Holdings Market Risk Manager in London

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If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be.

Global Finance is integral to HSBC’s purpose and strategy, playing a valued role in managing costs and deploying capital in the most effective way. Our global team of finance professionals’ partner with the business to provide trusted insights and forward looking analysis; accuracy; efficiency and control to frame and influence business decisions.

We are currently seeking an ambitious individual to join our team as a Holdings Market Risk Manager, working together with colleagues to define, manage and achieve divisional business targets.

Role Purpose

HSBC Holdings (‘HGHQ’) is a financial services holding company. Its activities predominantly involve maintaining sufficient capital resources to support the Group’s diverse activities; allocating these capital resources across the Group’s businesses; earning dividend and interest income on its investments in the businesses; payment of operating expenses; providing dividend payments to its equity shareholders and interest payments to providers of debt capital; and maintaining a supply of short-term liquid assets for deployment under extraordinary circumstances.

The main market risks to which HSBC Holdings is exposed are banking book interest rate risk and foreign currency risk. Exposure to these risks arises from short-term cash balances, funding positions held, loans to subsidiaries, investments in long-term financial assets, financial liabilities including debt capital issued and structural foreign exchange hedges. The objective of HSBC Holdings’ market risk management strategy is to manage volatility in capital resources, cash flows and distributable reserves that could be caused by movements in market parameters. Market risk for HSBC Holdings is monitored by Holdings ALCO in accordance with its risk appetite statement.

HSBC Holdings uses interest rate swaps and cross-currency interest rate swaps to manage the interest rate risk and foreign currency risk arising from its long-term debt issues and forward foreign exchange contracts to manage its structural foreign exchange exposures.

This role will provide second line oversight for all of the market risk exposures of Holdings. The role will also provide oversight for limited ServCo market risk activities and, in future, potentially other portfolios of market risk that are part of Group Treasury.

In this role, you will:

• Communicate key risks and critical issues to senior Treasury Risk and Front Office management.
• Act as a subject matter expert on Holdings and ServCo market risks with a deep understanding of the business models and accounting types that are applied.
• Monitor of market risk positions with respect to market conditions, regardless of whether close or in excess of limits, and escalation of emerging risks or significant changes in the risk profile to senior management.
• Review new products and structures to identify all material market risks and ensuring effective controls surround these to ensure appropriate risk management occurs during their life cycle.
• Provide market risk management information to senior management as necessary to enable decision making with regards to positions.

To be successful in the role, you should meet the following requirements:

• Experience in Market Risk or other relevant areas
• PhD or MSc in Quantitative Subject
• Expertise in interest rate risk management and understanding of FX risk management.
• Strong quantitative skills: derivative pricing, VaR methodologies, market data analysis
• Strong technical skills (VBA, SQL, Matlab, C++)
• Understanding of different IFRS9 business models and accounting types (including hedge accounting)
• Ability to interpret changes in the Holdings risk profile in the context of the wider Group
• Ability to obtain data from multiple sources, link and analyse the information, perform data integrity checks

You’ll achieve more when you join HSBC. 

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As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of ethnicity, religion, age, physical or mental disability/long term health condition, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by local law in the jurisdictions in which we operate. Within the work place you will have access to various employee resource groups which aim to promote and achieve a healthy work / life balance and support our diversity ambitions. HSBC has in place processes in order to avoid nepotism, which means to avoid creating circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.