Counter; OTC Derivatives Trade and Transaction Reporting Lead

In compliance with applicable laws, HSBC is committed to employing only those who are authorized to work in the US. Applicants must be legally authorized to work in the U.S. as HSBC will not engage in immigration sponsorship for this position.

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.

You will manage the OTC Derivatives Trade and Transaction reporting team, focusing on swaps (CFTC) and security-based swaps (SEC) rules.

• Ensure HSBC is in compliance with CFTC, CSA, and SEC Securities-based Swap Dealer regulations by thoroughly understanding the regulatory reporting rules and environment
• Provide leadership and guidance to develop and strengthen regional OTC Derivatives Trade Reporting team in day-to-day operations and controls supporting Trade and Transaction Reporting (CFTC, CSA and SEC Securities-based Swap Reporting)
• Manage the governance framework and controls around trade and transaction reporting
• Support the implementation and management of controls and governance framework and streamline processes around Trade and Transaction reporting across the different regions
• Maintain oversight of forthcoming regulation and associated impacts on trade/transaction reporting
• Play a key role in facing regulators (CFTC, NFA, etc.) and providing response to trade reporting regulatory exams and inquiries
• Supervise regular meetings and reporting to/with all stakeholders to keep them up to date and ensure expectations are met/managed
• Be responsible for managing the delivery of all regulatory operational changes for swaps and swaps-related regulations, and associated regulatory initiatives where it relates to trade and transaction reporting
• Assist in managing the delivery of all global operational changes related to OTC Derivatives regulations (CFTC, CSV and SEC SBSR)
• Work with Operations Regulatory Project Managers responsible for other global regulation (EMIR, HKMA, etc.), as appropriate, to ensure global compliance and process consistency where possible

• Extensive experience in derivatives or regulatory compliance
• Demonstrates an excellent understanding of CFTC, CSA and SEC Securities-based Swap Dealer trade reporting requirements in the financial market
• Detailed knowledge of individual G20 regulations as applied to the trade reporting and operations functions; working knowledge of local regulations in key markets and knowledge of key sources of regulatory updates and guidance; knowledge of securities and other financial instrument reporting a plus
• Able to converse on complicated regulatory issues or changes and engage with the key stakeholders in order to resolve regulatory reporting issues
• Project Management experience
• Minimum of a BA/BS degree
• Strong supervisory/managerial and organizational skills
• Assertive with strong influencing skills to be able to work with the industry, global Operations, Regulatory Compliance, IT and the Front Office effectively
• Ability to set objectives and develop junior staff members
• Strong understanding of operational risk, procedures and controls as well as of front to back trade lifecycle

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 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.

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