Head of Delta One & Equity Finance

TF International Securities Group Limited; Hong Kong; On-site; HKD 1,200,000 - 2,600,000; Full time

Job summary

TF International Securities Group Limited in Hong Kong seeks a Head of Delta One & Equity Finance to lead strategy, product delivery and client solutions.

The role focuses on developing TRS, financing, stock lending, ETFs and related hedging, while building a high-performing desk and managing risk and P&L.

Qualifications

• Bachelor’s degree or above in finance, economics, mathematics, engineering or a related discipline.
• At least eight years of relevant experience in Delta One, Equity Finance, Prime Services, securities financing or stock borrowing and lending.
• Strong knowledge of TRS, institutional equity financing, margin and collateral management, SBL, ETFs, equity baskets and listed derivatives.
• Demonstrated track record in institutional client origination, transaction execution and revenue generation.
• Strong understanding of pricing, hedging, funding, collateral, balance-sheet management, risk and P&L.
• Proven experience in building and leading a relevant trading or financing team.
• Experience in product approval, transaction documentation and front-to-back business implementation.
• Good understanding of Hong Kong and major Asian equity-market trading, clearing, financing, securities-lending and regulatory frameworks.
• Strong commercial judgement, risk discipline and cross-functional management skills.
• Holder of, or eligible to obtain, the relevant SFC licences. Relevant Responsible Officer status would be an advantage.
• Fluency in English and Chinese.

Responsibilities

• Develop and execute the strategy, product roadmap and financial targets for the Delta One and Equity Finance business.
• Leverage the firm’s existing institutional brokerage relationships to identify clients’ investment, financing, hedging and liquidity requirements.
• Originate and execute equity and index TRS, institutional margin and equity-backed financing, ETFs, equity baskets and other approved Delta One solutions.
• Develop the stock borrowing and lending business, including borrow sourcing, inventory management, pricing, recalls, collateral and corporate actions.
• Oversee transaction pricing, execution, hedging and lifecycle management.
• Manage funding, financing spreads, stock-borrow costs, collateral, haircuts, margin requirements, inventory and balance-sheet usage.
• Own the desk’s P&L and manage market, counterparty, concentration, liquidity, basis and operational risks.
• Work with Institutional Sales and Research to develop client solutions based on identified demand and published market views.
• Collaborate with Investment Banking and Capital Markets on eligible financing, hedging, liquidity and post-transaction opportunities, subject to appropriate compliance controls.
• Establish product approval, documentation, valuation, limit, collateral and escalation frameworks, including ISDA/CSA, GMSLA and relevant financing agreements.
• Coordinate with Risk, Compliance, Legal, Treasury, Finance, Operations and Technology to establish scalable front-to-back processes.
• Ensure appropriate management of client-order priority, best execution, client confidentiality and conflicts between agency and principal activities.
• Define the team structure, recruit and develop key personnel, and maintain effective supervision and control standards.

Skills

Delta One

Equity Finance

Prime Services

Team Leadership

P&L Management

Client Origination

Education

Bachelor’s degree in Finance/related

Job description

The firm has established an institutional brokerage franchise combining research, institutional sales and trading execution, supported by a high-quality institutional client base. The Head of Delta One & Equity Finance will build on this foundation to provide clients with a broader range of trading, financing and investment solutions.

The business mandate will cover equity and index total return swaps, institutional equity financing, stock borrowing and lending, ETFs, equity baskets and related hedging solutions. The role will be responsible for business development, product delivery, funding, risk management and desk profitability.

The role will also collaborate with Investment Banking and other origination teams to develop appropriate client opportunities within applicable information-barrier, conflict-management and internal approval requirements. The successful candidate will have the mandate to build and lead a core team, including proposing suitably qualified team members for the firm’s consideration.

Job Responsibilities

Develop and execute the strategy, product roadmap and financial targets for the Delta One and Equity Finance business.

Leverage the firm’s existing institutional brokerage relationships to identify clients’ investment, financing, hedging and liquidity requirements.

Originate and execute equity and index TRS, institutional margin and equity-backed financing, ETFs, equity baskets and other approved Delta One solutions.

Develop the stock borrowing and lending business, including borrow sourcing, inventory management, pricing, recalls, collateral and corporate actions.

Oversee transaction pricing, execution, hedging and lifecycle management.

Manage funding, financing spreads, stock-borrow costs, collateral, haircuts, margin requirements, inventory and balance-sheet usage.

Own the desk’s P&L and manage market, counterparty, concentration, liquidity, basis and operational risks.

Work with Institutional Sales and Research to develop client solutions based on identified demand and published market views.

Collaborate with Investment Banking and Capital Markets on eligible financing, hedging, liquidity and post-transaction opportunities, subject to appropriate compliance controls.

Establish product approval, documentation, valuation, limit, collateral and escalation frameworks, including ISDA/CSA, GMSLA and relevant financing agreements.

Coordinate with Risk, Compliance, Legal, Treasury, Finance, Operations and Technology to establish scalable front-to-back processes.

Ensure appropriate management of client-order priority, best execution, client confidentiality and conflicts between agency and principal activities.

Define the team structure, recruit and develop key personnel, and maintain effective supervision and control standards.

Job Requirements

Bachelor’s degree or above in finance, economics, mathematics, engineering or a related discipline.

At least eight years of relevant experience in Delta One, Equity Finance, Prime Services, securities financing or stock borrowing and lending.

Strong knowledge of TRS, institutional equity financing, margin and collateral management, SBL, ETFs, equity baskets and listed derivatives.

Demonstrated track record in institutional client origination, transaction execution and revenue generation.

Strong understanding of pricing, hedging, funding, collateral, balance-sheet management, risk and P&L.

Proven experience in building and leading a relevant trading or financing team. The ability to assemble an experienced core team would be a significant advantage.

Experience in product approval, transaction documentation and front-to-back business implementation.

Good understanding of Hong Kong and major Asian equity-market trading, clearing, financing, securities-lending and regulatory frameworks.

Strong commercial judgement, risk discipline and cross-functional management skills.

Holder of, or eligible to obtain, the relevant SFC licences. Relevant Responsible Officer status would be an advantage.

Fluency in English and Chinese.