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Job Overview

Category

CA, CFA, CMA, MCOM/BCOM, CS

Job Role

Audit Executive

Gender preferred

No Preferences

Functional Area

Audit & Control

Work preferred

Work from Office

Qualification

Graduation

Any Graduation

Post Graduation

Any Post Graduation

Description

The health and safety of our employees and candidates is very important to us. Due to the current situation related to the Novel Coronavirus (COVID-19), we’re leveraging our digital capabilities to ensure we can continue to recruit top talent at HSBC. As your application progresses, you may be asked to use one of our digital tools to help you through your recruitment journey. If so, one of our Resourcing colleagues will explain how our video-interviewing technology will be used throughout the recruitment process and will be on hand to answer any questions you might have.

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.

Wealth and Personal Banking (WPB) is our new global business combining Retail Banking and Wealth Management; and Global Private Banking, to become one of the world’s largest global wealth managers with USD1.4 trillion in assets. Across Asia, where wealth pools are growing faster than in any other region, HSBC’s wealth revenues grew 12% in 2019 (year-on-year) to USD5.7 billion. Our dedicated colleagues serve millions of customers worldwide across the entire spectrum of private wealth, ranging from personal banking individuals and families, through to business owners, investors and ultra-high-net-worth individuals. We provide products and services such as bank accounts, credit cards, personal loans and mortgages, as well as asset management, insurance, wealth management and private banking that best suit our customers’ needs.

We are currently seeking an experienced professional to join the INM WPB team.

Role Purpose

  • Be the VRM for Debt Collection Agency / Agencies (DCA).
  • Implement C19 standards while providing direction & support to the External Vendors.
  • Enhance collection / recovery to help reduce / minimize credit loss.
  • Act as the liaison point for Legal counsel(s) assisting debt collections.
  • Manage “Risk” by way of identification & assessment and to mitigate such risk by implementing agreed strategy and by exercising good control.
  • To ensure Bank’s laid down processes & polices are followed and customer fairness principles are adhered to all the time.
  • Drive performance of External vendors matched against expected delinquency, MRR Flow Rate & Loss rate.
  • To maintain, HSBC’s internal control standards, including the timely implementation of internal & external audit points together with any issues raised by any external regulators.

Principal Accountabilities

Impact on the Business / Function

  • Maximize collections of debts & to monitor delinquent portfolio
  • Set monthly / quarterly targets for the DCA in line with business requirement.
  • External Debt Collection Agencies (DCA’s) are motivated to achieve the set targets in terms of MRR, GCL & Provision releases & saves while remaining aligned to our operating principles.
  • Identifying accounts and initiating legal action under SARFAESI/CIVIL/DRT.
  • Implement C19 and C23 standards to help mitigate conduct and reputation related risks.
  • Upkeep of performance records for the month inclusive of Live sheet.
  • To extend support to External Debt Collection Agencies (DCA’s) in helping them imbibe and follow HSBC’s Customer Fairness Principles.
  • Participate and lead negotiations with customers on a need basis.
  • Conduct audit checks and provide timely, formal feedback to DCAs.

Customers / Stakeholders

  • To ensure all customer complaints are documented and resolved within a defined TAT.
  • To ensure all customers are treated fairly as per Customer fairness Principles & deviation noted to be escalated.

Leadership & Teamwork

  • Highlight performance / nonperformance & non adherence of process & policies if any and guide DCA(s) towards continued improvement

Operational Effectiveness & Control

  • Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators.
  • To ensure all the Information Security Risk (ISR) guidelines are adhered by the DCA.
  • Run business in accordance with all guidelines and instructions covered under DIM , BIM, LCM, DCA guidelines and Customer Fairness Principles
  • Achieve satisfactory audit ratings with neither any major repeat recommendations nor any adverse findings from external auditors or any compliance review.
  • Respond all customer service escalations within 24 hours of notice and escalate the same to Customer Complaints team and ensure Upheld complaints don’t exceed the agreed threshold.
  • Analyze the portfolio and provide feedback to the risk department in terms of fraud accounts
  • Ensure Implementation of the PVC policy.
  • UAR’s to be raised appropriately
  • regularly monitor Service Providers’ service levels and costs by maintaining and regularly updating a management information system (MIS)
  • handle day-to-day concerns and complaints, escalating issues to local GPU (if it exists), and Outsourcing Manager or to the relevant business managers as appropriate
  • check accuracy of billings (sign off on the billings) before obtaining approval for payment
  • review contract provisions and ensure that these are still relevant
  • perform at least an annual risk evaluation and mitigation analysis with regard to the outsourced activity. Conduct an annual review of the Service Providers’ financial capacity to support the outsourced activity (leverage and gearing ratios, net worth or capital, operating cash flows or liquidity) and file these reviews together with the financial statements
  • Perform all First LoD activities on timely basis.

Major Challenges

  • The jobholder needs to ensure standards relating to C19 and C23 are well imbibed and abided by DCAs.
  • Keeping CFP core to our overall collections approach.

Role Context

  • The role principally is that of a VRM with policies and processes to be followed being well documented. The job holder is empowered to guide vendors on customer related offers / settlements and lead negotiations with customers.

Management of Risk

  • Demonstrate leadership on Regulatory & Compliance matters. Maintain awareness of operational risk and minimize the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting in accordance with section B.1.2 of the Group Operations FIM.

Internal Controls

  • Maintain and observe HSBC internal control standards, implement and observe Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators. Foster a compliance culture and implement Group Compliance Policy by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, and optimising relations with regulators

Role Dimensions

  • The jobholder is responsible to manage the delinquent portfolio and minimize losses defined as the net B&D charge for RBWM business in the respective location.
  • (S)He is also responsible for the operations of external debt collections agency in compliance with standards prescribed / detailed under collections C19 and C23 initiatives.
Requirements

  • Minimum Bachelor’s degree / Graduation or as required for the role whichever is higher.
  • Two to five years of experience.

Additional Information

  • Mandatory to successfully complete Anti-Money Laundering and Sanctions training and post-course assessment, as required.

Useful Link

Link to Careers Site: Click HERE

You’ll achieve more when you join HSBC.

HSBC is 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.

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 The Hongkong and Shanghai Banking Corporation Limited, India

Skills

BankingCollectionLegalComplianceOperations

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