Debt / Fixed Income
Research / Reporting
Production of XVA: CVA, DVA and FVA;
PPNR: CCAR/DFAST/GMS XVA impact runs.
Risk Not In CVA (RNIC) framework ownership.
All IPV, other Fair Value Adjustments and Prudent Valuation balances;
All IPV and FVA methodologies and documentation;
Monitoring model restrictions and recommendations;
Levelling determination of assets and liabilities.
Help improve and ensure global consistency of the XVA methodology, processes and governance.
Engagement with Fixed Income core Product Control to ensure that the valuation conclusions are accurately reflected in the books and that the communication with the business is seamless and consistent.
Keep up to date with any core Product Control production issues.
Ensure that the governance and controls of fair value is adhered to. Prepare for and contribute to the valuation committees that opine on fair value for the business areas concerned.
Work with Analytics and the Fixed Income individuals from within the Valuations Group plus the Fixed Income Business Lead to identify the need for, and implementation of, fair value adjustments.
Ensure Valuation Group FIM requirements and other applicable accounting / regulatory standards are met. Liaise with Internal/External audit and regulators where necessary.
Work to ensure consistency in policies/standards across sites/teams and implement strategies to improve consistency where it is not already in place.
Identify, communicate and drive resolution of issues; whether people, process or system.
Maintain focus on process optimization and identify opportunities to enhance cost efficiency where possible (e.g. automation, outsourcing, centralization etc).
Drive standardization and streamlining of processes within the Fixed Income Valuations Group.
Bachelor’s Degree. Bachelors/Masters in a quantitative field are preferred. CFA/FRM/CQF are a plus.
Extensive market derivative knowledge in all fixed income asset classes: Rates and Flow Credit.
Experience of Fixed Income Models and Derivatives Valuation Framework (OIS Discounting /IR Curve constructions).
Experience of developing methodology and shaping policy for IPV / FVAs is a distinct advantage.
Good understanding of Funding, Liquity and Capital requirements for Global Markets.
Good understanding of accounting requirements for Valuation activity in Global Markets.
Good understanding and appreciation of Regulatory requirements and guidelines for Valuation activity.
Proven ability in working across multi-disciplinary and multi-cultural diverse work environments.
Experience of interacting with internal and external stakeholder groups (Business, Risk, Internal and External Audit, Compliance, Regulators).
Strong Analytical background.
Outstanding communication and interpersonal skills, including the ability to articulate key valuation issues to Senior Stakeholders in a non-technical manner
HSBC is one of the world’s largest banking and financial services organisations. We serve more than 37 million customers through four global businesses: Commercial Banking, Retail Banking and Wealth Management, Global Banking and Markets, and Global Private Banking.
Our network covers 70 countries and territories in Europe, Asia, the Middle East and North Africa, North America and Latin America. With around 4,000 offices worldwide, we aim to be where the growth is, connecting customers to opportunities, enabling businesses to thrive and economies to prosper, and ultimately helping people to fulfil their hopes and realise their ambitions.