Product Development Analyst

JOB DESCRIPTION:

This role is supporting OTC Clearing. The U.S. Securities and Exchange Commission (“SEC”) has adopted rules (“Treasury Clearing Rules”) that will require the central clearing of certain cash U.S. Treasury security transactions and U.S. Treasury repos by the end of 2026 as part of the OTC Clearing Product Development team the purpose of the role is to deliver implementation of US Treasury clearing product offering in the bank.

Principal Accountabilities:

Key activities and decision-making areas

Impact on the Business

•Participate in front to back product design and implementation.

•Document, track and report on the front to back product launch or release plan on a weekly basis

•Support the Operating Model design for each functional and product release to ensure all impacted parties fully understand their role in the process

•Ensure the front office Client Solutions operating model and process design is fully supported through training and testing

•Support sales and client onboarding with SME knowledge

•Support regulatory reporting change delivery

Customers / Stakeholders

Working closely with front to back stakeholders (including external parties like Clearing house, as well as internal departments in the bank – finance, accounting, Risk, IT) to agree on the specification, timing and delivery of cross functional services.

Leadership & Teamwork

Working with front to back stakeholders to ensure there is a mutual understanding of what is required to be delivered and when

Operational Effectiveness & Control

Ensure appropriate operating controls are put in place prior to go live, including such areas as reconciliations, etc

Typical Key Performance Indicators and Targets

•Delivery of product changes on target

•Product changes are fully tested front to back and signed off meeting HSBC testing standards

•Client Solutions and other functional teams fully understand and can deliver the processes from release

•All functional process owners are aware of the role they need to play in the product delivery, have clear plans to deliver, and deliver on schedule

Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)

•Ensuring the resultant front to back stakeholders are clear on what they need to deliver and when

•Driving consensus on build work needed

Role Context

(The environment and operating conditions of the role including the extent of guidance and authority)

The U.S. Securities and Exchange Commission (“SEC”) has adopted rules (“Treasury Clearing Rules”) that will require

the central clearing of certain cash U.S. Treasury security transactions and U.S. Treasury repos by the end of 2026.

Successful applicant will be expected as part of OTC Product Development team to work with various stakeholders both internal (Finance, Accounting, IT, Legal, Operations, Capital policy etc) and external (Clearing house, vendors) in order to implement FICC Agency clearing of US repos and treasuries product offering in OTC Client Clearing business in the bank.

Management of Risk (Operational Risk / FIM requirements)

•Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.

Observation of Internal Controls (Compliance Policy / FIM requirements)

•Maintains the bank's internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

•Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.