In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.
Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC, we use our unique expertise, capabilities, breadth, and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities, and the planet we all share.
As our Director, Prime Risk you will:
- Provide “first line of defence” risk management for the Prime Financing, Foreign Exchange (FX) Prime Services, Derivatives Clearing Services (DCS) and Repo businesses
- Manages the firm’s exposure to clients by setting appropriate margin levels, controlling the amount of financing provided, negotiating strong risk terms with clients including term financing arrangements, setting appropriate client-facing limits, and proactively monitoring the risk within the portfolio
- The role holder will have principal responsibility for ensuring that the business’s risk stays within the Prime Financing, FX Prime, DCS and Repo market risk mandates and applicable credit limits
- The role holder will be responsible for implementing and/or managing on an on-going basis a risk management framework across the supported assets/products
Impact on the Business/Function
- Manages the exposure of the bank to its clients through setting appropriate margining and risk limits for clients
- Helps the business to identify and understand key risks in its client portfolio through proactive risk analysis
- Engages with clients to promote the bank’s risk/margining capabilities in the financing, clearing and execution arenas
- Makes recommendations for risk mitigation where risk exceeds appetite
- Develops products/solutions that are both sound from a risk management perspective and attractive to clients
- Maintains a thorough knowledge of the product area including market liquidity and volatility, pricing and trading strategies
- Understands the regulatory impacts of client activities and seeks to mitigate those impacts and/or optimise return on balance sheet usage
Customers/Stakeholders
- External and Internal Clients: Networks, develops and nurtures client relationships, anticipates and identifies their needs
- Internal Collaboration: Develops close and effective working relationships within respective Regions/Countries/Functions/Global Businesses
- External bodies: Builds and maintains relationships with external partners, industry bodies and others to keep up to date with developments
- Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets
Leadership and Teamwork
- 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, develop and motivate the leadership team to attract, retain and develop the capacity, capability and talent to provide for succession and ensure delivery of business objectives
- Set expectations, share best practice and manage, monitor, coach and develop team leaders and others to ensure that they maximise their performance, meet the required standards, and continuously develop their capabilities and experience
- Lead and encourage constructive cross-country and cross-business teamwork by demonstrating collaboration and matrix management in action and challenging actions and behaviours that are not consistent with HSBC's diversity policy and/or the best interests of the business and its customers
Operational Effectiveness and Control
- Manage the processes, infrastructure and resources needed to deliver agreed team plans and targets, identifying and implementing improvements and collaborating with colleagues to maximise end to end integration, effectiveness and efficiency
- Maintain a robust and efficient control environment to ensure good operational, financial and project management and compliance with HSBC policy and procedures, together with early identification and effective resolution or escalation of issues that arise
- Lead the development, implementation and maintenance of management information, analysis and reporting framework that supports and informs timely and effective business management and decision making at all levels
- Lead the implementation and oversight of policy and governance frameworks, procedures, practices and standards to ensure quality, effective risk management and regulatory compliance
Management of Risk
- The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation
- This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators
- The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the 'Three Lines of Defence'. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required
Observation of Internal Controls
- The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures
- The jobholder will implement the Group compliance policy by adhering to all relevant processes/procedures. The term 'compliance' embraces all relevant financial services laws, rules and codes with which the business has to comply
- This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite
Local Job Requirements
- Find right balance between business risk appetite, firm risk appetite and client needs. This will require constant engagement/calibration with management and stakeholders and draw on the role holder’s risk knowledge as well as stakeholder management and influencing skills
- Decision-making in a complex and uncertain environment. The risks faced by the business manifest themselves under unlikely events. Furthermore, in many cases decisions will be made based on incomplete information. Risk decisions need to consider the severity of losses that could occur but balance these against the likelihood of them occurring
- The role is split across multiple asset classes with competing demands, requiring the role holder to manage priorities effectively with stakeholders and within the regional team
Certifications, Qualifications and Experience
- A Markets background and a detailed understanding of how to measure and manage the market risk of derivatives contracts, across all asset classes
- A strong understanding of counterparty risk and hedge funds in particular, with hands-on experience of managing client default situations a particular assets
- Strong communication skills and ability to manage relationships effectively with a range of different stakeholders
- Able to manage time and balance multiple priorities effectively
- Experience with managing the implementation of new risk management systems, risk methodologies, processes and governance
- Experience with managing people
Achieving Excellence
- Aspiring to do and deliver the best for HSBC, its customers, colleagues and stakeholders and persisting in this aim regardless of difficulties and challenges in line with HSBC Values
- Taking a positive and constructive approach towards problems using appropriate tools and techniques to deal with them swiftly and effectively
- Implementing business strategies and plans and prioritising activities to make sure the desired results are achieved
- Understanding what is required to be successful and competitive in the local and global marketplace
Drives Business Performance
- Focuses on driving results, even under pressure, through personal drive and perseverance and by encouraging collaboration, creating clarity and building stakeholder commitment
- Builds contingency into their business plans in order to cope with the unexpected as well as anticipated issues or events, so that success can still be achieved
- Develops the infrastructure and capabilities needed to enable operational effectiveness and the delivery of the desired results and ensures that decision making is delegated to the most appropriate people
- Continuously monitors the marketplace and the competition to identify opportunities to establish competitive advantage for HSBC
Customer – Stakeholder Focus
- Focusing on customers, colleagues and stakeholders and taking the time to understand them, communicate with them and meet their needs
- Understanding how their role impacts upon our customers, stakeholders, colleagues, always looking for ways to satisfy them and enhance their experience of HSBC by keeping up-to-date with, and anticipating, their changing needs
- Delivering the right products, services and solutions to the right customers, colleagues and stakeholders, in the right way and at the right time, in line with HSBC strategy, principles and Values
- Developing customer/stakeholder insight based on effective personal interactions, learning from experience, gathering and using information appropriately and safely
Leads a Customer/Stakeholder – Centered Culture
- Champions the development and delivery of initiatives to deliver outstanding customer service and improve customer/stakeholder advocacy
- Proactively leads research into external markets and competitors to identify and share ways to differentiate and deliver value to our customers/stakeholders in line with HSBC strategy
- Promotes the most appropriate and sustainable solution for our customers even when this may not be the most profitable short term solution for HSBC
- Deepens customer/stakeholder insight by gathering information from many sources and uses it to shape HSBC's approach to our customers/stakeholders
Driving Sustainable Growth
- Taking an ethical commercial approach to business opportunities and in your day-to-day work, in accordance with HSBC Values, regulatory principles and global standards, to ensure the long-term sustainability of the business and protection of the HSBC brand
- Considering the short, medium and longer term impact of decisions and actions
- Championing and supporting change in the interests of all stakeholders
- Recognising, respecting and valuing different perspectives and cultures in our business, our customers and our colleagues
Develops the Business Responsibly
- Engages across HSBC to drive, deliver and support sustainable growth in revenue and market share in line with HSBC's strategy
- Ensures that customer propositions or business improvement programmes demonstrate clear, measurable, worthwhile benefits over the short, medium and long-term and identifies the full range of implications on the future success of the business
- Leads and facilitates change, understanding and applying change methodologies to communicate about, prepare for and implement change successfully
- Emphasises the importance and value of taking a cross-business or international view when developing business opportunities or addressing business situations
Managing Risk Responsibly
- Being aware of risk and compliance, acknowledging their importance and following or developing appropriate processes and controls
- Understanding and taking responsibility for applying local and HSBC legal, regulatory and compliance frameworks in all aspects of HSBC's work
- Taking ownership of risk and compliance and having the courage to question practices and actions in the best interests of protecting HSBC and its customers according to the HSBC Values
- Balancing the need to manage risk effectively with the need to maximise business opportunities through correct use of appropriate tools and techniques
Governs Risk Responsibly
- Ensures risk policies and governance frameworks are appropriately implemented in their part of the business
- Communicates changes in policy and governance and reinforces risk processes in the way their team work
- Establishes and maintains an environment where risk is routinely anticipated, acknowledged, identified, quantified and acted upon in a timely and efficient way
- Promotes the use of risk management processes and ideas to enable their team to manage risk ethically across regions and business areas and enable their teams to do business safely in accordance with corporate sustainability policies
As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!
Your final fixed pay offer will depend on the candidate and several variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.
All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.