Vice President, Hedge Fund Credit Approval

HSBC • New York, NY

53d

About The Position

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.
Our purpose – Opening up a world of opportunity – explains why we exist. Here at HSBC, we use our unique expertise, capabilities, breadth, and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world – for our customers, our people, our investors, our communities, and the planet we all share.

The Vice President, Hedge Fund Credit Approval manages credit risk and provides decisioning, exercising delegated credit authority for credit exposure arising from new and existing clients. Ensures appropriate lending structures and controls are in place to handle inherent and unique risks in reviewed transactions. Consults with businesses regarding appropriate credit facility structuring to meet Company standards, regulatory guidelines and client needs. Reports to Sector Head.

Requirements

• Experience in the Markets area, credit, lending and/or workout areas or equivalent with focus on trading counterparties and asset-backed borrowers
• In-depth knowledge of businesses supported, their credit products and pertinent US regulations affecting the extension of credit to them
• Demonstrated ability to identify, evaluate and discuss credit risk in new, unusual or complex proposal structures
• Strong analytical, planning, mathematical, problem-solving, communication, financial, technical, interpersonal, and diplomatic skills
• Intellectual curiosity, supporting the ability to demonstrate balanced judgment in timely decision-making and the ability to manage conflict
• Minimum of a bachelor’s degree in business, finance, related field or equivalent experience
• Credit training or equivalent experience

Responsibilities

• Participate with lenders and management of various debt teams, ensuring responsiveness, meeting portfolio exposure targets, minimizing credit costs, and maintaining and acquiring profitable and prudent credit exposures
• Analyze and evaluate client’s business model (including guidance to deal teams on credit underwriting), financial performance, management, industry research (including micro/macro economic factors), and forecast business plans
• Review, recommend, and approve individual credit limits within assigned authority for large and complex loans involving the Company’s and Group’s customer base, ensuring adherence to all applicable credit approval policy and procedures
• Ensure ongoing credit quality through portfolio management tasks including timely risk ratings and remediation actions, where applicable
• Assure compliance with Bank Credit Policy and risk appetite guidelines as well as adherence to all Regulatory requirements and controls
• Be responsible business unit RM’s and senior management
• Guide evaluation, underwriting, and structuring of complex credit proposals or those requiring close scrutiny. Identify potential risks within the company and provide mitigating solutions. Provide immediate attention & guidance to deteriorating situations
• Foster a collaborative relationship with the business, working together to address the client’s needs while assuring the risk profile remains within the Bank’s credit appetite
• Provide guidance, training, and expertise on the credit approval process and structuring of loans as required
• Train junior staff
• Participate in development and implementation of credit policies and procedures for assigned areas of the Company to ensure credit process integrity and prudent management of overall credit quality. Develop and recommend strategies for problem credits in compliance with credit policy to optimize value
• Implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators
• Evaluate risk and arrive at prudent credit decisions when faced with complex corporate and lending structures (including across both domestic and multinational jurisdictions), involving an understanding of strong commercial business fundamentals, confident analytically driven judgments, supported by a high level of intellectual curiosity
• Make autonomous, prudent credit decisions under tight time deadlines
• Maintain a collaborative relationship with business units to achieve growth goals and maintain credit quality
• Demonstrate “Courageous Integrity” at all times, taking responsibility to escalate issues so as to ensure the Company maintains the highest standards for Compliance and Risk Management
• Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues
• Ensure all credit facilities are properly risk rated (including timely downgrading/ ugrading) and data integrity is maintained at all times
• Maintain HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators
• Implement the Group Compliance policy locally by managing compliance risk in liaison with the Head of Group Compliance, Regional Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources are in place and training is provided, fostering a compliance culture and optimizing relations with regulators

Benefits

• 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 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees