role Purpose

In light of recent regulatory developments and heightened scrutiny of HSBC’s Global approach to FX risk Management, a new central team is being established to own the Group’s NTBFX strategy, manage NTBFX exposures and maintain Global Procedures.

Within Group Treasury, we are looking for a suitable candidate to join the new FX team, with particular focus on the management of Structural FX risk (“SFX”) and Transactional FX risks (“TFX”). The individual will report into the Head of FX strategy

Group Treasury is the 1LoD owner of Non-trading Book FX (“NTBFX”) risk. This includes SFX and TFX risk.

In this role, you will:

• Monitor and manage the Group’s SFX exposures and HGHQ Structural FX hedging programs (circa $30bn notional). Rebalancing hedging positons, recommending strategy for individual currency positions, protecting against downside FX event risk, forecasting of SFX exposures; manages RWAs associated with SFX risk.
• Assist the Head of FX strategy in the development of the Group’s FX risk management framework and strategy.
• Prepare MI and sign off packs for FX reporting to senior Treasury management, Group Capital Management Meeting (“GCMM”) and Holdings ALCO.
• Actively contributes and provide SME knowledge into the NTBFX change project (a multiyear project to overhaul and automate the reporting, monitoring and hedging capabilities of HSBC).  
• Update and maintain the Group’s Hedging Strategy Document.
• Recommend Group SFX sensitivity limits to Head of FX strategy and 2LoD for approval, and monitors against these limits.
• Global SFX and Residual FX procedure “champion”. Responsible for development and maintenance, and recommends changes to Head of FX Strategy and SLoD. Transactional FX procedures champion, where ownership resides with Global Treasury.
• Ensure adequate controls and operating instructions in place for all Group SFX processes.   
• Undertake reporting for Internal Capital Adequacy Assessment (ICAAP) for SFX risk.
• Maintain the Group’s Article 352(2) waiver applications and permissions.

Requirements

To be successful in the role, you should meet the following requirements:

• Treasury/ Risk/ finance background, strong knowledge of accounting, capital requirements and FX risk.
• Understanding of hedge accounting and FX products.
• Excellent communication skills, both written and verbal.  Adept at presenting to senior stakeholders and at senior committees.
• Ability to work with, co-ordinate and influence a wide range of stakeholders. 
• Ability to pro-actively manage financial and non-financial risk.
• Able to deliver to tight deadlines, react quickly when required.
• Highly numerate with strong background in mathematic disciplines.
• Appetite to seek opportunities and work beyond the immediate boundaries of the role.
• Professional Accounting qualification advantageous, however significant operational experience will also be considered.