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. We are looking for a high calibre candidate to join the fast growing Repo Trading team based in New York, servicing our clients across the whole region and globally. As our Repo Trader you will:
- Price and risk manage fixed income financing transactions. The transactions are predominately flow in nature but will have a focus on the Special's / on-the-run UST Repo market
- Employ cost effective hedging strategies to manage desk risk. Typical products traded will include repos, stock borrow/lending, and futures
- The primary focus of this role is repo and financing of US Treasury securities. However, because the team size is smaller, the candidate will need to be able to provide cover for traders in various government bond repo sectors and be willing to learn and risk manage in these Rates sectors on a frequent basis
- Generate trade ideas and discuss these with sales and directly with clients. Be willing to establish strong connections with our clients and work will all our stakeholders in pursuit of the best outcomes. Develop direct trading relationships with other market participants
- Manage the counterparty and issuer credit risks that are generated in the portfolio. Understand how these exposures evolve overtime and be responsible for dynamically controlling them as market conditions change
- Work closely with all our internal Stakeholders including Senior Management, other Trading/Sales Desks, BSM, ALCM, Risk, Operations, Finance, Legal, Technology and all other Functions. To understand the financial resources available to the desk and how to optimise those against a backdrop of smooth front-to-back deal processing
For this role, HSBC targets a pay range $250,000.00 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
Youll likely have the following qualifications to succeed in this role:
- Well-developed trading skill set in at least one of Credit, Rates or some Money Markets products combined with a good understanding of the wider markets
- Have some knowledge and a strong interest to constantly learn more about the REPO market and its participants. Should have a strong understanding of counterparty risk well.
- To be motivated to work towards revenue targets in a sustainable manor
- An interest to improve existing and create new products, tools and processes for the desk
- Have strong skills in team working and a passion to continue to work as part of a team for most tasks throughout the working day. Also needing a high degree of self-motivation
- Strong communication and interpersonal skills. The role requires the trader to work closely and develop new relationships with Sales, clients, brokers, other market counterparties and all Functions
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.
