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.

Independent Model Validation is a specialist quantitative role within the Model Risk Management team responsible for carrying out independent validations of HSBC’s model landscape, in order to identify and communicate model limitations and issues. This role is part of the Wholesale IRB validation team. 

Independent Model Validation provides independent challenge of a model’s underlying theoretical assumptions and limitations, its practical implementation, its live application and business usage, providing stakeholders (including model users, senior management, audit and regulators) with assurance that models and tools developed, maintained and used within HSBC Group are fit for their intended purposes and are compliant with applicable internal and supervisory expectations. They will also review remediation plans and activities, undertake portfolio level reviews across model types and challenge the model owners on the appropriate application of relevant policy of models. 

We are currently seeking a high calibre professional to join our team as a Senior Manager, Independent Model Review.

Principal Responsibilities

  • Through effective stakeholder management and liaison with Global Businesses and Functions; plan, prioritise and deliver independent reviews and assessments for models developed and used with the area, ensuring that decisions are based on delivering 2LOD accountabilities and taking account of key business priorities.
  • Support the Global Head of the Function by ensuring that potential model risk issues, impacts to risk appetite, Internal and external audit findings and regulatory issues are managed appropriately and escalated in a timely manner as required
  • Participate in engagements with Regulators as required to evidence robust independent challenge of model used in HSBC
  • Undertake model validation activities as dictated by the Global Model Risk Policy including the assessment of; model inputs, calculations, reporting outputs, conceptual soundness of the underlying theory and the suitability of the use for its intended purpose, relevance and completeness of data, qualitative information and judgements, documentation, and implementation of the model
  • Provide written reports detailing the results of validations highlighting issues identified during the validation
  • Validate remediation activities completed by the ILOD to ensure appropriate resolution of identified issues
  • Work with relevant stakeholders to embed new Global Model Risk Policies and Procedures
  • 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.
  • Participate at Governance Forums as required
Requirements

Knowledge:

  • Extensive knowledge of the Wholesale IRB PD/LGD/EAD modelling approaches and the applicable regulations from EBA/ECB or PRA or HKMA
  • Comprehensive knowledge of statistical model and scorecard development techniques
  • Detailed knowledge of Risk models, performance metrics and risks and associated issues
  • Detailed knowledge of internal procedures and local regulations and those of other country regulators would be an advantage

Experience:

  • Experience with some statistical modelling software / programming language e.g. SAS, Python, R, Matlab, C++, VBA
  • Experience of developing and reviewing models throughout the customer lifecycle
  • Experience of presenting recommendations to Senior Management
  • Experience of conducting independent model reviews

Skills:

  • Ability to present complex statistical 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

You’ll achieve more when you join HSBC. 

http://www.hsbc.com/careers

HSBC is 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. Personal data held by the Bank relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by The Hongkong and Shanghai Banking Corporation Limited.

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