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About the Role

This role sits within the XVA Trading desk, managing EM Rates discounting and basis risk across CEEMEA and LATAM as part of Global Macro. You’ll execute trades that protect the bank’s risk position while supporting revenue, hit ratio and return targets set by management. The role includes clear accountability for discounting-related P&L and high-quality, consistent P&L attribution across curve and basis moves, carry and roll and market events.

Responsibilities

Execute trades to manage EM derivatives discounting risks across CEEMEA and LATAM within the XVA Trading desk
Maintain discounting and basis risk positions within risk appetite and desk limits
Coordinate global EM discounting risk and P&L management with Hong Kong and Americas trading teams including robust time-zone handovers
Support delivery of revenue, hit ratio and return targets with accountability for discounting-related P&L
Provide clear, consistent P&L attribution across curve and basis moves, carry and roll and market events
Price trades for sales and clients in line with bank policies ensuring consistent discounting assumptions and appropriate risk transfer with XVA
Book trades accurately in front office systems in line with internal policy and regulatory requirements
Perform lifecycle and risk-reduction activities within remit including supporting or executing FX compression and optimisation exercises

Requirements

Bring relevant experience in Rates and/or XVA trading or risk management with strong knowledge of derivatives discounting and basis dynamics
Apply working familiarity with broader XVA drivers and explain day-to-day P&L drivers clearly and credibly
Demonstrate understanding of EM market structure and liquidity across CEEMEA and LATAM including practical hedging considerations
Show capability in managing complex instruments relevant to discounting and basis risk management
Communicate effectively in writing and verbally including clear risk management and P&L explanations
Partner effectively across time zones including with Hong Kong and Americas stakeholders
Apply structured problem-solving and decision-making in a front-office risk environment
Demonstrate experience supporting risk reduction or optimisation initiatives such as compression, tear-ups or back-to-back risk transfers

Experience Level

experienced professional

Benefits

private healthcare for all UK-based employees
enhanced maternity and adoption pay and support when you return to work
a contributory pension scheme with a generous employer contribution

About the Company

We’re one of the largest banking and financial services organisations in the world, with a network that covers more than 50 countries and territories.
We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people fulfil their hopes and realise their ambitions.

Equal Opportunity

Being open to different points of view is important for our business and the communities we serve.
At HSBC, we’re dedicated to creating diverse and inclusive workplaces - no matter their gender, ethnicity, disability, religion, sexual orientation, socio-economic background or age.
We are committed to removing barriers and ensuring careers at HSBC are inclusive and accessible for everyone to be at their best.
We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long term conditions or neurodivergent candidates who meet the minimum criteria for the role.
If you have a need that requires accommodations or changes during the recruitment process, please get in touch with our Recruitment Helpdesk via hsbc.recruitment@hsbc.com.