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Global Regulatory Policy Advisory (‘GRPA’) is responsible for establishing HSBC’s Group level, and certain regional level, prudential regulatory capital policies, and for advising business lines on the impact of these policies on transactions and new products. GRPA acts as a Second Line of Defence and provides technical regulatory capital support and guidance to functions and businesses on a full range of transactions and prudential regulatory capital issues, including the establishment of interpretations and governance processes to mitigate regulatory risk. GRPA also monitors new rule developments and other ongoing changes to the prudential regulatory capital landscape. GRPA covers key aspects of prudential policy, including risk weighted assets (RWAs), capital resources, Liquidity ratios, and leverage ratios, across all relevant risk areas e.g. credit risk, counterparty credit risk, securitization, and Credit Valuation Adjustment (‘CVA’). GRPA currently maintains a presence in key locations across HSBC, including the UK, Hong Kong, the US, France / EU, Mexico, and India / Middle East.

This position provides an opportunity to join the US GRPA team as a technical subject matter expert with a focus on providing policy guidance on the new Credit Valuation Adjustment (‘CVA’) capital requirements within the US Agencies’ proposed adoption of the ‘Basel III Endgame’. Specifically, the role will lead on the analysis and interpretation of the new CVA rules in the US, with an expected emphasis on all aspects of the both the Basic CVA approach (‘BA-CVA’) and the Standardized CVA Approach (‘SA-CVA’). The role will be based in New York City, however qualified candidates based outside of the New York City area may be considered.

As our Regulatory Policy Manager - Credit Valuation Adjustment you will:

Track new policy developments and formulate HSBC’s regulatory capital policies accordingly, providing detailed, actionable guidance, distributed to a wide range of stakeholders. The US GRPA team is responsible for monitoring new developments impacting the US prudential regulatory capital regime, as administered by the US Agencies - the Federal Reserve, OCC, and FDICProduce and review regulatory opinions on complex transactions and new products to ensure compliance with Group regulatory policiesProvide technical support and guidance to internal colleagues across all businesses and functionsProvide technical support on the implementation of new regulatory requirementsDrive HSBC’s response to future regulatory developments and influence the external development of regulatory policy by writing public responses to new proposed standards and discussion papersThe CVA Regulatory Policy Manager will be responsible for leading on the development of a full library of policy interpretations which lay out HSBC’s approach to aspects of the US CVA rules which may be silent or ambiguous

For this role, HSBC targets a pay range between $148,300.00 and $240,000.00.

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.