The Principal Desk exists to
provide Securities Lending & Financing as well as FX execution services to
our clients, which are considered as value added products to accompany global
custody, fund administration and middle office outsourcing.
Principal securities lending encompasses the provision of fail coverage
services to local custody clients and opportunity lending to the investment
bank and broker dealer community.
Securities financing / Repo comprehends the optimization of the cash
available from ALM in accordance with the Group collateral policy.
The Hong Kong desk forms part of a global principal lending offer, with
other desks in Paris and London.
The other FX execution desks are located in Sydney, Paris and New York.
Purpose of Position
The purpose of the role is to maximise profit from securities lending, financing and
FX execution within the business and regulatory framework.
- Borrowing and lending equities on the
following markets; Japan, Hong Kong, South Korea, Australia, Singapore,
Thailand, so as to maximise P&L for the desk.
- Borrowing & lending bonds (Asian
and non-Asian) so as to maximise P&L for the desk.
- Lend equities to fail coverage clients in local custody, to assist in settling their market trades.
- Optimising ALM available cash
positions in all currencies (via Financing or Repo trades).
- Re-rating lent securities and cash positions when terms of the deal
- Following the launch of the FX execution
capacity, service existing relationships with clients.
- Ensuring that all activities are
carried out in accordance with regulatory and business requirements.
- Constant check on credit risk and
respect limits allocated to the activities.
- Pushing the diversification of trading
strategy for the Principal products.
- Maintain and develop strong working
relationship with counterparts and also beneficial owners. Plus, promote/market
the desk externally and internally (market colour…)
- Adapting to changing regulations.
- Act as an escalation point for
Corporate Action and Operational issues.
- Monitor fund holdings of
exclusive clients to maximise securities lending opportunities.
- Monitor withholding tax rates on
respective markets and adjust trading where necessary.
- Ensure effective co-ordination of trading / pricing with other Principal desks in Paris and London.
recalls as a result of client sales within standard settlement cycles.
- Booking returns
from borrowers and returning to lenders when and where applicable.
- Risk Analysis; where applicable, simulate trades versus credit lines in Risk Navigator and monitor credit line usage versus trading counterparts and exclusive clients.
- Co-operate with Business Development, credit and legal and monitor the process of client on-boarding with client integration.
desks (Equities, STIR & FX) in Sydney, Paris, London and New York
– Market & Counterparty Risk (MCRA) and Risk IM
– Settlements, Exposure, Statics, Billing, Reconciliations
Action & Income
Lending counterparts – Investment banks, broker-dealers, etc.
coverage clients in the fail coverage programme
bodies (where applicable)
/ Mandarin speaker
and numerical skills
to develop trading ideas
to work under pressure in a small enclosed team environment
experience of the securities lending market
to advanced excel (macro) and powerpoint
Primary Location: HK-Hong Kong (HK)-Hong KongJob Type: Standard / PermanentJob: FINANCIAL AND TECHNICAL EXPERTISEEducation Level: Bachelor Degree or equivalent (>= 3 years)Experience Level: At least 3 years
Behavioural competency: Ability to collaborate / Teamwork, Ability to deliver / Results driven, Proactivity, Client focused, Communication skills - oral & writtenTransversal competency: Ability to develop and adapt a process , Ability to conduct a negotiation, Ability to develop and leverage networks, Ability to anticipate business / strategic evolutionReference: BNP018536