Manager Payment Service

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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.

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:

Conduct User Acceptance Tests (UAT):

Business Continuity Plan (BCP):

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:

Customers / Stakeholders:

Leadership & Teamwork:

Operational Effectiveness & Control

Risk Management:

Observation of Internal Controls:

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 Authorised Dealers.

Balance the customers requirement and expectation with RBIs delivery model.

Liaise and interact with all Customer Groups. An increasing business focus on remittances 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.