Director, Head of Funding and Liquidity

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.

Markets Treasury is responsible for the management of the funding, liquidity and structural interest rate risk for HSBC.

Markets Treasury is a significant contributor to the revenue of the Group, with staff in over 50 sites worldwide and spans the various Group balance sheets. Markets Treasury provides input into each local ALCO and liaises extensively with Group Treasury.

Markets Treasury is the execution arm of Treasury and a significant contributor to the revenues of the Group, with staff in over 45 sites worldwide spanning the various Group balance sheets. Markets Treasury provides input into each local ALCO and liaises extensively with Group Treasury.

The remit of the line of business (LoB) includes:

• Managing cash, liquidity and funding for legal entities together with the bank’s overall high quality liquid assets (HQLA), and short term funding requirements;
• Managing the structural interest rate positions (banking book) of the bank;
• Generating stable revenues by optimising return on interest rates and HQLA;
• Represent on relevant topics of expertise in the internal governance forums, to the regulators, investors and other third parties.

Role Purpose

The Director, Funding and Liquidity role is responsible for overseeing Money Desk and Analytics team, contribute to Markets Treasury business management by providing expert judgement on various liquidity and funding matters, provide recommendations to management on liquidity and funding optimisation, drive innovation and process improvements.

Key responsibility areas include:

Cash management:

The cash management of the entity – ensuring the efficient management of the entity’s central bank and nostros accounts across all balance sheet currencies. Close control over the envelope of cash allocated to Markets businesses to ensure the bank remains with a prudent level cash with the Liquid Asset Buffer. Coordination with Treasury and business to understand future material cash flows so that they can be managed efficiently.

Liquidity:

Operational liquidity management – ensuring the entity remains within its liquidity risk appetite in each material currency primarily via the use of money market and FX swap instruments as well as coordinating with the funding desks of Markets Businesses. This requires very close coordination with Group Treasury teams as well as clear and robust communication/negotiation with Markets business.

Coordination with the Investment Portfolio team to ensure the appropriate composition of the Liquid Asset Buffer (LAB), and jointly responsible for ensuring the LAB is comprised by exposures within the risk appetite defined via the LAB Committee.

Ensuring the LAB is monetisable to the extent claimed in the liquidity value recorded against it.

Ensuring appropriate diversification of the LAB to ensure it remains robust and monetisable in the case of specific liquidity stresses.

Working with Group Treasury colleagues to understand the forecasts of cashflows to ensure that liquidity is managed efficiently and that major movements are well understood and articulated.

Manage collateral position of the bank to satisfy any obligations.

Manage intraday liquidity of the bank in partnership with Operations and Treasury to safeguard the bank and optimise the liquidity utilisation.

Providing subject matter expertise in all matters pertaining to Markets Treasury and / or liquidity management to internal and external stakeholders.

Funding:

Own the suite of wholesale funding products such as Commercial Paper, Certificates of Deposits, FHLB borrowing, senior unsecured issuance, structure MTNs.

The responsibilities include update to the legal terms, maintenance of the coverage, updates on technology and product innovation, optimisation amongst the suit of wholesale funding options, execution of the funding plan.

Risk Management:

Actively manage interest rate risk position within the Money Desk remit optimising NII within the financial resource constraints and risk limits.

Regulatory Change:

The role holder will need to adapt – and help those around them adapt - to those regulatory changes that are still to be implemented over the coming years.

Key responsibility areas include:

Leadership / Management:

The role holder will manage a number of direct reports and manage the Funding and Liquidity team.

The role holder may be asked to undertake Front Office Supervisory responsibilities including sign-off of P&Ls, Risk and Operational Risk KRIs.

The role holder will be expected to ensure they are respected subject matter experts across the broad range of Markets Treasury activities and available to those in the entity that require assistance.

They need to maintain a risk management mindset - balancing having to always hold opposing arguments in their heads while also making decisions in a pressured environment.

The role holder will be responsible for ensuring any issues are escalated appropriately.

Management of Risk

Responsible for the continual assessment of operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructuring and the impact of new technology.

Demonstrates compliance with HSBC Group standards, manuals and policies and adheres to the defined work practices, internal controls and risk management standards associated with the role.

Observation of Internal Controls

Maintains HSBC internal control standards, including the timely implementation of internal and external audit points together with any issues raised by external regulators.

Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business activities associated with the role, specifically US internal controls and compliance policies and manuals.