Head of Structured Products

HSBC; New York (NY); On-site; USD 180,000 - 240,000; Full time

Job summary

HSBC in New York is seeking a Director to shape the structured products strategy within the US Investment Portfolio. You will assess opportunities, balance risk, liquidity and funding while delivering high‑quality risk analytics.

The role involves trading CLOs, MBS, CMBS, ABS, and collaborating with legal, risk, operations, and control functions to implement governance. You will provide decision support to senior management.

Qualifications

• Experience in Treasury and/or Global Markets in a trading role.
• Deep knowledge of US fixed income markets.
• Structured products expertise including CLOs, MBS, CMBS and ABS.
• Experience supporting trading and modelling, including fixed income analytics.
• Strong hedging knowledge and hedge accounting practices.
• Ability to produce high-quality risk insights and forecasts.

Responsibilities

• Assess Collateralized Loan Obligations (CLO), Mortgage‑Backed Securities (MBS), Commercial Mortgage‑Backed Securities (CMBS) and Asset‑Backed Securities (ABS) investments against funding costs, liquidity value, capital consumption and balance sheet alternatives.
• Identify investment opportunities, set trading strategies and execute trades across Investment Portfolio securities.
• Manage structured products within the bank’s liquid asset and investment portfolios in line with mandate and governance.
• Evaluate portfolio manager quality including investment style, trading behavior, historical performance and portfolio construction discipline.
• Maintain external market and regulatory relationships and communicate relevant trends that impact risk and positions.
• Develop and manage analytics to support forecasting and management of liquidity, market and credit risks.
• Quantify and monitor balance sheet sensitivities including prepayment modelling practices and key risk drivers to inform decisions.
• Embed limit compliance across market risk, RWAs and liquidity and elevate key issues to senior management as needed.
• Maintain model governance for models owned by Markets Treasury.
• Manage operational and conduct risk in day‑to‑day activity including timely escalation within operational risk policy.

Skills

Treasury/Global Markets

US fixed income

Structured products

CLOs

MBS

CMBS

ABS

Fixed income analytics

Hedging

GAAP IFRS

Risk forecasting

Data integrity

Stakeholder mgmt

Communication

Education

CFA charter or equivalent certification

Job description

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. HSBC may engage in immigration sponsorship for this position if needed.

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.

Ready to shape structured products strategy in our US investment portfolio?

Why HSBC

HSBC is one of the largest banking and financial services organizations in the world. Guided by our purpose of opening up a world of opportunity, our ambition is to become the world’s most trusted bank globally, putting customers at the heart of everything we do.

The Role

Markets Treasury manages the HSBC Bank USA N.A. Investment Portfolio and plays a central role in structural interest rate risk and balance sheet strategy. This Director role sits within a trading mandate and focuses on structured products within the Investment Portfolio, balancing risk, liquidity and funding priorities with agreed financial targets. You’ll assess opportunities and execute trades across investment securities while ensuring the portfolio remains within internal and external limits across market risk, liquidity and capital. The role partners closely with legal, risk, operations, product control and other stakeholders to implement balance sheet solutions through HSBC governance. Success means delivering high‑quality risk analytics and decision support, maintaining strong model governance and keeping senior management informed on key developments. You’ll also contribute to broader transformation initiatives while operating as First Line of Defense for operational and conduct risk.

What you'll be doing

• Assess Collateralized Loan Obligation (CLO), Mortgage‑Backed Securities (MBS), Commercial Mortgage‑Backed Securities (CMBS) and Asset‑Backed Securities (ABS) investments against funding costs, liquidity value, capital consumption and balance sheet alternatives
• Identify investment opportunities, set trading strategies and execute trades across Investment Portfolio securities
• Manage structured products within the bank’s liquid asset and investment portfolios in line with mandate and governance
• Evaluate portfolio manager quality including investment style, trading behavior, historical performance and portfolio construction discipline
• Maintain external market and regulatory relationships and communicate relevant trends that impact risk and positions
• Develop and manage analytics to support forecasting and management of liquidity, market and credit risks
• Quantify and monitor balance sheet sensitivities including prepayment modelling practices and key risk drivers to inform decisions
• Embed limit compliance across market risk, RWAs and liquidity and elevate key issues to senior management as needed
• Maintain model governance for models owned by Markets Treasury
• Manage operational and conduct risk in day‑to‑day activity including timely escalation within operational risk policy

What we're looking for

• Bring substantial experience in Treasury and or Global Markets with proven experience in a trading capacity
• Demonstrate deep knowledge of markets and economies including US fixed income markets
• Bring portfolio investment securities experience within a banking context
• Show strong structured products expertise including CLOs, MBS and CMBS and familiarity with ABS
• Apply established experience supporting trading and modelling including fixed income analytics, systems and prepayment modelling
• Use strong working knowledge of hedging techniques and methods including US GAAP and IFRS considerations and qualified hedge accounting practices
• Produce high‑quality analysis and risk insights including revenue forecasting and monitoring of liquidity, market and credit risks
• Partner effectively with independent control functions to support data integrity and analytics quality
• Communicate clearly with internal and external stakeholders across written, verbal and interpersonal settings
• Hold CFA charter or equivalent certification or bring equivalent demonstrable experience

Structured Products Portfolio Impact

This role offers a direct line of sight to the US balance sheet and the decisions that shape risk, liquidity and performance. You’ll work across markets, risk and control functions to execute investment strategies and strengthen the analytics that underpin them.

If you want a role where trading decisions and disciplined risk management sit side by side this is a chance to make that impact at scale.

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 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!

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

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.