Associate Director

Job Purpose The Trading Facilities and CCP Management (TFCM) team has been created to recognise the interconnected nature of the execution and clearing landscape across all asset classes. The purpose of this centralised team is to provide consistent global oversight and governance across all intermediaries related to trade execution and clearing, encompassing: Trading Facilities (Brokers, Trade Venues, Exchanges), Clearing Brokers and Central Counterparites (CCPs). The team provides a holistic view of the risks towards these critical intermediaries, whilst optimising the business operating model. The team’s responsibilities which cover all Trading Facilities, Clearing Brokers and CCPs globally, include: Maintaining the global approved lists Ongoing due diligence reviews and monitoring Governance of any new relationships Oversight of all credit limits towards CCPs and Clearing Brokers (and Trading Facilities where relevant) Active participation in global industry and regulatory forums Working with other departments towards further developing HSBC’s CCP and Clearing Broker risk framework The team is also responsible for running the governance committees overseeing these intermediaries. The main focus for this role is assisting the Head of TFCM in: Expand commercial governance across ASP Support enhancements of framework for Trade Venues Act as the lead and business interface in ASP for CCPs / Clearing risk Job Description Expand commercial governance and risk oversight across ASP TF Management Interface with Business Heads and COOs in ASP across all asset classes to understand trade execution arrangements Central point of contact in ASP to manage overall costs relating to third parties involved in the trade execution process Responsible for scheduling and managing rate negotiations with relevant Trading Facilities Responsible for the management of Rate Cards Oversight and governance of the onboarding process for new Trading Facilities Oversight of all Third Party Risk Management processes for Trading Facilities Management of the Trading Facilities Forum for the management of any risks related to Trading Facilities in ASP Responsibility for the management of the rulebook review process for those Trading Facilities that have rulebooks and the associated ongoing understanding of changes and obligations relating to those rulebooks Liaison with the Operations team regarding any queries on invoice payments Maintenance of the Trading Facilities Repository (the list of all approved TFs for HSBC globally) Liaison with the Operations and IT teams regarding any enhancements to the architecture of the front-to-back management of TFs Create efficiencies and drive automation of the front-to-back brokerage service CCP Due Diligence: Chair the Regional Clearing Steering Committee and participate in the Global Clearing Committees. Assessment of ASP proposals from the business to access new CCPs or clear additional products Support due diligence reviews of all ASP CCPs that HSBC accesses, directly or indirectly, on a regular basis, including face-to-face meetings with the CCP, documentation review and peer comparisons. Follow up with CCPs in ASP regarding the findings and conclusions of due diligence reviews; document actions taken and follow up requirements. Provide key inputs to individual credit assessments for CCPs, including credit limit proposals, based on due diligence results and risk appetite. Support thematic reviews of risks identified across the CCP portfolio. Present to relevant internal risk forums. Review credit limits and breaches for CCPs, provide analysis on the need for credit limits based on IM and Default Fund by liaising with the relevant parties within HSBC Responsible for maintaining the global inventory across CCP relationships including BAU and Default Management contacts Knowledge and Experience Knowledge of CCPs and the centrally cleared financial market Knowledge of trade execution and market microstructure. Knowledge of brokerage arrangements and rate negotiation. Strong interpersonal skills and the ability to work well within a small team. Excellent communication skills, both verbal and written, are essential, as is the ability to confidently deal with senior individuals. Sound analytical skills are essential, coupled with the ability to demonstrate forward thinking. Ability to use strong judgmental skills to identify and resolve problems whilst maintaining budgets, time scales and quality of output. Opening up a world of opportunity HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website. Issued by The Hongkong and Shanghai Banking Corporation Limited. #J-18808-Ljbffr