At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.
The global HSBC Collateral Management team is responsible for the margining and associated management of collateral assets for all HSBC Group OTC derivative, FX, commodity, and repo activity. The group is tasked with minimizing HSBC’s counterparty credit exposure via the use of collateralization, acting on margin terms which are dictated in the various margin agreements, while providing superior client service to our counterparts.
Operating on a global platform comprised of internally developed components which work in conjunction with the Algo Collateral margin system, the US Collateral Management & Valuations group is comprised of teams dedicated to Client Facing functions, Data Quality and Control. Members of HSBC’s Collateral Management & Valuations team are actively engaged in industry initiatives.
HSBC has significantly expanded our breadth of services to include an enhanced and consolidated Global Valuations Service, which provides regular cross-product valuations statements via the HSBC Group internet site, HSBCnet, as well as other methods of statement delivery. The Team is in place to address questions and issues related to values on OTC derivative, Repo agreements and structured transactions. Additionally, the team closely monitors changes in the industry in order to deliver regular enhancements as we look to continually upgrade our service to better suit the needs of our clients.
The Client Facing team is responsible for direct interaction with clients in regard to the issuance, receipt and settlement of all margin related activity for OTC derivatives and Repo. The Candidate will work within the client facing team to facilitate these activities while also providing a high level of client service. As a team member the candidate will assist management in the continuous review of processes and controls while also working closely with internal stakeholders on new business and regulatory initiatives, process improvement and controls.
Primary Responsibilities/Essential Functions:
Perform various functions within the collateral management operations team, including:
The issuance and response of margin calls as defined in the relevant business documentation
Input and approval of collateral movements into HSBC’s collateral system (Algo) and follow through on the settlement of the collateral
Assist in the oversight of offshore Client Facing functions
Interaction with clients, ensuring that Collateral Services adheres to the Client Service Best Practice Framework and escalating issues as appropriate
(KYC) Know your clients: Swift escalation of all/any Client Complaints
Work closely with multiple settlement areas to follow up on any failed items and resolve intersystem breaks
Interaction with various internal stakeholders such as Credit, Legal, Documentation, Product Control, and the Front Office to ensure timely resolution of any margin call disputes and queries.
Work closely with team and department manager to ensure all daily processes are completed on timely basis
Support the Company’s Diversity programs.
Work with business partners to review all new business initiatives as it relates to collateral management
Perform other job-related duties as assigned.
Manage counterparty risk exposure of HSBC and provide valuation support to Clients on a daily basis.
Expedite resolution of all disputes with counterparts, investigating MTM differences in an efficient manner.
Continually review and challenge the current processes for potential improvements and identify control gaps.
Adhere to the OpEx (Operational Excellence) Continuous Improvement (C.I.) of high touch processes within the group.
Identify and highlight disputed margin calls; escalate as necessary
Operate according to prescribed procedures.
Understand & demonstrate compliance with all relevant internal and external rules & regulations which apply to the team
Ensure appropriate controls are followed to eliminate operational and counterparty credit risk, and procedures are continually reviewed and maintained
Management of Risk
Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.
Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
Each employee must promote an environment that supports diversity and reflects the HSBC brand.
Observation of Internal Controls
Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year-end performance assessments.
Each employee must understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.
