HSBC Group

Role purpose

Global Enterprise Risk Management (ERM) is a sub function of Group Risk and Compliance. Its purpose is to make sure HSBC is equipped with a coherent Risk Management Framework, Risk Taxonomy and the tools to enable it to understand and operate within its Global Risk Appetite and effectively manage its overall risk position. It seeks to strengthen the risk culture across the organisation through driving consistent risk management practices across our businesses and functions at global, regional and market level. ERM achieves this through robust oversight and stewardship of the end-to-end processes, risks, and controls ensuring it complies with risk, business and regulatory priorities. Enabling the bank to grow safely, be forward looking, and meet its strategic objectives. 

Model Risk Management (MRM) at HSBC is structured as a global function, headed up by the Chief Model Risk Officer (CMRO). MRM are the second line of defence (LOD) for Model Risk and the CMRO is the global Model Risk Steward for the group and is also accountable for the global operation of the MRM function. MRM teams are based in each region, to ensure local subject matter expertise and to guide, review, and challenge. MRM activity is managed on a global basis as many models are used in multiple locations. This enables MRM to operate consistently and efficiently globally, and to take account of additional local regulatory requirements

Main activities

• The role holder is accountable for leading oversight and engagement with all Regional, Country and Entity level senior stakeholders for model risk stewardship within the region they are responsible for, ensuring that strong risk management is embedded across businesses and functions, enabling safe growth.
• Review and support the approval of dispensations from Global Model Risk Policy and Standards for their region, including local regulatory interpretation.
• Ensure businesses and functions understand and implement the requirements set forth in the model risk policy, standards and controls.
• They are responsible for local Model Risk Management reporting and for providing regional input to global reporting where required.
• As the Regional Model Risk Steward, the role holder is responsible for working with Risk & Control Owners to support active model risk management across their region. This includes:
  • Oversee the embedding of the Risk Taxonomy & Control Library for Model Risk.
  • Providing ongoing oversight and challenge of the 1LOD in embedding Risk Policy and monitoring ongoing compliance to the policy.
  • Supporting the 1LOD in setting and managing their risk appetite and risk acceptance approach including the provision of oversight and challenge to ongoing monitoring and remediation plans (as applicable).
  • Providing final approval for the use of material models for Regional use cases.
  • Actively providing advice and challenge to the 1LoD for key existing and emerging risks and the associated conduct impact and customer outcomes of these risks.
  • Ensuring Use and Adoption of the Risk Framework, including updates to operating models or ways of working and ensuring closure of actions in an agreed timeframe.
• Continuing to enhance and embed Risk Management capabilities for themselves and their teams as well as the 1LOD.
• Lead Enterprise Risk reporting for their area including the gathering of emerging risks and assessing the aggregate risk status for their area.
• Contribute to relevant Transformation Programmes within the Group by proactively engaging and assisting in the identification and mitigation of risk.
• Lead the interaction with Group Internal Audit on model related audits, MSIIs and audit issues and ensure oversight on the implementation of any audit recommendations
• Provide model users, model owners, senior management, audit, and regulators (across 1LOD, 2LOD, 3LOD) with confidence that the models and tools developed, maintained, and used within the Group are compliant with internal and regulatory expectations and fit for the intended purpose.
• Help build management, regulatory, and external confidence in all models used across the group.

Knowledge and Experience:

• Experience in risk management at a Globally Significant Financial Institution (GSFI).
• Understands the impact of model risk within HSBC Group and its commercial context and strategic ambitions.
• Significant experience of model risk management, governance and/or model development / validation.
• A good level of knowledge of the relevant regulatory landscape and ability to access the impact of proposed changes in regulatory rules to the bank, especially those pertaining model risk.
• Knowledge of a financial institutions business model, products and key risk drivers.
• A deep understanding and technical expertise of model risk, including how this risk can be identified, assessed, monitored and controlled and mitigated where relevant.
• Ability to lead and promote a strong risk control culture and continually improve risk awareness.
• Proven ability to develop networks with key stakeholders in a matrix structure.
• Support a multi-locational team of professionals.
• Providing expert advice and robust challenge, delivering risk management policies and managing risks and controls.

Skills:

• Ability to present complex technical concepts and results to non-technical audiences in a persuasive and compelling manner.
• Team-oriented mentality combined with ability to complete tasks independently to a high-quality standard.
• A change agent who challenges the status quo diplomatically, constructively and positively in order to lead relevant strategies that enable safe growth of HSBC.

Qualifications:

• Relevant data qualifications/certificates/experience
• A BA or BS University Degree, advanced degrees preferable, (e.g. MBA, MSc, PhD)

HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.