Chief Investment Officer Markets Treasury

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.

Responsible for the management of the HBUS investment portfolio and determination/execution of interest rate risk positioning. The Markets Treasury Investment Portfolio serves our dual mandate to manage the structural interest rate risk of the bank and to execute within the liquidity and funding strategy for the bank as defined by the Asset & Liability Committee (ALCO). MKTY is a profit center and whilst managing risk, liquidity and funding is the primary driver, it is charged with doing so in the context of an agreed budget.

Interest Rate Risk Management
  • Manage the HBUS investment portfolio to position Markets Treasury interest rate risk exposure. Responsible for sector allocation as well as individual security selection within the portfolio. The portfolio should be managed to meet its goals while meeting/exceeding NII AOP as well as adding to net mark-to-market of MKTY. In fulfilling this responsibility, individuals are:
    • required to comply with all relevant internal and external limits to which they have been advised, including, but not limited to: a) Market Risk Trading limits, b) RWA limits, c) Liquidity limits
    • expected to be familiar with the sensitivities of the local balance sheet for which they are responsible
    • expected to be sensitive to market and economic conditions environment when managing their risk positions
    • expected to have a detailed understanding of IFRS 9 and take responsibility for managing the impact of IFRS 9 on the MKTY book for which they are responsible.

Liquidity Management
  • Liquid asset portfolio - ensure that the liquid asset buffer of investment securities represents a diversified executable cohort - in accordance with regulatory and internal (ALCO and HSBC Group) requirements.
  • Commercial surplus- deployment of commercial surplus.

Collateral and Repo Management
  • Identify and efficiently allocate all assets which can be used as collateral in the portfolio

Analytics
  • Develop and manage accurate and high quality analytics functionality which supports the management of risks within the portfolio and mortgage loan position.
    • Fully understand prepayment modeling practices and bias as relates to risk posture and external references.
    • Fully understand the nature of the risks to which they are exposed and responsible for managing. Quantify and monitor key drivers of the risk position. Implement scenario analysis, return comparisons and other sophisticated tools to support risk management and guide investment decisions.
    • Work with independent control functions to be comfortable with the data integrity and the quality of analytics, which they produce.


Customers / Stakeholders
  • Keeping abreast of market trends and competitive developments through establishing and managing an external network of market and regulatory contacts.
  • Assist in the understanding of risks which lie with the HBUS Mortgage Co. Both loan and servicing assets.


Leadership & Teamwork
  • Recruitment, evaluation, recognition and retention of high quality staff. Drive a performance management culture that defines high performance, eliminates poor performance and ensures that staff are engaged, utilized and developed appropriately to ensure retention and maximum contribution
  • Development of the staffs technical and management skills. Maintenance and management of viable succession plans. Focus on succession planning and talent management to ensure a management pipeline that is both technically skilled and able to demonstrate the management capabilities, and accountability and responsibility required.


Operational Effectiveness & Control
  • Maintenance of Satisfactory Audit, and timely implementation of recommendations particularly high risk points relevant to the portfolio/trading business.
  • Limited Operational Losses


Major Challenges
  • Maintaining balance between functional objectives and local priorities and desires of local Senior management.
  • To grow revenue and net Profit on an annual basis whilst ensuring excellence in cost management.
  • Management of risk relative to limits and revenue objectives.
  • Development of staff and retention of high rated employees in a very competitive market environment
  • To work collectively and collaboratively across the Global Banking and Markets platform as well as with other lines of buisness within HBUS
  • Significant challenges around new regulatory rule making, E.g. Basel 3, Dodd Frank Act, Volcker requiring significant engagement by the business both in terms of providing feedback and comment on proposed rules, as well as evaluation and implementation of new regulatory requirements.


Role Context
  • This role is highly impacted by external market conditions
  • External regulators will place greater scrutiny on the business itself, how it is executed and how staff are remunerated and as such this places even greater management accountability and responsibility on the incumbent


Management of Risk
  • Is aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.


Observation of Internal Controls
  • Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
  • To implement the Group Compliance policy locally by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, fostering a compliance culture and optimizing relations with regulators.


Qualifications

  • Degree level education and substantial experience in markets business or related industries either within HSBC or with a relevant market competitor.
  • Proven track record in successful management of a key product group or major Balance Sheet within the Global Markets business.
  • Experience of liquidity management as well as management of investment and liquidity portfolios with particular knowledge of managing convexity and mortgage portfolios.


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.