Job Description

Job Title: TFCM Associate

Purpose of the role

The Trading Facilities and CCP Management (TFCM) team has been created to recognise the interconnected nature of the execution and clearing landscape across all asset classes. The purpose of this centralised team is to provide consistent global oversight and governance across all intermediaries related to trade execution and clearing, encompassing: Trading Facilities (Brokers, Trade Venues, Exchanges), Clearing Brokers and Central Counterparites (CCPs).



The team provides a holistic view of the risks towards these critical intermediaries, whilst optimising the business operating model and managing the associated costs.


The team's responsibilities which cover all Trading Facilities, Clearing Brokers and CCPs globally, include:

Maintaining the global approved lists Ongoing due diligence reviews and monitoring Governance of any new relationships Oversight of all credit limits towards CCPs and Clearing Brokers (and Trading Facilities where relevant) Active participation in global industry and regulatory forums

Working with other departments towards further developing HSBC's CCP and Clearing Broker risk framework


The team is also responsible for running the governance committees overseeing these intermediaries.


The main focus for this role is on assisting with all aspects of our interaction with Clearing Brokers and CCPs.

In this role, you will:

Clearing Brokers and CCPs:

Assist with conducting due diligence reviews of all CCPs that HSBC accesses, directly or indirectly, on a regular basis. Where access is indirect, assist with the relevant Clearing Broker due diligence review. Ensuring due diligence reviews are consistent by applying the approved benchmarking process. Support the management of the schedule of Clearing Broker and CCP Due Diligences. Assist in the build out of the continuous monitoring process - CCP rulebooks and consultations. Assist with the management of Clearing Broker/CCP credit limits, relevant exposures and investigate breaches. Support co-ordination of participation in CCP risk management working groups, Default Management fire drills and risk committees. Support to produce packs and minutes for the Global/Regional Markets Clearing Steering Committee. Assist with the maintenance of the global inventory of CCP relationships. Assist with the sourcing and collation of data for disclosures to CCPs or Regulators regarding our internal clearing risk management practices and exposures. Support enhancements and system migration on CCP/Clearing Broker due diligence process.

To be successful you will:

An understanding of clearing and the elements of CCP risk management frameworks would be beneficial. A willingness to learn about the Markets and Securities Services businesses, cross asset-class and cross-region. Strong interpersonal skills and the ability to work well within a small team. Excellent communication skills, both verbal and written, are essential. Sound analytical skills are essential, coupled with the ability to demonstrate forward thinking.

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You'll achieve more at HSBC

HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role."



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