I applied online. The process took 3 weeks. I interviewed at HSBC (Curitiba) in Feb 2011
Interview
They usually call you once for a first talk after they get your CV (they actually check their own candidates database, so keep it updated in their website so they can find you).
After that, they will schedule a next talk with the project responsible from the UK or the USA and a lot of technical questions will arrive, so you better not lie on your CV. :-)
In the end, someone from HR will call you for the last details and then you are hired.