Job description
Who is HSBC Innovation Banking?
HSBC Innovation Banking is the power behind the UK’s forward-thinkers, future-makers, and leap-takers, helping them ignite the bold ideas that reshape our world. We offer flexible banking solutions for start-ups, scale-ups, growth businesses, investors and those working towards IPO typically within the technology and life science sectors.
Whether it’s comprehensive banking, managing cashflow, plans for buyouts or Strategic Fund Solutions, we power ideas at every stage of their journey. From the first-time founders to the funds that back them, and everything in between. We're proud to accelerate growth for our clients, create meaningful connections and communities, and open a world of global opportunity for entrepreneurs and investors alike.
Here’s to never standing still. Come and join us!
The team you’ll work with:
Reporting to the Head of EMEA Controls you will be responsible for partnering with operational, functional and change teams to support the identification, documentation, management and reporting of non-financial risks and controls. The successful candidate will work collaboratively across HSBC Innovation Banking with stakeholders at various levels from multiple functions, also interfacing with teams across the wider HSBC group, to drive and enhance the overall control agenda.
The role encompasses and has the following principal responsibilities:
Provide strategic support to the Risk Owner for Model Risk in HSBC Innovation Banking, who is HSBC Innovation Banking Chief Financial Officer, by embedding the key aspects of Model Risk within First Line of Defence:
Driving the Model Risk Agenda for HSBC Innovation Banking
Model Risk Procedures embedding and oversight.
Risk Appetite Statement breaches and remediation tracking.
Risk and Controls Assessment (RCA) Completion
Consolidation of Model Risk controls monitoring and results
Act as Secretariat for the Model Risk Forum Working Group to ensure appropriate governance is in place for Model Risk in HSBC Innovation Banking
Operate as the lead, key contact and subject matter expert for models developed and / or used in HSBC Innovation Banking (e.g., Capital Models, Product Pricing models, valuation models, market risk models) and model risk management overall.
Lead on the implementation of the Prudential Regulatory Authority
Supervisory Statement SS1/23 “Model Risk Management Principles for Banks” in HSBC Innovation Banking within First Line of Defence, this SS comes into effect in May 2024 and will include, but not limited to, the following incremental aspects:
Implementation of the Deterministic Quantitative Method Risk policy.
Implementation of Controls regarding Post Model Adjustments.
The above will involve working with Group Model Risk Management as they define the policy and approach, working across HSBC Innovation Banking to identify gaps, coming up with clear plans to remediate these gaps, and to implement new policy and controls, directing and advising model owners, and providing clear updates to key HSBC Innovation Banking Governance Forums and Senior Management.
Play a key role in driving the completion of activities required as part of any governance remediation work and drive the continual improvement of HSBC Innovation Banking’s model risk management policies, procedures, and processes. Including adequate remediation to identified gaps and provide escalations in case of delays to timelines.
Review and advise on the rating of individual models for their tiering from entity perspective.
Review and advise on the request of dispensations and risk acceptances from Model Risk Policy and model risk standards from entity perspective.
Requirements
The experience you need:
You must be in a senior Risk role that demonstrates and underpins your knowledge or Risk Governance and Frameworks, Compliance & Controls, including Non-Financial Risk Management.
Significant knowledge and experience of regulatory requirements and industry-wide best practice relating to model risk management and governance.
Solid experience implementing and managing Model Risk Management Risk Frameworks, including Model Lifecycle controls and Policies.
Excellent experience of local regulators and regulations related to Model Risk.
Where you’ll be based:
Our home office in Finsbury Square, London. We offer hybrid working to all of our employees, so you can flex between home and the office.
Equal Employment Opportunity
HSBC Innovation Banking is an equal opportunities employer. We support inclusive practices within our assessment process. If you need any specific support or adjustments, please highlight to your Recruiter or via your application.