Think jobs at HSBC in Singapore, think jobs in private banking and wealth management. As part of a broader plan to expand in Asian wealth management, HSBC is adding more than 400 Singapore-based retail and private banking employees (such as relationship managers) between 2018 and 2023.
But while wealth vacancies do dominate current Singapore-based openings at HSBC, our analysis of the bank’s careers site highlights interesting roles in other fields that may have escaped your attention. Moreover, these jobs suggest some of the areas that Philip Lee, HSBC’s new Southeast Asia vice chairman for global banking (the division that includes teams such as investment banking, markets, and transaction banking), is likely to focus on in the months to come. As we reported last week, HSBC wants to expand in Singapore beyond wealth management under Lee’s leadership.
HSBC is, for example, competing with other banks and tech firms in Singapore to hire data scientists. As we noted in August, it has taken on Shuguo Han from BNY Mellon into a data science role in its Singaporean innovation lab. Now HSBC is recruiting for a senior data scientist in global liquidity and cash management (GLCM), part of the global banking and markets (GBM) division. If you land this job, you’ll be identifying new-use cases for data science for customers and employees, as well as designing and communicating data science solutions.
Meanwhile, HSBC is looking for a senior client experience manager to join GLCM, a team which is starting to shred its unglamorous image as it expands and becomes more critical to the bank’s business in Asia. Revenues in GLCM were up 12% to $1,387m year-on-year in the first half of 2019, according to HSBC’s H1 financial results. As we reported last month, experience in cash management will also make you in demand at firms such as Citi and Standard Chartered.
HSBC is expanding in the other subset of transaction banking, global trade and receivables finance. It wants, for example, a senior product manager to drive the “commercialisation plans for new or enhanced products”. But you can’t be a product expert in another area of banking to land this job – trade finance experience is a must. HSBC is also hiring a business development manager for trade finance, further suggesting that it’s looking to grow that side of its operations in Singapore.
Within corporate banking, one of the more interesting HSBC vacancies is for a manager of middle market leveraged finance. You’ll be working with the financial sponsor execution deal team to structure and execute credit facilities for proposed leveraged and acquisition finance transactions across Asia. And you’ll be preparing detailed client plans, pitch books, term sheets, industry reports, financial models, pricing proposals, and credit proposals.
HSBC is strengthening its middle office in Singapore, and is looking for a local head of resilience risk, overseeing risk management in areas such as information security, corporate security, systems, and data and transaction processing. While you’ll naturally need “extensive experience” in resilience risk this can be from any “global organisation” rather than just a bank.
Away from banking, HSBC is bulking up its Singapore-base insurance team and has several insurance openings, including actuarial, underwriting and claims, operations and legacy planning jobs.
Photo by Shawn Ang on Unsplash
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