Associate, FX Prime Product

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.

 Global Intermediary Services (GIS) sits within the Markets Global FX Business within HSBC. GIS is a product team that provides a fee-based suite of FX Services around the entire trade lifecycle for FX execution strategies and investments, ranging from pre-trade and risk management services to execution and post-trade services. It provides guidance, bespoke services, and access to HSBC’s far-reaching network to help clients achieve their FX objectives. GIS provides a range of services, including FX Custody, FX Overlay, FX Prime Brokerage, and FX Alternative Execution Services (AES).

The Associate, FX Prime Product will have a focus on the FX Prime Brokerage business, which provides clients with access to market liquidity using HSBC’s credit lines and helps them streamline their FX operations. The role holder will focus on FX Prime risk management and will partner with our clients from the pitching stage through to the live relationship with open and active dialogue helping clients manage their risk and margin requirements ahead of events.

As our Associate, FX Prime Product you will:

• Identify opportunities across GIS’s entire product suite in Americas in conjunction with key strategic partners and the Relationship Management / Sales organization
• Design FX related solutions including responsibility for the required regulatory sign-off, internal new product approval and approval from control functions across the region
• Assist with the onboarding and drive implementation including IT integration of mandated solutions to ensure successful conclusion and delivery of the required result
• Take responsibility for certain countries across the region for all GIS product discussions to ensure efficient use of capital and resources
• Make suggestions to improve current processes and procedures across the GIS business and highlight areas where GIS product lines can collaborate further to grow HSBC’s franchise share with key clients and make wider use of existing infrastructure
• Drive the joint strategic initiatives and outcomes of the various partnerships within HSBC to increase our FX related market share across the globe within the control framework of HSBC
• Be at the forefront of digital developments relating to FX
• Coordinate client contract negotiation with legal and compliance partners, ensuring appropriate documentation
  
• Work closely with Markets Operations, ensuring necessary client support and streamlining processes
• Remediate and escalate issues and concerns appropriately
• Manage of external resources and vendors where appropriate
• Effective risk management and regulatory compliance
• Ensure appropriate conduct and adherence to HSBC Conduct principles at all times
• Be accountable of observation of Internal Controls:
  • 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
  • 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 (Anti Bribery and Corruption) Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBCs Financial Crime Risk Appetite

For this role, HSBC targets a pay range between $125,000 and $150,000.

The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.

You´ll likely have the following qualifications to succeed in this role:

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  Bachelor’s or Master’s degree in Finance, Economics, Engineering, or a quantitative field
• Deep understanding of FX markets including derivatives with strong familiarity of risk sensitivities (e.g. delta, vega, gamma); knowledge of other markets including commodity, rates and equity markets is also a plus
• Relevant market risk or counterparty credit risk experience
• Knowledge and experience with stress-testing, scenario analysis and back-testing of margin models (modelling skills are a plus)
• Strong technical skills with a good attention to detail including a good understanding of the Hedge Fund and Asset Management industry
• Must have experience within MS Office and front office IT software applications
• Proficiency with risk engines and other data tools (e.g. SQL, Excel (VBA), Python with libraries)
• Excellent analytical and problem-solving skills; ability to translate complex data into actionable insights
• Ability to work well cross-functionally including across 1st and 2nd Lines of Defense including functional partners
• General knowledge and understanding of middle and back-office processes related to FX including rules and regulation in relation to restricted markets
• Excellent communication skills to be able to collaborate with internal stakeholders across HSBC and influence their decisions within a strict control framework, as well as the ability to communicate quantitative concepts to non-technical stakeholders
• Ability to be able to understand the link between several complex systems and an inquisition develop strategic solutions that cover IT infrastructure and all the support functions across products to secure the long-term future of the HSBC franchise 

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the U.S. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

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, diverse 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!

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.