Collateral, Margin and Counterparty Credit Risk Specialist

Why join us?

The Margin Requirement for Uncleared Derivatives [MRUD] is one of the teams within Global Markets Middle Office [GMMO]. GMMO is responsible for the approvals, policies, portfolio management and reporting on the Group’s exposures. GMMO also works with Regional GMMO functions across Global Risk to ensure functional consistency and delivery across all group offices.

For the BCBS261 (i.e. MRUD) process; The GMMO Operation Hub Team is currently based out of GSC Bangalore and Manila providing support to several Risk functions/teams across the Group.  The team is primarily responsible for the daily initial margin calculation, controls on the end-to-end internal initial margin calculation and support the dispute investigation process across the main HSBC HUB (i.e. HBUS, HBEU,HBUK HBUK, HBFR, HBAP, HASE and Group).

The role of the GMMO Operation Hub Global Lead for MRUD is to lead and operationally manage a Global Support team for the cross-asset class across GSC Bangalore and Manila. The Role Holder is expected to be the “face” of GMMO Operation Hub to trading hub stake holders for all MRUD related matters and ensure operations are carried out in a synchronized, controlled and highly time sensitive work environment. The Role Holder should actively drive growth in the team’s capabilities, deliver individual training / mentoring and develop talent. The Role also has a significant element of relationship management with Market and Counterparty Credit trading hub teams and other relevant stakeholders.

The Opportunity:

The key functions of this role include the understanding of:

• The Role Holder needs to deftly balance between being a Technical Expert and a Leader / Manager to succeed in this role.
• The Role Holder is expected to completely understand the Operating Model and align the team, accordingly, engage effectively with colleagues across businesses and products, work collaboratively in a global context and proactively seek ways to improve current processes, present ideas and support the implementation of change.
• Supporting the daily running of the internal initial margin calculation process.
• Performing analysis and reporting of initial margin calculations to internal and external stakeholders, namely collateral, GMMO and industry regulators.
• Participating on the daily Crowdsourcing vote process.
• Reviewing and improving existing BAU process

What you’ll do:

Impact on the Business/ Function:

• Reviewing & understanding the regulatory framework for BCBS 261.
• Working with all relevant stakeholders on the daily end to end delivery of BCBS 261 initial margin calculation.
• Supplement the review of GMMO BRDs on BCS261.
• Working in the development of GMMO framework for IM.
• Working on developing joint work with Collateral function on the dispute process.
• Participate on the daily IBA voting of Crowdsourcing.

Customers / Stakeholders:

• Collateral Management.
• Front Office.
• GRA (Regulatory Risk Analytics).
• GMMO.

Leadership & Teamwork:

• Coordinating the daily Business as Usual (BAU) delivery.
• Liaising with all stakeholders.
• Ensuring completeness and quality assurance.
• Working on delivering a high standard GMMO Control framework.

Operational Effectiveness & Control:

• Ensure that GMMO Service Level Agreement are delivered in a timely manner.
• Ensure completeness & accuracy of submitted data.
• Assist in the development of strategic solutions.
• Perform a thorough review of the final data expected to be submitted by GMMO to downstream users (e.g. Collateral Management Team).

Housekeeping:

• Maintain equipment, systems and general work environment in good condition.
• Issues / problems are investigated or resolved immediately or escalated to Line Manager.

Managing for Value:

• Identify ways for improving service / adding value / reducing costs in line with business goals.
• Encourage and support initiatives originating within the team for implementation and recognition.

What you will need to succeed in the role:

• Relationship Management.
• People Management & Employee Development.
• Attrition and Business contingencies.
• Process & Business Knowledge. 
• Skill set match / profiling for the teams.
• Business Re-engineering.
• In addition, the role will require a large degree of management of streamlining of processes while seeking efficiencies within current processes to ensure that appropriate economies of scale are achieved.
• The incumbent will be responsible for the review of new business initiatives relating to collateral optimization in Collateral functions and the process impact to Collateral Operations e.g. FXPB, Repo, Equity business. Aligning the various businesses.
• This role will require the incumbent to build out an effective team covering Collateral Services tasks on a daily basis. This will require the individual to understand and educate their team, be able to work with multiple business stakeholders and communicate constructively and concisely.
• Liaising with multiple stakeholders and updating on the regulatory impact coming out of North America and Europe. Managing stakeholder queries.