Securities Lending Trader, EMEA

HSBC Agency Lending sits within HSBC Securities Services (SSv) as part of our Markets and Securities Services business, supporting leading asset managers, asset owners, banks and broker-dealers. This London-based role focuses on optimising client revenues through agency securities lending across fixed income and cash assets while operating strictly within agreed client mandates and HSBC’s risk and governance framework. You’ll manage day-to-day trading decisions that balance liquidity, term risk and risk-weighted returns in a regulated environment subject to FCA rules, bank guidelines and relevant licensing requirements. Success means delivering strong risk-adjusted outcomes, maintaining a premier-quality client experience and providing clear input into portfolio evaluations and market commentary.

As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.

Manage and optimise an agency lending trading book, allocating inventory predominantly across fixed income and cash to maximise risk-adjusted returns

Deliver against business performance targets including counterparty and market revenue and balance targets using benchmarking and performance tools

Monitor performance versus plan and recommend tactical changes in response to evolving market and business conditions

Identify opportunities to raise cash financing, deploy cash and non-cash liquidity and manage term risk within agreed client mandates

Manage collateral and liquidity considerations including short- and long-term cash liquidity requirements and contribution to target Return on Risk Weighted Assets (RoRWA) outcomes

Provide input into portfolio evaluations and market commentary, reflecting client profiles and investment strategies

Use securities lending and market systems effectively including trading applications, Global 1, custody platforms (GCS/GHSS) and Bloomberg alongside strong Excel capability

Maintain a premier-quality client experience through timely responses and end-to-end ownership of stakeholder queries

Bring strong experience in fixed income agency securities lending trading or closely related markets activity such as secured financing and repo ideally with EMEA market coverage

Demonstrate proven experience identifying and executing revenue opportunities and implementing trading strategies across inventory, collateral and liquidity optimisation

Apply strong capability in securities lending pricing including pricing methodologies and the drivers of demand and market dynamics

Show strong understanding of cash reinvestment and cash management in the context of securities lending

Assess client profiles and investment strategies to optimise risk-versus-return performance within agreed mandates

Build and maintain counterparty relationships across European market participants such as prime brokers, broker-dealers and repo and funding desks

Operate with strong risk management and governance discipline including trading within limits and frameworks and escalating issues appropriately

Partner effectively across wider custody functions including income, settlements and corporate actions to support end-to-end delivery

This role offers the opportunity to shape daily trading decisions that matter to clients and to the performance of the agency lending business. You’ll work across fixed income and cash, with close links to clients, counterparties and internal partners while operating within a strong governance framework. If you want to focus on disciplined optimisation, liquidity outcomes and sustainable revenue generation for clients, this role provides clear scope to make an impact from London.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces - no matter their gender, ethnicity, disability, religion, sexual orientation, or age. We are committed to removing barriers and ensuring careers at HSBC are inclusive and accessible for everyone to be at their best. We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long term conditions or neurodivergent candidates who meet the minimum criteria for the role.

If you have a need that requires accommodations or changes during the recruitment process, please get in touch with our Recruitment Helpdesk:

Telephone: +44 207 832 8500