IBOR Structured Notes PM

Job Description

HSBCJob Title:IBOR Structured Notes PMLocation:LondonContract length:Till AugustPay rate: £843.92 UmbrellaOur client HSBC are currently seeking an experienced IBOR Structured Notes PM to join their team in the London office/Hybrid working, this contract will be for 6 months with a review to be extended.IBOR transition is one of the key transformation challenges for the financial industry and impacts all regions in which HSBC operate and the wide range of clients we provide products and services to.On 27 July 2017, the Chief Executive of the UK Financial Conduct Authority (FCA) announced that the FCA did not intend to persuade or compel banks to submit rates for the calculation of LIBOR after 2021. Since then, regulators, national working groups andmarket participants have focused on how the market can transition away from LIBOR to alternative RFRs within this timeframe.In its Interim Financial Stability Report published in May 2020, the Bank of England emphasised, considering recent market volatility, the continued importance of the transition away from LIBOR.Regulators recognise that the transition is complex. The actions of market participants during, and in managing, the transition could impact the effectiveness of the derivatives, loans and bonds markets. Uncertainties associated with the transition may makeit harder for firms to identify how to treat their customers fairly, and to demonstrate that they have done so. Moreover, it is important to note that adverse client or market outcomes may arise through no fault of the market participant.In highlighting these uncertainties, and the steps that market participants could take to manage such uncertainties, HSBC aim to achieve a fair and effective transition from LIBOR benchmarks.The MSS IBOR Transition Programme has been set up to manage the transition across products and regions globally for HSBC. This is coordinated across both Corporate and Institutional Sales for Fixed Income products. The Structured Notes Project Managerrole is based within the Trade Migration ProgrammeKey knowledge and experienceStructured notes experience a mustComplex project experienceResilienceTrading and governance backgroundStakeholder management experience Product knowledge , understanding trade flows and front officeFinancial sector backgroundManage the reporting , risk , costing 5 years industry experience around structured notesYour responsibilities will include:End to End orchestration of the transition of USD Libor referencing Structured Notes to RFR products by Jun 2023Driving transition strategy & outreach approach with various senior stakeholders including Global Head of FI Structuring, Fixed Income COO, Regulatory Compliance and MSS LegalDrive and develop any required Client or Sales transition guide/ training materialsEnsuring all Risks and Issues are raised, escalated, and appropriately managedDeliver programme progress updates/ reporting to the MSS Transition Execution Board which oversees the Trade Migration activities workstreamsEnsure contingency plan is in place to manage Tough Legacy notesSupport the overall Transition programmes priorities as requiredEnsure all Non-Financial risks associated with Notes transition are captured, monitored, escalated and where appropriate mitigating actions/ controls are implementedThe ideal candidate for this role will have:Relevant Fixed Income product knowledge including Interest Rate Swaps, Vanilla Options, Cross Currency Swaps, Structured Notes and SwaptionsStrong Project Management skills within a global markets business and ideally with LIBOR transition projectsA flexible and adaptable attitude, at times will need to assist other transition workstreams as demand/ priority dictatesThe ability to work autonomously as well as across several teams and business lines where necessaryExcellent written and spoken communication skills; an ability to communicate with impact, ensuring complex information is articulated in a meaningful way to wide and varied audiences including senior MSS executivesContributed productively to team objectives, sometimes supporting and sometimes leading activities to achieve shared goalsAn understanding of risk management and ability to ensure own/others compliance with relevant regulatory processesEither apply direct! Or please contact me on via email