Dear Colleague Welcome to HSBC Bank - HSBC careers site

Dear Colleague 

Welcome to HSBC Bank (the “bank”). I would like to wish you every success during 

your employment, whether you have recently joined the bank or whether you are an 

existing employee. 

This Employee Handbook (the “Handbook”) applies only to employees working for: 

• HSBC Bank plc on the Channel Islands or the Isle of Man (“Offshore 

Islands”); 

• HSBC Bank International Limited (“HBIB”) on the Offshore Islands; 

• HSBC International Financial Advisers (UK) Limited (“HIUL”) whether based 

in the UK or the Offshore Islands. 

Unless stated otherwise in their secondment documentation, this Handbook does not 

apply to individuals who are seconded from elsewhere within the HSBC Group to any 

of the above. 

The Handbook is designed both to introduce you to the bank and to be of continuing 

use during your employment with the bank. 

Together with your offer letter, the Handbook sets out the terms and conditions of your 

employment, guidance on the high standards of conduct that are expected of you and 

some of the main employee benefits which may be available to you. The Handbook 

also provides you with information on where to find the main policies and procedures 

that will affect your employment, which, for the most part, are contained in the HR 

Procedures Manual which can be found on the bank’s intranet site. 

The Handbook is therefore an important document and it is essential that you read the 

Handbook thoroughly and carefully before accepting an offer of employment with the 

bank or, if you are a current employee, as soon as possible after the Handbook is issued. 

Unlike previously, paper copies of the Handbook will not be issued. Instead, this 

Handbook will only be available via the bank’s intranet or recruitment website. This 

will allow the bank to keep the Handbook up to date and reflects the bank’s policy of 

minimising paper products. 

General amendments to the Handbook will be issued from time to time by circular. As 

these amendments may revise your contract of employment it is essential that you refer 

to the Handbook, as set out on the bank’s intranet, and familiarise yourself with these 

amendments. 

I hope that you will find the information contained in the Handbook both informative 

and helpful. If you require clarification or any additional information please refer to 

your line manager. 

Julie Harding 

Head of Human Resources 

HSBC Bank plc 

1

ABOUT THE HANDBOOK 

The purpose of the Handbook is to: 

• set out and clarify the terms and conditions of employment; 

• set out and clarify the rules and regulations which you must abide by; 

• summarise the benefits you may be entitled to; and 

• set out some of the main issues which may be of interest to you during your 

employment, 

so that you may know what is expected of you and what you can expect from your 

colleagues and the bank. 

The Handbook is divided into a number of sections: 

Introduction 

This section explains the importance of the Handbook and introduces the various 

sections of the Handbook and other HR Resources. 

Section 1 - Terms and Conditions of Employment 

This section, together with your offer letter (as amended by any subsequent 

communications from the bank), solely form the terms and conditions of your 

employment. It therefore sets out important information on the rights and obligations 

which apply during the course of your employment. 

For the avoidance of doubt, references in this Handbook to your ‘offer letter’ mean any 

letter or document (other than the Handbook) issued to you by the bank that is 

expressly stated to form or constitute part of your terms and conditions of employment 

and/or employment contract (and as may have been amended by any subsequent 

communications from the bank). 

Section 2 – Code of Business Ethics and Responsible Behaviour 

The Code of Business Ethics and Responsible Behaviour deals with and provides 

guidance on the standards of behaviour that the bank expects of all employees. 

Section 3 – Rules and Regulations 

This section sets out important information about the standards of conduct which you 

must abide by as an employee, and which you should expect from your colleagues. 

Section 4 - Benefits 

Section 4 of the Handbook outlines some of the benefits which you may have access to 

during your employment and sets out where further information can be obtained in 

respect of each benefit. 

Section 5 – Your Career with the bank 

This section sets out information on training, development and employee representation 

and other matters which may be relevant during your career with the bank. 

2

Section 6 – Security of Employment 

This section outlines how the bank seeks to provide security of employment for its 

employees and contains information on the Security of Employment Policy currently in 

place. 

Separate handbooks are issued for employees in other parts of the HSBC Group, e.g. 

HSBC Treasury and Capital Markets, first direct and those employees working in the 

UK for HSBC Bank plc. The parent company of the Group, HSBC Holdings plc, also 

issues its own handbook for its employees. For the avoidance of doubt, these 

handbooks do not apply to you. 

This Handbook supersedes earlier versions of the employee handbook (or “Let’s Work 

Together”) which may be referred to in your current offer letter from the bank. All 

references in such documents to earlier handbooks, including “Let’s Work Together”, 

should now be taken to refer to this Handbook. 

About HR Procedures, Policies and other HR Documents 

The Human Resources Procedures Manual (the "HR Procedures Manual"), which can 

be found on the bank's intranet site, contains the bank’s principal HR policies and 

procedures. You can navigate through the HR Procedures Manual by using the A-Z 

index. At the end of most sections of the HR Procedures Manual, there are "contact 

point" tables, so that you know who has the expertise to guide you with any specific 

issues. 

It is important that you take an opportunity within the first few weeks of your 

employment with the bank to familiarise yourself with the format and contents of the 

HR Procedures Manual. The HR Procedures Manual does not form part of your 

contract of employment and may be revised from time to time. 

Other sources of information are specific to certain situations, such as the ‘Maternity 

Guide’ or the ‘Business Instruction Manual – Compliance’ and are referred to either on 

the bank’s intranet or in the HR Procedures Manual. 

Where a matter is referred to in the Handbook and further information is contained in 

the HR Procedures Manual or other documents, directions to the appropriate document 

will normally be provided. Please note, however, that any documents referred to in this 

Handbook do not form part of your contract of employment (unless otherwise expressly 

stated) and are not incorporated into your contract of employment by reference. 

What is the difference between a policy and a procedure 

Most of the sources of information are referred to as ‘policies’ and/or ‘procedures’. A 

policy usually describes the bank’s approach to a certain issue. A procedure usually 

describes the process which the bank will follow in respect of a particular issue. Some 

subjects will have both a policy and a procedure, in other subjects the policy may form 

part of the procedure. 

Regardless of whether information on a particular subject is called a ‘policy’, a 

‘procedure’ or both, the key factor is that they set out guidance on how you should act 

and how the bank will act towards you. 

3

1. TERMS AND CONDITIONS 

This section of the Handbook, together with your offer letter (as amended by 

subsequent communications from the bank), form your terms and conditions of 

employment. In addition, they set out the details which the bank, as your employer, is 

required to give you under section 1 of the Employment Rights Act 1996 (for UK based 

employees), section 3 of the Employment (Jersey) Law 2003 (for Jersey based 

employees), the Conditions of Employment (Guernsey) Law 1985 (for Guernsey based 

employees) or the Employment Act 1991 and/or the Employment Act 2006 as amended 

(for employees based in the Isle of Man). 

For the avoidance of doubt, references in this Handbook to your ‘offer letter’ mean any 

letter or document (other than the Handbook) issued to you by the bank that is 

expressly stated to form or constitute part of your terms and conditions of employment 

and/or employment contract (and as may have been amended by any subsequent 

communications from the bank). 

1.1 Job Title 

Your current job title is as stated in your offer letter or subsequent communication from 

the bank, and may be amended periodically by notice to you in writing or by circular. 

1.2 Duties 

Your duties are as set out in your job description or as detailed to you by your line 

manager. However, you will need to take a flexible approach to your duties and in 

particular from time to time, you may be required to undertake such alternative or 

additional duties as may be commensurate with your grade. On occasions for training 

purposes or operational reasons, you may also be required to carry out duties at a higher 

or lower grade as necessary. 

Deputising in other grade duties is a developmental opportunity and a contribution to 

overall teamwork and customer service. When an employee deputises in a higher 

graded job, a payment may be made, by prior agreement and in accordance with the 

bank's rules as they may exist at the time. 

1.3 Grade 

All positions within the bank are given a grade or Global Career Band (GCB) allocated 

to a particular job by a process of job evaluation, which assesses and ranks jobs 

according to content. 

Grades for non-managerial employees are known as clerical grades and are prefixed by 

the letter S, followed by ‘0’ ‘B’ 'C' 'D' W' ‘K’ ‘J’ ‘L’ or ‘F’ which denotes the level of 

flexibility in your working hours. 

Your grade is initially stated in your offer letter and any changes will be notified to you 

in writing or by circular. In addition, set out below is a table of changes to grade names, 

which have taken place over the past few years. 

4

Clerical employees 

Previous 

Grade 

S03-5 

New 

Grade 

No 

change 

Business Area 

Bank wide 

B03-5 SB3-5 Branch Network 

Comments 

Individuals employed before the 

introduction of flexible contracts in their 

business area. 

New entrants after the introduction of 

flexible contracts. 

C91-92 SC3-5 Operations/Headquarters Individuals who accepted flexible terms. 

S91-92 SF3-5 Operations/Headquarters 

New entrants after the introduction of 

flexible contracts. 

Global Career Bands (GCB) for management employees and employees who work in 

regulated (known as ‘Salesforce’) positions are set out in the table below. 

Unlike clerical grades Global Career Bands (GCB) do not distinguish contracual terms 

and conditions. A seperate "contract type" code will be used to determine contractual 

terms and conditions as listed below. 

Your pay arrangements and eligibility for certain benefits will vary according to your 

grade, business area and your location. Any "red-circled" arrangements that may have 

previously applied to your terms and conditions or benefits whilst employed in a 

clerical grade shall normally end on your promotion to a management grade. 

Management employees 

Old 

Contract 

type 

GCB 

New 

Contract 

type 

Contract type/description 

M93 6 TA6 Individuals employed before the introduction of 

flexible contracts in their business area 











5



MB3 6 TB6 Branch Network - new entrants after the 

introduction of flexible contracts 





MD3 6 TD6 Milton Keynes Branch - new entrants after the 


EOO 6 ET6 Management trainee 

Offshore 

Old 

Contract 

type 

GCB 

New 

Contract 

type 

Contract type/description 

G93 6 OA6 Offshore International Wealth Management 

contract 


contract 


contract 

G96 4 OB4 Offshore International Wealth Management 

contract 

1.4 Pay 

1.4.1 Payments to you 

Your pay comprises a basic salary and any entitlement to other allowances as stated in 

your offer letter or other communication from the bank. Any changes will be notified 

to you in writing or by circular. Your basic salary is pensionable and any allowances 

are non-pensionable, unless otherwise stated. 

Payment will be made into an account in your name with the bank, in 12 equal monthly 

instalments on or around the 20 th of each month. This means that you will be paid in 

arrears for work done up to the 20 th of each month and in advance for working from the 

20 th to the end of the month. However, depending on the date in the month you join the 

bank, the payment period and/or date of your first salary payment may vary. Further 

6

details on this are set out in the HR Procedures Manual, which is available through the 

bank’s intranet. 

Salary and, where applicable, any allowances, accrue in respect of each hour or part 

thereof, which you work. 

Payment is subject in all cases to statutory deductions of income tax and such social 

security contributions, social insurance contributions or employee national insurance 

contributions as are applicable and any other deductions which the bank may be obliged 

to make. You will receive a monthly pay statement detailing gross pay and deductions. 

1.4.2 Bank Account 

It is a requirement of your employment that you maintain an account with the bank into 

which your salary will be paid. 

If a new HSBC account is being opened for this purpose, for new entrants working 

within centralised sites and the bank’s Headquarters this account will usually be 

domiciled within the National Sort Code (40-01-00). For new entrants working within 

the branch network, the account will usually be held at the branch where you are to 

work initially. 

1.4.3 Salary for Clerical Grades 

The bank reviews its current levels of pay each year and where appropriate seeks to 

agree through negotiation any changes with Unite. 

Any changes to your basic salary will be notified to you by letter, circular or in your 

monthly pay statement. In addition current pay bands applicable to your grade and/or 

area of work are set out in the Pay Matrices section on the Offshore intranet site. 

1.4.4 Salary for Management and Salesforce Grades/Bands 

The bank reviews its current levels of pay each year. Any changes to your basic salary 

will be notified to you by letter, circular or in your monthly pay statement. Current 

minimum salary levels applicable to management grade employees up to and including 

band GCB4, and minimum and target salaries for Salesforce grade employees are set 

out in the Rates – Salaries and Allowances section of the HR Procedures Manual which 

is available on the bank’s intranet. 

1.4.5 Incentive Schemes 

The bank currently operates performance related discretionary incentive schemes 

designed to reward employees according to their efforts and the achievements of the 

bank. The existence of and rules of the schemes are entirely discretionary and operate 

in accordance with non-contractual rules, which may be in place from time to time. 

Further information is detailed on the bank’s intranet or in the HR Procedures Manual. 

Separate incentive schemes apply to members of the regulated Salesforce and to Senior 

Managers. The existence of and rules of such schemes are also entirely discretionary 

and operate in accordance with non-contractual rules, which may be in place from time 

to time. Further details of such schemes will be communicated directly to such 

7

employees or will be set out on the bank’s intranet or in the HR Procedures Manual 

from time to time. 

1.4.6 Allowances 

You may be eligible for certain non–contractual allowances, as are applicable at the 

time. Your offer letter or subsequent communications from the bank will specify the 

type and level of any allowance to which you may be entitled. Any subsequent 

withdrawal or variation will be notified to you in writing or by circular. Further 

information is provided in the HR Procedures Manual (Allowances), which is available 

on the bank’s intranet. 

1.4.7 Overtime and Additional Hours 

Where you are required to work beyond your normal hours, payment will be made to 

clerical grade employees, in respect of any such hours, in accordance with the bank's 

rules on authorisation, eligibility and rates of pay. Overtime payments are nonpensionable 

and are not used in the calculation of any other benefits which are reliant 

on hours worked. 

Key time employees in clerical grades will not be eligible for overtime payments until 

they work more than 7 hours in one day or 35 hours in one week. Any hours worked by 

key time employees in clerical grades above their normal hours, but below the limits for 

overtime payments, will count as additional contractual hours (“Additional Hours”). 

Additional Hours are pensionable and will also be used in the calculation of any 

incentive payments, where any such payment is calculated on number of hours worked. 

No overtime payments will be made to management grade employees who work in 

excess of 35 hours in one week. In exceptional circumstances key time employees who 

are in a management grade, may be permitted to work Additional Hours, for which they 

will be remunerated as set out above in respect of clerical grade employees. 

Further details are set out in the HR Procedures Manual (Overtime) which is available 


1.4.8 Public and Bank Holidays 

Some employees receive payment in respect of public and bank holiday working in 

accordance with the bank's policies and procedures on authorisation, eligibility and 

rates of pay. For further information please refer to the HR Procedures Manual (Public 

and Bank Holiday Working) which is available on the bank’s intranet. 

1.4.9 Incorrect Pay and Deductions from Pay 

There may be an occasion when through error or omission you receive less than your 

contractual pay and/or allowances. Should such an unfortunate circumstance arise the 

bank will rectify the situation and any contractual pay and/or allowances not paid to 

you will be paid on the first opportune pay-day following notification or identification 

of the omission or error. Conversely, if any error or omission results in any 

overpayment of pay and/or allowances being made to you it is accepted that the bank 

reserves the right to deduct any such overpayment(s) from salary on the first opportune 

pay-day following identification or notification. The bank will take into account 

individual circumstances and try to achieve a jointly agreed repayment schedule. 

8

In the event that the overpayment is made in respect of your final salary payment (or 

other payment due on termination of employment), or if you are under a repayment 

schedule and your employment terminates, the bank reserves the right to request that 

you repay such sums owed, on demand. 

If your employment ends and the number of days holiday entitlement you have taken 

exceeds your pro-rata entitlement for the holiday year, an appropriate deduction will be 

made from your final pay or if this is not possible the bank reserves the right to request 

that you repay such sum on demand. The bank will give you an opportunity to discuss 

the proposed repayment, and the bank will take into account your personal 

circumstances prior to determining a repayment schedule. 

If the holiday entitlement you have taken is less than your pro-rata entitlement and it is 

not operationally practical for the outstanding days to be taken during the notice period, 

payment in lieu of outstanding holiday entitlement will be made. 

Payments or deductions will not be made in respect of any Bank or Public holidays 

accrued or taken in excess of entitlement. 

If you are summarily dismissed or leave the bank without giving due notice, you will 

not be entitled to any payment for accrued holidays or holiday pay, including (where 

relevant) any accumulated lieu days due to Saturday or rest day working. 

1.4.10 Tax and Other Deductions 

1.4.10.1 Tax and National Insurance on Benefits – HIUL employees in the UK only 

Each year the bank will issue to you a P60 Certificate, which states your total earnings 

and deductions for the tax year ending 5 April. 

If you earn at the rate of £8500 or more (set by HM Revenue & Customs) in any tax 

year including "benefits in kind", you will be liable to tax on the financial value of 

those benefits. Benefits in kind include items which may be provided to you 

periodically by the bank such as private health insurance, cars and beneficial rate loans. 

If you need to communicate with HM Revenue and Customs, quote your tax reference 

and NI number, both of which are given on your pay statement. Address any queries to: 

HM Revenue and Customs 

West Yorkshire and Craven Area 

Centenary Court 

1 St Blaise Way 

Bradford 

West Yorkshire 

BD1 4YL 

Telephone : 0845 302 1432 

9

1.4.10.2 Tax and Social Security in Jersey 

Social Security will be deducted from your pay each month and paid directly to the 

States of Jersey Employment and Social Security Department. The amount deducted 

will be in accordance with the rate set by the States of Jersey from time to time. 

The tax year in Jersey runs from 1 January to 31 December each year. The standard 

rate of income tax varies according to personal circumstances and is payable by all 

individuals resident in Jersey for tax purposes. Employees will pay income tax on gross 

income less admissible charges, certain personal allowances and reliefs. 

Income tax will be deducted from your pay on a monthly instalment basis. Each year 

the bank will submit a tax return to the Comptroller of Income Tax advising them of 

your total earnings, tax deductions and allowances for the previous tax year. A notice of 

assessment will be issued to you once your income tax return has been submitted. 

If you need to communicate with the Comptroller of Income Tax quote your tax 

reference and forward correspondence to: 

The Comptroller of Income Tax 

PO Box 56 

Cyril Le Marquand House 

The Parade 

St Helier 

JE4 8PF 

Tel: 01534 440 300 

1.4.10.3 Tax and Social Insurance in Guernsey 

Social Insurance will be deducted from your pay each month and paid directly to the 

States of Guernsey Social Security Department. The amount deducted will be in 

accordance with the rate set by the States of Guernsey from time to time. 

The tax year in Guernsey runs from 1 January to 31 December each year. The standard 

rate of income tax varies according to personal circumstances and is payable by all 

individuals resident in Guernsey for tax purposes. Income tax will be deducted from 

your pay on a monthly instalment basis. 

Each year the bank will submit a tax return to the Guernsey Tax Authorities advising 

them of your total earnings, tax deductions and allowances for the previous tax year. 

You will be required to provide the bank with a completed personal tax assessment 

form detailing your annual earnings for the previous tax year. This assessment will be 

compared with the information submitted to the Guernsey Tax Authorities by the bank. 

If you need to communicate with the Administrator of Income Tax quote your tax 

reference and forward correspondence to: 

The Administrator 

Income Tax Office 

PO Box 37 

2 Cornet Street 

St Peter Port 

10

Guernsey 

GY1 3AZ 

Tel: 01481 724711 

1.4.10.4 Tax and National Insurance in the Isle of Man 

Employee’s National Insurance Contributions will be deducted from your pay each 

month and paid directly to the Isle of Man Department of Health and Social Security. 

The amount deducted will be in accordance with the rates set by the Isle of Man 

Government from time to time. 

The tax year in the Isle of Man is from 6 April to 5 April. The higher rate of income tax 

is currently (for the tax year 2008/2009) 18% and the lower rate is currently 10% and 

income tax is payable by all individuals resident in the Isle of Man for tax purposes. 

Employees will pay income tax on gross income less admissible charges, certain 

personal allowances and reliefs. 

Income tax will be deducted from your pay on a monthly instalment basis. Each year 

the bank will submit a tax return to the Isle of Man Assessor of Income Tax advising 

them of your total earnings, tax deductions and allowances for the previous tax year. A 

notice of assessment will be issued to you once your income tax return has been 

submitted. 

If you need to communicate with the Assessor of Income Tax, quote your tax reference 

and forward correspondence to: 

Isle of Man Income Tax Division 

Government Office 

Buck’s Road 

Douglas 

Isle of Man 

IM1 3TX 

Tel: 01624 685400 

1.4.10.5 National Insurance Contributions for employees seconded to the Channel 

Islands 

Employees seconded from the UK to Jersey and Guernsey for a period less than 36 

months will continue to make payments into the UK national insurance scheme and not 

the scheme operating locally. 

1.5 Performance Review 

Each employee’s performance is reviewed annually, the present review period being 

the calendar year. Further details are set out in the HR Procedures Manual 

(Performance Review) which is available on the bank’s intranet. 

1.6 Hours of Work 

1.6.1 General 

Different working arrangements apply depending on your grade. Such working 

arrangements relate both to the number of normal hours worked in a week (based on a 

full time position) and to the way normal hours may be scheduled. In particular, you 

11

will note that some employees work on ‘non-flexible’ schedules and other employees 

work on ‘flexible’ schedules. Whether you work on a non-flexible or flexible schedule 

depends on your grade, work location and your job in the bank. Details of which grades 

are on non-flexible or flexible schedules are set out below. 

Grades S03 to S05 and TA6 – TA4: The standard working week is 35 hours and this 

is normally for 7 hours per day (excluding a one hour unpaid lunch break) Monday to 

Friday inclusive. The normal working day, unless advised otherwise, will be 9.00am to 

5.00pm Monday to Friday inclusive. For non-shift employees the bank can vary, by 

mutual agreement, the start and finish time between the hours of 8.00am and 10.00am 

and 4.00pm and 6.00pm respectively. 

For those employees on "flexible" contracts, different parameters will apply 

depending on the second letter of your grade, as set out below. Unless otherwise stated 

your schedule will normally include a one hour unpaid lunch break each day. Specific 

schedules will be advised to you locally or set out in your offer letter, but may be 

changed, on reasonable notice, within the parameters set out below. 

Letter F and Managerial PH6, PI6, PJ6, PK5, PL5, PM5, PN5, TF6 – TF3, TW6- 

TW2: The standard working week is 35 hours. The maximum number of days you may 

be required to work in any week is 6, over 7 calendar days, Monday to Sunday. The 

days of the week on which you work need not be consecutive. Your scheduled daily 

working hours will be a maximum of 10 working hours per day, although you may 

agree to work longer hours as overtime. 

Letter C and Managerial PA6, PB6, PC6, PD5, PE5, PF5, PG5, TC6 – TC4: The 

standard working week is 35 hours. The maximum number of days you may be 

required to work in any week is 6, over 6 calendar days, Monday to Saturday, or 

Sunday to Friday. The days of the week on which you work need not be consecutive. 

Your scheduled daily working hours will be a maximum of 10 working hours per day, 

although you may agree to work longer hours as overtime. 

Letter B and Managerial TB6 – TB4 and ET6: The standard working week is 35 

hours. The maximum number of days you may be required to work in any week is 5, 

over 6 calendar days, Monday to Saturday, and between the hours of 8.00am to 8.00pm. 

The days of the week on which you work need not be consecutive. At the bank's 

discretion, time and day "slides" may form part of the schedule within the following 

parameters: 

• Time and day "slides" within the core schedule of 8.00am to 8.00pm, Monday 

to Saturday, provided 50% of the employee’s current schedule remains 

unchanged. 

• Changes to the core schedule will only be made as a result of individual 

agreement or by collective agreement with Unite. 

• Employees contracted to work less than an average 35 hours per week can agree 

either a time or a day slide according to their personal and domestic 

circumstances. If you elect a day slide the bank may alter the days on which you 

work, but not the times in those days that you work. If you choose a time slide 

the bank may alter the times in the day when you work, but not the days on 

which you work. 

12

The parameters set out above apply to both clerical and managerial grade employees up 

to and including Global Career Band 4 unless: 

• you are a member of the Salesforce, in which case the standard working week is 35 

hours and may include weekends, local, public and bank holidays. Your specific 

hours of work will be flexible depending on the operational requirements of the 

business and may include such further hours as are necessary for the fulfilment of 

your duties; or 

• you work on a shift basis, in which case any working parameters will be set out in 

your offer letter. 

Senior management employees are required to work such hours as are necessary for the 

proper fulfilment of their duties. 

1.6.2 Overtime and Additional Hours 

The bank aims to ensure that persistent overtime or additional hours are unnecessary. 

However, occasions may arise where, due to unforeseen or unavoidable circumstances, 

you may be required to work beyond your normal hours. In these circumstances 

overtime payments will be made to clerical grade employees in respect of such hours in 

accordance with the bank's policies and procedures. Key-time employees in clerical 

grades will not be eligible for overtime payments until they work more than 7 hours in 

one day or in excess of 35 hours in one week. 

Subject to prior agreement and in accordance with the polices and procedures on 

authorisation and eligibility key time employees who work hours above their normal 

hours but below the limits for overtime payments will be paid at their hourly rate of 

basic salary for such hours. These hours are known as ‘Additional Hours’. Additional 

Hours are pensionable and will count towards any incentive payment calculation which 

is based on hours of work. 

Further details are set out in the HR Procedures Manual (Overtime), which is available 


1.6.3 Working Time Regulations 

The Working Time Regulations 1998 apply to UK based employees. They set limits on 

working hours and create a legal entitlement to minimum rest breaks and paid holiday 

entitlement. Further details on the regulations appear in the HR Procedures Manual 

(Working Time), which is available on the bank’s intranet. 

Weekly rest periods are provided for in relation to Jersey in Article 10 Employment 

(Jersey) Law 2005. 

1.7 Leave 

1.7.1 Holiday Entitlement 

The bank’s holiday year runs from 1 January to 31 December each year. 

13

During Core Leave, employees must be physically away from their workplace and 

actively discouraged from participating in work-related activities from a remote 

location e.g. accessing Blackberrys. Line managers must not place employees under 

duress to respond to work-related matters during Core Leave and it is acceptable for an 

employee not to undertake any work-related activity during this period. 

Employees may attend training courses, conferences or conventions during their Core 

Leave as long as the events are not held on HSBC Group premises. Such events must 

not account for more that 50% of the Core Leave period. 

Should it be necessary to attend a course, conference or convention within the Core 

Leave period, the corresponding number of days would be available to be taken as 

Holiday at a future agreed time 

Minimum Core Leave is calculated as below: 

Category 

Full time employees with 20 or more 

days annual leave allowances 

Part time employees 

Minimum Core Leave 

10 working days, which may include 

Bank and Public Holidays that fall on 

normal working days. 

Pro rata the above calculations i.e. an 

employee working 3 days a week with an 

annual leave allowance of 12 days (full 

time equivalent allowance of 20 days), 

should take a minimum core leave of 6 

working days (i.e. two working weeks of 

3 days a week). 

Leave arrangements for employees whose working pattern exceeds 7 hours per day, or 

who are working a recognised shift pattern, may vary. These arrangements will be 

advised to you at the time of introduction of the working pattern. 

(i) Clerical Grades 

Clerical Grades other than S03-S05 are entitled to 25 working days paid leave in each 

full holiday year worked. 

Clerical Grades S03-S05: 

Completed years of service 

Paid leave (working days) 

Under 3: 21 

3 and over: 23 




Different arrangements may apply where holiday entitlement has been red-circled. 

Additional leave entitlement based on years of service will be given in the holiday year 

in which the relevant length of service is achieved. 

14

(ii) Management and Salesforce Grades/Bands 

TA6, TA5, TF6, TB6, OA6: 28 working days leave in each full holiday year worked. 

TA5, TC5, TF5, TB5, OA5 and above: 30 working days leave in each full holiday year 

worked. 

Holiday entitlement for all other management grades will be set out in their offer letter. 

(iii) Promotion 

On promotion any holiday entitlement will be adjusted pro-rata for the remainder of the 

holiday year. 

(iv) Key Time Employees 

Employees whose normal hours are less than 35 hours per week are entitled to paid 

holiday which is proportional to their normal hours, when compared to the holiday 

entitlement for a full time employee. 

Individual entitlement will be set out in your offer letter or will be provided by your 

line manager. 

(v) Commencing or leaving employment during the holiday year 

If your employment starts or finishes part way through the bank’s holiday year your 

holiday entitlement will be directly proportional to the actual period worked during that 

holiday year. 

If it is not operationally practical for you to take your accrued holiday entitlement prior 

to termination of employment, the bank will make an equivalent payment to you in 

your final salary, unless your employment is terminated by reason of gross misconduct 

or if you fail to give appropriate notice. The bank will also deduct an equivalent sum 

from your final salary payment for any holiday taken in excess of your entitlement or, if 

this is not possible, the bank reserves the right to withdraw an equivalent sum from 

your bank account 

within one month of the termination of your employment or to request that you repay 

the sum on demand. If the bank intends to withdraw any such sum from your bank 

account it will write to you, at your last recorded address, informing you of the amount 

that will be withdrawn. The bank will give you an opportunity to discuss the proposed 

withdrawal, and the bank will take into account your personal circumstances prior to 

determining a repayment schedule. 

Payments or deductions will not be made in respect of any Bank or Public holidays 

accrued or taken in excess of entitlement. 

Further information on taking your holiday entitlement is set out in the HR Procedures 

Manual, which is available on the bank’s intranet. 

15

1.7.2 Public and Bank Holidays 

The recognised public and bank holidays are: New Year's Day, Good Friday, Easter 

Monday, May Bank Holiday, Spring Bank Holiday, August Bank Holiday, Christmas 

Day and Boxing Day. 

In addition to the holiday entitlement in section 1.7.1, employees whose normal 

working hours are 35 hours per week will receive 8 days in recognition of the above 

bank and public holidays. 

Key-time employees will receive an entitlement in respect of bank and public holidays 

which is proportional to their normal hours of work. 


line manager. 

Depending on your rostered pattern of work either paid leave on the bank or public 

holiday or, where you are required to work the bank or public holiday, subsequent paid 

time-off in recognition of such holiday worked, will be given. 

If your working arrangements include working a public or bank holiday, and you are 

subsequently not required to work on that day, reasonable notice will be given. 

Further details are set out in the HR Procedures Manual which is available on the 

bank’s intranet. 

1.7.3 Further local public holidays 

(i) 

Jersey 

Further recognised public holidays are Liberation Day and the Battle of Flowers. 

In addition to the holiday and bank and public holiday entitlement in sections 1.7.1 and 

1.7.2, employees whose normal working hours are 35 hours per week will receive 1 day 

in recognition of Liberation Day and 0.5 day (equivalent to 3.5 hours) in recognition of 

the Battle of Flowers. 

No local holiday entitlement is provided to employees in relation to the Battle of 

Britain. 

Key-time employees will receive an entitlement in respect of local holidays which is 

proportional to their normal hours of work. 


line manager. 

Depending on your rostered pattern of work, either paid leave on the local holiday or, 

where you are required to work the local holiday, subsequent paid time-off in 

recognition for such holiday worked, will be given. 

16

If your working arrangements include working on Liberation Day and / or the Battle of 

Flowers and you are subsequently not required to work on that day, reasonable notice 

will be given. 

(ii) 

Guernsey 

Liberation Day is recognised by the bank as a further public holiday. 


1.7.2, employees whose normal working hours are 35 hours per week will receive 1 day 

in recognition of Liberation Day. 

Key-time employees will receive an entitlement in respect of Liberation Day which is 

proportional to their normal hours of work. 


line manager. 

Depending on your rostered pattern of work, either paid leave on Liberation Day or, 

where you are required to work on Liberation Day, subsequent paid time-off in 


If your working arrangements include working on Liberation Day, and you are 


(iii) 

Isle of Man 

The recognised further public holidays are TT Senior Race Day and Tynwald Day. 


1.7.2, employees whose normal working hours are 35 hours per week will receive 2 

days in recognition of local holidays. 

Key-time employees will receive an entitlement in respect of the local holidays which 

is proportional to their normal hours of work. 


line manager. 

Depending on your rostered pattern of work, either paid leave on the local holiday, or 

where you are required to work the local holiday, subsequent paid time-off in 


If your working arrangements include working on a local holiday, and you are 


1.7.4 Time off for trade union duties 

Employees who undertake trade union duties on behalf of Unite will be granted paid or 

unpaid time off in accordance with any agreements that may exist between the bank 

and Unite. 

17

1.7.5 Time off for medical appointments 

You may be granted paid time off to attend medical (including dental and optician) 

appointments which cannot be arranged outside working hours, subject to such policies 

and procedures on authorisation as may apply locally. Such appointments should, 

where possible, be made close to the beginning or end of your working day. You may 

be asked to work additional hours to cover the time taken off for such appointments. 

Pregnant women who attend ante-natal care appointments are entitled to paid time off 

and will not be asked to work any additional hours to cover time taken off for such 

appointments. 

1.8 Absence from Work 

You must wherever possible gain prior agreement from management before being 

absent from work. In that case an explanation satisfactory to the bank must be given 

for your absence. 

If you do not have your manager’s prior agreement to your absence you must: 

• comply with the bank's rules and procedures if the absence is due to your sickness 

or injury as set out in clause 1.8.1 below; or 

• if your absence is due to any other reason you must telephone management at your 

normal starting time, or as soon thereafter as is reasonably practicable, in order to 

advise of your absence and provide a satisfactory explanation for the absence. 

When you return to work you must attend a return to work interview. 

If the bank considers the explanation you have given for your absence, verbally, in 

writing, or through your self certification form, to be unsatisfactory or false then action 

under the bank’s disciplinary procedures may be taken against you. 

1.8.1 Absence Due to Sickness or Injury 

If you are unable to attend work because of your sickness or injury you must telephone 

your line management no later than your normal starting time (or as soon thereafter as 

reasonably practicable) in order to advise them of your absence and its reason. 

If your absence lasts in the case of HIUL employees for 7 calendar days or less, in the 

case of employees in Jersey and Guernsey for 3 calendar days or less or, in the case of 

employees in the Isle of Man for 5 working days or less, you will need to complete a 

self certification form on your return to work. 

If your absence exceeds, or is likely to exceed, in the case of HIUL employees one 

calendar week, in the case of employees in Jersey and Guernsey 3 calendar days or, in 

the case of employees in the Isle of Man 5 working days, you must consult your doctor 

and obtain a medical statement expressing the doctor's opinion of the reason for your 

absence from work. This must be sent by post or delivered to your manager. If further 

certificates are required, these must also be sent to your manager by post or delivered. 

If your illness lasts longer than the number of days (see above) applicable to your 

location, you should contact your manager to advise him or her of your current 

prognosis at least once a week, unless agreed otherwise. 

18

You may be asked to give your consent for the bank to obtain a prognosis from your 

doctor. You may also be required to visit a medical adviser appointed by the bank and 

you will also be requested to give your consent to any report prepared by such medical 

adviser being disclosed to the bank. 

Reporting requirements may be varied by local arrangement at your place of work, 

when any particular requirements will be brought to your attention during your 

employment. If you are unclear about the arrangements in place you should speak to 

your line manager. 

1.8.2 Salary and Other Payments During Periods of Absence 

No salary or other allowances or incentive payments will be paid for periods of 

unauthorised absence. 

Payments may be made for periods of absence due to reasons other than sickness or 

injury at the bank’s absolute discretion. 

Subject to you following the absence rules laid down by the bank, basic pay less any 

Sickness Benefit (Guernsey) or Statutory Sick Pay (“SSP”) (for employees of HIUL 

who work in the UK), or Incapacity Benefit (Jersey and Isle of Man) or other similar 

benefit, for which you are eligible (whether or not you have recovered the amount), 

may be continued for a limited period during authorised absence due to sickness or 

injury. 

The period for which basic pay (less the appropriate benefit deductions as outlined 

above) may be paid currently depends on the length of your service with the bank and 

is set out in the following tables. Sick pay is pro-rated based on contractual hours for 

key time employees contracted to work less than 35 hours per week. 

Employees: 

The following table applies to employees in grades S03-5 and bands CGB6 – GCB1 

and all regulated employees, whose continuous employment with the bank began on 

one of the Offshore Islands and began prior to 1 January 2002 (i.e. they are on non 

flexible contracts). 

Employees on non flexible contracts whose continuous employment with the bank 

began in the UK but who then moved to one of the Offshore Islands or to HIUL should 

refer to the UK HR Procedures Manual for details of their sick pay entitlement. 

Service 

Maximum period of normal pay 

granted* 

Over 5 years 

52 weeks (260 working days) 

*The maximum period is the maximum granted in any one year whether absence is 

owing to a single illness or succession of illnesses. For UK and Isle of Man based 

employees, the year starts 6 April. For Jersey and Guernsey based employees the year 

starts 1 January. 

19

When a period of absence spans more than one year (6 April to 5 April for UK and Isle 

of Man based employees, 1 January to 31 December for Jersey and Guernsey based 

employees), eligibility for sick pay during this period is the maximum period for the 

absence year in which the absence commenced. 

If you return to work following this period of absence, you will return on a 

rehabilitation plan. This plan will be agreed between yourself, your line manager, an 

Occupational Health Manager and an Employee Relations Manager. Once the 

rehabilitation plan has been completed successfully any subsequent absence may be 

paid until you have reached the maximum accumulated paid sick leave for the year in 

which you return. 

Employees: 

The following table applies to employees on flexible contracts whose continuous 

employment with the bank began on one of the Offshore Islands and began between 1 

January 2002 and 30 November 2006. 

Employees on flexible contracts whose continuous employment with the bank began in 

the UK prior to 1 January 2002 but who then moved to one of the Offshore Islands or to 

HIUL should refer to the UK HR Procedures Manual for details of their sick pay 

entitlement. 

Service 


granted** 

Less than 3 years 

Between 3 and 5 years 

Over 5 years 




** Calculation of maximum period of normal pay granted will be based upon a rolling 

12 month period whether absence is due to a single illness or succession of illnesses. 

Employees: 

The following table applies to all employees on flexible contracts employed from 1 

December 2006 in all regulated grades or in grades SB3-5, SF3-5 and bands GCB6 – 

GCB1. 

Service 


granted*** 

Up to 6 months 

Between 6 and 12 months 



Over 5 years 

Statutory Sick Pay (or Offshore 

equivalent as appropriate) only 





20

*** Calculation of maximum period of normal pay granted will be based upon a rolling 

12 month period whether absence is due to a single illness or succession of illnesses. 

All sick pay is calculated and paid monthly in arrears following the receipt of the 

absence return form completed by your line manager. 

Bank sick pay includes any entitlement you may have (whether or not recovered by 

you) to Statutory Sick Pay (SSP) (UK), Sickness Benefit (Guernsey) or Incapacity 

Benefit (Jersey and Isle of Man). If bank sick pay ceases, you may still be entitled to 

SSP (HIUL employees only) (for up to 28 weeks' sickness in total) or Sickness Benefit 

or Incapacity Benefit as appropriate in accordance with local legislation. The bank 

reserves the right to refuse to pay sick pay (including SSP etc) if it has reasonable cause 

to think that you are not genuinely sick, or are abusing the sick pay policy. 

If you are employed in Jersey, Guernsey or the Isle of Man, it will be your 

responsibility to claim any sickness benefit to which you may be entitled from the 

relevant social security authority. If you receive any sickness benefit (including any 

incapacity benefit) during a period of absence through sickness or injury, you will be 

required to provide payroll with your cheque for this sickness benefit so that a 

photocopy can be taken for the bank’s records. You will keep the cheque but the 

amount of sickness benefit covered by the cheque will be deducted from any sick pay 

due to you from the bank. 

You should be aware that the bank may reduce your holiday entitlement for the holiday 

year on a pro-rata basis related to your attendance during that year. Any incentive 

scheme arrangements, as may exist, may also be affected. 

Should your statutory entitlement exceed bank arrangements as set out in the HR 

Procedures Manual then, on exhaustion of any bank sick pay, you will be paid Sickness 

Benefit, Incapacity Benefit or SSP (as applicable) in accordance with your statutory 

entitlement. Payment of Sickness Benefit, Incapacity Benefit or SSP (as applicable) is 

dependent on you satisfying rules regarding periods of incapacity, the period of 

entitlement, qualifying days and rules for the notification of absence. 

If you are absent from work due to an accident or a condition sustained on or off duty 

that is the fault of a third party, any bank sick pay paid to you in respect of such 

absence will be recoverable by the bank only if, and to the extent that, you recover 

damages in respect of your injury, condition or absence from work. You will be 

notified if these circumstances apply. 

Further details on absence are set out in the HR Procedures Manual (Absence). 

1.9 Location and Mobility 

Your initial location will be as stated in your offer letter from the bank. You may be 

required to travel to customer sites and premises and on occasion to attend training 

sessions and meetings elsewhere. 

There may also be times when the bank needs you to be flexible with your work 

location, which may mean a permanent or temporary move. Subject to business needs, 

the bank will, wherever possible, take into account your personal and domestic 

circumstances before requiring you to move. Set out below are the bank’s mobility 

21

equirements. Although the general mobility requirement is dependent on grade, the 

bank’s requirements under any business recovery plan (see paragraph 1.9.4) apply to all 

grades. 

Employees whose work location is stated as “home” in their offer letter are also 

covered by these requirements. 

Some employees may have the option of working from home from time to time by 

mutual agreement in line with business needs. However, this arrangement is noncontractual 

and the employee’s base remains as stated in their offer letter. 

1.9.1 Senior Management 

If you are a senior management band employee you may be required to work at or from 

any office, branch or location of the bank or within different companies of the HSBC 

Group (as defined at paragraph 1.24) in the UK or Offshore Islands. A change of your 

place of residence may be required from time to time at particular stages of your career. 

In addition there may be some roles where there is a requirement to work outside of the 

UK or Offshore Islands. There may also be roles where occasional overseas travel is 

necessary, and in such situations, personal and domestic circumstances will be taken 

into account. 

1.9.2 Management 

If you are a management band employee (including if you are a Management Trainee) 

you may be required to work at or from any office, branch or location of the bank in the 

UK or Offshore Islands. A change of your place of residence may be required from 

time to time at particular stages of your career. 

In addition there may be some roles where there is a requirement to work outside of the 

UK or Offshore Islands. There may also be roles where occasional overseas travel is 

necessary, and in such situations, personal and domestic circumstances will be taken 

into account. 

1.9.3 Clerical Grades 

If you are a clerical grade employee you may be required to work at or from any office, 

branch or location of the bank in the Offshore Island in which you are employed, (or in 

the UK if you are employed in the UK) within reasonable travelling distance of your 

existing location or your home. What is deemed a reasonable journey will depend on a 

number of circumstances that will include normal travelling time and public transport 

availability. 

1.9.4 Business Recovery Plans 

The bank has business recovery plans in place in the event of a major disaster taking 

place and the working environment being compromised. Depending on the nature and 

longevity of the disaster and the nature of the role you are carrying out at the time, you 

may be identified as a key member of staff. If you are identified as such, you may be 

contacted and expected to report for work at a different site, for a temporary period, to 

recover from critical business disruption. 

22

1.10 Cars 

1.10.1 Management Car Scheme 

Employees in bands GCB5 and above, and employees who are grade G93 and 

employed by HIUL are eligible to participate in the Offshore Islands Cash Car Scheme 

(the “Car Scheme”) (with appropriate variations for HIUL) subject to the existence of 

and rules of the Car Scheme as they may exist from time to time. 

Under the Car Scheme, eligible managers will be entitled to a cash payment in lieu of 

the provision of a car. 

If your normal hours are less than 35 hours per week, the benefit will be pro rata to 

your normal hours. 

If you change your normal hours, the level of any payments will be adjusted 

accordingly. 

For further information please refer to the rules of the Car Scheme, which are available 


1.10.2 Motoring Offences 

If, as a result of a motoring offence and/or a series of such offences, you lose your 

driving licence and as a consequence are not able to undertake your duties satisfactorily 

you must make suitable alternative arrangements acceptable to the bank to enable you 

to perform your contract of employment. 

If you are not able to do so the bank will attempt to identify an alternative position, not 

involving driving. However if this is not possible or you do not accept the alternative 

position then your employment may be terminated, by the bank, by giving due notice. 

It is accepted that should an alternative role be identified, your salary, benefits and all 

other terms and conditions of employment would mirror that of an employee at that 

grade and level and not that of your current position. Any such alternative role will 

normally be an established position. You will therefore not be entitled to automatically 

return to your current role if your driver’s licence is returned, although you will be able 

to apply for and be considered for positions which require a driving licence. 

1.11 Expenses 

You will be reimbursed for expenses incurred on the bank's business which are: 

• incurred and claimed strictly in accordance with the bank's rules on expenses; and 

• supported by the appropriate level of authorisation and documentation. 

To take best advantage of the bank's buying power, arrangements exist for purchase of 

certain services through given suppliers or through a central point. Such arrangements 

must be complied with. 

Further details are available in the Expenses Policy and Procedures Manual, which is 

available via Lotus Notes. 

23

1.12 Retirement and Pensions 

The normal retirement age in the bank is currently 65 and your employment will 

terminate automatically at the end of the month in which your 65 th birthday occurs, 

unless you are otherwise advised by individual notice. Your ‘pensionable retirement 

age’ is determined by the section of the pension scheme you are in, and by your 

contract, and is shown on your pension statement (age 60 for most employees). The 

change to the bank’s working retirement age does not change this in any way. This will 

mean that, when you reach your ‘pensionable retirement age’ you will still be able to 

decide whether to retire or whether to continue to work until 65, if you are under 65. 

1.12.1 The HSBC Defined Contribution Retirement Benefit Scheme 

Unless you are already a member of another group pension scheme, the HSBC Defined 

Contribution Retirement Benefit Scheme (“DCS Scheme”) is applicable to employees 

who entered service on or after 1 July 1996. 

For the information of HIUL employees and employees employed in the Isle of Man, 

the DCS Scheme is contracted into the State Second Pension (S2P) which replaced the 

State Earnings Related Pension Scheme (SERPS) in April 2002. 

The DCS Scheme is a savings style type of pension which provides: 

• a pension on retirement; 

• an ill-health pension (which currently applies if you have five years membership 

and are unable to continue in employment because of serious ill-health); and 

• security for your dependants, which is currently: 

- a lump sum of four times pensionable salary if you die in service plus a refund of 

your own pensions contributions; 

- a spouse's or civil partner’s pension; 

- a children's allowance. 

Provided that you are aged 23 or over when you commence employment, you will 

automatically become a full member of the DCS Scheme for pension, life insurance and 

other benefits. This means that a contribution of 2% of monthly pensionable salary will 

automatically be deducted from your monthly pay and paid to the DCS Scheme as a 

contribution towards your future pension. Further details on the contributions the bank 

will make to the DCS Scheme for your future pension are set out in the DCS Scheme 

Explanatory Booklet. 

If you are under the age of 23 at the time of commencing employment you will be 

automatically admitted to the DCS Scheme for life insurance and qualification service 

towards an ill heath pension. When you reach the age of 23 (provided that you are still 

an employee of the bank), the contribution of 2% of monthly pensionable salary will 

automatically start to be deducted from your monthly pay and paid to the DCS Scheme 

as a contribution towards your future pension. You may also make contributions to the 

DCS Scheme for your future pension before you reach the age of 23. Details on how 

you may do this are set out in the DCS Scheme Explanatory Booklet. 

Further details about the DCS Scheme, including the DCS Scheme Explanatory 

Booklet, an illustrator of potential pension benefits, Frequently Asked Questions and 

details of the DCS Scheme Administration Team, are available on the DCS Scheme 

Intranet Site (http://dcsscheme.hacl.uk.hsbc). You can also call 7688 5350 (Internal) or 

0845 6095050 (External). 

24

The pension benefits detailed in the Handbook are subject to the Trust Deed and Rules 

of the DCS Scheme which may be changed from time to time to the extent permitted by 

the Trust Deed and Rules. 

1.12.2 The HSBC Bank (UK) Pension Scheme - Defined Benefit Section 

The Defined Benefit Section (“DBS Scheme”) is applicable to most employees in 

service before 1 July 1996. 

The DBS Scheme is based on your final salary and pensionable service accrued during 

your membership of the DBS Scheme. The DBS Scheme provides: 

• a pension on retirement; 

• an ill-health pension (if you have five years membership and are unable to continue 

in employment because of serious ill-health); and 

• security for your dependants: 

- a lump sum of four times pensionable salary if you die in service; 

- a spouse's or civil partner’s pension; 

- a children's allowance. 

Further details about the DBS Scheme, including the DBS Scheme Explanatory 

Booklet and details of the DBS Scheme Administration Team are available on the DBS 

Scheme intranet site (http://dbsscheme.hacl.uk.hsbc). 

Important points to note are: 

• The scheme is non-contributory. The total cost of the scheme is met by the 

employer. 

• Completion of the Expression of Wish form and/or Specified Dependants 

Nomination Form can assist the Trustee when making payments in the event of 

your death. 

• For the information of HIUL employees and employees in the Isle of Man, the 

DBS Scheme is contracted-out of the state second pension (S2P) which replaced 

the State Earnings Related Pension Scheme (SERPS) in April 2002. 

• Employees who joined the DBS Scheme before 1 January 1975 have the option to 

retire from age 55, (with provision for a reduction of part of the pension in some 

cases) subject to providing notice to the bank in accordance with their contract of 

employment. 

• Ill-health pensions are based upon your actual period of pensionable service 

accrued to the date of actual retirement. This may be further enhanced at the 

discretion of the Trustee, provided it is satisfied that your illness is severe, with no 

likelihood that you will recover or be able to undertake any gainful employment in 

the future. 

• You are eligible to pay additional voluntary contributions (AVCs) through one of 

the scheme’s AVC providers to increase your benefits payable from retirement. 

You can also call the DBS Scheme Administration Team on 7688 5318 (Internal) or 

01727 885318 (External). The pension benefits detailed in the handbook are subject to 

the Trust Deed and Rules of the DBS Scheme which may be changed from time to time 

to the extent permitted by the Trust Deed and Rules. 

25

1.12.3 Other pension schemes 

Certain employees may be eligible to participate in other group pension schemes. 

Further details are set out in your offer letter and details of who to contact for further 

information are set out in your scheme booklet. 

1.13 Standards of Conduct 

Banking is a business based on the utmost integrity and mutual trust. In order to 

maintain and safeguard the trust and confidence of our customers and the public, the 

bank places paramount importance on the maintenance of certain standards of conduct. 

The bank’s standards of conduct are principally made up of certain rules, regulations 

and ethical principles. These are set out in sections 1-3 of the Handbook and it is 

essential that you familiarise yourself with the content of the Handbook and observe the 

bank’s standards of conduct. In addition other specific rules and regulations may apply 

in your place of work and will be brought to your attention during your employment. 

Due to the need for integrity and trust in our business and the rapidly developing nature 

of the business, it is not possible to set out standards of conduct in every situation. You 

should seek guidance from your line manager should you be in any doubt about the 

correct action to take in any situation. 

A failure to abide by the standards of conduct may lead to disciplinary action being 

taken, including dismissal. 

1.14 Confidentiality 

You must from the date of the commencement of your employment and thereafter, 

observe strict confidentiality in respect of any and all information held by the bank, 

including dealings, transactions, procedures, policies, decisions, systems and other 

matters of a confidential nature of and concerning the bank, the HSBC Group and allied 

or associated companies of the bank or Group (all such subsidiary and other companies 

being referred to as “the Companies”). Such confidentiality relates to any and all 

transactions (including, but not limited to the state of any account and matters relating 

to customers’ or clients’ business or personal affairs) of the bank or the Group and of 

each of the Companies with their respective customers, clients, suppliers or associates, 

except when required or authorised to disclose such information by the bank or by law. 

You should be aware that any breaches of the above, including the unauthorised 

browsing of accounts, is likely to lead to disciplinary action and may result in dismissal 

for gross misconduct. 

Disclosure of customers’ or clients’ business or personal affairs is not permitted 

without the customers’ or clients’ authority. This is a requirement of bankers' 

confidentiality, the Banking Code, and the data protection legislation as set out at 

paragraph 3.10.2 below. Any contravention may lead to action under the disciplinary 

procedures, as well as individual liability under data protection legislation. 

If you are approached by any third party, in particular any media source, and asked to 

make any comments or provide any information to such persons, under no 

circumstances should you respond without having sought permission and guidance 

from your line manager who, where appropriate and necessary, will seek permission 

and guidance from Group Corporate Affairs. Guidelines on regulations and procedures 

26

egarding the handling of information relating to customers, clients and employees are 

set out in the HR Procedures Manual (Data Protection – Use, Retention and Disclosure 

of Personal Data; and Data Protection Regulations for Staff Files). 

Nothing in this clause prevents you from making a protected disclosure under the 

bank’s whistle-blowing procedure, in respect of any malpractice or unlawful conduct. 

Further details on the bank’s whistle-blowing policy are set out at paragraph 3.9 of this 

Handbook or are available in the HR Procedures Manual (Whistle-blowing). 

1.15 Inventions and Other Intellectual Property 

You may make inventions or create other intellectual property during your 

employment. In this respect you have a special responsibility to further the interests of 

the bank and the HSBC Group given your position at the bank and the remuneration 

paid to you under your contract of employment. 

In recognition of your position, remuneration and responsibility, you acknowledge and 

agree that any invention, improvement design, process, information, copyright work, 

trade mark, trade name or get-up or any other intellectual property (together the 

“Intellectual Property”) made, created or discovered by you during your employment 

(whether capable of being patented or registered or not) in conjunction with or in any 

way affecting or relating to the business of any company in the Group or capable of 

being used or adapted for use in such a company or in connection therewith shall be 

immediately disclosed to the bank and shall belong to and be the absolute property of 

the bank or such member of the Group as the bank may direct. 

However, the above clause shall only apply to the extent that any invention was made 

by you in the course of your Duties and (i) such invention was reasonably expected to 

result therefrom; or (ii) at the time of making the invention, because of the nature of 

your Duties and the particular responsibilities arising therefrom, you have a special 

obligation to further the interests of the bank. For the purpose of this clause ‘Duties’ 

means in the course of your normal duties or in the course of duties falling outside your 

normal duties but which have been specifically assigned to you. 

You acknowledge that you have no rights, interest or claims, either during your 

employment or after the termination of your employment, in or to any such Intellectual 

Property and you shall not use such Intellectual Property other than during the period of 

your employment and for the purpose of the bank or the Group. 

If and whenever required to do so by the bank, (whether during your employment or 

after its termination), you shall at the expense of the bank or such Group company as 

the bank may direct: 

• apply or join with the bank or such Group company in applying for letters patent or 

other protection or registration in the United Kingdom and in any other part of the 

world for any such Intellectual Property; and 

• execute and do all instruments and things necessary for vesting the said letters 

patent or other protection or registration when obtained and all right title and 

interest to and in the same absolutely and as sole beneficial owner in the bank or 

such Group company or in such other person as the bank may specify. 

27

You agree that you irrevocably and unconditionally waive all rights: 

• if you are a UK based employee, under Chapter IV of the Copyrights, Designs and 

Patents Act 1988; 

• if you are a Jersey based employee, under Copyright Droits d’auteur, Loi (1913) au 

sujet des, Copyright (Transitional Extension) Order 1959 and the Copyright Act 

1956; 

• if you are a Guernsey based employee, under Copyright (Bailiwick of Guernsey) 

Ordinance 2005; and 

• if you are an Isle of Man based employee, under part IV of the Copyright Act 1991 

(as amended), 

in connection with your authorship of any existing or future copyright work, in 

whatever part of the world such rights may be enforceable. 

Nothing in this clause shall be construed as restricting your rights or those of the bank 

under: 

• if you are a UK based employee, the Patents Act 1977 and in particular sections 39 

to 43 Patents Act 1977; 

• if you are a Jersey based employee, the Patents (Jersey) Law 1957; 

• if you are a Guernsey based employee, under Copyright (Bailiwick of Guernsey) 

Ordinance 2005; and 

• if you are an Isle of Man based employee, the Patents Act 1977 and, in particular, 

sections 39 to 42 thereof as extended and applied in the Isle of Man by Order in 

Council. 

1.16 Employee Records 

In accordance with data protection legislation, it is important that the bank's 

confidential personal records are maintained as accurately as possible. You must record 

any change in your personal circumstances (such as a change of your name, address or 

marital status) in the way set out in the Human Resources Procedures Manual (Personal 

detail change), which is available on the bank’s intranet. 

Employees in a position regulated by the Financial Services Authority, the Jersey 

Financial Services Commission, the Guernsey Financial Services Commission or the 

Isle of Man Financial Supervision Commission must also ensure that any adverse 

change in their credit or other status is notified to their line manager, as this may affect 

their standing with their regulator. 

1.17 Notice Periods 

1.17.1 Termination of employment by the Bank 

Employees are entitled to a minimum notice period of termination from the bank, as set 

out below, or to any such longer period as may be statutorily required, unless your 

employment is terminated summarily on the grounds of gross misconduct. 

The bank's notice may be handed to you personally or sent to your last recorded 

address. 

28

Notice periods applicable when the bank terminates your contract of employment are 

currently as follows: 

(i) 

Clerical Grades and Management Bands up to and including and all 

Regulated Sales Bands. 

Service 

Less than five 

complete years 

of continuous 

employment: 

Jersey 

minimum 

notice 

One calendar 

month 

Guernsey 

minimum 

notice 

One calendar 

month 

Isle of Man 

minimum 

notice 

One calendar 

month 

UK minimum 

notice: 

One calendar 

month 

After 5 


of continuous 

employment 

but less than 

10 complete 

years of 

continuous 

employment: 

10 or more 


of continuous 

employment 

but less than 

15 years’ of 

continuous 

employment: 

8 weeks up to One week per 

8 complete completed year 

years of of continuous 

continuous employment 

employment 

and then one 

week per 

completed year 

of continuous 

employment 

12 weeks One week per 


of continuous 

employment 

up to a 

maximum 

12 weeks 

of 

One week per 


of continuous 

employment 

One week per 


of continuous 

employment 


maximum of 

12 weeks 

One week per 


of continuous 

employment 

One week per 


of continuous 

employment 


maximum of 

12 weeks 

15 or more 

years of 

continuous 

employment: 

16 weeks 12 weeks 12 weeks 12 weeks 

If, however, your employment ends on grounds of redundancy you will be entitled to 

any period of notice which may apply at the time of the redundancy under any 

applicable security of employment policy with any trade union or other such 

representative body. 

(ii) Bands GCB3 and above 

The bank will give you at least six calendar months' notice. 

1.17.2 Termination of employment by You 

(i) Clerical Grades and Management Bands up to and including GCB4 and all 

Regulated Sales Bands 

29

Unless otherwise agreed, you are required to give the bank at least one calendar 

month's notice in writing, which you must ensure is received by your line manager 

before the notice begins to run. 

Verbal resignations will not be accepted. 

(ii) Bands GCB3 and above 

Unless otherwise agreed, you are required to give the bank at least three calendar 

months' notice in writing, which you must ensure is received by your line manager 

before the notice begins to run. 

Verbal resignations will not be accepted. 

1.17.3 Garden Leave 

This paragraph applies to any notice period, regardless of whether notice was given by 

you, or by the bank. 

The bank shall be under no obligation to provide you with any work and may at any 

time require you to stop carrying out your duties and to no longer attend your place of 

work (often known as ‘garden leave’) or contact any employees, offices, officers, 

customers or clients of the bank for the duration of the notice period. Alternatively, the 

bank may provide you with work of a different nature to that which you would 

normally perform under your contract of employment, and at a different location, 

during your notice period. 

During any such period you will continue to be bound by the terms and conditions of 

your contract of employment (including but not limited to the implied duty of good 

faith) and you will receive pay and most benefits in the normal way. You will not 

accrue any incentive payment in respect of any period when you are not required to 

carry out your duties and attend work and any commission will only be paid in respect 

of credits already earned prior to the date upon which you are placed on garden leave. 

If you have any accrued, but untaken leave, you will be deemed to have taken this 

during any such period when you are not carrying out your duties and in attendance at 

work, provided that you are not carrying out any work on behalf of the bank during 

such a period. 

1.18 Return of Property 

On the termination of your employment for whatever reason, or at any time at the 

bank's request, you must immediately deliver to the bank, or to anyone specified by the 

bank, any and all books, documents, records, computer hardware and software and 

other disks or tapes kept or made by you and in your possession or control relating to 

the bank’s business, your computer, mobile, blackberry, any materials, credit cards, 

keys, passes, cars, equipment or other property (including any copies, drafts, extracts, 

summaries or reproductions of such property) belonging to or related to the business of 

the bank, or any other company within the HSBC Group, its or their clients, customers 

30

or suppliers and you must not retain any other documentation or property of the bank, 

or the HSBC Group, in your possession or control. 

1.19 Competition Obligations 

1.19.1 Confidential Information 

Following termination of your employment, you will continue to be bound by your 

obligations of confidentiality, as set out in 1.14. In particular, you shall not divulge, 

use, or in any other way cause to enter into the possession of a third party, any lists or 

details of customers, or products, or any item of confidential information, or knowledge 

that was gained by virtue of your employment, or in respect of which the bank or any 

company in the HSBC Group is bound by an obligation of confidence to a third party. 

1.19.2 Restrictive Covenants 

If you are a senior management band employee (being GCB3 and above), the following 

additional obligations apply: 

(i) For a period of six months commencing with the date of the termination of your 

employment (the “Relevant Period”) with the bank you will not, whether on your 

own behalf or with or on behalf of any other person, company, firm or other 

organisation, directly or indirectly, whether by yourself, by your employees or 

agents or otherwise howsoever, approach, solicit, canvass, or advise, sell to or offer 

to sell to, or interfere with or endeavour to entice away, or cause to be approached, 

solicited, canvassed, advised, sold to or offer to be sold to, or interfered with or 

enticed away from the bank for the purpose of offering or performing banking or 

related financial services to any customer or client or potential customer or client of 

the bank with whom you have had personal contact in respect of offering or 

performing banking or related financial services – whether by way of a meeting, 

telephone, letter or otherwise – during the period of six months immediately 

preceding the date of termination of your employment. 

(ii) During your employment and for the Relevant Period commencing with the date 

of the termination of your employment either on your own account or with or for 

any other person, firm, company or organisation, you will not directly or indirectly, 

whether by yourself, by your employees or agents or otherwise howsoever, 

approach, solicit, canvass, or advise, sell to or offer to sell to, or interfere with or 

endeavour to entice away, or cause to be approached, solicited, canvassed, advised, 

sold to or offer to be sold to, or interfered with or enticed away from the bank, any 

employee of the bank or HSBC Group of band GCB5 or above with whom you 

have worked in the previous six months or, in the case of termination, in the six 

months prior to your termination, for the purpose of enticing the employee away 

from the bank or discouraging the employee from being employed by the bank or 

the relevant Group company. 

(iii)The restrictions set out at clauses 1.19.2 (i) and (ii) shall only apply to banking 

or other related financial services which are similar to or competing with the bank’s 

financial products or services which were developed by you (or whose development 

was known to you), or which were offered for sale, or advised upon or serviced or 

supervised by you during the six months prior to the termination of your 

31

employment. The restrictions shall not apply to the taking out of financial services, 

in the ordinary course of usage, by you or your immediate family. 

(iv) The Relevant Period set out at clauses 1.19.2 (i) and (ii) shall be reduced by the 

period of time (if any) that you are required by the bank not to undertake any active 

employment duties, prior to the termination of your employment (commonly known 

as ‘garden leave’) as set out in clause 1.17.3. 

(v) You acknowledge that the duration, extent and application of each of these 

restrictions are no greater than is necessary for the protection of the legitimate 

business interests of the bank and you agree having regard to the circumstances of 

your employment and duties that those covenants do not work unfairly or harshly 

upon you. 

(vi) Whilst these restrictions are accepted by all parties to be reasonable in all the 

circumstances it is agreed that if any such restriction shall be judged by a court of 

competent jurisdiction to go beyond what is properly considered reasonable in all 

the circumstances but would be adjudged to be reasonable if part or parts of the 

wording thereof were deleted then you agree that the restriction shall continue to 

apply save for the deletion of the offending part. 

(vii) Each of these sub-clauses shall be deemed to constitute a separate agreement 

with the bank, for the benefit of the HSBC Group. 

(viii) You acknowledge that damages will not be an adequate remedy for any 

breach of the restrictions set out at clauses 1.19.2 (i) and (ii) and you shall not seek 

to resist an application for an injunction in respect of any breach or threatened 

breach of any or all of the restrictions on the grounds that there is an alternative 

adequate remedy in damages. 

Specific obligations apply to Salesforce employees on G Grades and are set out in the 

offer letter provided to such employees. 

1.20 Disciplinary 

1.20.1 Rules and Procedure 

Contravention of any of the terms of your contract of employment or the bank’s 

standards of conduct, rules, regulations, compliance requirements and other rules which 

may apply to you is viewed most seriously and will normally result in disciplinary 

action (which could include dismissal) being taken under the bank's Disciplinary 

Procedures. 

The bank’s Disciplinary Procedures are set out in the HR Procedures Manual, which is 

available from your line manager or on the bank’s intranet at your place of work. 

If you are dissatisfied with a disciplinary decision relating to you, then you can appeal 

to HR Connect (Employee Relations Team, HR Connect, Mayfields Court, Maylands 

Avenue, Hemel Hempstead Herts, HP2 4SE) or to any other person identified for that 

purpose in the Disciplinary Procedures. Such appeals will normally be held by a level 

of management above the level responsible for the decision. Full details of how to go 

32

about this and the steps that follow such an application are set out in full in the 

Disciplinary Procedures. 

1.20.2 Disciplinary Sanctions 

Where you have been the subject of disciplinary action under the Disciplinary 

Procedures and after the procedure has been exhausted it is decided a disciplinary 

sanction, short of dismissal, should be imposed, the bank may impose on you one or 

more of the following sanctions:- 

(a) 

(b) 

(c) 

(d) 

(e) 

a disciplinary transfer to an alternative place of work; 

a downgrading with reduction in pay; 

forfeiture of pay; loss of a specified amount of pay related to an offence(s); 

stoppage/postponement of your next pay award, either salary and/or incentive 

payment; 

reduction in pay, 

either in addition to or in replacement of any other disciplinary sanction which appears 

appropriate to the particular circumstances. 

1.21 Grievance Procedure 

If you have a grievance related to your employment, you have a right to apply in 

writing for redress. You should normally raise this with your line manager, informally, 

in the first instance. Full details of how you should go about this and how your 

grievance will be dealt with are set out in the bank’s Grievance Procedure. The 

Grievance Procedure is set out in the HR Procedures Manual, which is available on the 

bank’s intranet at your place of work. 

1.22 Variation and Changes 

Any variations and changes to your individual terms and conditions of employment will 

be notified to you in writing within one month of the change(s), either by circular or via 

your pay statement. 

1.23 Collective Agreement and Employee Representation 

1.23.1 Employee Representation 

The bank currently has a collective agreement with Unite in respect of clerical grades. 

Matters relating to pay and conditions of service are subject to negotiation and/or 

consultation. 

If you are employed in a clerical grade, whether or not you are a member of Unite, from 

time to time your terms and conditions will be subject to variation following 

negotiations and/or consultations under this agreement, which will be notified to you by 

circular within one month of the change. 

1.23.2 Offshore Managers’ Forum 

Consideration of issues relating to management grade employees up to and including 

band GCB4 and equivalent Salesforce bands is currently through the Offshore 

Managers’ Forum, representing business areas across the bank. The Forum is composed 

of elected representatives drawn from managers in the grades set out above (from each 

33

of the Offshore Islands), a representative elected by Unite managerial members, and a 

full time Unite official responsible for HSBC Bank issues. 

1.24 Definition of Group 

“HSBC Group” or the “Group” means, for the purpose of these terms and conditions, 

HSBC Holdings plc and any company that for the time being is a holding company of 

HSBC Holdings plc or a subsidiary of HSBC Holdings plc or a subsidiary of a holding 

company of HSBC Holdings plc (and the terms subsidiary and holding company shall 

have the meanings ascribed thereto by sections 736 and 736A Companies Act 1985) 

and/or an associated employer of HSBC Holdings plc as defined in section 231 of the 

Employment Rights Act 1996 and “Group company” means a company in the Group. 

1.25 Rights of Third Parties 

For the information of HIUL employees, the Contracts (Rights of Third Parties) Act 

1999 in the UK allows persons (including companies) to gain rights under a contract, 

even if they are not a party to the contract, unless the contract states otherwise. 

For the information of HIUL employees, no person who is not a party to this contract 

has or shall have any rights under the Act to enforce any term of this contract. No 

consent of any third party shall be required under that Act to terminate or change this 

contract. 

34

2. CODE OF BUSINESS ETHICS AND RESPONSIBLE BEHAVIOUR (‘THE 

CODE’) 

Banking is a business founded on mutual trust and public confidence. These attributes 

have to be earned and sustained over a long period by the successive generations of 

people who work in the business and can be lost overnight by irresponsible or unethical 

behaviour. The purpose of this Code is to set out in some detail the enduring principles 

which have traditionally been observed throughout the bank. They fall under three 

general principles - integrity, fidelity and self-respect - basic qualities which the bank 

expects of every employee. They also include certain corporate values to which the 

bank subscribes and which must govern our business ethics. 

These qualities are also reflected in the Core Standards of Behaviour which form part 

of the performance measurement process. The Core Standards of Behaviour are set out 

at 2.5 of the Handbook. 

Whilst the Code is not contractual, it does form part of the general standards of conduct 

which the bank expects all employees to reach. Failure to abide by the Code may result 

in disciplinary action being taken against you, which could include dismissal. 

The Code (including the Core Standards of Behaviour) may be altered or modified from 

time to time by notice to you or by circular. 

2.1 Integrity 

Integrity implies being fully worthy of the trust placed in us by our clients and 

employer by being honest, impartial and truthful. This means: 

• Acting at all times in an honest and upright manner both in our corporate and 

personal dealings, recognising that our personal conduct may reflect on the bank. 

• Scrupulously refraining from illegal, fraudulent, dishonest or unethical behaviour, 

particularly in relation to financial and/or business dealings. 

• Never using confidential information for personal gain or abusing the trust placed in 

us by the bank and our customers. 

• Avoiding conflict between self-interest and the interest of the employer or 

customer, and being ready and willing to disclose any potentially compromising or 

conflicting business relationships or shareholdings. 

• Ensuring that where the employment of relatives of existing employees is being 

considered that the existing employee is not involved in the decision making 

process of recruitment, salary, promotion or retention. In addition, relatives should 

not be involved in the transacting, processing or auditing of the same activity. It is 

important to ensure that there are no conflicts of interest in the roles of the relatives. 

• Observing rules for personal dealings in securities. 

• Avoiding gifts, services or hospitality, on a scale which could be interpreted as 

affecting integrity or the ability to exercise independent judgement (see also the 

rules at 3.6 of this Handbook). 

• Declining secondary employment or offers of consultancies or directorships, except 

as may be provided for by your offer letter or expressly approved in advance in 

writing by the bank (see also the rules at 3.5 of this Handbook). 

35

2.2 Fidelity 

Fidelity in banking embraces duties of loyalty, confidentiality and citizenship in 

relation to the affairs of the bank and our customers. This means: 

• Promoting the good standing and name of the bank and defending it against 

unwarranted criticism. 

• Marketing by personal example, including normally conducting your banking and 

financial services needs through the bank. 

• Ensuring that any undertakings given are within our personal capacity and fully 

honoured. 

• Safeguarding all the bank’s information and restricting access to any confidential or 

sensitive documents. 

• Keeping our customers' business, financial and personal affairs confidential by not 

disclosing information to third parties without their express consent, except where 

required by law or established banking practice. 

• Taking care over our communications – oral, written or electronic – to prevent 

others acquiring confidential information. 

• Complying fully with the laws and regulations of all countries in which we do 

business and with the published codes of relevant institutions. 

• Not knowingly engaging in business which might in any way be associated with, or 

regarded as supportive of, illegal or criminal activities, construed as bribery or 

corruption or, which would be contrary to the national interest of the United 

Kingdom or the Offshore Islands. 

2.3 Self-Respect 

Self respect is enhanced by professionalism, good citizenship and conscientiousness. 

This means: 

• Maintaining your dignity and promoting that of fellow employees, by not bullying 

or victimising colleagues for any reason and by promoting equal opportunities 

within the bank. 

• Acquiring the necessary skills, knowledge and experience to conduct business 

dealings or tasks in a professional manner and keeping abreast of current 

developments. 

• Acting with the utmost courtesy at all times. 

• Giving due consideration not just to the immediate financial effects of decisions but 

also their wider implications. 

• Avoiding practices which could make you vulnerable to financial difficulties or 

which could lead to malpractice e.g. gambling (except for very modest stakes). 

• Seeking help and advice from colleagues where difficulties arise in matters of 

professional judgement or conduct and adopting an approach of openness and 

teamwork. 

2.4 Corporate Values (in relation to personal conduct) 

These include: 

• Not knowingly allowing the bank to place itself in a position where its duty to one 

customer or client conflicts with its duty to another. 

• Ensuring that the provision of banking services (particularly where this may involve 

credit facilities) to suppliers or potential suppliers of goods and services to the bank, 

is considered on a wholly objective basis and not tied to any form of reciprocal 

agreement. 

36

• Observing the spirit and letter of regulatory requirements, recognising that the 

Financial Services Authority (in the UK) and the Offshore Islands’ equivalent 

regulatory authorities exercise supervisory responsibility for the HSBC Group as a 

whole and not just over its banking subsidiaries registered in the United Kingdom 

or Offshore Islands. 

• Maintaining bank records and systems so that all transactions are recorded in an 

accurate and prompt fashion and not falsifying records or obscuring, omitting or 

misrepresenting facts in records or communications. 

• Reporting to the appropriate internal level of authority any behaviour which 

contravenes the law, regulatory requirements, or the spirit of this Code. 

2.5 Core Standards of Behaviour 

The HSBC Group has integrity, trust and excellent customer service at the heart of its 

values. Application of these in all that we do builds our reputation, unites us, sets us 

apart from the competition and ultimately makes us even more successful. 

Active Listening 

• Listening carefully to customers and colleagues giving them undivided attention 

and asking thoughtful questions to confirm facts. 

• Being genuinely concerned about others and ready to act in their best interests. 

Understanding 

• Greeting customers, clients, and colleagues in a polite, friendly and personalised 

manner. 

• Demonstrating a pleasant, enthusiastic, helpful manner when dealing with 

customers, clients, colleagues and other people whom we work with or who work in 

our premises. 

• Communicating relevant information clearly and accurately. 

• Treating all customers, clients, colleagues and other people whom we work with or 

who work in our premises, with dignity and respect, ensuring that each receives the 

very best service. 

• Handling all customer, client and colleague enquiries, instructions and complaints 

promptly, willingly, accurately and efficiently. 

Freedom to Deliver 

• Taking pride in providing excellent customer service and personal responsibility for 

getting things right first time. 

• Positively challenging existing processes in order to improve the quality of service 

and remove the barriers that impede us from deepening our relationship with 

customers and clients. 

• Adopting a 'can do' approach and taking appropriate action to meet the needs of 

customers, clients and colleagues. 

Integrity 

• Acting in an open and honest way, recognising that personal conduct reflects on the 

bank. 

• Attending work and carrying out your duties regularly and punctually and being 

committed to the team effort. 

• Actively promoting HSBC as a reputable organisation. 

37

• Maintaining appropriate standards of responsible behaviour, dress and appearance. 

Straightforward 

• Welcoming feedback and readily apologising when mistakes have been made. 

• Addressing all matters, particularly difficult issues, with frankness, facts and tact. 

• Ensuring that all commitments given are achievable and fully honoured. 

Forward Thinking 

• Developing skills and knowledge required to do your current job well and improve 

your own performance. 

• Being adaptable and maintaining a positive approach to change. 

• Thinking ahead and anticipating customers' and colleagues' needs. 

Teamwork 

• Sharing knowledge, best practice and experience to support colleagues in the 

achievement of their goals. 

• Leading by example, contributing to team morale. 

• Actively contributing to the overall team effort. 

• Treating all colleagues with dignity and respect. 

• Placing team goals before own individual goals, if appropriate. 

38

3. RULES AND REGULATIONS 

Whilst the bank’s Rules and Regulations do not form part of your contractual terms and 

conditions of employment, they do form part of the general standards of conduct which 

the bank requires all employees to maintain. Failure to abide by any of the Rules and 

Regulations may result in disciplinary action being taken against you, which could 

include dismissal. 

These Rules and Regulations may be altered or modified at any time by notice to you or 

by circular. 

3.1 General 

You must not act at any time in any way which, in the opinion of the bank, might cause 

the bank to be brought into disrepute. 

You must at all times act with the utmost integrity and honesty in all your personal and 

business dealings. 

You must report any known breaches of Rules or Regulations, including those by 

fellow employees, to your line manager or another appropriate manager as soon as you 

become aware of them. 

3.2 Security and Fraud Prevention 

In the interests of security, fraud prevention, your safety and customer service, the bank 

reserves the right to: 

• Issue security passes, which may include a photographic image of you; 

• Search any baggage carried by employees (including hand baggage and parcels of 

any description) or vehicles entering or leaving bank premises; 

• Carry out checks on your educational and professional background and undertake 

criminal record checks (as and when permitted by the law of the UK or the relevant 

Offshore Island as appropriate) and/or credit reference checks; 

• Carry out telephone and CCTV monitoring in HSBC’s workplace; and 

• Monitor the use of e-mail, the internet, voicemail and text messages sent to bank 

telephones (mobile or otherwise), which have either originated from or been 

received via bank equipment. The bank will issue appropriate notification should 

any further monitoring be necessary in addition to the above. 

In addition, in the interests of security and fraud prevention, the bank reserves the right 

to inspect bank accounts and other facilities held by any employee. 

Fraud prevention databases have been established for the purpose of allowing 

employers to share data on their employment fraud cases. Should our investigations 

identify fraud or the commission of any criminal offence by you (on your part) when 

applying for, or during the course of your employment with us, we will record the 

details of this on the relevant fraud prevention databases. We and other organisations 

may also access this information to prevent fraud and money laundering 

Where an employee has committed an act of dishonesty either in relation to Group 

funds or customer accounts then the act should be reported to the appropriate 

authorities and support provided in relation to any prosecution. As appropriate, refunds 

39

of any misappropriated monies should be made to the customer. Notification should 

also be made to the Group’s insurers. 

You should also be aware that any information or evidence gained from such 

monitoring may be admitted as evidence in disciplinary situations. 

3.3 Communications 

You are expected at all times to maintain the highest standards of professionalism and 

integrity in all that you do, including your communications with colleagues, customers, 

clients and the public. These standards apply to communications that are verbal, written 

(e.g. memo, letter, report) and electronic (including, but not limited to fax, e-mail, 

mobile phone text messages, telephone, voicemail or the internet). If sensitive or 

confidential information needs to be sent by email to external parties it should only be 

transmitted using encryption because unencrypted data could be intercepted and used to 

commit fraud and/or to damage the reputation of the bank. 

3.4 Personal Finance 

You are expected at all times to conduct your personal finances in accordance with the 

bank's rules and conditions under which financial facilities are granted to you. 

You must not borrow money by overdrawing your bank account without prior 

authority. If you are in financial difficulty, you must consult Customer Credit Services 

or your account-holding manager for advice immediately. 

The rules and conditions under which financial facilities are granted to you by the bank 

from any source are set out in appropriate application forms and/or will be provided to 

you at the time the facilities are granted to you. All employee borrowing is subject to 

customer lending criteria. 

You must not borrow from, or lend money to, customers or other employees except in 

the course of authorised business. 

You must not gamble, except for very modest stakes, and must never put yourself in a 

situation where you are financially reliant upon the outcome of a bet or financial 

speculation. 

You must gain the prior agreement in writing of your General or Executive Manager if 

you wish to be a personal guarantor for any loan. 

3.5 Commitments Outside the Bank/Dual Employment 

You must gain the prior agreement in writing of a Senior Manager if you wish to: 

• take or continue with an additional job either inside or outside the bank; 

• become or remain a director of a company; 

• engage in any other business – this includes business activities undertaken by 

whatever medium, including business interests in internet web sites; and/or 

• act as an executor, or administrator, attorney or trustee (except for near relatives i.e. 

spouse, partner, mother, father, grandparent, brother, sister, child, grandchild). 

40

Permission will not be granted for you to take on any other role which could adversely 

affect your job with the bank, for example where it would mean you are unable to take 

proper rest periods as required by either the Working Time Regulations 1998 (UK 

only), or Article 10 of the Employment (Jersey) Law 2005 (Jersey only), or any other 

relevant working time law in your jurisdiction or which would subject you to an actual 

or possible monetary liability. Further guidelines are provided in the HR Procedures 

Manual (Commitments outside the Group) which is available on the bank’s intranet. 

3.6 Receiving Gifts and Benefits 

3.6.1 Employees working for HIUL 

You must not accept or give any gift (an item of monetary value), hospitality (lunches / 

dinners, attendance at sporting or cultural events, weekend breaks, holidays or travel 

arrangements), or other personal benefit (bequests, favours, services, loans, fees, 

anything else of monetary value) from or to any third party (external product provider, 

professionals such as accountants and lawyers, non HSBC suppliers of services, 

customers) which is likely to influence (or which other people may think likely to 

influence) your judgement or conflict with your duties to any customer or member of 

the HSBC Group. 

In circumstances where a refusal to accept a gift / hospitality / other personal benefit 

would be considered discourteous, or the gift / hospitality / other personal benefit 

offered or received is of nominal value, is appropriate, will not conflict with your duties 

to the bank or customer, and could not be construed as bribery, then the following 

thresholds apply: 

Gifts – value up to £50 

Hospitality – value up to £200 

Gifts – value over £50 (but for tax 

reasons must not exceed £250 pa per 

donor) 

Hospitality – value over £200 

All other personal benefits 

Gifts / hospitality / other personal 

benefits over the above thresholds, given 

or received by GCB2+ 

No formal approval required 

Prior approval by GCB2 (or equivalent) 

For approval on a one up basis 

Gifts / hospitality / other personal benefit approval requests in excess of the above 

should be submitted to the approver in writing. 

Gifts / hospitality / other personal benefits related to FSA regulated investment business 

(except gifts / hospitality / other personal benefits from / to a customer) are subject to 

additional record keeping requirements. This is because, if requested by a customer 

who is buying an investment product from HSBC, all gifts, hospitality / other personal 

benefits given and received by employees have to be disclosed to that customer. 

41

Should hospitality be received which after the event is valued at over £200 or more than 

20% higher than the sum originally anticipated and approved, retrospective approval 

should be obtained and documented. 

You should actively, but sensitively, discourage customers and other third parties from 

offering any gifts / hospitality / other personal benefits of any kind. 

Additionally, you must conduct yourself in such a way as to avoid potentially 

embarrassing situations and reduce the chances of incurring a presumption of 

indebtedness. 

You should actively, but sensitively, discourage customers, clients or suppliers from 

offering personal benefits of any kind (including all types of gifts, favours, services, 

loans or fees, or anything of monetary value). 

3.6.2 Employees working for HBIB or for HSBC Bank Plc on the Offshore Islands 

3.6.2.1 Gifts 

You do not have to report gifts of promotional items (pens, paperweights etc), gifts of 

up to £25 in value or ordinary business dinners and lunches. 

You must not accept gifts over £150 in value and must report any gifts worth between 

£25 and £150 to your line manager. 

You cannot accept any gift, bequest or inducement from any person which is likely to 

influence (or which other people may think likely to influence) your judgement and 

similarly you cannot make gifts etc which would influence anyone else. 

Invitations to parties, functions and events count as gifts. You should not accept such 

invitations if you are receiving more than £150 in value (i.e. that is what you would 

have to pay to go). Travel costs to and from the UK or between the Offshore Islands 

may be disregarded. 

Approval to accept items exceeding the limits may be given by senior management 

(CEO or Deputy CEO) but this would be exceptional. 

You are referred to the Compliance Officer Handbook for further details on the bank’s 

policy in relation to bribery and corruption. 

3.6.2.2 Inducements / Third Party Incentive Payments 

From time to time product providers (referred to here as the “Third Party Company”) 

whose products the bank distribute offer amounts of money or other non-monetary 

incentives (referred to here as “incentives”) over and above what is paid to the bank in 

the normal course of doing business together. This could include, but is not limited to, 

making a direct payment to HBIB / HSBC Bank plc or subsidising or meeting the cost 

of events and conferences at which HBIB / HSBC Bank plc employees attend. 

For clarity, the term “Third Party” is deemed to refer to non-HSBC Group members. 

42

The following points must be considered when accepting and using such incentives. 

Basic Principle 

Any incentive received from a product provider whether in-house or a Third Party 

Company must not be allowed to influence the quality of advice, the product offered by 

a sales person, or the choice of the actual product provider. The interests of the 

customer are paramount. 

With this basic principle in mind, provision of incentives (defined as funds received by 

the bank, or funds being earmarked by the Third Party Company but not to be paid 

directly to HBIB / HSBC Bank plc or any other non-monetary incentives) may be 

accepted and used by HBIB / HSBC Bank plc for the following purposes: 

o HBIB / HSBC Bank plc convention-type events 

o Employee Incentives (monetary or non-monetary) 

o Customer events 

o Employee training events 

General Guidelines 

HBIB / HSBC Bank plc employees should only be directly rewarded for their efforts by 

HBIB / HSBC Bank plc. Any incentive arrangement by a Third Party Company which 

is or is perceived to be a direct reward to employees, i.e. cash, is prohibited. 

The general rule is that incentives received from the Third Party Company should not 

be excessive or disproportionate to the value of the relationship with HBIB / HSBC 

Bank plc. Whilst it is appreciated this may in some cases be a subjective assessment, 

senior management must be satisfied that the acceptance of such incentives is 

appropriate in the circumstances. Consideration must be given to the scale and the 

nature of the incentive being offered. In cases of doubt please seek further advice and 

guidance from Compliance. 

The receipt of any cash incentives must be disclosed to the relevant local Finance, Tax 

and Compliance Departments. In addition, because such incentives may impact on pay 

and compensation issues, local Human Resources should also be advised of all 

payments/earmarked funds/other incentives provided by Third Party Companies. In 

addition, local Compliance for affiliate or overseas offices needs to consider any local 

rules relating to the payment of “soft commissions” (non-cash benefits) especially in 

jurisdictions where disclosure of such soft commissions is a regulatory requirement. 

The giving of ad-hoc incentives by the Third Party Company must not be contingent in 

any way on levels of business transacted by HBIB / HSBC Bank plc with the Third 

Party Company. For the sake of clarity, HBIB / HSBC Bank plc may however choose 

to distribute such incentives to its employees on achievement of set goals and measures, 

ensuring at all times such incentives do not encourage or reward inappropriate sales or 

behaviour. 

43

The acceptance of incentives must be unconditional although it is permitted to earmark 

money to meet the wishes of the Third Party Company, provided such wishes do not 

infringe any of the rules set out here. For example, a Third Party Company may wish an 

incentive payment to be used for training purposes. Any divergence from this must be 

discussed with the Third Party Company and only used with its agreement. If 

agreement cannot be reached then the money must be returned to the Third Party 

Company or used as originally intended. 

Incentives can only be accepted from a Third Party Company who appear either on the 

Best of Breed list or are a recognized HSBC supplier. 

Consideration must always be given to the reputational risk of being associated with the 

Third Party Company who provide such incentives. 

The acceptance of such incentive must be approved by the CEO or Deputy CEO in the 

CEO’s absence. 

Any exceptional request to operate outside of any of the guidelines contained here must 

be agreed by the Area Compliance Officer and approved by the CEO (or Deputy CEO 

in his / her absence) in writing prior to acceptance. 

Branding/ naming of inducements may not be made by the Third Party Company 

except where it is part of an incentive programme with many Third Party Companies 

where parts of the programme may be sub-branded. 

Special rules applicable to employee incentives 

Third Party Companies are not permitted to directly incentivise HBIB / HSBC Bank plc 

employees, they may however fund an incentive provided by HBIB / HSBC Bank plc. 

Third Party Company funded incentives should not be awarded for production or sales 

performance related solely to the Third Party Company. The only exception to this is 

where we have exclusivity arrangements with a company. Great care however must be 

taken to ensure that any such incentive does not undermine existing HBIB / HSBC 

Bank plc incentive schemes and targeting arrangements by encouraging employees to 

focus on one single product type such as insurance sales. 

In all cases our established rules, designed to avoid the creation of product or product 

provider bias, apply. It is important to stress that qualification for any award so funded, 

is to be determined solely by HBIB / HSBC Bank plc and will only be ratified once 

confirmation is received that there is no evidence of inappropriate behaviour. 

Gifted money should not be earmarked for individual or specific rewards, for example, 

the cost of sending the top performer on a holiday, or “the XYZ Company prize for the 

most improved sales person” etc. Any funding received should be included in the 

overall “incentive pot” which is then used to fund incentives determined by HBIB / 

HSBC Bank plc. 

44

You are referred to Compliance Guidance Notes on special rules applicable to local 

HSBC sales conventions, non-HSBC convention-type events and events where our 

customers are invited. 

Reporting Requirements 

All Third Party Company offers to staff, other than meals or golf not involving travel, 

require approval of the Deputy CEO (or CEO in absentia) and logging at the time of 

acceptance. The log must include the nature of the event, who attended, how they were 

chosen, the estimated cost, what cost if any there was to HBIB / HSBC Bank plc (for 

example to get staff to the event) and whether the event was undertaken in personal 

time (weekend or leave taken) or work time. The log book will be reviewed quarterly 

and initialled by the Head of Compliance, Deputy CEO and CEO. 

3.7 Diversity 

3.7.1 The Central Role of Diversity 

Diversity is central to HSBC’s brand and we value the rich diversity, skills, abilities 

and creative potential that people from differing backgrounds and experiences bring to 

the workplace. Good practice in the implementation of customer and employee 

diversity policies sets us apart from our competitors and is crucial for business success. 

Every employee plays a vital role in providing quality service to all our customers and 

helping to create an inclusive working environment, where everyone can realise their 

full potential. 

3.7.2 Your Obligations 

A key aspect of creating a diverse workplace and client base is the non-toleration of any 

form of discrimination in relation to sex, marital status, pregnancy, gender 

reassignment, race, colour, disability, sexual orientation, age, religion or other similar 

belief, ethnic or national origin. 

The bank will also not tolerate any form of harassment, victimisation or bullying of any 

kind. 

Discrimination, harassment, victimisation and bullying are extremely serious violations 

of your terms and conditions of employment. Any such behaviour is likely to lead to 

disciplinary action and may result in your dismissal for gross misconduct. 

3.7.3 Assistance 

Further details are provided in the HR Procedures Manual (Diversity). In particular, if 

you believe you are the victim of any form of discrimination, harassment, victimisation 

or bullying you should follow the guidance and advice set out in the HR Procedures 

Manual (Diversity) which is available through the bank’s intranet, and you may also 

want to seek help from your line manager or from Openline, the bank’s confidential and 

free advice and information service. 

For further details on Openline, please refer to the Openline site, which is available on 

the bank’s intranet. 

3.8 Compliance with Financial Services Regulations and Rules 

45

3.8.1 Compliance Risk 

You must be fully aware of your responsibility to comply with applicable laws, rules 

and codes and to abide by all published compliance regulations including the bank's 

procedures for personal dealing in securities. 

In addition, all branch managers and other managers at band GCB5 and above have 

explicit responsibility (which is reflected in their job description) to implement the 

Group Compliance Policy by containing any compliance risk in conjunction with the 

relevant Compliance department. The term “compliance” embraces all relevant laws, 

rules and codes with which the business has to comply. 

3.8.2 Operational Risk 

All employees must ensure that they keep themselves abreast of changes to operating 

procedures and practices, advised legal and regulatory requirements and the impact of 

new technology as appropriate to their specific roles. 

In addition managers must continually reassess the operational risks inherent in the 

business, taking account of changing economic or market conditions, legal and 

regulatory requirements, operating procedures and practices, management 

restructurings, and the impact of new technology. Once identified, operational risks 

must be recorded in the Group Operational Risk Database Online Network (GORDON) 

as described in the Operations FIM, and appropriate measures should be taken to 

minimise the bank's exposure to them. 

This requirement is contained within managerial and staff job descriptions and, if 

appropriate, should be converted into a suitable performance objective for relevant 

individuals. 

All direct reports of the CEO and COO or equivalent, and, in turn, their direct reports 

must complete a formal takeover process when moving to a new role to ensure an 

orderly and documented transfer of management responsibility. Any breaches of 

internal or external rules / procedures / regulations / law identified during the takeover 

process must be detailed in a report submitted to the appropriate level of functional 

management which outlines the issues and proposes an appropriate remediation plan. 

3.8.3 Consumer Protection 

The Financial Services and Markets Act 2000 (“FSMA”), the Financial Services 

(Jersey) Law 1998, The Protection of Investors (Bailiwick of Guernsey) Law 1987, as 

amended, the Investment Business Acts 1991-1993 (as amended) of the Isle of Man and 

the Banking Act 1998 (as amended) of the Isle of Man and the relevant local 

investment business legislation in the Offshore Islands require all companies 

undertaking “regulated activities” to be authorised by the appropriate regulator: the 

Financial Services Authority (“FSA”), the Jersey Financial Services Commission 

(“JFSC”), the Guernsey Financial Services Commission (“GFSC”) and the Isle of Man 

Financial Supervision Commission (“IFSC”) and some individuals to be individually 

registered as an “Approved Person”. The FSA, JFSC, GFSC and IFSC set out detailed 

rules with which all authorised firms and individuals must comply. These rules must be 

followed whenever a regulated activity is undertaken. Further information on regulated 

46

activities can be found on the bank’s intranet and in the Business Instruction Manual – 

Compliance. 

Procedures which reflect regulatory requirements are also incorporated in office 

procedures manuals and circulars. Observance of the Group’s policies and procedures 

will ensure that the interests of customers, as well as the Group’s reputation, are 

protected and will minimise the risk of penalties being imposed upon a Group company 

and/or upon an employee, which can arise from non-compliance. In particular, 

employees must comply with the requirements of the Business Instruction Manual - 

Compliance and the Business Instruction Manual - Data Protection which can be 

accessed through the bank’s intranet site. 

As part of your job, you may be required to be registered as an Approved Person with 

the FSA, JFSC, GFSC or IFSC by way of a formal agreement. If so, this will require 

you not only to abide by the regulators’ principles and rules but additionally to accept 

personal responsibility for certain actions under the relevant legislation. 

3.8.4 Dealing Rules - Employee Dealing Procedures 

Personal dealing in securities by all employees is subject to specific procedures, which 

may be amended from time to time, and which must be strictly observed at all times. If 

you are a new employee, a copy of the guidelines to employees will be made available 

to you when you commence employment, and you should read them on receipt. 

If you wish to buy or sell securities (e.g. stocks and shares, but see the procedures for a 

full list of what is deemed to be a security) you must observe the UK Employee 

Dealing Procedures which are relevant to Offshore employees as well as UK 

employees. These set out procedures and conditions to ensure that employees' dealings 

comply with the Group's policy, the Financial Services Authority regulations and the 

relevant criminal law including, the Insider Dealing Act (1998), the Company 

Securities (Insider Dealing) (Jersey) Law 1988, the Company Securities (Insider 

Dealing) (Bailwick of Guernsey) Law 1996 as amended and the Criminal Justice Act 

1993. It is very important for you to understand the implications of these regulations. 

In particular, you should read carefully the restrictions which apply if you are in 

possession of inside information. Dealing when in possession of such information, 

passing such information to others or procuring others to deal while in possession of 

such information can amount to criminal offences under the relevant legislation listed 

above. The laws on insider dealing are complex legislation and it is essential that the 

advice of your line manager is sought before dealing if you have any doubt about the 

transaction. 

There are special rules for dealing in HSBC Group Securities which affect certain 

employees. 

A full copy of the UK Employee Dealing Procedures is contained in the Business 

Instruction Manual – Compliance which is available on the bank’s intranet. 

Failure to observe the UK Employee Dealing Procedures may result in disciplinary 

action, including dismissal, being taken against you. You may also be subject to 

criminal prosecution. 

47

3.8.5 Lending – Conflicts of Interest 

If you are involved in recommending or approving any credit facility or counterparty 

limit for a customer in which you or any connected person have a significant 

investment, you must inform your line manager immediately in writing. Your line 

manager will need to be satisfied that the investment does not and will not influence 

approval of credit facilities or counterparty limits and keep a note of these details. 

A "connected person" is defined in the Business Instruction Manual – Compliance (UK 

Employee Dealing Procedures). 

A "significant investment" is defined as: 

• any investment in an unlisted company or partnership; 

• any other investment with a market value of £15,000 or more. 

Failure to comply with any of these requirements is likely to lead to disciplinary action 

and may result in your dismissal for gross misconduct. 

Employees with lending authority have specified limits set for their lending which are 

set out in a letter of authority given to them. Under no circumstances may you grant 

credit or loans outside the limits of authority which have been set for you. 

Employees with lending authority must not grant credit or loans to themselves, their 

immediate family, partners or friends, or to companies in which they, their immediate 

families, partners or friends have an interest, financial or otherwise. 

3.8.6 Money Laundering Deterrence 

You must abide by all published money laundering rules, regulations and procedures. 

'Money Laundering' is the name given to the process by which the identity of illegally 

obtained money is changed so that it appears to have originated from a legitimate 

source. Banks and other financial institutions may be used unwittingly as intermediaries 

for the transfer or deposit of funds derived from criminal activity. 

Criminals and their associates use the financial system in order to hide the source and 

beneficial ownership of money by making payments and transfers of funds from one 

account to another, purchasing monetary instruments such as drafts and travellers 

cheques and using safe-deposit facilities to provide storage for bank notes. The process 

is also used in the financing of terrorism although the funds involved may not in 

themselves be the proceeds of a criminal act. 

The HSBC Group has developed and introduced a Money Laundering Deterrence 

Programme – Global Policy and Principles (GPPs) that generally reflects the antimoney 

laundering legislation in the UK. Each relevant business operation has 

introduced the appropriate internal procedures to ensure compliance with the GPPs and 

the local legislation where applicable. 

The following list is by no means comprehensive, but identifies some of the key aspects 

of which everyone dealing with customers and clients should be aware: 

48

• care should be taken to verify the identity of all new clients (including in some 

situations those non-customers for whom business is occasionally undertaken) and 

the ownership of all accounts properly established 

• be alert to unusual or large transactions which may give rise to suspicions 

• if you become suspicious that funds held on an account or transactions undertaken 

are related to criminal activity, you must report the matter to the Money Laundering 

Reporting Officer (“MLRO”) in accordance with local reporting requirements. 

Failure to report suspicions or failure to report where there are reasonable grounds 

for suspicion may lead to action being taken against you under the bank's procedure 

for gross misconduct. 

Within some jurisdictions (including the UK) local legislation imposes severe penalties 

on individuals (including possible imprisonment) on conviction of offences detailed 

under local law. All employees must therefore be constantly alert to their 

responsibilities and the risks to which they are exposed. The existing anti-money 

laundering legislation in the UK places personal responsibilities on all employees and 

provides that you are committing an offence if you: 

• know or suspect, or have reasonable grounds to know or suspect, that another 

person is engaged in money laundering and do not report your knowledge or 

suspicion; and/or 

• reveal in any way to a person (customer, non-customer or employee) that they 

are the subject of a report or an investigation. 

Further details can be found on the Offshore International Intranet / Resource Centre / 

AML & CTF Microsite or can be obtained from the Compliance team on 7981 6832 

(Internal) or 01534 606 832 (External). For UK based employees, further details are 

provided in the Business Instruction Manual – Compliance which is available on the 

bank’s intranet or can be obtained from the Money Laundering team on 799 17312 

(Internal) or 020 7991 7312 (External). 

3.9 Whistle-Blowing 

In the UK, the Public Interest Disclosure Act 1998 and the US Sarbanes-Oxley Act 

2002 are designed to provide employees, and other persons such as agency temps, with 

a procedure to disclose genuine concerns, which seem to involve unlawful conduct or 

financial malpractice, and to protect them from victimisation when making disclosures. 

This is why such disclosures are known as ‘protected disclosures’. The disclosure of 

wrongdoings within an organisation is commonly known as 'whistle-blowing'. In the 

Isle of Man the Employment Act 2006 and the Public Interest Disclosure (Permitted 

Persons) Order 2007 provide ‘whistleblowing protection’. No such statutory protection 

exists under either Guernsey or Jersey legislation. 

One of the bank's key business values is to be a fair and objective employer and so it 

has developed a procedure, in line with the above Acts, to help you raise any concerns 

about wrongdoings at work. Under the bank’s procedure the following are protected 

disclosures: 

1 Breaches of legal and regulatory requirements by any Group company, 

including the committal of a criminal offence, a miscarriage of justice or a 

failure to comply with a legal obligation. 

49

2 Failure to adopt policies consistent with the Group Standards Manual. 

3 Fraud or deliberate error in the preparation, evaluation, review or audit of any 

financial statement. 

4 Fraud or deliberate error in the recording and maintaining of financial records of 

any Group company. 

5 Deficiencies in or non-compliance with any Group company’s internal 

accounting controls. 

6 Deviation from full and fair reporting of any Group company’s financial 

condition. 

7 Misrepresentation or false statement to or by a Group Executive Officer or 

Accountant regarding a matter contained in the financial reports or audit of any 

Group company. 

You can make a protected disclosure by reporting the matter to your line manager or 

Human Resources. However, any disclosures falling within categories 2-7 must, due to 

our legal obligations, be reported to Group Compliance. If you feel unable to raise the 

matter with your line manager, or Human Resources, for whatever reason, you should 

call the Group Compliance telephone 'hotline' on 799 12155 (Internal) or 020 7991 

2155 (External). Alternatively, you may send an e-mail to: 

compliancedisclosureline@hsbc.com or make a protected disclosure in writing, to the 

Head of Group Compliance, HSBC Holdings plc, Level 42, 8 Canada Square, London, 

E14 5HQ. 

However, if your concern relates to your personal position, rather than a concern about 

malpractice, it will normally be more appropriate for you to use the bank’s grievance 

procedure, which is set out in the HR Procedures Manual (Grievance Procedure) and 

can be accessed through the bank’s intranet. 

Full details of the ‘Whistleblowing’ procedure, along with the HSBC Group’s general 

policy on disclosure, are contained in the HR Procedures Manual. 

3.10 Data Protection 

3.10.1 Personal Data and Sensitive Personal Data 

The type of personal data that we hold will include information relating to payroll 

processing, references, family and other contact details and records (including, for 

example, job applications, and when relevant, details of any grievance and disciplinary 

procedures) relating to your recruitment and career with us. Information may also be 

disclosed to and from other members of the HSBC Group for payroll and administrative 

purposes, for purposes connected with your career, and for audit requirements. 

50

We will only collect and process data in a fair and lawful manner. Sensitive personal 

data will only be processed with your agreement, unless required to meet statutory 

obligations. The types of sensitive data we hold about you may comprise of: 

(i) Information about your health, which would be used to ensure compliance: 

• with health and safety and occupational health obligations; 

• when considering any health issues that may affect your ability to work; 

• if you are disabled; 

• should you require time off work or special arrangements to look after a family 

member or friend, we may keep a record of such absences; 

• for administration and management of insurance, pension, sick pay and other 

similar benefits. 

(ii) Recording racial or ethnic origin or religious beliefs. This data is held to fulfil our 

statutory obligations to ensure equality of opportunity at work. 

(iii) Information for security, fraud prevention, and regulatory purposes. We may in the 

course of your recruitment and periodically during your career undertake appropriate 

security and credit reference checks. 

In some instances we may be required by law to provide certain information to a third 

party, such as the HM Revenue & Customs, governmental or non-governmental 

regulatory bodies or the Offshore equivalents. 

Information may also be exchanged with other members of the HSBC Group for 

purposes connected with your career, and for audit requirements. Information may also 

be processed on our behalf by members of the HSBC Group, and/or third parties. 

However, whether or not such information is processed outside the European Economic 

Area (where there may be less stringent data protection laws) it will be protected by a 

strict code of secrecy and security and will only be used in accordance with our 

instructions. If your (sensitive) personal data is transferred or held overseas, we will 

ensure your rights as an individual are protected. 

In order to give you information about products and services we provide together with 

products supplied by selected third parties, we may use, analyse and assess information 

that is held about you. We may pass information to other members of the HSBC Group 

and such selected third parties so that they may do the same, but your name and address 

will not be disclosed for marketing purposes unless you have given your consent. 

Under Data Protection legislation, you can ask in writing for a copy of certain personal 

records we currently hold about you. A charge of £10 will be made. 

3.10.2 Employees' Responsibilities 

The relevant data protection legislation is the Data Protection Act 1998 (UK), the Data 

Protection Act 2002 (Isle of Man), the Data Protection (Jersey) Law 2005 and the Data 

Protection (Bailiwick of Guernsey) Law 2001. Under the data protection legislation, all 

employees have a responsibility to ensure that their own personal data is accurate, upto-date 

and kept secure. Unauthorised disclosure of third party personal data is a serious 

offence and can result in prosecution. Therefore you must ensure that you: 

51

• do not disclose any individual’s personal data without authority; 

• do not treat personal data carelessly; 

• lock all data (including disks, tapes, paper printouts etc) away when not in use; 

• do not disclose your computer password to any unauthorised person; 

• only use personal data for the lawful purposes for which the bank has been 

registered; 

• do not write personalised or derogatory comments about a customer, client, 

colleague or any other third party. 

Guidelines on regulations and procedures regarding the handling of information 

relating to customers and employees is set out in the HR Procedures Manual (Data 

Protection – Use, Retention and Disclosure of Personal Data and Data Protection 

Regulations for Staff Files), which is available on the bank’s intranet. 

3.11 Use of Information Technology 

You must strictly observe the bank's rules in relation to information technology. In 

particular you must: 

• conform with any security measures which are in place to protect the bank's data 

and/or computer equipment and access control; 

• exercise proper control over passwords, Personal Identification Numbers or any 

other security mechanisms, and ensure that any information technology resources 

which are in your control (such as access to a computer, laptop, mobile phone, 

blackberry) are kept secure and safe at all times; 

• lock all devices when not in use; 

• erase all information when it is no longer required to ensure it cannot be recovered 

maliciously. This includes physically destroying any CD and DVD media that 

cannot be erased; 

• observe any rules, regulations, codes or internal procedures which are in place with 

regard to the use of the bank’s equipment including mobile phones, 2 way pagers, 

blackberrys and PDAs (whether for business or personal use); 

• ensure that guests, visitors and contractors are aware of the bank’s policies 

regarding the use of the bank’s equipment; 

• be vigilant and report any contravention of the bank’s Security Guidelines to senior 

management or to IT Security on 790 27969 (UK based employees) or 

79816277(Offshore). 

You must not: 

• install or use unauthorised software on bank equipment either on or off bank 

premises; 

• use unauthorised computer equipment to process the bank's data; 

• make unauthorised copies of software; 

• enter systems without proper authority; 

• access or attempt to access any data maintained on any of the Group computer 

systems, which you are not specifically authorised to access; 

• access customer or employee records without a specific business need or 

operational reason; 

• effect changes or make transactions on your own account or any account with 

which you are associated; 

52

• take photographs or video images in any bank premises, using any kind of 

equipment (including mobile phone cameras) without the prior permission of senior 

management or security management; 

• connect (physically or by any type of wireless) any unauthorised device to the 

bank’s computer systems or networks. No personal data storage device is to be 

attached to the bank’s systems without prior management approval and without 

ensuring that the appropriate security controls for data storage are applied (a 

personal data storage device is defined as any non bank owned device that has the 

capability to have data transferred and stored on it); 

• take photographs that infringe personal privacy or customer or client confidentiality 

(for example on special occasions, at award ceremonies etc), or that compromise 

the security of employees, customers, clients, premises and equipment; 

• use mobile phones in areas such as computer rooms, network rooms and trading 

floors where their use may cause distraction or a breach of security or compliance 

regulations. Relevant business specific or local instructions should be followed. 

Digital recording devices such as floppy discs, CDs and DVDs should only be used to 

store bank and/or Group information if there is no other alternative. Devices of this 

type are vulnerable to compromise and can be easily read. You must consider carefully 

the risks of storing sensitive information on mobile recording devices and the potential 

danger to the bank if the information is lost. As a matter of course, if documents are 

being physically transported, they should be password protected. If in any doubt, err on 

the side of caution and do not use these devices until you have spoken to your line 

manager for advice. 

Mobile recording devices should never hold the only copy of information stored. 

Another copy must always exist on a bank owned computer to provide contingency. 

In all circumstances local management may restrict use of these devices further if it is 

deemed appropriate and in the interests of the security of the bank and/or Group’s 

information and the protection of employees, customers and clients. 

Unauthorised software comprises any software that is not on the Group's IT list of 

approved software or which has not been procured via the Purchasing Department (or 

future equivalent) and includes any unsolicited software, demonstration software that 

has not been previously checked by Group IT Security and any software that is 

delivered in such a way that it may have been tampered with. 

You are required to act in accordance with the bank's policies and guidelines on the 

security of information and the use of information technology at all times. Security 

Guidelines on the regulations and procedures regarding information technology are 

encapsulated in the document entitled Group IT Security Standards which is available 

on the Group IT intranet under IT Security, Group IT Security Awareness. 

The policy explaining the appropriate use of Group e-mail systems, the internet and 

mobile phones and also what is inappropriate use, is contained in the HR Procedures 

Manual (Internet, Email and Company Mobile Phones), which is available on the 

bank’s intranet and in the Security and Fraud Functional Instruction Manual. You 

should note that the bank may monitor the content of emails and other electronic 

53

messages sent from its property. The bank will also monitor internet use and content 

when using the internet. 

Failure to comply with any of these requirements and, in particular, the use of 

unauthorised software on Group equipment is an extremely serious violation of your 

terms and conditions of employment. Any such failure is likely to lead to disciplinary 

action and may result in your dismissal for gross misconduct 

3.12 Health, Safety and Fire 

The bank attaches the greatest importance to the health, safety and welfare of its 

employees at work. Every effort is made to provide safe working conditions and to 

prevent fire or other damage. 

However, no safety policy is likely to be successful unless it has the co-operation of all 

employees. Everyone should do everything possible to prevent injury to themselves and 

others. 

The Health and Safety at Work Act 1974 (UK), the Health and Safety at Work (Jersey) 

Law 1979, the Health and Safety at Work (General) (Guernsey) Ordinance 1987 and 

the Health and Safety at Work etc Acts 1977 and 1974 and associated regulations (Isle 

of Man) and subsequent regulations place the duty on every employee, while at work, 

to: 

• take reasonable care for the health and safety of themselves and others; and 

• co-operate with the employer in meeting the duties and requirements of the relevant 

statutory provision. 

As an employee of the bank, you have a personal responsibility to take care of yourself 

and others and to avoid placing yourself or others in a situation that is hazardous or a 

risk to health. 

You must also ensure that you are familiar with all bank emergency procedures, 

including actions to take on discovery of a fire, bomb or other hazard. If you are unsure 

about or unfamiliar with the bank’s emergency procedures you must speak to your line 

manager. As your employer, the bank has a duty to safeguard the health, safety and 

welfare of all employees. 

In addition, an incident may require you to exit your place of work at short notice or an 

incident may occur, preventing access to your place of work. In these circumstances 

you need to be aware of the number to telephone to receive updated information and to 

report your safety (Employees based in Headquarters: 08000 322 722; Employees 

based elsewhere 0800 731 3575) and which websites will provide you with information 

(www.hsbc.com). 

These responsibilities, together with procedural arrangements, are detailed in the 

Business Instruction Manual (BIM) – Health, Safety and Fire, which is available 

through the bank’s intranet (Branch Procedures Manuals). 

The specific objectives of the bank's Health, Safety and Fire Policy are to: 

• promote a healthy and safe working environment; 

54

• ensure each employee accepts health and safety as a major part of their individual 

responsibilities; 

• identify health, safety and fire hazards in advance, and control the risks; and 

• ensure all legal requirements are satisfied. 

A Central Safety Committee consisting of representatives of the bank, Unite and the 

National Council meets at regular intervals to discuss health, safety and fire issues, and 

exchange information and resolve problems. 

Unite representatives in the workplace (known as Joint Accredited Office 

Representatives) are recognised by the bank and Unite as Health and Safety 

Representatives, as defined under legislation within an area of representation jointly 

agreed. In this capacity, they may inspect the workplace and advise management of 

their findings. 

Further details on health and safety, including information on first aiders and specific 

areas of risk, such as upper limb disorders and night workers are contained in the HR 

Procedures Manual. 

3.13 Circulars, Instructions and Authority 

Key communications about changes to procedures, rules, regulations and terms and 

conditions of employment will normally be detailed in a circular, which will be 

published on the bank’s intranet. 

You are required to read and observe all instructions applicable to you and all 

appropriate circulars issued by the bank. 

You are required to ensure that you act at all times within the authority granted to you 

by the bank. 

3.14 Dress and Appearance 

Whether or not your job involves contact with the public, you are required to dress in a 

way that the bank considers appropriate to the business situation. Account will be taken 

of religious and cultural norms. Styles that could offend normally accepted standards 

will not be permitted. 

Dress and appearance requirements may be varied by local arrangement at your place 

of work. Any particular requirements will be brought to your attention during your 

employment. 

3.15 Alcohol and Drug Misuse 

An employee who suspects they have a drug or alcohol dependency is actively 

encouraged to seek help through the bank’s Occupational Health Services or Open 

Line, a free and confidential service which provides counselling and information to all 

bank employees. Details on Open Line can be found on the bank’s intranet under HR & 

Learning, Health & Family. 

In order to help the employee (and subject always to the employee’s permission), 

Occupational Health will usually need to liaise with the employee's line manager who 

will therefore need to be advised in general terms as to the nature of the problem. 

55

Clinical details are not disclosed and remain confidential unless the individual gives 

written permission to the contrary. 

Dependency is distinguished from cases where an employee might occasionally arrive 

at work under the influence of alcohol or drugs. Such cases will be dealt with under 

normal disciplinary procedures. Incapability at work caused by alcohol or drugs is 

treated as a very serious matter and may result in your dismissal for gross misconduct. 

56

4. BENEFITS AND FACILITIES 

You may be eligible to take advantage of certain benefits and facilities provided by the 

bank from time to time. Further information will be available at your place of work in 

respect of other benefits and facilities which may be available to you locally. 

The benefits listed below are a summary only. Full details and/or further information on 

specific benefits can be obtained from the HR Procedures Manual, which is available 


These benefits and facilities do not form part of your contract of employment. All 

benefits and facilities are subject to certain rules on eligibility and operation, which 

may change from time to time. 

4.1 Benefits applicable to HBIB, HIUL and HSBC Bank Plc employees covered by 

this Handbook 

The following benefits set out in this section 4.1 are potentially available to HBIB, 

HIUL and HSBC Bank plc employees who are covered by this Handbook. 

4.1.1 Personal Loans 

Unsecured personal loans at concessionary rates may be available in accordance with 

the limit and terms which may be in force at the time. 

4.1.2 Pound for Pound Scheme 

The bank will, subject to certain rules, match charitable funds raised through employee 

time given and fund raising events to a certain limit, per person per event per annum. 

Forms are available from your work location or can be ordered via Buy Smart - order 

number 20456-1. 

4.1.3 Open Line 

To help employees manage personal or work difficulties, the bank offers all employees 

based in the UK and the Offshore Islands access to Open Line, a free and confidential 

counselling service. Open Line provides practical help and counselling on personal 

issues, such as bereavement, depression and relationship problems. Help is also 

available with a wide range of work related difficulties, such as bullying and 

harassment, lack of confidence, work stress and role problems. Open Line can also 

provide support when employees are experiencing stress in connection with matters 

which are the subject of disciplinary or grievance investigations or proceedings. 

Telephone support is available 24 hours a day, 7 days a week. To make an appointment 

to see or speak to a counsellor please call between 9:00am and 5:00 pm Monday to 

Friday. Counselling appointments are available outside these times. 

The service can be contacted by telephone or in writing, and is open Monday to Friday 

9 am to 5pm. Appointments for telephone or face to face counselling can be made 

during these hours, or, by prior arrangement outside these hours. The telephone number 

is 08457 666 999, and the textphone for deaf employees is 08455 854 054. 

57

Please note that, if you work in an area where calls are routinely monitored (such as a 

Customer Service Centre) you should ensure you use a non-monitored phone or a 

private phone, to preserve your confidentiality. 

Further information on Open Line can be found on the bank’s intranet under HR & 

Learning, Health & Family. 

4.1.4 Holidays Fund 

Work locations may run such a scheme. Details are contained in the HR Procedures 

Manual (Holidays - Fund), which is available through the bank’s intranet. 

4.1.5 Private Medical Plan 

You may be eligible for membership of an HSBC Group Healthcare Plan. This 

provides cover for yourself and your immediate family (including partner and 

dependant children up to the end of the plan year in which they achieve the age of 21) 

during your employment. Details will be made available to you. The plan you may be 

eligible to join will depend on whether you are employed by HSBC Bank plc, HBIB or 

HIUL and whether you are based in one of the Offshore Islands or the UK. Each plan 

operates on terms and conditions which are in force at the present time and the bank 

reserves the right at any time to vary or withdraw the scale or level of benefits in force. 

Further details can be found on the Offshore intranet site. 

Subject to the rules of the relevant plan (including rules on eligibility) an HSBC Group 

Healthcare Plan is open to all employees, whether clerical or managerial, employed by 

either HBIB or HSBC Bank plc on the Offshore Islands. Clerical employees working 

for HIUL in the UK will not be eligible for membership of an HSBC Group Healthcare 

Plan although managerial employees working for HIUL in the UK may be so eligible. 

The bank reserves the right in the future to alter the rules of the relevant HSBC Group 

Healthcare Plan to enable it to ask key-time employees on the Offshore Islands who are 

eligible for membership of an HSBC Group Healthcare Plan to make a personal 

contribution towards cover under the Plan pro-rated to the hours worked. 

4.1.6 Medical Examinations 

Managers in certain grades may have a medical examination. These will be held for 

eligible HIUL employees through one of the BUPA Health Screening Centres and for 

eligible employees on the Offshore Islands at a local practice. Details including 

information on eligibility and frequency of screenings are set out in the HR Procedures 

Manual (Medical Examinations), which is available on the bank’s intranet. 

If you are based on the Offshore Islands, before booking a medical examination, you 

should ensure that the amount the bank will pay towards the cost of the medical 

examination will fully meet the local doctor’s charges. Please see the HR Procedures 

Manual (Medical Examinations) for the relevant amounts. 

58

4.1.7 Mortgage Subsidy Scheme 

The Mortgage Subsidy Scheme is designed to encourage employees to take their 

mortgage borrowing with the bank. Currently a monthly subsidy payment will be paid 

with salary subject to the rules of the scheme as they may exist from time to time. 

Details of the scheme including information on eligibility and rates are set out in the 

HR Procedures Manual (Mortgage Subsidy Scheme), which is available on the bank’s 

intranet. 

4.1.8 Staff Accounts 

Preferential facilities, including rates of interest, may apply to staff accounts. Details 

are available from your branch and in the HR Procedures Manual (Staff Accounts), 

which is available through the bank’s intranet. 

4.1.9 HSBC Corporate Card 

A HSBC Corporate Card must be used by all managers, and appropriate employees, 

who incur business expenses on a regular basis. Such employees will pay for 

appropriate business travel, accommodation, and entertainment items with an HSBC 

Corporate Card, where issued, and subsequently reclaim such expenses. 

The card is provided for business expenses only and must not be used for personal 

expenditure or to make cash withdrawals other than for foreign currency required for 

incidental expenses during a business trip. Misuse of the Corporate Card may result in 

disciplinary action, which could result in dismissal. 

Details on the HSBC Corporate Card including information on eligibility and card 

limits are set out in the Expenses & Policy Procedures Manual, which is available via 

Lotus Notes. 

4.2 Benefits applicable to HIUL employees in the UK only 

The following benefits in this section 4.2 are only potentially available to HIUL 

employees who are based in the UK and who are covered by this Handbook. 

4.2.1 Give as you Earn 

Through this scheme, run in association with the Charities Foundation, you may be 

able, via payroll deduction, to make tax free donations to charities of your choice. Your 

money can go either direct to nominated charities, or you may be able to hold an 

account with the foundation, enabling you to donate in a flexible manner. Further 

details are available in the HR Procedures Manual (Charity Scheme – Give As You 

Earn) which is available on the bank’s intranet. 

4.2.2 ‘Keep the Change!’ 

‘Keep the Change!’ is a simple and regular way to donate the odd pennies from your 

net salary to six nominated charities each month, For example if you earn £900.17 then 

by signing up to ‘Keep the Change!’ you can donate the 17p to charity. If your salary 

varies each month then the pennies donated may also vary. The maximum you give 

each month is 99p. 

59

Distribution costs are covered by the earned interest and therefore 100% of the monies 

donated will be received by the nominated charities. The donations will be received by 

the charities within 30 days of receipt by the distribution company. Further details are 

available in the HR Procedures Manual (Charity Scheme – Keep the Change!), which is 

available on the bank’s intranet. 

4.2.3 Season Ticket Loan 

Interest free season ticket loans, repayable via payroll deduction, may be available to 

you. Additional information is available in the HR Procedures Manual (Season Ticket 

Loan Scheme), which can be accessed through the bank’s intranet. 

4.2.4 HSBC Childcare Scheme 

The HSBC Childcare Scheme is open to HIUL employees based in the UK with 

children up to the age of 16 years. It is run under a system known as ‘salary sacrifice’. 

This means that you agree to reduce your salary in exchange for childcare payments. 

These childcare payments are not subject to income tax and NI deductions, and there 

will be a saving to you on the amount you choose to reduce your basic salary by. 

The scheme consists of two elements that you can take advantage of. 

4.2.4.1 HSBC Designated Nurseries 

Benefits: 

• flexibility in terms of selecting and securing a nursery from over 500 HSBC 

designated nurseries UK-wide 

• a discounted corporate rate in the HSBC designated nurseries 

• 100% tax and NI exemption on the total fees paid via salary sacrifice 

4.2.4.2 All Other Forms of Childcare 

Benefits: 

• flexibility, in that you can use childcare vouchers to pay for a wide range of 

registered or approved childcare, including nursery care (in non HSBC 

designated nurseries), childminders, nannies/au pairs, out of school clubs and 

holiday playschemes 

• available to working parents (with children up to the age of 16 years) 

• tax and NI exemption on up to £50 per week per employee (or £217 per month) 

of fees paid via salary sacrifice 

60

4.2.4.3 The HSBC Childcare Scheme at a glance 

HSBC designated 

nursery 

Independent 

nursery 

Child 

minder 

Nanny/ 

au pair 

After 

school care 

Holiday 

playscheme 

Relative 

You can join the scheme and 

get discounted nursery rates 

plus your total nursery fees 

can be tax and NI-free if paid 

via salary sacrifice. 

You can save up to 33% of 

the fees (basic rate tax payers) 

or up to 41% of the fees 

(higher rate tax payers). 

You can join the scheme, provided 

that your childcare provider is 

approved or registered, and the first 

£217 per employee per month spent 

on childcare via salary sacrifice will 

be tax and NI free. 

You can save up to £859 per year 

(basic rate tax payers) or up to £1067 

per year (higher rate tax payers). 

You are not 

able to join the 

scheme if a 

relative 

provides all 

your childcare. 

Membership of the Scheme is subject to certain eligibility criteria and basic pay 

thresholds. For more information, please refer to the HR Procedures Manual (Childcare 

provisions), which is available on the bank’s intranet. 

4.2.5 HSBC Group Sports and Social Clubs 

The Group has two sports and social clubs for use by employees and their families. In 

London, activities are centred in New Beckenham and in Sheffield at Dore. 

There is a wide range of sports and leisure facilities available at these centres as well as 

a rowing club at Putney, London and sailing centres country-wide. There is also a fully 

equipped gym and class studios, known as ‘The Fifth Dimension’ at the bank’s 

Headquarters. 

For information and an application form, call 7213 4366 (Internal, London) or 020 

8919 4366 (External, London); 790 28898 (Internal, Sheffield) or 0114 252 8898 

(External, Sheffield). 

61

5 YOUR CAREER WITH THE BANK 

Set out below are some of the main issues which may affect you during your 

employment, together with an outline of the bank’s policies and procedures in respect 

of each matter. Further information on each issue, and many other issues which may be 

of interest or which may affect you during your employment, are available in the bank’s 

HR Procedures Manual, which can be accessed via the bank’s intranet. 

This section does not form part of your contractual terms and conditions of 

employment. 

5.1 Job Evaluation 

Jobs are formally evaluated using the HAY system. The HAY evaluation system is 

amongst the most widely used in the world. It is recognised as a consistent and fair 

method of measuring and comparing the relative size of jobs in the organisation. 

The evaluation process is based on an agreed job description for individual jobs, or a 

generic description covering jobs which are similar in content and skill requirement 

across departments or branches in the bank. A panel of trained evaluators meets 

regularly to consider these job descriptions. Points are awarded using common factors 

and agreed criteria, with the resulting total indicating the level and grade of the job. If 

you consider that your job is incorrectly graded, you may appeal. 

Further details of the process and its application to your job are available in the HR 

Procedures Manual (Job Evaluation), which is available on the bank’s intranet. 

5.2 Employee learning and development – investing in your future 

The bank is committed to creating a learning organisation that promotes and supports 

individual development and is the envy of other global companies. We recognise that 

superior knowledge and skills of our employees are vital if we are to deliver a first class 

service to our customers, continue to grow as a business and be better than our 

competitors. At the same time, we want the bank to be a great place to work where 

employees have job satisfaction, grow with us and make a long-term commitment to 

stay with the bank. 

Whatever your personal learning and development goals are and regardless of your 

career aspirations with the bank, we have a wide range of opportunities for career 

development. Opportunities include the weekly 'Development Opportunities' and local 

bulletins where role vacancies within the bank are advertised, e.g. Offshore jobs. 

Learning is most effective when it is enjoyable, made as accessible as possible, with 

you in control and conducted at your own pace. Our goal is to make learning and 

development something that everyone in the bank is passionate about. We know that 

when it comes to learning, one size does not fit all and everyone is different – we all 

have different levels of knowledge or experience and we all like to learn at different 

speeds and in different ways. 

“My Learning” is a learning management system. It is your personal link to a wealth of 

learning opportunities. It is a single point of access for all learning activities and 

62

information resources and a key part of the bank’s flexible learning approach. It 

improves the speed, quality and effectiveness of the learning process, providing greater 

opportunity for all employees to take part in learning activities, regardless of current 

job role, future career aspirations or location. 

5.2.1 Identifying learning and development needs 

Learning is developing new knowledge and skills and building on and improving the 

skills you already have to enable you to gain more from your current role or to prepare 

for your next job with the bank. We want you to take control of your personal learning 

and development by identifying your development needs and preparing your own 

learning and development plan. 

There are several resources to help you prepare your personal learning and 

development plan including the Group Capabilities Framework and the Career 

Development Review. Links to these can easily be found on the HR and Learning 

pages on the bank’s intranet. 

The Group Capabilities Framework highlights the skills and actions that best support 

the Group’s Managing for Growth strategy. It describes the bank’s corporate character 

and translates this into the qualities expected of all our employees, by defining the 

required skills, attitudes and behaviours. 

The Group Capabilities Framework and “My Learning” include explanations on how to 

access the weekly ‘Development Opportunities’. 

Managers of the bank in bands GCB5 - 4 are able to utilise the Career Development 

Review. It provides an opportunity for such managers to reflect on strengths and 

development needs, identify career goals and aspirations and plan the best way forward 

to achieve them. 

5.2.2 Learning & Development 

The Learning & Development team has learning and development professionals who 

are responsible for a wide range of learning activities, all of which are accessible 

through My Learning. The team liaises with business units to provide the best learning 

solutions throughout the bank and the HSBC Group. Your learning may be provided 

face to face locally, at our premier Group Management Training College in 

Hertfordshire, through personal coaching or with online, video and paper-based 

learning materials. 

A wealth of knowledge exists in the bank, take a look on “My Learning” at some of the 

vast array of resources that will suit your needs. 

If you are interested in finding out more about Learning & Development please contact 

them on 7981 6674 (Internal) or 01534 606 674 (External). For UK based employees 

please call 7988 8528 (Internal) or 01923 688 528 (External). 

5.2.3 Professional and Technical Qualifications 

If you would like to study for a specific professional or technical qualification, the bank 

may be able to provide assistance. Further information about the procedures involved 

63

can be found in the HR Procedures Manual (Professional Qualifications), available on 

the bank’s intranet. 

5.3 Employee Representation 

5.3.1 Offshore Managers’ Forum 

Consideration of issues relating to management grade employees up to and including 

bands GCB4 is achieved through the Offshore Managers’ Forum. The Forum is 

composed of elected representatives drawn from Jersey, Guernsey and the Isle of Man, 

a representative elected by managerial members of Unite and a full time Unite official 

responsible for HSBC issues. Further details can be obtained from your line manager or 

the HR Procedures Manual, which is available on the bank’s intranet. 

5.3.2 Unite 

Unite is the only recognised union for clerical grade employees within the bank. To 

further good industrial relations within the bank, Unite are provided with certain 

services and facilities. In most parts of the bank the services of a Jointly Accredited 

Office Representative (JAOR) are available and, in addition, there are a number of fulltime 

'Seconded Representatives'. Should you wish to join Unite you should contact one 

of these or respond to Unite’s communications, frequently circulated within the bank. 

Further information can be obtained from: 

Unite Seconded Representatives Office 

Moreland Street 

London 

EC1V 8HA 

0207 253 9642 (External) 

5.4 Maternity and other family related polices and procedures 

Women who take maternity leave and employees who take adoption leave are 

encouraged to return to work with the bank, and during your leave the bank will keep in 

regular touch with you. A detailed ' Maternity Guide' is available to explain your 

entitlement and obligations and the facilities to which you may be eligible. 

Full details on maternity and other family related policies and procedures can be found 

in the HR Procedures Manual on the bank’s intranet. 

In order to help you return and continue your career, the bank has a number of 

initiatives that may assist you. These include: 

• a Priority Returners’ Scheme, which gives preference for re-entry to the bank to 

those who apply prior to leaving and who are eligible for the scheme, if exercised 

within five years (see HR Procedures Manual (Priority Returners’ Scheme) which is 

available on the bank’s intranet); 

• family leave provisions which recognise the needs of carers of a sick child or an 

elderly, disabled, or chronically sick relative or other close dependant and provide 

for up to five days' paid Family Leave, in an emergency, in any one year; 

• a flexible working policy, which aims to increase flexible working and which 

exceeds statutory requirements. See HR Procedures Manual (Flexible Working) 

which is available on the bank’s intranet; 

64

• for HIUL employees childcare facilities to aid return to work (see section 4.2.4). 

The bank’s Family Leave provisions are available to all employees with parental 

responsibility for children. 

Further details on these and other family related policies and the procedures you should 

follow are set out in the HR Procedures Manual (Leave, Flexible Working,). 

5.5 Special Leave 

You may, at the bank's discretion, be granted special paid leave for reasons such as 

public duties, Duke of Edinburgh's Award Scheme Adventure Training, bank sports 

activities, certain H.M. Forces or Auxiliary Forces activities, or on compassionate 

grounds. Such leave will not normally exceed ten days in any one calendar year. 

Special unpaid leave may also be granted in exceptional circumstances, at the bank's 

discretion. Applications for such leave should be addressed, in the first instance, to your 

immediate line manager. Further details are set out in the HR Procedures Manual 

(Leave) which is available on the bank’s intranet. 

5.6 Support for Disabled Employees 

The bank values the individual contribution of all employees, irrespective of any 

disability. The recruitment, training, career development and promotion of all 

employees is based on the aptitudes and skills of the individuals. Consideration of 

disability issues is also integrated into the business and there are a number of initiatives 

in place to support the bank’s commitment to addressing and resolving disability issues. 

5.6.1 Reasonable Adjustments 

Most disabled people do not need special equipment or adaptations, but sometimes 

provision of these can help an employee to operate more effectively at work. The bank 

is committed to finding the right solutions to meet the diverse needs of all employees 

and will make reasonable adjustments to ensure that everyone can compete on a level 

playing field. 

The bank will cover the costs of reasonable adjustments required, although practical 

advice/financial support, e.g. from "Access to Work", run by the Employment Service 

or any Offshore equivalent service, may be sought on an as needed basis. These 

provide a range of services, such as equipment and communicators, as well as operating 

a fares to work scheme. 

5.6.2 Rehabilitation Policy 

When an employee becomes disabled, or an existing disability worsens, every effort is 

made to retain the individual in employment. The Rehabilitation Policy is designed to 

assist managers and employees, through employment assessment and consultation. 

Further information on the support available and the process to follow is set out in the 

HR Procedures Manual (Disabled Employees), which is available on the bank’s 

intranet. 

65

6. SECURITY OF EMPLOYMENT 

The bank seeks to provide security of employment for its employees by carefully 

planning the adoption or development of revised business practices and procedures. It 

aims to avoid redundancies through seeking alternative employment for surplus 

employees but recognises that circumstances may arise where employment cannot be 

maintained in this way. The manner in which job reductions and, if necessary, 

redundancies are handled is set out in the 'Security of Employment Policy’ (SEP). This 

is contained in the HR Procedures Manual, together with a document entitled 

‘Redundancy and Redeployment – Your Questions Answered’ which contains a series 

of ‘Frequently Asked Questions’ in redundancy situations. Any such payment made 

under these arrangements includes and extinguishes any statutory redundancy 

entitlement. 

For senior management employees, where their employment terminates on the grounds 

of redundancy as defined in the appropriate local legislation, namely section 139 (1) of 

the Employment Rights Act 1996 (UK), Article 2(1) of the Employment (Jersey) Law 

2005, section 34(3) of the Employment Protection (Guernsey) Law 1998 or section 1(1) 

of the Redundancy Payments Act 1990 (as amended by the Employment Act 2006) 

(Isle of Man) the bank will apply Appendices 1-4 of the SEP as appropriate. Any such 

payment made includes and extinguishes any statutory redundancy entitlement. 

An appeal against any decision regarding redundancy must be lodged with the 

Employee Relations Team, HR Connect, Mayfields Court, Maylands Avenue, Hemel 

Hempstead, Herts HP2 4SE within three weeks of receipt of the letter formally advising 

of the decision against which the appeal is being made. 

66

Dear Colleague Welcome to HSBC Bank - HSBC careers site

Create successful ePaper yourself

Delete template?

Save as template?