VP/Director, Asset Backed Securities Flow Trader

Permanent contract|Hong Kong|Corporate & Investment banking

VP/Director, Asset Backed Securities Flow Trader

  • Hong Kong, Hong Kong
  • Permanent contract
  • Corporate & Investment banking

Responsibilities

  • To support the team’s efforts in effectively covering Distribution and Credit Solutions desk by trading and modeling relevant securities structures

                o Maintenance tradable universe of securities, and their key characteristics

                   (rating, subordination, equity interest rate risk etc)

                o Market making in all APAC ABS, and selective activity outside this universe

                   (European and US ABS, collateralized loan obligations, non-investment grade securities)

                o Send out daily runs, market comments and inventory to clients.

  • To support the team’s efforts in managing the desk position and support securities financing desk through pricing/marking

                o Monitoring of broker runs / third party data to benchmark SG prices.

                o Provide prices for the financing activity.

                o Monitoring the IPV process/end of month

  • To support the team’s efforts in the development of the DCS franchise

                o Use runs and trade ideas to generate “out of competition” client requests.

                o Start Participating to client meetings.

                o Monitoring of hit ratios and pass ratios.

                o Close interactions with DCS sales in addition to MARK Global sales force

  • Responsibility over APAC DCS ESG objectives to meet the bank overall trajectory. Ensure dedicated ESG objectives reflecting the DCS ESG roadmap are properly assigned within Trading and that appropriate ESG trainings are implemented as needed within the team. In line with GLBA strategy on ESG, integrate the client CSR strategy in particular in focusing on advisory and/or origination of transactions related to energy transition and other ESG key topics. Support the coverage and bankers in deployment of ESG solutions leveraging on sectorial expertise and dedicated financing solutions being developed.


  • To manage the desk position through hedging the various risks (spreads, recovery, correlation etc.)

                 o Hedging inventory book versus market moves using liquid indexes.

                 o Common hedging strategy with the US/EMEA platform

  • To support the development of the ABP client base in line with GLBA’s and SG Group’s strategy and priorities

                 o Connectivity with sales and clients

                 o Monitoring of clients active in securitization (ABS, Collateralized Loan Obligations, Residential Mortgage-Backed Securities, Commercial Mortgage-Backed Securities, etc.), across the capital structure

                 o Develop in depth relationships with the more active / professional investors.

  • To support Distribution and Credit Solutions, in particular Trading, in internal dialogues with colleagues to provide best-in-class advisory to the client base.

                 o Connect with financing team to develop a common approach with clients.

                 o Connect with leverage loans team to strengthen DCS offer.

  • To monitor risk metrics and limits and optimize the Scare Resources of the desk.

                 o Monitoring all Risk Metrics and limits related to the Trading desk.

                 o Connect with all internal production teams.

                 o Optimization of Funding and regulatory gap (Liquidity Coverage Ratio and Net Stable Funding Ratio)

                 o Monitor and provide simulation of New Regulation impact on the Trading desk (Capital Requirements Regulation, Risk Weighted Assets, etc.)

Profile required

  Technical:

  • Ability to gather an understanding of complex credit structures, their dynamics, and the related instruments, including credit and rates derivatives to trade relevant capital markets products, with a particular focus on asset-backed products, markets, and regulations.
  • Ability to model exotic credit derivatives in a trading floor environment.
  • Responsibility – awareness and understanding of risks (conduct, reputational, financial, etc.) for ABP, GLBA, and SG Group, and ability to act responsibly in line with SG Group Values, Code of Conduct, and other applicable rules & regulations.

Behavioral: 

  • Client orientation – ability to contribute to the team’s efforts to build and maintain trusted client relationships.
  • Client orientation – consistency and rigour in following up on clients’ needs.
  • Client orientation – demonstrate discipline and team collaboration to develop business adapted to clients’ and markets’ needs.
  • Innovation – commitment to contribute to the team’s efforts to the development of new client base, advisory, and products.
  • Team spirit – ability to work with people with diverse, international backgrounds.
  • Commitment – ability to priorities tasks and to manage competing deadlines, and to deliver on team’s priorities.
  • Communication skills – including language skills (as relevant)

Business insight

Company Description:

Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale seeks to build together with its clients, a better and sustainable future through responsible and innovative financial solutions. Active in the real economy for over 160 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 126,000 employees in 65 countries and supports 25 million individual clients, businesses and institutional investors worldwide (figures as of January 2024). We have a presence in 11 locations across Asia Pacific. With our regional headquarters in Hong Kong – a core hub of the worldwide Societe Generale Group – we employ around 2,200 employees in the region. In addition, Societe Generale's Global Solution Centre (SGGSC) in Bangalore and Chennai supports the Group in Asia Pacific and globally with customized business solutions.

Department Description:

  • Distribution & Credit Solutions (DCS) is a joint venture between GLBA and MARK. This joint venture combines the bank capabilities in the credit space integrated in Credit Chains working closely with Origination and Credit Portfolio Management to derisk the bank in primary (Syndication) and secondary (Trading) and pursue Fund Financing and Securitization activities for clients of the bank (corporates, financial institutions, fund managers) leveraging a unified Credit Sales team.
  • DCS Credit Trading covering flow, structured credit and loans with their respective financing under a unified credit trading books under MARK supervision (policy and procedure) in the 3 regions (Europe, Amer, APAC).

We are an equal opportunities employer and we are proud to make diversity a strength for our company. Societe Generale is committed to recognizing and promoting all talents, regardless of their beliefs, age, disability, parental status, ethnic origin, nationality, gender identity, sexual orientation, membership of a political, religious, trade union or minority organisation, or any other characteristic that could be subject to discrimination.

Reference: 24000HDZ
Entity: Societe Generale Hong Kong Branch
Starting date: 2024/08/01
Publication date: 2024/06/28
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