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Associate, Securities Lending Trader

Company: HSBC
Location: New York
Posted on: June 12, 2021

Job Description:

To effectively lend client securities in the Americas to optimise revenues globally, ensuring that a high level of customer service is maintained within the agreed client mandate and risk framework.

Environment of the Job

  • HSBC Agency Lending sits within HSBC Securities Services (HSS) as per of the wider Markets and Securities Services business.
  • HSS provides a range of securities services to a client base which includes sovereign wealth funds, major insurance companies, asset managers, investment banks, government agencies, investment trusts, collective investment schemes, corporates and pension funds.
  • The business is globally located with major centres in locations including London, Hong Kong, New York and Dubai. Total staff numbers exceed 3,000.
  • The service range includes global custody, UK sub custody, trustee and depository services, investment administration, performance consultancy, securities lending, treasury and FX and corporate trust and loan agency.
  • Assets under custody/administration total c$5trn.
  • The business is regulated by the FSA.

Guidance and Authority

  • The jobholder is subject to compliance with FCA and Fed rules, general Bank guidelines and normal budgetary disciplines.
  • The jobholder makes decisions on individual loans for non-discretionary contracts (within the terms of that contract) and discretionary contracts where full authority is held by the individual to trade at competitive and profitable rates.
  • The jobholder must comply with all US regulatory and licensing requirements.

Stakeholder Management

  • Ensure that HSS develops and consistently maintains a premier quality reputation, internally and externally, for the Securities Lending aspects of its business. Support internal functions in the delivery of business priorities.
  • External stakeholder management - Clients, Counterparts and 3rd party vendors.
  • Internal stakeholder management - Client Management, Product Management, Treasury Operations and Business Development.
  • Build trust across regions and locations.
  • Influencing and negotiating to gain a win-win outcome.
  • Use input from client and market contacts to contribute to the development of new and enhanced HSS lending products.
  • Improve client retention and satisfaction though effective delivery and enhanced revenue from the lending products.

Risk and Conduct

  • High standards of ethics and market conduct.
  • Trade within the HSBC Governance framework including but not limited to:
  • HSS Trading Limits
  • HSS Credit Risk Exposures
  • Best execution and fair distribution
  • Risk awareness and judgement of ad-hoc events which could threaten day to day business and clients.
  • Escalation protocols and procedures in accordance with policy.
  • Awareness and application of tax, legal and regulatory requirements.

Employment eligibility to work with HSBC in the U.S. is required as the company will not pursue visa sponsorship for these positions

  • 3 Years trading experience in agency securities lending.
  • Effective management of a book of risk and allocation of global inventory across both equity and fixed income securities.
  • Prior regular experience with and understanding of cash collateral settlement, pricing and reinvestment mechanisms is expected.
  • Meet business performance targets including counterparty/market revenues:

o Revenue opportunity identification

o Implementation of trading strategies and ideas including inventory and collateral management

o Monitor progress against annual revenue plans

  • Build and maintain trusted counterparty relationships through proactive engagement.
  • Provide input into Portfolio Evaluations and Market Commentary.
  • Demonstrate an understanding of:

o Securities lending pricing methodologies - drivers of demand and pricing, for both cash and non-cash collateral products

o Client profiles and their investment strategies, in order to optimise risk vs return performance

o Counterparty profiles and their activities (prime brokers, broker-dealers, repo/funding desks)

o Wider Custody Functions (Income, Settlements, Corporate Actions)

o Securities Lending systems - Trading Apps, Global 1, Global Custody Systems (GCS/GHSS), Bloomberg (prior knowledge helpful but not necessary)

  • Proficiency in excel is expected. Helpful to have knowledge of coding in VBA and/or other programming/statistical languages.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

#LI-KC1 #HSBCUSA

Keywords: HSBC, New York , Associate, Securities Lending Trader, Other , New York, New York

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