Royal Bank of Canada isn't the only financial institution where employees are busy training their foreign replacements.

Sources close to HSBC Bank Canada told The Huffington Post Canada that the country's seventh-largest bank is preparing to send as many as 23 finance jobs to India as part of an "operational efficiency" program.

Internal documents obtained by The Huffington Post Canada confirm that at least two employees from the bank's Global Resource Centre (GRC) in Gurgaon, India are currently in Vancouver learning their jobs from the people they're replacing, one of them a 20-year veteran, but a source said as many as 23 jobs could be transitioned abroad.

The jobs in question largely involve entering data when clients transfer money between different HSBC branches in Vancouver. Those responsibilities used to be handled in the city but will now be transitioned to the GRC in India.

The source, who asked not to be identified because they still work for the bank, added that employees have to train their replacements in their own jobs in order to get their severance from the company.

In a written statement, HSBC spokeswoman Sharon Wilks would not confirm whether employees had to train their replacements as a condition of getting their severance, but she did say that the bank has employees in their offices who are being trained as part of what she called a "global initiative."

"As a global company with around 6,600 offices in 81 countries and territories, we are globally managed and work together across borders to make our operations as efficient as possible," she said in an e-mail.

"That includes taking advantage of expertise available in other parts of the HSBC Group."

Wilks did not confirm how many jobs would be sent abroad, but she said that two years ago, HSBC's global CEO announced a strategy to "make our operations globally more efficient and fit for purpose."

She said that all HSBC businesses around the world, including Canada, would be "part of delivering on this strategy."

The situation bears some similarity to that which engulfed Royal Bank of Canada when dozens of IT workers learned that their jobs would be terminated at the end of April, to be replaced by employees with Indian company iGATE Corp., which was contracted to provide IT services, CBC News first reported.

The key difference here is that the jobs are being taken by existing HSBC employees, and they're not coming to Canada as part of the Temporary Foreign Worker Program.

Some iGATE employees came to Canada under the federal Temporary Foreign Workers Program to learn the RBC jobs before taking them back home.

RBC later apologized for the controversy and announced new restrictions on its use of foreign workers.

HSBC Bank Canada, which is headquartered in Vancouver, describes itself as the leading international bank in Canada with $81 billion in assets. As of 2011, the bank had 5,646 permanent employees in Canada.

Are you concerned about your company outsourcing Canadian jobs? Contact our business editor, Daniel Tencer, at daniel.tencer@huffingtonpost.com

Also on HuffPost:

Loading Slideshow...
  • JPMorgan Chase Loses $2 Billion

    On May 10th, the U.S.'s largest bank JPMorgan Chase announced one of its London trading desks had lost <a href="http://www.huffingtonpost.com/2012/05/10/jpmorgan-chase-london-whale_n_1507662.html?ref=business" target="_hplink">$2 billion on bad bets on credit derivatives</a>.

  • UBS Trader Loses $2 Billion

    Kweku Adoboli, a trader for Swiss bank UBS, lost <a href="http://www.huffingtonpost.com/2011/09/15/ubs-traders_n_963715.html" target="_hplink">$2 billion on unauthorized trades in September 2011</a>.

  • MF Global Collapse

    Brokerage firm <a href="http://www.huffingtonpost.com/2011/10/31/mf-global-to-file-for-bankruptcy_n_1066902.html" target="_hplink">MF Global filed for Chapter 11 bankruptcy</a> in October 2011 after a failed $6 billion bet on European debt.

  • Rogue Societe General Trader Loses $6 Billion

    Hailed as "history's biggest rogue trading scandal" at the time, French trader Jerome Kerviel was convicted in October 2010 of <a href="http://www.huffingtonpost.com/2010/10/05/jerome-kerviel-rogue-fren_n_750464.html" target="_hplink">losing French bank Societe General around $6 billion</a> due to unauthorized trades.

  • Bear Sterns Bought By JPMorgan Chase

    After a run on investment bank Bear Sterns nearly caused its collapse in 2007, JPMorgan bought the firm for $2 a share the following March, <a href="http://www.businessweek.com/bwdaily/dnflash/content/mar2008/db20080316_356646.htm" target="_hplink">Businessweek</a> reports.

  • AIG Largest Single Bailout

    Insurance company AIG became the recipient of the <a href="http://www.huffingtonpost.com/2012/05/08/aig-bailout-realize-15-billion-profit-taxpaers-gao_n_1498645.html" target="_hplink">largest ever government bailout for a single corporation</a> when a $182 billion rescue package saved it from a liquidity crisis following a <a href="http://www.huffingtonpost.com/2012/05/08/aig-bailout-realize-15-billion-profit-taxpaers-gao_n_1498645.html" target="_hplink">downgrade of its credit rating</a> in 2008.

  • Washington Mutual Bankruptcy

    One of the biggest players in retail banking and mortgages during the housing crisis, Washington Mutual filed for Chapter 11 in September 2008, after sustaining losses on billions of dollars worth of mortgage and home loans, <a href="http://www.cnbc.com/id/46793926/WaMu_Emerges_From_Bankruptcy_Protection" target="_hplink">CNBC</a> reports.

  • Citigroup Bailout

    Citigroup came to the brink of collapse after it reported losses around $10 billion in 2007, in part due to failed mortgage investments, <a href="http://money.cnn.com/2008/01/15/news/companies/citigroup_earnings/index.htm" target="_hplink">CNNMoney</a> reported. To keep the bank afloat the government issued <a href="http://www.huffingtonpost.com/2008/11/23/feds-consider-plan-to-res_n_145856.html" target="_hplink">a $20 billion bailout in November of that year</a>.

  • Merill Lynch Shocks Investors With Big Loss

    After projecting a $4.5 billion loss during the third quarter of 2007, Merrill Lynch shocked investors by reporting a $7.9 billion deficit from trading mortgage-backed securities and other structured products, <a href="http://money.cnn.com/magazines/fortune/fortune_archive/2007/11/26/101232838/" target="_hplink">according to CNNMoney</a>.

  • Barings Bank Collapse

    One time star trader Nick Leeson was responsible for sinking British bank Barings after losing $1 billion when an an earthquake struck Kobe, Japan in 1995, causing his investments in the Nikkei to fail as the Japanese stock exchange crashed, <a href="http://www.time.com/time/specials/packages/article/0,28804,1937349_1937350_1937488,00.html" target="_hplink">TIME reported</a>.