Vice President, Prime Risk

HSBC Holdings plc; New York (NY); On-site; USD 180,000 - 250,000; Full time

Job summary

HSBC Holdings plc is seeking a Vice President, Prime Risk to provide first-line risk management for Prime Finance, FX Prime, and DCS businesses in the US. The role includes setting margin levels, limiting leverage, negotiating risk terms with clients, and monitoring risk within approved mandates.

The candidate will help develop margining approaches for new products, engage with clients to balance commercial and risk needs, and ensure policy compliance across trading desks globally, with a focus

Qualifications

• Strong grasp of market risk for derivatives across asset classes.
• Experience with hedge funds is an asset.
• SIE and Series 7 licenses required.

Responsibilities

• Define margining and risk limits for Prime/FX Prime/DCS clients.
• Develop risk-aware products and client terms.
• Engage with clients to balance risk and business needs.
• Monitor portfolio risk within mandates and credit limits.
• Escalate and manage policy exceptions with stakeholders.

Skills

Markets risk

Counterparty risk

Hedge funds experience

Risk systems knowledge

Stakeholder management

Time management

SIE license

Series 7 license

Strong communication

Trading systems

Tools

Trading systems

Risk management tools

Job description

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.

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

Provide “first line of defense” risk management for the Prime Finance, Foreign Exchange (FX) Prime Services and Derivatives Clearing Services (DCS) businesses. The role holder will fulfil these responsibilities through setting appropriate margin levels, controlling the amount of leverage/financing provided, negotiating strong risk terms in legal documentation with clients including term financing arrangements, setting appropriate client-facing limits, and proactively monitoring the risk within the portfolio. The role holder will have principal responsibility for ensuring that the business’s risk stays within the Prime / FX Prime / DCS market risk mandates and applicable credit limits.

The role holder will also contribute to the development of margining and in-business risk management approaches for new products and initiatives undertaken by these businesses, particularly as they relate to US clients but also globally where appropriate.

As our Vice President, Prime Risk, you will:

• Manage the exposure of the bank to its clients through setting appropriate margining and risk limits for clients
• Help the business develop products/solutions that are both sound from a risk management perspective and attractive to clients
• Engage with clients to agree risk/margining terms that balance the needs of the client with those of HSBC
• Keep management aware of key risks within the hedge fund portfolio and help to define an understanding of the appetite for these risks
• Find right balance between business risk appetite, firm risk appetite and client needs. This will require constant engagement/calibration with management and stakeholders and draw on the role holder’s risk knowledge as well as stakeholder management and influencing skills
• Risk decisions need to consider the severity of losses that could occur but balance these against the likelihood of them occurring
• Make independent decisions with respect to risk management / margining and escalated to senior management within guidelines or when appropriate
• Operate within trading mandates and permitted instruments lists given to these businesses by Traded Risk and limits set by Credit against the business’s clients
• Proactively manage exceptions to policy, working with the management of the business, heads of trading and the independent risk function. The role holder will work with these same stakeholders on change initiatives and must help ensure that impacts of these initiatives are well understood and mitigated appropriately

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

• A Markets background and an understanding of how to measure and manage the market risk of derivatives contracts across all asset classes
• A good understanding of counterparty risk; experience with hedge funds in particular would be an asset
• Familiarity with the bank’s risk (credit and/or market risk) and trading systems would be a strong advantage
• Strong communication skills and the ability to manage relationships effectively with a range of different stakeholders
• The ability to manage time and balance multiple priorities effectively
• SIE, Series 7 required

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!

The 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.