Job Information
HSBC Associate, Corporate Sales in New York, New York
Description
Corporate Sales is part of HSBC Global Banking and Markets, is responsible for serving corporate clients. As part of Corporate Sales, sales will primarily service the group’s Strategic & Focus clients, addressing their needs through the provision of client relevant products, solutions and deep market insight. This role requires strong client experience in order to develop long lasting trusted relationships whilst improving product penetration and wallet share.
An understanding of the Corporate Sales business, MSS products and clients is therefore essential in this role. Also essential is a deep knowledge of the products that Strategic and Focus clients typically trade; the role holder should therefore be familiar with, foreign exchange instruments and interest rate derivatives.
The primary objective of the role is to manage and develop the revenue and profitability of allocated client portfolios whilst delivering excellent service to address client needs. A constant drive to improve the cost of service delivery will also be a key focus of the role and will require championing key initiatives, such as servicing more transactional needs via e-capability.
Responsibilities of the role holder
Identify sales opportunities that address specific needs for our clients and managing from identification to point of sale and through post trade process
Service a portfolio of Strategic and/or Focus clients, including Transactional clients where required
Manage and develop relationships with transactional clients, including those serviced over e-platforms for flow based business.
Provide day to day sales coverage using the full suite of Corporate Sales offerings and support team members to do the same
Deliver services and solutions that meet client needs and where necessary leverage the bank’s depth of product expertise and Thought Leadership
Develop trusted relationships with clients to drive revenue growth and greater product penetration
Collaborate with other internal stakeholders, including Relationship Managers, Global Payment Solutions (GPS), and Global Trade and Receivables Finance (GTRF) , to service client needs and improve share of wallet
Drive efficiency and profitability by championing adoption and use of relevant service offerings to meet client needs, for example migrating transactional business to the self-service e-capability, coordinating with CRS for more complex balance sheet structuring solutions, or identifying further opportunities for the offshore capability to support Corporate Sales
Manage changes to processes as technology platforms evolve
Work with Corporate Sales team to ensure all activities for their set of Strategic and Focus clients are executed in line with their agreed principles
Work through Corporate Sales for ensuring all Global Service Centre outsourced activities are executed in line with the agreed SLA’s and requirements for servicing clients
Identify and originate cross-sell opportunities (cross-border, Corporate Sales /CRS, and cross-selling the Bank)
Where appropriate and responsibility has been assigned, act as global Sales Captain for specified clients
Grow deep and broad customer relationships to enhance the HSBC franchise and generate value added business
Build and maintain business relationships with clients in assigned area of responsibility
Impact on the Business/Function
Provide Corporate Sales services and capabilities and ensure seamless support for external clients and internal Sales teams
Management of the transaction flow from order through to execution in conjunction with the relevant trading team.
Ownership of the growth of revenue for clients in the Strategic and Focus service tier
Identification and development of new client relationships
Identifies new leads in assigned area and is responsible for developing and tracking a business plan to expand existing client relationships
Develops knowledge of client needs and requirements; coordinates efforts to service client organisations
Ensure effective communication and understanding of the strategic transformation/agenda across key stakeholder groups at a global, regional and country level
Support the growth of the execution capability of the business to ensure delivery of initiatives, with a particular focus on migration of flow transactions to E-platforms
Maintain awareness of the applicable regulatory and business environment: understand audit, tax and legal implications and changes as they affect the customers and the Bank.
Senior escalation point for client concerns
Drive desk analyst activity (where applicable) to deliver the most targeted and relevant material for clients
Makes sales calls and meets with clients to review outlook for assigned market/sectors
Cross sell products within the relevant Asset Class, or within GBM more broadly
Proactively participates in the marketing of assigned product team services
Proactively participates with other salespersons and traders who service accounts
Maintain complete records of client orders and execution
Key driver in delivering trade ideas and relevant and targeted HSBC content to clients
Customers/Stakeholders
Accountable for a portfolio of Corporate Sales Strategic and Focus clients and the revenue they generate
External and Internal Clients: Networks, develops and nurtures client relationships, anticipates and identifies their needs
Internal Collaboration: Develops close and effective working relationships within respective Regions/ Countries/Functions/Global Businesses
External bodies: Builds and maintains relationships with external partners, industry bodies and others to keep up to date with developments
Works closely with Banking Relationship Managers to provide relevant market and product information to build the relationship
Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets
Leadership and Teamwork
Each member of the team is expected to;
Support achievement of the HSBC vision, Values, goals and culture in personal behaviour, actions and decision making.
Take personal responsibility for understanding and agreeing performance expectations, completing the necessary mandatory training and developing the levels of capability and competence needed to be effective in the role.
Contribute to team development, effectiveness and success by sharing knowledge and good practice, working collaboratively with others to create a productive, diverse and supportive working environment.
Operational Effectiveness and Control
Drive the continuing development or transformation of MSS operating model to ensure the business operates increasingly effectively and efficiently and is able to deliver HSBC's strategic goals
Establish and maintain a robust and efficient control environment across MSS to ensure good operational, financial and project management and compliance with HSBC policy and procedures, together with early identification and effective resolution of issues that arise
Lead the development, implementation and maintenance of a global management information, analysis and reporting framework that supports and informs timely and effective business management and decision making at all levels
Drive the definition and embedding of policy and governance frameworks across Global Market to ensure quality, effective risk management and regulatory compliance
Ensure all relevant documentation is in place when presenting information to clients (e.g. Disclaimers, suitability reviews etc.)
Engage with training requirements that are relevant to the role in a way that addresses personal development and enhances input into the control environment. Including, but not limited to, mandatory training as driven by HSBC policies
Operate within the spirit and letter of internal and external regulations, laws, and policies
Ensure line manager and any relevant Corporate Sales stakeholders are aware of any obstacles or issues that may reduce ability to meet deadlines
Establish and maintain a robust and efficient control environment ensuring early identification and escalation of issues that arise and appropriate resolution
Proactively offer solutions to problems. Support the continuing improvement of the processes, structures, capabilities, capacity and infrastructure
Management of Risk
The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation
This will be achieved by consistently displaying the behaviours that form part of the HSBC Values and culture and adhering to HSBC risk policies and procedures, including notification and escalation of any concerns and taking required action in relation to points raised by audit and/or external regulators
The jobholder is responsible for managing and mitigating operational risks in their day to day operations. In executing these responsibilities, the Group has adopted risk management and internal control structure referred to as the ‘Three Lines of Defence’. The jobholder should ensure they understand their position within the Three Lines of Defence, and act accordingly in line with operational risk policy, escalating in a timely manner where they are unsure of actions required
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 relevant processes/procedures
The jobholder will implement the Group compliance policy by adhering to all relevant processes/procedures. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply
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. Through the implementation the Global AML, Sanctions and ABC Policies, supporting Guidance, and Line of Business Procedures the jobholder will make informed decisions in accordance with the core principles of HSBC's Financial Crime Risk Appetite
The jobholder will adhere to all relevant processes and procedures including information barriers and confidentiality requirements. Adherence to the control of information procedures, including compliance with the need to know policy, is key, in particular where the jobholder has direct management oversight of individuals on the private side of the GBM Origination Chinese Wall.
For this role, HSBC targets a fixed pay range between $125,000 and $150,000.
The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.
At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.
Qualifications
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.
Analytical aptitude in accordance with demands of the role (size of the organization, business knowledge process, compliance/risk nature of the function, intensity and diversity of change, competitive landscape for resources)
Strong understanding of the Corporate Sales business, its products, clients, systems and key processes
Good understanding of Capital Markets, covering foreign exchange instruments (Spot, Options, Swaps, Forwards and Futures) and interest rate derivatives and an ability to understand & manage a diverse and sometimes complex, product set
Hold relevant exams and qualifications to satisfy local and any cross border market regulations for non-advisory sales and trading activities
Where applicable, experience managing a team with clear competencies in people & development, performance management, and high quality execution
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, diverse 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. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!
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All qualified applicants will receive consideration for employment without regard to age, ancestry, color, race, national origin, ethnicity, disability or medical condition, genetic information, military or veteran service, religion, creed, sex, gender, pregnancy, childbirth, caregiver status, marital status, citizenship or immigration status, sexual orientation, gender identity or expression or any other trait protected by applicable law.
Job Field: Investment Banking, Markets and Research
Primary Location: North America-United States-New York-New York
Req ID: 0000K21O