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Jeevan anand

Project Description
The Retirement Reporting System (RRS) provides the business function of reporting to the customer and the U.S. Government as required for personal Individual Retirement Accounts (IRA’s), and Small Business Pensions (SBRP’s).  This vendor-supplied software package has been integrated into HSBC’s architecture as a sub-system of the Time Deposits Accounting system (TDA). 
This project entails providing continued functionality within RRS after integration with new systems SWHCB 1.0, OHD 1.2 AO, APE, and GAD, and after discontinuing the use of existing systems TDA, CIF, ACF, and DAO.
Deposit Account Data Collection:  Reuse One HSBC Distribution (OHD) to collect and capture new deposit account opening data.
Retirement Account Data Collection:  IRA account opening data will be segregated from the OHD deposit product account opening screens.  A local OHD account opening screen will be developed specifically to collect and capture this additional IRA data. The collection of IRA data will be initiated by a trigger which will identify the product being opened as a retirement deposit account.
Deposit Account Opening:  The Application Processing engine (APe) will be used to board and fund the new account to Software House Core Banking (SWH CB).

BACKGROUND:
HSBC Bank USA, N.A. (HBUS) offers a variety of Retirement products.  The Retirement Reporting System (RRS) provides the business function of reporting to the customer and the U.S. Government as required for personal Individual Retirement Accounts (IRA), and small business pensions (SBRP).  This vendor supplied software package has been integrated into HSBC architecture as a sub-system of the Time Deposits Accounting system (TDA).   The TDA system performs all the accounting functions for the accounts while RRS performs account setup and reporting.  The TDA system feeds RRS daily with all transactions, balance information, rate information and accrual information for every account.   RRS is customer oriented not account oriented; the retirement-id is used to group various accounts under one customer.

Each RRS account setup is tailored to the specific needs of the customer. Because of this, all setup and maintenance is handled in a central location by the Retirement Products Center (RPC). The accounts are booked into one of 38 logical branches (not brick and mortar). 
Features of the RRS system:
- provides the IRS (Internal Revenue Service) the 1099’s (distributions) reporting
- provides the IRS (Internal Revenue Service) the  5498’s  (contributions) reporting
- reports on each transaction based on TDA trancode interpretation into the RRS product and type
- provides functionality to setup/trigger distributions
- annually calculates the minimum withdrawal amount that is IRS mandated at age 70.5
- produces 1099’s and 5498’s for each customer
- produces IRS mandatory withholding notices and 70.5 courtesy letters
- produces customer and employer statements
- produces Abandoned Property customer correspondence
- maintains beneficiary information
- maintains summary information on distributions for current and prior year
- maintains withholding instructions and payout details
- provides transaction history for up to 36 months (current year and two years prior)
- includes employer information for Small Business Pension Plans
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The following are the four major products supported by the RRS system:
1. IRA (Individual Retirement Account) – Traditional, SEP
2. Small Business Pensions (similar to 401(k)) - Money Purchase, Profit Sharing, Keough and SIMPLE
3. Roth IRA – Roth and Roth Conversion
4. Education IRA – Coverdell Education Savings Account

RRS currently maintains ten internal interfaces with:
1. Branch Control System (BCS) provides product rate information.
2. Automated Central File system (ACF) to create the account shadow record.
3. Customer Information File system (CIF) to create the customer shadow record.
4. Deposit Account Opening system (DAO) to capture sales tracking information.
5. Statement and Advice System (SAS) for StreamWeaver and Finalist access for RRS statements.
6. Interest Reporting System (IRS) for the printing of 1099 government forms.
7. Investment Management System (IMS) for fair market value updates.
8. Paperless Entry Processing system (PEP) for distributions and transfer to TDA and Demand Deposit Accounting (DDA).
9. Input Control System (ICS) for distribution and withholding memos.
10. TDA record changes processing from TDA to RRS and RRS to TDA.  TDA daily refresh of product information from TDA to RRS.  Monetaries from TDA to RRS (rate transactions, type, amount, balance and accrual)

RRS currently maintains three external interfaces:
1. RRS sends 1099 and 5498 data as well as corrections to the Internal Revenue System.
2. IMS/RIS receives a fair market value for each investment account from the investment broker (ADP) and provides the RRS system with the accounts Fair Market Value amount prior to year-end statements and annual recalculations.    
3. The software vendor CheckFree supplies software updates annually.

Jeevan anand

Project Description
As part of the One HSBC global initiative, SME Collections has been asked to migrate off existing legacy HBUS banking systems and switch to the HUB Core Banking system.  This document will outline, in detail, the requirements needed by SME Collections for the DDA to Core Banking conversion.   A review of current functionality is being conducted in an effort to provide the information needed to successfully support this migration. 
The ACP collection system will continue to be used by SME Collections to collect on all overdraft accounts.  Therefore, the HUB Core Banking system will need to interface directly with the ACP collection system. 

Jeevan ananad