Head of Settlement - Large Chinese Securities Firm

Job Description

1. End-to-End Clearing & Settlement Management

• Full-Lifecycle Oversight: Oversee comprehensive clearing and settlement operations across multi-market and multi-asset financial products-including HK equities, A-shares (Stock Connect), US equities, futures, options, CBBCs, ETFs, bonds, and funds-ensuring the accurate transfer of funds and securities.

• Daily Operations: Monitor daily reconciliations, fund transfers, and securities settlements; promptly resolve clearing discrepancies to ensure accurate and timely settlement.

• Corporate Actions: Process corporate actions including dividend distributions, rights issues, stock splits, and reverse splits, ensuring precise execution.

• System Operations & Reporting: Manage the daily operations of core clearing and settlement systems, and produce clearing operational reports.

• Cost Control: Manage and control clearing operational costs.

2. Risk, Compliance & System Support

• Risk & Compliance Control: Lead risk management across operational and trading workflows; conduct regular compliance checks to ensure adherence to regulatory requirements such as AML and KYC.

• Regulatory Reporting & Audits: Manage and submit relevant regulatory reports, and assist with internal and external audits.

• System Maintenance & Upgrades: Collaborate with the IT department to maintain the stable operation of clearing systems (including CCASS, DCASS, etc.); optimize system functionalities to support business growth; actively participate in system upgrades, UAT testing, and new system rollouts.

3. Department Management & Process Optimization

• Departmental Oversight: Oversee the overall daily operations of the Settlement Department.

• Team & Workflow Optimization: Set team goals and performance evaluation standards; optimize trade clearing and account management workflows to ensure full compliance with regulatory requirements of the SFC (Securities and Futures Commission) and HKEX (Hong Kong Exchanges and Clearing).

• Framework Enhancement: Establish and continuously refine internal operating guidelines, contingency plans, and risk control mechanisms to elevate operational efficiency and risk management standards.

4. Cross-Departmental Coordination & External Stakeholder Engagement

• Internal Collaboration: Work closely with front-office trading, risk management, finance, and other departments to resolve cross-functional issues.

• External Liaison: Serve as the main point of contact for external institutions such as HKSCC (Hong Kong Securities Clearing Company), HKEX, custodian banks, and brokers to handle settlement exceptions and disputes.

• Client Solutions: Provide institutional clients with clearing rule consultations, workflow support, and problem resolution.

Job Requirements

1. Education & Qualifications

• Education: Bachelor's degree or above in Finance, Economics, Business Administration, or a related discipline.

• Licensing: Holder of SFC Type 1 / Type 4 license(s) or equivalent qualifications.

2. Work Experience

• Industry Experience: 8-10 years of experience in operations, clearing, trading, or client service within the Hong Kong securities industry, including 3+ years of experience in both HK and US equity markets.

• Leadership Experience: 3-5 years of cross-functional team management experience.

• Market Knowledge: In-depth familiarity with the full lifecycle trading process of multi-market/multi-asset financial products and the Hong Kong regulatory framework (SFC and HKEX rules).

3. Professional Skills

• System Expertise: Deep understanding of clearing and settlement system architecture and operations.

• Risk & Compliance: Proficient in risk control (AML/KYC) and regulatory compliance requirements.

• Efficiency Focus: Demonstrated capability in process optimization, with the ability to leverage digital tools to drive operational efficiency.

4. Language Skills

• Languages: Fluent in English and Cantonese (both written and spoken).

• Fluency in Mandarin is preferred.