The Funding Manager will work closely with Debt Capital Markets (DCM) on the execution of issuances, Group Funding and Investor Relations, MKTY and the EMTN desk, as well as supporting the Head of ALCM on debt issuance roadshows and coordinating issuance documentation.

Principal Accountabilities: Key activities and decision making areas Typical Targets and Measures Impact on the Business/Function

Debt issuance :
Support all aspects of the bank’s debt issuance programs including governance, pricing, collateral management, regulatory oversight, credit rating agency support relations and investor relations activity. Support the transformation of HBCE into the Group canter of excellence for Euro issuance in the debt capital markets.

• Own the governance for all debt issuance, notably the MTN and structured notes programs, working closely with MKTY to ensure the MKTY funding grid reflects the bank’s appetite for funding at various tenors, taking into account funding concentration risk appetite levels;
• Work with Legal and Group Funding on planned issuances;
• Collaboration with Investor Relations to produce professional slide decks for debt investors and respond to investor questions appropriately;
• Provide input to Credit Rating agency meetings and analyse their methodologies to help senior management take decisions that could improve the bank’s credit ratings;
• First line of defense for collateral pledged to the Banque de France’s 3G pool and SFH covered pool.
• Management of HBCE’s Covered Bond Vehicle, SFH.

Regulatory relationships :
Own the relationship with regulators on all aspects relating to SFH and Loan Collateral Management, including coordination and oversight of Banque de France audits.

Governance committees :
Ensure appropriate governance in place to support ALCO and its sub-committees, notably the SFH and Loan Collateral Management committees, ensuring senior stakeholders are provided with the appropriate level of business partnering, analysis and advice;

• Maintaining high reputational standards for HSBC, and the regulators’ trust in HSBC practices
• Provide timely and accurate analysis on the liquidity and funding position of the bank
• Provide timely and accurate reports to the regulatory bodies, ensuring quality standards are met
• Contribute to the bank’s P&L optimization through an efficient funding strategy
• Continually drive efficiency and effectiveness within the team utilizing low cost locations and eliminating wastage.

Customers / Stakeholders :

• The ALCM team interfaces with almost every part of the bank including MKTY, Market Risk, Strategy, ALCO, the business lines, Legal, Investor Relations, Group Treasury, Debt Capital Markets (DCM), Operations, etc.;
• Direct face off to regulators and external auditors on matters relating to SFH and Loan Collateral Management;
• Close collaboration with Operations and MKTY on Loan Collateral Management topics, as well as liaising with BRCM teams across the bank;
• Close collaboration with Debt Capital Markets, Investor Relations, Group Funding, Balance Sheet Management and Legal on debt issuances;
• Work closely with the Reporting and Ops team on the interpretation and implementation of new regulation and policies, where relevant;
• Successful delivery of reporting to the ECB, the PRA and other regulators and acknowledgement of ownership and responsibility for the quality of the data reported
• Customer satisfaction of the Legal entity head of ALCM and Group ALCM
• Ensure understanding and dialog with relevant stakeholders within the business lines on liquidity and funding matters

Leadership & Teamwork :

• Full collaboration with the wider HBCE ALCM team and HBCE Balance Sheet Management;
• Collaboration across ALCM and Global Finance with a culture of ‘One Team’;
• Values diverse cultures and contributions, drives high standards of delivery in others;
• Good understanding of new ALCM reporting requirements, communication and resolution of issues in a timely manner.
• Early identification and timely remedial action on issues arising
• High quality, timely deliverables are produced

Operational Effectiveness & Control :

• Ensure liquidity risk management is aligned to Group Treasury FIM policies, as appropriate;
• Ensures procedures are designed effectively and operate robustly such that they meet internal and external audit and regulatory expectations;
• Anticipate, identify and mitigate operational risk in an appropriate, cost effective manner;
• Adhere to the organisational design principles for Global Finance such as span of control, banding and matrix reporting;
• Ensure that activities and processes are embedded into the ALCM operational risk frameworks.
• Participation in Operational Risk Assessment carried out as appropriate;
• Maintain costs within or below agreed budget;
• Demonstrated using well-designed operating metrics in an efficient and transparent manner;
• Audits demonstrate compliance with internal policies and procedures.

Major Challenges :

• HSBC is a Global Systemically Important Bank (G-SIB) and as such faces significant scrutiny from its regulators with regard to all aspects of liquidity risk. Regulatory expectations of the bank’s management of liquidity risk are constantly increasing (e.g. new expectation to perform daily liquidity stress testing and ability to monitor maturity ladders on a daily basis);
• The role holder will need to be able to manage constantly changing priorities and keep the team motivated and performing to the required level under increased regulatory scrutiny in a cost-constrained environment.
• The role holder will need to be able to continue to continue to operate effectively in a liquidity crisis situation.

Role Context :

• The ALCM team interfaces with almost every part of the bank including MKTY, Market Risk, Strategy, ALCO, the business lines, Legal, Investor Relations, Group Treasury, Debt Capital Markets etc.;
• The role holder will face off directly to regulators and external auditors on matters relating to funding management;
• The role holder will be accountable for managing funding aspects of HBCE in line with both internal risk appetite and regulatory requirements;
• The role holder will oversee a period of significant change within the team as both the internal structure of the bank and the external regulatory requirements continue to quickly evolve;
• Excellent collaborative skills, technical knowledge and a proven ability to embrace diverse cultures will be necessary to be successful in this role;
• Given the challenging regulatory environment, this role is highly demanding.

Management of Risk :

• The primary purpose of the role is to manage liquidity and funding risk of HBCE, so a strong risk management mindset is at the heart of this role;
• The role holder will continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings and the impact of new technology. This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring and by addressing any areas of concern with line management and/or the appropriate department.

Observation of Internal Controls :

• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with the Head of Compliance and Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will be achieved by adhering to all relevant processes/procedures and by liaising with the Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
• By adhering to the bank’s agreed processes/procedures – achieving a satisfactory Audit report.

Role Dimensions :

• The HBCE Balance sheet is approximately USD 220bn in size. Complex balance sheet structure covering all business lines, with a heavy focus on Global Markets.
• HBCE has a reliance on wholesale funding, hence a heavy focus on debt issuance activities that is not generally the norm in other HSBC sites.
• Significant interaction with local French regulators. Excellent communication skills (written and oral French) are required.

Knowledge & Experience / Qualifications:

• Experienced financial services professional
• Qualification through a business school, legal training, university or professional accreditation
• Strong Finance and ALCM practitioner/Treasury experience or legal background desirable;
• Experience of delivering to multiple internal and external stakeholders such as external auditors, regulators, audit committees, businesses, etc. and ability to successfully navigate a matrix structure;
• Good attention to detail, ability to understand and read legal texts, ability to execute relevant processes smoothly
• Ability to manage multiple and, at times, conflicting objectives, prioritising effectively. Ability to respond appropriately to constantly changing priorities;
• Commercially minded and ability to make decisions in a timely manner, delegate to others;
• Good understanding of when and how to escalate issues;
• Excellent all-round communication skills, including in an international context; Excellent written English required; Strong written and oral French required for interactions within HBCE and with local regulators (Banque de France);