VP, Prime & DCS Portfolio Management : 0000DILA
Role Purpose (overall high level summary of the role)
Provide “first line of defence” risk management for the Prime Finance, FX Prime Services and Derivatives Clearing Services (DCS) businesses. The role holder will fulfil these responsibilities through thorough and proactive analysis and communication of risks within client portfolios; proposal of appropriate margin levels; controlling the amount of leverage/financing provided and setting appropriate client-facing limits; and contributing to the development of sound methodologies for margining and measuring the risk in client portfolios. The role holder will have responsibility for ensuring that the business’s risk stays within the Prime / FX Prime market risk mandates and applicable credit limits.
The role holder will also contribute to the development of margining and in-business risk management models across all existing products and for new products and initiatives undertaken by these businesses globally.
Principal Accountabilities: Key activities and decision making areas Typical Targets and Measures
Impact on the Business
• Manage the exposure of the bank to its clients through setting appropriate margining and risk limits for clients.
• Help the business to identify and understand key risks in its client portfolio through proactive risk analysis.
• Make recommendations for risk mitigation where risk exceeds appetite.
• Help the business develop products/solutions that are both sound from a risk management perspective and attractive to clients. • Minimisation, where possible, of credit losses arising from hedge fund defaults.
• Appropriate balance between risk and revenues.
Customers / Stakeholders
• Develop risk/margining terms that balance the needs of the client with those of HSBC.
• Keep management aware of key risks within the hedge fund portfolio and help to define an understanding of the appetite for these risks.
• Engage with colleagues and Traded Risk / WMR / Hedge Fund DD team to ensure that solutions put in place are within the risk appetite of the bank.
• Good (or no negative) feedback from clients.
• Good feedback from stakeholders in Markets, Banking and independent risk function.
Leadership & Teamwork
• Mentor and support the development of junior members / direct reports in the team.
• Contribute to success of the business and the Portfolio Management team at both the regional and global level by supporting colleagues and managing global issues on a follow-the-sun basis.
• Work closely with colleagues in Markets, independent risk and Banking.
• Team feedback.
• Stakeholder feedback.
• Achievement in delivery of initiatives.
Operational Effectiveness & Control
• Reduce manual processes used for margining and risk management to control operational risk.
• Implementation and operation of robust risk control framework.
• Ensure that business stays within market risk mandate. • Minimal number of manual processes.
• No surprise issues undetected by control framework.
• Mandate exceptions managed proactively.
Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities)
• 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.
Role Context (The environment and operating conditions of the role including the extent of guidance and authority)
• The role holder will be responsible for business risk management in respect of hedge fund clients within Global Markets.
• The role holder will be expected to make independent decisions with respect to risk management / margining and escalate to senior management within guidelines or when appropriate.
• Need to operate within trading mandates and permitted instruments lists given to these businesses by Traded Risk and limits set by Credit against the business’s clients.
• The role holder is expected to proactively manage exceptions to policy, working with the management of the business, heads of trading and the independent risk function.
• The role holder will work with these same stakeholders on change initiatives and must help ensure that impacts of these initiatives are well understood and mitigated appropriately.
Management of Risk (Operational Risk / FIM requirements)
• Risk management is at the heart of the role – the desired outcome is that HSBC’s losses arising from hedge fund defaults are avoided or minimized, and in all circumstances HSBC is aware of from where these losses are most likely to originate.
• The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation. The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology. This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring. Also by addressing any areas of concern in conjunction with entity management and/or the appropriate department.
Observation of Internal Controls (Compliance Policy / FIM requirements)
• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
• As a Markets employee the role holder must comply with all conduct and Global Standards policies applicable to front office staff and escalate appropriately to management and compliance.
Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. in USD’000)
• The role holder will be part of a team responsible for the risk management (first line of defence) of Prime Finance, FX Prime and DCS exposures globally.
Headcount reporting to this role Direct: 0 Indirect: 0 Total: 0
Knowledge & Experience / Qualifications (For the role – not the role holder. Minimum requirements of the role.)
A Markets background and an understanding of how to measure and manage the market risk of derivatives contracts, across all asset classes with particular focus on equities and foreign exchange.
The role holder must have both practical risk management skills and quantitative skills as the role will involve both day-to-day risk management and model development. A good understanding of counterparty risk and hedge funds in particular would be an asset. Finally, a background involving work with risk (credit and/or market risk) management systems would present a strong advantage.
The candidate must have strong communication skills and be able to manage relationships effectively with a range of different stakeholders. The candidate needs to be able to manage time and balance multiple priorities effectively.
: Asia Pacific-India-Karnataka-Bangalore
: Full-time Shift
Type of Vacancy : Country vacancy
: 21-Oct-2019, 12:43:56 Unposting Date
: 20-Nov-2019, 18:29:00
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