding derivative positions either using system tools or manually
• Carry out primary level of investigation on discrepancies / un-reconciled breaks and assign cases to relevant product teams via workflow or detailed reports
• Monitor the status of outstanding cases and ensure that appropriate actions are being taken by product teams
• Conduct user acceptance test before the launch of new products / systems or strategic initiatives
• Contribute proactively to the improvement of operational efficiency and quality of work within the team

What you will need to succeed in the role?

• Excellent attention to detail
• Strong analytical skills
• Strong communication skills in English, both written and verbal
• Strong aptitude to understand the underlying banking and investment products being reconciled
• Able to work within tight deadlines, and with multiple and simultaneous process concerns
• Able to work independently whilst being part of a larger team
• Considerable flexibility in working varying shifts to support European and Asian business hours

What additional skills will be good to have?

• Prior experience in reconciling cash and securities transactions and holdings
• Understanding of banking and investment products

You'll achieve more at HSBC

HSBC is an equal opportunity employer 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. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role."

Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued By HSBC Electronic Data Processing (Philippines) Inc.

• The information contained in this job description is a true and accurate reflection of the job as specified.