Job description

Some careers have more impact than others.

If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be.

Global Finance is integral to HSBC’s purpose and strategy, playing a valued role in managing costs and deploying capital in the most effective way. Our global team of finance professionals’ partner with the business to provide trusted insights and forward looking analysis; accuracy; efficiency and control to frame and influence business decisions.

HSBC Global Treasury is the global clearing house for HSBC’s financial resources. We proactively integrate, manage and steer our financial resources for today and for the future, whilst ensuring our prudential safety. Finance resources are defined as the cash, liquidity, funding and capital (including as measured by RWAs, leverage and large exposures) of entities within the Group and the interest rate and FX risks that results from the banking book activity.  We partner with Businesses and entities to provide sustainable optimised commercial outcomes to deliver the Group’s strategy. We manage the residual portfolios and risks with a mind-set of portfolio optimisation.  Our team lead a dynamic and inclusive culture fostering diversity of thought and where the best want to work.

We are currently seeking an ambitious individual to join our team as a Head of FX, Group, working together with colleagues to define, manage and achieve divisional business targets.

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 Non-trading Book FX (NTBFX) strategy, manage NTBFX exposures and maintain Global Procedures.

Within Group Treasury, we are looking for a suitable candidate who can add value to the Group by developing the Group’s FX strategy and risk management approaches. The individual will act as the Global Treasury point of contact for all NTBFX topics, and head up the FX strategy Team.

Group Treasury is the 1LoD owner of NTBFX risk. This includes Structural FX (SFX) risk.

In this role, you will:

• Develop the Group’s FX risk management practices and strategy to provide tangible benefit to the bank across all NTBFX risks. This will be a multi-year endeavour requiring global coordination across multiple stakeholders.
• Own the Group’s Hedging Strategy Document, with oversight of regional hedging strategies. Recommends Group SFX sensitivity limits to 2LoD for approval, and monitors against these limits.
• Be the owner of Global SFX and Residual FX procedures. Responsible for their development, maintenance and adherence to NTBFX policy and Global principles. Oversight of Global Transactional FX procedures. Must ensure the end to end procedures are adequate to meet NTBFX policy.
• Monitor and manage the Group’s SFX exposures and HGHQ Structural FX hedging programs (circa $30bn notional). Overseeing the rebalancing of hedging positons, recommending strategy for individual currency positions, protecting against downside FX event risk, overseeing forecasting of SFX exposures and RWA management associated with SFX risk.
• Steer the NTBFX change project to conclusion (a multiyear project to overhaul and automate the reporting, monitoring and hedging capabilities of HSBC). 
• Be responsible for the Group’s Article 352(2) waiver applications and permissions.
• Identify and support capital efficiency initiatives in relation to FX, for GT25 program delivery.

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.
• Experience managing large scale change projects, across multiple stakeholders. 
• Line management experience preferred. 
• 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.  Experience of working with regulators an advantage.
• 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.

You’ll achieve more when you join HSBC. 

https://mycareer.hsbc.com/external

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by The Hongkong and Shanghai Banking Corporation Limited.

As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of ethnicity, religion, age, physical or mental disability/long term health condition, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by local law in the jurisdictions in which we operate. Within the work place you will have access to various employee resource groups which aim to promote and achieve a healthy work / life balance and support our diversity ambitions. HSBC has in place processes in order to avoid nepotism, which means to avoid creating circumstances in which the appearance or possibility of conflicts of interest may exist within the hiring process.