Vice President, Institutional Client Group Credit Risk Management

Job description

Job description

Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC we use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities and the planet we all share.

The position is responsible for managing and analyzing the risks relating to a portfolio of Alternative Funds (primarily hedge funds but also private equity funds) and to support the Institutional Client Group (ICG) relationship management team in all credit-related matters. ICG seeks to secure sound, profitable and durable business for the Global Banking and Markets division from alternative and traditional fund managers.  Together with other internal stakeholders within Relationship Management (RM), the business, and Wholesale Credit and Market Risk (WMR), the Vice President (VP) will participate fully in the collective management of credit risk and undertake ad hoc projects as requested.  

The Vice President, ICG Credit Risk Management will be responsible for composing, reviewing and recommending credit reviews for fund vehicles which are more complex, highly levered, or less liquid.   Such funds are difficult to analyze and require a high degree of analyst skill to evaluate the relevant risk factors.   The position will also be responsible for ensuring appropriate documenting of all legal, compliance and credit risks per guidelines and approvals.

The VP will need a thorough understanding of markets and the alternative funds industry, and ensure that the credit policy, objectives and priorities of HSBC are fully met within the alternative funds space. This professional’s primary focus will be on hedge funds, although a range of fund vehicles could be analyzed including private equity funds and other fund types.  

The ability to build effective relationships across various departments – Prime, Client Management, Relationship Management and WMR – will be key to success in the role.

As our Vice President, Institutional Client Group Credit Risk Management you will:

Overall Accountabilities

· 
Recommend credit limits in partnership with Relationship Managers based on the bank’s risk appetite and client’s credit risk profile

· 
Understand Markets products and associated risks and mitigants

· 
Conduct periodic interim reviews and maintain clear and updated documentation in all credit files including financial statements, financial spreading, credit applications, validation records, internal and external correspondence

· 
Ensure appropriate documenting of all legal, compliance and credit risks per guidelines and approvals

· 
Review and assess client’s credit risk rating, or as driven by special events, based on internal and external ratings and analytical tools

· 
Report significant business events, financial trends, industry developments and other relevant issues relating to financial position of clients

· 
Uses initiative and independent judgment in analyzing information and making recommendations to WMR which are strongly and clearly supported in credit write-ups, and to defend verbal challenges from Credit Risk approvers

 

Customers / Stakeholders

· 
ICG RM teams; Global Markets product areas and WMR

· 
Provide a very visible point of contact for the Relationship Managers and client in terms of Funds renewals/new client credit requests.  For the portfolio of alternative funds being managed, the analyst will own the processes related to credit limit renewal/new onboarding activity and be responsible for meeting the reasonable expectations of the business in regard to such activities

· 
Contact with WMR to review credit issues pertaining to their portfolio

 

Leadership & Teamwork

· 
Cultivate an environment that supports diversity and reflects the HSBC brand

· 
Ensure activities and daily tasks are conducted in a way that ensure alignment to the longer term strategy

 

Operational Effectiveness & Control

· 
Ensure the most effective process is being used to support the requirements of the business and to meet the required controls, identify issues and gaps and put in place activity to resolve these

· 
Adhere strictly to compliance and operational risk controls in accordance with HSBC and regulatory standards, policies and practices; report control weaknesses, compliance breaches and operational loss events

 

Management of Risk

· 
Apply compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues

· 
Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues

· 
Promote an environment that supports diversity and reflects the HSBC brand

· 
Focus and oversight must be placed on any manual processes and exceptions to policy

 

Observation of Internal Controls

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

 

For this role, HSBC targets a pay range between $170,000.00 and $190,000.00

The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.

Requirements

You´ll likely have the following qualifications to succeed in this role:

· 
Extensive experience in the credit analysis of hedge funds, private equity funds and other institutional investors. Solid foundation of Markets products, with a solid understanding of Prime products.

· 
Thorough understanding of financial markets and negative factors which could impact the fund sector

· 
Extensive experience in the negotiation of market standard documentation such as ISDAs (International Swaps and Derivates Association) and GMRAs (Global Master Repurchase Agreements)

· 
Demonstrate high energy and have a ‘driver and achiever’ mentality

· 
Excellent verbal and written communication skills

· 
Outstanding analytical and organizational skills

· 
A proven ability to create and maintain strong relationships with stakeholders is essential

· 
Solid and proven relevant work experience within the banking / financial services industry

· 
Demonstrates thorough knowledge and/or a proven record of success in a role within the professional services industry

· 
Strong computer skills, including Microsoft Excel and Word; quick learner of data websites and applications

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the U.S. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!

All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.