Job Advert Details
Business: Collateral & Risk
Open position: 1
Role Title: Uncleared Margin Rules Valuations AVP
Global Career Band: GCB5
Location (Country / City ): Manila, Philippines
Recruiter Name : Veronica Suarez/Katrina Agaton
Why join us?
Uncleared Margin Rules are one of the most important regulatory requirements that HSBC need to comply with to trade bilateral OTC derivatives. The Uncleared Margin Rules Valuations team forms a critical part of enabling HSBC to remain compliant to trade. Being part of the team means participating in a dynamic and evolving environment, where technical and soft skills, as well as in-depth product knowledge of derivatives and market risk concepts all play an important role and provide ample opportunity for professional development. Joining the team, the successful candidate joins a global team working together across 3 locations and gets the opportunity to connect with a wide network of stakeholders in operations, front office and technology teams.
The Opportunity:
Uncleared Margin Rules were implemented gradually starting in 2016, following the announcement of the regulatory framework set out as per BCBS 261. The regulations require firms to calculate initial margin, primarily by using ISDA’s SIMM model. The SIMM model calculates initial margin requirements using market risk sensitivity inputs.
The Uncleared Margin Rules Valuations team is part of the Collateral and Risk Services within Markets and Security Services Operations, in HSBC’s Corporate and Investment Banking. The team operates out of 3 locations: Bangalore, Manila and London. The team’s mission is to support the regulatory initial margin calculation process, primarily utilizing ISDA’s SIMM model, as well as other regulatory complaint methods. The main functions enabling to achieve this are calculation controls, threshold monitoring and margin call dispute resolution/client query management.
As an AVP of the team, the successful candidate is expected to perform functional team management related activities for a small team, as well as to maintain and enhance the control environment. The successful candidate will contribute to issue resolution, stakeholder management and governance activities.
What you’ll do:
The Uncleared Margin Rules Valuations team is mainly responsible for:
ü Ensuring initial margin calculations are complete and accurate
ü Design, enhance and operate controls
ü Work with front office, technology, operations and other stakeholders to resolve calculation issues and exceptions
ü Investigate margin call disputes related to the initial margin calculation issues, supporting resolution and escalation of issues.
ü Continuously improve the control environment and process efficiency through driving change initiatives
ü Advise on client and internal stakeholder queries related to regulatory initial margin
ü Monitor exposure of undocumented counterparty relationships, and assist in remediation
ü Support central change initiatives that impact the calculation inputs (market risk sensitivities), or the scope of the team (e.g. introduction of new regulatory jurisdictions)
Information
What you will need to succeed in the role:
ü A University graduate with strong academic record in finance, economics, business administration or related field
ü At least 5 years of relevant work experience in a similar setting (e.g. international bank, banking regulator, financial institution, investment management firm or other similar institution)
ü In-depth understanding and practical experience with financial products especially derivatives
ü Good market risk / counterparty risk knowledge
ü Excellent verbal and written communication skills in English
ü Experience in market/counterparty risk reporting
What additional skills will be good to have?
ü Proficiency in Python or willing to learn Python
ü Experience working in market risk or product control areas
ü VBA, SQL, Python mastery
You’ll achieve more at HSBC.
HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.”
Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.
***Issued By HSBC Electronic Data Processing (Philippines) Inc. ***
Want To Apply?
- All applicants must have successfully completed their probation period
- All applicants must have met the Behaviour Gateway in the last performance appraisal
- All applicants should have served at least 18 months in their current functional role and department company
- All applicants should inform their respective line manager of their application
- Application form should be submitted via CareerLink along with the current CV
- All the completed applications should be submitted via CareerLink by 11:59 PM on the closing date
- Have not been previously declined for the same post within the last 3 months on the date of submission of their application
- Have not been on ANY form of Corrective Action within the last 6 months from the date of application
Declaring incorrect information in your application (e.g. incorrect performance and behaviour rating; and corrective action status) is considered a SERIOUS OFFENSE based on the HDPP Employee Handbook:
A. Very Serious Offense
"Sec 1. Any acts of dishonesty, which may provide reasonable grounds for the company to lose trust and confidence to the employee, which includes but not limited to the following:
c) Giving false testimony or falsifying any document, records or information or presenting such falsified document, records or information in any study, research inquiry; padding and deliberate overcharging of expenses; tampering with time records; requesting or allowing any individual to log in/out and actually logging in/out any individual.”
Nom du recruteur
Veronica Suarez
E-mail du recruteur
veronica.benz.suarez@hsbc.com.ph