HSBC Group

Role Purpose

The Group Wholesale Impairment and Stress Testing team, part of Wholesale Credit Risk Management function, is responsible for the measurement, management, calculation, controls and governance of IFRS9 Expected Credit Loss (ECL) reserves for the group-wide Wholesale portfolio (EAD >$1.6tn). We collaborate with Risk and Finance functions across all regions (80+ sites) and lead the review and challenge of Wholesale ECL impairments. The team also has responsibilities for second line review of regulatory stress testing, Financial Resource Planning (FRP) and climate risk stress testing, as well as management of WCRM’s internal stress testing activities. The team has oversight of the 400+ SOX controls that are operated in the end-to-end IFRS9 process, working closely with internal and external stakeholders to continuously monitor, challenge and improve the control environment. The team is located across London, Poland, Bangalore and Chennai.

The senior leadership role will report into the Global Chief Corporate Credit Officer and be responsible for the Wholesale Credit Risk Impairments and Stress Testing models execution and drive development, process execution, controls, review and reporting of expected credit loss, internal stress testing and 2LOD review of regulatory stress testing. The role will have responsibility for WCRM’s Regulatory reporting activities including Large Exposure Reporting and Leveraged Lending Reporting.

Principal Accountabilities 

• Overall responsibility for IFRS9 Expected credit loss including, policy setting, model (re-)design, macro-economic forward guidance, model inputs, stage allocation (1, 2 & 3), model execution, calculation or Results and controls over aggregations, external disclosure review.
• Lead responsibility for effective IFRS9 governance including management of Global Business Impairment Committee and engagement with Senior stakeholders in Risk, Finance and Audit.
• As model owner/sponsor of global IFRS9 and stress testing models, provide strategic direction on model development, design and integrate model execution into the credit risk process.
• Ability to articulate trends in PDs, LGDs, E ADs and ECLs in terms of modelling and non-modelling drivers of the Wholesale portfolio, and relate to macroeconomics, methodology, credit policy
• Lead the Stage 3 process for Wholesale Credit Risk Impairment team, including review and challenge of the Stage 3 Assessments, reporting to senior management, governance and controls.
• Lead responsibility to manage the end-to-end Group Impairment Reporting process, including actuals, forecast and various scenario simulations.
• Manage review of FEG (Forward Economic Guidance) macro variables for including stakeholder and governance engagement with group and  regional teams where required.
• Manage teams supporting robust review & challenge of the IFRS9 numbers, overlay assessment and regional sign-off in line with SOX control governance requirements;
• Lead the development of the Offshore team including operating model and design.
• Support a robust second Line review & challenge of the PRA Stress Testing numbers, overlay assessment, Group Internal Stress test and Climate Risk stress test results;
• Manage review, analysis and reporting of  the expected credit loss / loan impairment numbers and provide insightful trends, analytics and forecast for future periods. Manage the LIC reporting related book of work;
• Responsible for internal/external audit, SOX controls and any other support required for regulatory engagement.
• Managing the regulatory reporting team including but not limited to large exposure reporting and leveraged lending
• Support HSBC strategy through a leadership accountability and provide input into strategic plans for the function, in line with designated responsibilities
• Create a high performance culture
• Engage with and enable the team such that they can fully contribute to the strategy
• Engage with and enable the stakeholders such that they can contribute, influence and support where necessary.

Experience

Functional Knowledge Experience:

• 15+ years of experience in wholesale credit risk management, credit impairment forecasting and risk governance.
• Strong knowledge of credit risk models (PD, LGD, EAD, Staging and ECL)- both in terms of development/validation/monitoring practices and downstream usage of modelled outputs by business/finance/risk, will be an advantage.

External Environment & Regulatory Landscape:

• Strong experience of IFRS9, Stress testing or management of large regulatory change in HSBC or a large UK bank is essential.
• Strong understanding of Impairment related processes including systems, models and reporting aspects across credit risk and finance functions.

Leadership & Interpersonal Skills:

• Ability to effectively work with global and regional teams in Risk, Finance and relevant Transformation functions.
• Good interpersonal and communication skills. Be able to establish credibility and trust with internal business and risk stakeholders in a short timeframe.
• Experience of building, developing and leading a sizeable team.
• Experience of managing within a complex matrix environment.
• Experience working across different countries and cultures.
• Experience working in a regulated environment and liaising with the regulator and with the group’s external auditors.

Essential Capabilities

Business Insight & Decision Quality: Applying knowledge of business and the market to make good and timely decisions that keeps the organization moving forward.
Optimises Work Processes: Knowing the most effective and efficient processes to get things done, with a focus on continuous improvement. 
Action Orientated: Taking on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm.
Builds Effective Teams: Building strong-identity teams that apply their diverse skills and perspectives to achieve common goals.
Persuasion & Conviction: Using compelling arguments to gain the support and commitment of others; stepping up to address difficult issues and saying what needs to be said.
Manages Ambiguity & Ensures Accountability: Operating effectively, even when things are not certain or the way forward is not clear; holds self and others accountable to meet commitments.