HSBC Group

GCB 3

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Global Markets is part of our HSBC Corporate and Institutional Banking division, a markets-led, financing-focused business that provides investment and financial solutions. Our Markets business is one of the largest of its kind in the world. It combines sophisticated 24-hour global coverage with a detailed knowledge of local markets. Our services are offered both online and offline in 58 countries and territories. We specialise in foreign exchange, credits and rates, structured derivatives, equities and debt, equity and equity-linked capital markets.

We are currently seeking a high calibre professional to join our team as a Head of Cross-Asset Solutions, APAC & Head Corporate Sales Japan & Korea.

Background

Corporate Sales - MSS, part of HSBC Corporate & Institutional Banking, is responsible for serving our corporate franchise for MSS products. This requires that we adopt appropriate levels of client engagement across our client segments i.e. Global Corporates, International Mid-Market and Global Network Banking and provide sales coverage and value add solutions that enable clients to manage their global markets needs and the specifically manage the risks to their balance sheet arising from exposure to FX, Rates, Credit, Commodities etc.

APAC corporate sales’ business traditionally has a high concentration towards Flow FX and there is an articulated strategy to increase the proportion of non-cash share of revenue by focusing on growing the cross-asset derivatives business and financing solutions.

This is also relevant under the new CIB management strategy, where there is a renewed focus on GC/IMM segments in Banking. Within that strategy, the key products that will require attention from Corporate Sales side besides vanilla FX would be the value-adding cross asset derivative products including financing solutions.

The Role and Description

The Head of Cross-asset Solutions APAC & Corporate Sales - Japan & Korea, will be an important leadership role in implementing the above growth agenda while ensuring it’s broader alignment with the overall strategy for MSS. The role is intended to be based in Hong Kong reporting to the APAC Head of Corporate Sales.

Besides being the functional manager for the corporate sales businesses in Japan and Korea, a key responsibility for the role will be the development and growth in business and revenue of the cross-asset Business (non-flow) for Corporate Sales, across all asset classes, including financing solutions for the corporate client base in APAC.

The role therefore will involve broadly three segments of responsibilities:

1.    Cross Asset Solutions Revenues Growth in APAC Corporate Sales

• Enabling and Engagement with Stakeholders
  • Engaging with GDM and GFX trading and structuring teams to be the point-man for product growth
  • Working with the product teams for systems, pricing, booking enablement and driving new products, including sales processes and suitability
  • Coordinating market intelligence including Coalition to actively direct knowledge for on-ground sales to push for growth
  • New product establishment & commercialisation
• Sales coverage of clients - a 3-tier coverage model depending on requirements in different sites.
  • Direct/High touch Coverage – Involvement in direct client discussions, origination, pricing and execution of transactions in select markets that require this expertise. This includes regular dialogue with Sales, RMs and internal stakeholders on identifying and delivering on opportunities in the derivatives space. This will be for markets where the non-flow business requires direct coverage and product experience subject to cross border regulations and Regulatory Compliance approvals.
  • Moderate Coverage – Selective direct client dialogue and origination, involvement in driving strategy, identifying market themes and select stakeholder engagement for growing revenue in the relevant country. This will be for markets that have established flow capabilities but require support for bespoke opportunities  complex transactions.
  • Low touch Coverage – This will be for markets with established on-site capabilities/capacities. Here Coverage and support will be focused on enabling infrastructure, pricing capabilities and platform for Sales in the site. Support with sharing trade ideas and themes and select involvement if required on client transactions.

2.    Thought Leadership

• The role holder will also have responsibility of managing the Thought Leadership (TL) team covering APAC. The TL team will increase the focus of their efforts on delivering growth in revenue for the non-flow business, and assist in the 3 tier coverage model described above where applicable. 
• Calibrating the effort, content and output of the TL team with a view  to  have  the  right commercialisation/monetisation lens to their efforts.

3.    Head of Korea & Japan Sales

• Functional management of Korea and Japan corporate sales teams with the overall responsibility of the overall corporate sales business, growth in revenues/market share, people, processes and strategy along with its implementation. 
• To specifically bring efficiencies to the sales structure, and to give it the adequate support in their quest to grow and develop non-flow business in GC/IMM businesses.
• Engaging with in-country and  regional management in conjunction to on-site sales heads to chart out  growth strategy and execution of the corporate  sales plans.

Key Responsibilities

• Responsibility for the cross-asset revenue across asset classes for APAC. The role holder will be accountable for delivering growth in this part of the business across the corporate client base and supplement this through the 3-tier coverage model described above. The key focus area will be non-flow segments of these products.
• Work closely with the sales teams and key global product champions within Corporate Sales and leverage the global efforts within that towards growth in APAC region.
• Focus on front to back enablement for cross-asset business as described above.
• Manage and develop the Thought Leadership team within Corporate Sales and enable them to be important drivers of revenue and origination of content for CIB Corporate Clients in APAC. Focus on origination and idea generation from the team to achieve tangible growth in revenue. 
• Work closely with the FRM teams on the current pricing framework and look for ways to optimize this to increase HSBC’s win ratio and improve competitiveness in the Rates business. Work closely with trading and structuring to ensure the pricing and product offering for Rates enables the team to increase market share.  
• Actively monitor and recycle corporate RWAs across our portfolio, by exploring sell downs with Institutional Sales, or other solutions. 
• Develop and increase the Structured Lending business in MSS for APAC, by close collaboration with Banking, Structuring and Sales in identifying and converting client opportunities. Streamline the product and documentation to make this easier for Sales to execute and train and market the product amongst CIB stakeholders. 
• Regular discussions with Sales teams around analysing key clients balance sheets, upcoming financing requirements, corridor/offshore exposure to develop a pipeline of targeted client pitches. Focus on country corridors for outward investment to identify hedging requirements in line with business activities.  
• The role holder will have a strong understanding of the country’s market and corporate client base and able to demonstrate / evidence the ability to build trusted relationships with the country’s clients.
• As a member of Asia Corporate Sales Exco, continue to contribute to the future direction of strategy by providing relevant inputs, sharing best practise, taking ownership of specific initiatives at a global level

Functional Oversight Responsibilities for Group Entities

• Accountability of the Corporate Sales business for Korea and Japan. Growing Corporate Sales revenue safely in each of the geographies in accordance with HSBC best practices and local regulations as the Functional Manager for these teams.
• Ensuring that the team structure in responsible countries is fit for purpose for implementation of the plan and owning the strategy for putting in place the right structure that is balanced across leadership, experience and diversity. As part of the process drive the strategy for learning and development of the team and specific key talent.
• The requirement for providing functional oversight arises on account of all HSBC Group entities being part of the Group are also governed by a common set of values, policies, strategy and guidelines set out by the Group which all HSBC entities across the globe are required to follow. The job holder shall accordingly exercise functional oversight on their counterparts in Group entities to facilitate these values, policies, strategies and guidelines to be cascaded and implemented effectively.
• The job holder shall ensure that utmost care needs to be taken whilst exercising functional oversight on Group entities and it shall be done strictly on an arm’s length basis. This would generally mean provision of policy level guidance and advice and escalation of significant issues / exceptions.

Entities supported

- The Hongkong and Shanghai Banking Corporation Limited, Tokyo branch

- The Hongkong and Shanghai Banking Corporation Limited, Seoul branch

• Nature of activities: Functional supervision of MSS Corporate Sales Heads of above sites

Management of Risk

• The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation
• This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators
• The jobholder is responsible for managing and mitigating operational risks in their day-to-day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence’. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required

Observation of Internal Controls

• The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures
• The jobholder will implement the Group compliance policy by adhering to all relevant processes/procedures. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business must comply
• This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators
• The jobholder will adhere to all relevant processes and procedures including information barriers and confidentiality requirements. Adherence to the control of information procedures, including compliance with the need-to-know policy, is key, where the jobholder has direct management oversight of individuals on the private side of the CIB Origination Chinese Wall.
• The jobholder will implement measures to contain compliance risk across the business area. This will be achieved by liaising with Compliance department about business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Requirements of the role-holder

• A strong understanding of HSBC’s MSS construct will be key to the role. Given the need to originate bespoke and innovative solutions for clients, it will be imperative for deep understanding of client sectors, client balance sheets and an in depth knowledge of Markets Products across asset classes including Rates, FX, Options and Credit, and strong partnership with various stake holders across Structuring, Banking, Risk & Trading. The role holder will be required to demonstrate a proven track record in delivering these outcomes in their career. A strong knowledge of hedge accounting, client best practices, and of legal documentation will also be critical. 
• Leadership skills, People skills and Stakeholder engagement are key requirements. As this role will have multiple facets of interaction. Of critical importance will be the role-holders ability to manoeuvre the organisational dynamics across Country Corporate Sales heads, Sales people, Trading, Structuring, FRM, Risk/Compliance, and other internal stake holders 
• The role holder must also drive the HSBC conduct agenda by helping drive the right culture, leading by example and working proactively with various internal control and compliance functions to ensure suitable checks and balances are in place to drive business in the right direction.
• Strong foundation on sales and suitability processes and risk mitigation along with front to back sales processes involved across products.
• Intimate knowledge of the Bank’s capital, pricing, XVA and RWA framework, with the ability to identify ways to reduce RWAs, optimise financial resources within MSS for the corporate Sales business.

Certifications, Qualifications and Experience

• Analytical aptitude in accordance with demands of the role (size of the organization, business knowledge process, compliance/risk nature of the function, intensity and diversity of change, competitive landscape for resources)
• Proven track record and extensive experience in covering clients, developing a derivatives business and delivering on revenue targets. Ability to translate market needs into marketable solutions for clients.
• Experience managing a team with clear competencies in people & development, performance management, and high-quality execution
• Excellent presentation & communication skills, including advanced knowledge of PowerPoint & Excel
• Strong understanding of the Corporate Sales business, its products, clients, systems and key processes
• Good understanding of Capital Markets, covering foreign exchange instruments (Spot, Options, Swaps, Forwards and Futures) and interest rate derivatives and an ability to understand & manage a diverse and sometimes complex, product set
• Strong understanding of APAC market regulations and restrictions in each asset class (FX/Rates) 
• Strong communication, negotiation / influencing and presentation skills
• Hold relevant exams and qualifications to satisfy local and any cross-border market regulations for non-advisory sales and trading activities

The chosen candidate for this role will be required to undergo enhanced vetting. Subject to local laws, this will require the individual to satisfactorily pass a series of additional checks as part of the recruitment process and on an ongoing basis, if appointed to the role. HSBC Group reserves its position with regards to any steps which it may take in relation to any material adverse findings which arise either when the checks are originally completed, and/or if relevant, on an ongoing basis. For more information about the enhanced vetting for this role, please contact the recruiter for this role.

Your local internal application policy should be followed. For internal applicants in Hong Kong with less than twelve months in their current role, please also obtain and enclose the endorsement from your current line manager in the application as well; for more information, you can visit HRDirect and search for content "HKG: Do I need any approval to look for internal career opportunities?".

Opening up a world of opportunity

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Issued by The Hongkong and Shanghai Banking Corporation Limited.