At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.
Manage the firm's loan book credit risk under supervision in line with risk appetite for risk mitigation purposes in compliance with all applicable regulations
Provide timely and accurate execution of structured and vanilla CDS trades and other risk distribution transactions
The position will contribute to the development of the wholesale lending risk hedging and distribution activities led by the Wholesale Portfolio Management team. The position will enable execution of risk mitigation efforts in line with the Originate-to-Distribute Group Strategic goal, hence creating capacity for the lending Business. New distribution strategies, techniques and associated products will need to be developped and monitored as the distribution platform expands. Other responsibilities include timely oversight, reporting and escalation of any risk and potential breaches.
The candidate should have substantial experience in a front office trading, syndication or structuring role (5 to 10y), preferrably in the areas of credit portfolio management. Deep financial market knowledge required to analyse and propose complex transactions and bespoke solutions is a requirement.
Assessing the risk aspects of several different hedge instruments, such as single-name CDS, CLOs or CDS Indices (outright indices and swaptions)
Structure, price and book complex risk mitigating transactions and monitor them from a risk, regulatory and P&L perspectives
Effectively maintain an overview of the book of risk and hedge positions, and operate within a defined Annual Operating Plan, Market Risk limits and notification levels, and Regulatory Compliance framework.
Manage the output of data and information from WPM Analytics/Strategy
Interface with external market counterparties and maintain communication with internal MSS teams, and appropriate internal functions
Build and maintain relationships with external counterparties and industry bodies within the framework of existing regulation and keep up to date with market developments
Coordinate and manage the secondary loan sales/purchases process as required
Liaising with market participants, syndicated desks and relationship bankers on secondary loan asset distribution
Execute trades in accordance with the desk Volcker designation and act consistently with the desk Volcker Strategy (where applicable)
Execute trades in accordance with the specific requirements laid out in the WPM Global Execution DIM (and US WPM DIM)
Ensure correct ticket entry and assists in resolving any settlement problems, ensure ticket entry completion and provide general trading activity support, as necessary
Reconcile daily and/or monthly reports, as assigned
Monitor MTM on a daily basis and review daily market risk and P&L reports. Responsible for daily P&L sign-off(s) for the trading book(s) managed
Adhere to local regulatory policies applicable to the job holder location and obtain compliance clearance (eTCR) before executing as required
Support the existing CLO management process or any new CLO transaction as required
Drive the specification of IT and infrastructure development when required, via New Product Due Diligence processes
Ability to present new initiatives to Senior Management (forums such as ALCO or RMM).
Develop close and effective working relationships within respective Regions/Countries/Functions/Global Businesses
Development of internal marketing and educational materials regarding risk distribution and WPM's capabilities
Input expertise to meet stakeholder priorities
Directing major projects or programmes with significant business impact within department, area, and business unit
Leadership and Teamwork
Develop and communicate a clear vision that is aligned to the overall HSBC vision, Values and goals, and inspires and engages people to create an inclusive, high performing, customer-centered culture.
Lead and encourage constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and taking prompt action to address any activities and behaviours that are not consistent with HSBC's diversity policy and/or the best interests of the business and its customers.
HSBC was born from one small idea: a local bank serving international needs. We started our business in Hong Kong in 1865. In 2015, HSBC celebrates its 150th year anniversary. Over the years, HSBC grew through expanding its branch network, offering new products and establishing its own investment banking arm.
We aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people fulfill their hopes and realize their ambitions.
• Located in 72 countries and territories
• Serving around 48 million customers
• Supported by over 268,000* people
• Head office in US is New York City
We aim to be dependable, open and connected in everything we do. We want to ensure that our employees feel able to stand up for what is right, highlight potential risks and act with integrity, even when faced with pressure to act otherwise. By doing so, we will be able to meet expectations of society, customers, regulators and investors. To make sure everybody at HSBC lives up to these values, they are a part of everyone's annual performance review.
At HSBC, you will find that we are dependable, o...pen to different ideas and cultures, and connected to customers, communities, regulators and each other. Our culture has a family feel to it – our employees are encouraged to work together to reach a common goal. This idea is supported and encouraged at the leadership level and passed down.
Our size and global reach mean more opportunities for you to grow your career with us.
We are looking for forward-thinking, driven, perceptive candidates to help our customers realise their hopes, dreams and ambitions.
This means people who are dependable, open to different ideas and cultures, and enjoy being part of a team; people who have the potential to become the future leaders of HSBC.
We encourage you to drive your own development and build your network within your office and around the world.
We provide the opportunities for you to connect with customers, colleagues and the communities in which we operate.