Job Purpose:
- Primarily responsible for execution of, but not limited to, all trading requirements for the FI Passive business.
Your Responsibilities:
Impact on Business
- Servicing all trading requirements of the Passive FI team, and any other internal stakeholders, including the Active FI team.
- Instruments to include IG and HY corporate bonds, government bonds, listed derivatives, mortgages, FX, ETF’s and cash.
- To ensure trades are executed in accordance with agreed instructions and to add value by ensuring best prices to stakeholders.
- Ensuring Best execution and Regulatory requirements are adhered to
- Requirement to adapt and undertake any future trading requirements of the team as it evolves.
Customers / Stakeholders
- Portfolio Management team – Fi Passive and active and other internal stakeholders
- Head of Fixed Income Trading
- Clients
- Interaction with brokers, operations and other global FI trading teams.
Leadership & Teamwork
- Integral to the AMEU Dealing Team and more broadly the Investment Team
- Exhibit the highest degree of teamwork and flexibility, given the small team setup and multiple instruments traded.
- Best Practice
- Adherence to HSBC values
- Collaborate with other global FI dealing teams
Operational Effectiveness & Control
- Ensure processes are undertaken in the agreed manner in order to achieve the expected outcomes
- Keep abreast of process evolution in line with regulatory change and industry best practice
- Ability to demonstrate dealing processes and best practice
Role Context
- The candidate will have primary responsibility for trading all fixed income instruments on behalf of the FI Passive portfolio management team.
- To include global corporate bonds –mainly UK, US and European, global government bonds, listed derivatives, fx and some otc instruments.
- Ideally experience in trading a passive book of business and the relevant trading systems.
- Requirement to work closely with the PM’s providing market information on liquidity and market conditions.
- Must have a flexible approach given an integral part of a smaller trading team who execute both active and passive business.
- The candidate, although primarily responsible for passive trading, will be required to assist and cover for active trading when required.
- Interaction with other global FI dealing and fund management teams in addition to other departments such as Product, Legal, Compliance, IGM, Monitoring, Risk, Middle and Back offices.
- Good understanding of the technical infrastructure of trading passive business and OMS systems, settlement and post trade requirements.
- A proactive person, willing to contribute to the enhancement of trading processes and practices and team development.
- Ensuring the regulatory framework and internal FIM rules are adhered to.
Role Dimensions
- Trading for portfolios with overall AUM of approx $8 bln – Passive and Active.
- Trading volumes of approx. $7bln in FI and 16bln in Fx annually
Major Challenges
- Ensure efficient and effective trading for stakeholders
- Maintain and develop existing relationships with brokers, vendors and trading interfaces/platforms.
- Ensure fair treatment of all our customers
- Displaying behavior that forms part of the HSBC values and culture and adhering to HSBC risk policies and procedures
- Operating in line with the FIM
- Ability to react to changes in market conditions and operate under pressure in line with that expected with the role
- Ability to adapt to changes in technology and keep abreast of new processes
Observation of Internal Controls
- 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 the relevant processes/procedures.
Skills and Qualifications:
- Solid background in fixed income execution, both electronic and voice, with strong experience in corporate bonds
- Experience in trading global government bonds and fx
- Solid technical expertise in financial markets and strong work ethic.
- Excellent communication skills
- Thorough knowledge of electronic trading platforms such as Bloomberg, Market Axess and Fxall.
- Highly numerate
- Ability to work under pressure and a team player
- In-depth operational know how and a hands-on attitude
- Ideally with experience of OMS such as Charles River and Bloomberg AIM
- Awareness of local and global regulatory requirements and best practices.
- A committed and flexible attitude
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