Collateral Client Facing Margin Analyst

Job description

The global HSBC Collateral Management team is responsible for the margining and associated management of collateral assets for all HSBC Group OTC derivative, FX, commodity, and repo activity. The group is tasked with minimizing HSBC's counterparty credit exposure via the use of collateralization, acting on margin terms which are dictated in the various margin agreements, while providing superior client service to our counterparts.

Operating on a global platform comprised of internally developed components which work in conjunction with the Algo Collateral margin system, the US Collateral Management & Valuations group is comprised of teams dedicated to Client Facing functions, Data Quality and Control. Members of HSBC's Collateral Management & Valuations team are actively engaged in industry initiatives such as the ISDA Collateral Committee, the London Collateral Framework Working Group and the Reconciliation Steering Committee organized by industry leaders.

HSBC has significantly expanded our breadth of services to include an enhanced and consolidated Global Valuations Service, which provides regular cross-product valuations statements via the HSBC Group internet site, HSBCnet, as well as other methods of statement delivery. The Team is in place to address questions and issues related to values on OTC derivative, Repo agreements and structured transactions. Additionally, the team closely monitors changes in the industry in order to deliver regular enhancements as we look to continually upgrade our service to better suit the needs of our clients.

The Client Facing team is responsible for direct interaction with clients in regard to the issuance, receipt and settlement of all margin related activity for OTC derivatives and Repo. The Candidate will work within the client facing team to facilitate these activities while also providing a high level of client service. As a team member the candidate will assist management in the continuous review of processes and controls while also working closely with internal stakeholders on new business and regulatory initiatives, process improvement and controls.

Primary Responsibilities/Essential Functions

Perform various functions within the collateral management operations team, including:

· The issuance and response of margin calls as defined in the relevant business documentation
· Input and approval of collateral movements into HSBC's collateral system (Algo) and follow through on the settlement of the collateral
· Interaction with clients and ensuring that Collateral Services adheres to the Client Service Best Practice Framework
· Working closely with multiple settlement areas to follow up on any failed items
· Interaction with various internal stakeholders such as Credit, Legal, Documentation, Product Control, and the Front Office to ensure timely resolution of any margin call disputes and queries.
· Work closely with team and department manager to ensure all daily processes are completed on timely basis
· Support the Company's Diversity programs.
· Work with business partners to review all new business initiatives as it relates to collateral management
· Perform other job-related duties as assigned.
· Manage counterparty risk exposure of HSBC and provide valuation support to Clients on a daily basis.
· Expedite resolution of all disputes with counterparts, investigating MTM differences in an efficient manner.
· Continually review and challenge the current processes for potential improvements and identify control gaps.
· Assist in the reengineer to improve and address control issues
· Identify and highlight disputed margin calls; escalate as necessary
· Perform according to prescribed procedures.
· Understand & demonstrate compliance with all relevant internal and external rules & regulations which apply to the team.
· Ensure appropriate controls are followed to eliminate operational and counterparty credit risk, and procedures are continually reviewed and maintained

Management of Risk

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Each employee must be aware of the Operational Risk scenario associated with the role and acts in a manner that takes account of operational risk considerations.

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Each employee must ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.

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Each employee must promote an environment that supports diversity and reflects the HSBC brand.

Observation of Internal Controls

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Each employee must maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. Any failures to comply with the above should be reflected in year-end performance assessments.

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Each employee must understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.

Desired profile

Qualifications :

·  Knowledge of OTC and/or Repo collateral management
·  Familiarity with OTC Derivative Products, Foreign Exchange, Precious Metals, Repo back and middle office functions.
·  Understanding of ISDA CSA, MRA and other margin related documentation
·  In depth knowledge related to the valuation of OTC derivative products
·  Knowledge of cash and non-cash settlement processes
·  Proficient understanding of Margin Requirement for Un-cleared Derivatives (MRUD)
·  A high level of customer service knowledge. The ability to communicate clearly and concisely with clients in this client facing role, but also very technical so client queries are met with professionalism
·  Excellent written and oral communication skills
·  The candidate must be able to work on their own initiative and be completely reliable
·  Ability to multi task and work under pressure
·  Effective team player
·  Good Microsoft Office Skills with an emphasis on excel knowledge
·  Minimum of 1-2 years of experience in Collateral Management, experience with Algo Collateral Management system is a plus.
·  College degree required
·  Series 99 is a plus

EEO/AA/Minorities/Women/Disability/Veterans