Associate Director - Exchange and Clearing Broker Manager

HSBC; Greater London; On-site; GBP 80,000 - 100,000; Full time

Job summary

A leading global banking organization based in London is seeking an Associate Director - Exchange and Clearing Broker Manager. This role involves overseeing risk management for Clearing Brokers and developing a governance framework. Candidates should have strong analytical and communication skills, an understanding of global markets, and a passion for cultivating diverse workplaces. Competitive pay and benefits are offered.

Benefits

Private healthcare

Enhanced maternity and adoption pay

Contributory pension scheme

Qualifications

• Strong understanding of regulatory requirements within global markets.
• In-depth understanding of global markets products such as equities and FX.
• Knowledge of Central Counterparties and cleared financial markets.
• Ability to translate complex information into simple terms.

Responsibilities

• Conduct regular due diligence reviews of Clearing Brokers.
• Create an approved benchmarking process for due diligence.
• Enhance Clearing Broker and exchange governance.
• Create dashboards to support tracking of MI metrics.

Skills

Risk management principles

Governance and oversight skills

Strong interpersonal skills

Analytical skills

Excellent communication skills

Job description

Associate Director - Exchange and Clearing Broker Manager

Overview

Some careers shine brighter than others. If you’re looking for a career that will help you stand out, join HSBC and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

About the Team

The Trading Facilities CCP Management (TFCM) team has been created to recognize 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 Counterparties (CCPs).

The team provides a holistic view of the risks towards these critical intermediaries, whilst optimising the business operating model.

Role Purpose

The primary purpose of this role is to act as the global lead for Clearing Broker risk oversight and governance. The main focus is assisting the Head of TFCM in managing Clearing Brokers, developing a global framework for exchanges and enhancing the continuous monitoring process.

Why HSBC?

As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.

In this role you will:

• Conduct regular due diligence reviews of all Clearing Brokers that are used to access CCPs, including documentation review and peer comparisons and follow up with Clearing Brokers regarding the findings and conclusions of due diligence reviews; document actions taken and follow up requirements.
• Create an approved benchmarking process, ensuring due diligence reviews are consistent and provide key inputs to individual credit assessments for Clearing Brokers, including credit limit proposals, based on due diligence results and risk appetite.
• Enhance Clearing Broker governance, feeding into the Global Clearing Steering Committee and build a centralised exchange oversight model including commercial strategy.
• Enhance exchange governance, feeding into the Global Trading Facilities Forum whilst developing an operating model and workflow from initial assessment to informing business of the required changes.
• Create dashboards to help support tracking of MI through metrics such as KPI/KRIs and be the interface with Business Heads and COOs across all asset classes globally to understand trade execution arrangements.

To be successful in this role you should meet the following requirements:

• Strong understanding of risk management principles, regulatory requirements and industry standards within global markets with excellent governance and oversight skills and experience developing and implementing policies and procedures.
• In-depth understanding of global markets products such as equities/derivatives, and/or FX in addition to a background in 1st/2nd line risk management is paramount.
• Knowledge of Central Counterparties and the centrally cleared financial market in addition to an understanding of exchange operations and knowledge of trade execution and market microstructure is highly advantageous.
• Strong interpersonal skills and the ability to work well within a small team, with excellent communication skills, both verbal and written, are essential, as is the ability to confidently deal with senior individuals and translate complex information into simple terms.
• Sound analytical skills are essential, coupled with the ability to demonstrate forward thinking and the confidence to use strong judgmental skills to identify and resolve problems whilst maintaining budgets, time scales and quality of output.

This role is based in London.

Opening up a world of opportunity

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.

We take pride in being part of the Disability Confident Scheme. This helps make sure you can be interviewed fairly if you have a disability, long term health condition, or are neurodiverse.

If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk.

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