Job Description

Some careers open more doors than others.

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

International Wealth and Premier Banking (IWPB) helps deliver on HSBC’s purpose of opening up a world of opportunity by providing our customers with borderless banking and world-class wealth management through best-in-class, mobile-first capabilities, and exceptional people. Our international network and breadth of expertise enable us to support individuals, families, business owners, investors, and entrepreneurs. International Wealth and Premier Banking provides a leading premium proposition through Premier Banking and, together with our Private Bank, are present across the world’s most important markets, booking centres, and corridors most valued by our clients. Our wealth offering is further enhanced through our best-in-class manufacturing capabilities in Asset Management and Insurance.

We are currently seeking a high calibre professional to join our team as a Head of Asset and Liability Management (ALM).

Ready to shape strategic ALM and hedging across HSBC Life?

Why HSBC

HSBC is one of the largest banking and financial services organisations in the world. Guided by our purpose of opening up a world of opportunity, our ambition is to become the world’s most trusted bank globally, putting customers at the heart of everything we do.

The Role

As Head of Asset and Liability Management (ALM) you’ll set the strategic direction for ALM and balance-sheet optimisation across HSBC Life reporting to the Global Head of ALCM, Global Insurance. ALM underpins long-term sustainability for returns to shareholders and policyholders and this role is central to how we manage risk capacity and financial outcomes across our insurance businesses. You’ll provide global oversight across five separately regulated jurisdictions - Hong Kong, Singapore, China, Mexico and Bermuda - partnering closely with Risk, Investments, Actuarial and Finance at Group and local levels. Success means stronger ALM practice and culture, more consistent modelling and governance, and clearer insight into balance-sheet risk drivers under IFRS 17, economic and local solvency regimes. You’ll also shape strategic hedging opportunities and support execution planning with key internal partners and external providers.

What you'll be doing

• Shape the ALM strategic framework and community across HSBC Life
• Align ALM strategic priorities across Actuarial, Finance, Risk and Investment functions at Group and local levels
• Oversee Group and local ALM teams in refining ALM models and strengthening hedging capability
• Identify key balance-sheet risk factors and evaluate strategic hedging opportunities across IFRS 17, solvency and economic views
• Oversee reviews of ALM exercises including assessment of Strategic Asset Allocation (SAA) and systematic hedging strategies supporting SAA
• Manage delivery of Group ALM Risk Monitoring management information (MI) and associated implementation activity
• Advance ALM optimisation across IFRS 17 and local solvency regimes including new RBC regimes in Singapore and Hong Kong and C-Ross2 in China
• Support new product development and new investment initiatives through an ALM lens
• Govern ALM model governance in line with Group Model Risk policy and ALM procedures

What we're looking for

• Bring senior experience in a life insurance company or consultancy in a comparable ALM role
• Demonstrate knowledge of IFRS 17 and local regulatory solvency requirements including CROSS II and regimes in Singapore or Hong Kong
• Evidence experience in derivatives hedging and investments
• Show prior delivery of ALM projects using Prophet and Asset Liabilities Stochastic (ALS) platforms
• Communicate clearly with senior stakeholders across the business and with ALM teams across HSBC Life entities
• Influence outcomes in governance forums at Group and local levels including local ALCO, Group ALCM forum and GI FMM
• Provide a structured approach to project delivery including clear frameworks, content and deliverables and effective stakeholder management
• Apply strong quantitative and analytical skills to interpret complex balance-sheet dynamics and explore new hedging approaches
• Collaborate effectively with international and virtual teams and coordinate work across functions and external partners

Building HSBC Life’s ALM Strategy

This is an opportunity to shape how HSBC Life manages balance-sheet risk and long-term value across multiple regulated markets. You’ll work across Group and local teams to strengthen ALM capability, improve decision-making insight and advance strategic hedging under IFRS 17 and local solvency perspectives. The scope spans modelling direction, governance, strategic asset allocation review and the practical realities of execution with partners across the Group. If you’re looking to apply deep insurance ALM expertise at scale this role offers the platform and remit to make it happen.

Opening up a world of opportunity
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Issued by The Hongkong and Shanghai Banking Corporation Limited