Securities Lending Trader, EMEA

HSBC Holdings plc; Royal Borough of Greenwich; On-site; GBP 90,000 - 150,000; Full time

Benefits offered by this job

Private healthcare (UK)

Pension scheme

Enhanced maternity/adoption pay

Job summary

HSBC Holdings plc in London is seeking a senior professional to manage and optimise our agency lending trading book across fixed income and cash. You will balance liquidity, risk and returns within client mandates and governance frameworks to deliver strong revenue outcomes.

You will work with market systems such as Global 1, GCS/GHSS and Bloomberg, maintaining a premier client experience while collaborating with custody and settlement teams to ensure end-to-end delivery.

Qualifications

• Experience in fixed income agency securities lending trading or related markets such as secured financing and repo, ideally with EMEA coverage
• Proven ability to identify and execute revenue opportunities and implement trading strategies across inventory, collateral and liquidity
• Strong pricing capability in securities lending, including pricing methodologies and drivers of demand and market dynamics
• Understanding of cash reinvestment and cash management in securities lending
• Ability to assess client profiles and investment strategies to optimise risk-versus-return
• Experience building and maintaining counterparty relationships across European market participants
• Solid risk management discipline, trading within limits and governance frameworks
• Collaboration with custody functions to support end-to-end delivery

Responsibilities

• Manage and optimise an agency lending trading book across fixed income and cash
• Deliver against business performance targets using benchmarking and performance tools
• Monitor performance versus plan and adjust strategies
• Identify opportunities to raise cash financing and optimise liquidity
• Manage collateral and liquidity, including RoRWA considerations
• Provide input into portfolio evaluations and market commentary
• Utilise securities lending and market systems (Global 1, GCS/GHSS, Bloomberg)
• Maintain premier client experience with timely responses and ownership of queries

Skills

Fixed income

Agency lending

Liquidity optimization

Risk management

Pricing methodologies

Client relationships

Excel

Bloomberg

Tools

Global 1

GCS/GHSS

Bloomberg Terminal

Job description

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.

The Opportunity

HSBC Agency Lending sits within HSBC Securities Services (SSv) as part of our Markets and Securities Services business, supporting leading asset managers, asset owners, banks and broker-dealers. This London-based role focuses on optimising client revenues through agency securities lending across fixed income and cash assets while operating strictly within agreed client mandates and HSBC’s risk and governance framework. You’ll manage day-to-day trading decisions that balance liquidity, term risk and risk-weighted returns in a regulated environment subject to FCA rules, bank guidelines and relevant licensing requirements. Success means delivering strong risk-adjusted outcomes, maintaining a premier-quality client experience and providing clear input into portfolio evaluations and market commentary.

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.

What you’ll be doing:

• Manage and optimise an agency lending trading book, allocating inventory predominantly across fixed income and cash to maximise risk-adjusted returns
• Deliver against business performance targets including counterparty and market revenue and balance targets using benchmarking and performance tools
• Monitor performance versus plan and recommend tactical changes in response to evolving market and business conditions
• Identify opportunities to raise cash financing, deploy cash and non-cash liquidity and manage term risk within agreed client mandates
• Manage collateral and liquidity considerations including short- and long-term cash liquidity requirements and contribution to target Return on Risk Weighted Assets (RoRWA) outcomes
• Provide input into portfolio evaluations and market commentary, reflecting client profiles and investment strategies
• Use securities lending and market systems effectively including trading applications, Global 1, custody platforms (GCS/GHSS) and Bloomberg alongside strong Excel capability
• Maintain a premier-quality client experience through timely responses and end-to-end ownership of stakeholder queries

What we’re looking for:

• Bring strong experience in fixed income agency securities lending trading or closely related markets activity such as secured financing and repo ideally with EMEA market coverage
• Demonstrate proven experience identifying and executing revenue opportunities and implementing trading strategies across inventory, collateral and liquidity optimisation
• Apply strong capability in securities lending pricing including pricing methodologies and the drivers of demand and market dynamics
• Show strong understanding of cash reinvestment and cash management in the context of securities lending
• Assess client profiles and investment strategies to optimise risk-versus-return performance within agreed mandates
• Build and maintain counterparty relationships across European market participants such as prime brokers, broker-dealers and repo and funding desks
• Operate with strong risk management and governance discipline including trading within limits and frameworks and escalating issues appropriately
• Partner effectively across wider custody functions including income, settlements and corporate actions to support end-to- end delivery

This role offers the opportunity to shape daily trading decisions that matter to clients and to the performance of the agency lending business. You’ll work across fixed income and cash, with close links to clients, counterparties and internal partners while operating within a strong governance framework. If you want to focus on disciplined optimisation, liquidity outcomes and sustainable revenue generation for clients, this role provides clear scope to make an impact from 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 - no matter their gender, ethnicity, disability, religion, sexual orientation, or age. We are committed to removing barriers and ensuring careers at HSBC are inclusive and accessible for everyone to be at their best. We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long term conditions or neurodivergent candidates who meet the minimum criteria for the role.

If you have a need that requires accommodations or changes during the recruitment process, please get in touch with our Recruitment Helpdesk: