Role Title: Global Markets, Head of Quants FICC
Grade: Managing Director
•The Front-Office Analytics environment at HSBC has evolved and changed significantly over the past few decades. To optimally support the business’ changing needs with regard to valuation and risk as well as the implementation of our strategic infrastructure, Global Markets Analytics is transforming from a very asset class-aligned organization into a function with cross-asset consistency where each product has one model team owner, one model, one valuation and one risk.
•As part of this reorganization, we are establishing a new FICC Quant team that combines the Quant teams in GFX with the Rates and Credit teams under common leadership, allowing us to accelerate the rationalisation of the Rates and Credit quant libraries as well as developing synergies with GFX. The role holder will be the leader of this new FICC Quant team.
•The new product aligned Quant teams will have responsibility for both Analytics, where we will increase the collaboration with Global Risk Analytics (GRA), and Development, where we will work closely with Technology.
•The new team will start with approximately 70 FTE and contractors across 4 locations (London, Paris, Bangalore and Hong Kong).
On a BAU basis the role holder will be responsible for the following:
-Own, develop, implement and maintain pricing models and/or infrastructure to support the Markets business in the trading and risk management of GFX, Rates, and Credit products
-Support trading desks on any related technical queries with regard to trading, risk management and infrastructure
-Ensure adequate controls over processes is adhered to line with the Bank's operational risk and model governance requirements
-Ensure adequate quality standards and best practices are maintained for the design and evolution of product data, analytics library, documentation, model testing and on-going library maintenance and support
-Rationalisation of libraries in line with the new “one product, one model, one valuation, one risk” approach
-Work closely with IT, Risk, Product control and other support groups on model implementation, system integration, data analytics and risk management
Develop close and effective working relationships within respective Regions/Countries
As a supervisor the jobholder will be required to comply with the Bank’s policies and procedures on effective Front Office Supervision. Specific responsibilities include but are not limited to:
-Supervisors are responsible for managing and reviewing the day to day activity on their desks
-Monitoring that the Quants’ activities and behaviours comply with all HSBC standards, policies and procedures (GSM/FIM) including legal, regulatory and exchange rules
-Ensuring that the Quants activities adhere to local regulatory policies applicable to the job holder and balance sheet location
-At a minimum, the jobholder will have to comply with Markets FIM B11.26 and Front Office Supervisory Control Policy
The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation. This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators.
The jobholder is responsible for managing and mitigating operational and conduct risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structures referred to as the 'Three Lines of Defence'. The job holder should understand their position within Three Lines of Defence and operate within operational risk policy, escalating in a timely manner where they are unsure.
The jobholder will adhere to, and be able to demonstrate adherence to, internal controls and will implement the Group compliance policy by adhering to all relevant processes/procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
In executing these responsibilities, the job holder will be leading by example and embed a culture that demonstrates conduct values and behaviours in their day to day activities.
Certifications, Qualifications and Experience (For the Job – not the Job holder. Minimum requirements of the Job)
•Experience working on pricing and valuation models
•Leadership experienceroles in a Front-Office Quant environment, gained at a Tier 1 institution
•In-depth mathematical knowledge in relevant product areas across FX, Rates and Credit
•A sound understanding of the design of Front Office pricing and valuation libraries
•Exceptional stakeholder management experience
Track record in building high-performing teams
Knowledge, Skills & Experience
•Capacity to work with large and diverse group of stakeholders. Good communication and leadership are a must.
•Strong leadership skills with experience managing people in complex organisations
•Strong interpersonal and negotiation skills with experience in a complex global environment
•Strong communicator with excellent oral and written skills
•Ability to work in fast-paced environment with proven ability to handle multiple outputs at one time
•The ideal candidate would have experience of deployment of models across the spectrum of MSS activity from algorithmic pricing and execution through to financial and risk reporting
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 UK is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.
We want everyone to be able to fulfil their potential which is why we provide a range of flexible working arrangements and family friendly policies.
HSBC is committed to making reasonable adjustments during the recruitment process for candidates with a physical or mental condition or impairment.
Please indicate what adjustments, if any, you may wish us to consider for you to be at your best through the recruitment process