ID del contrato
Role Purpose:
The Head of Valuation Modelling in Product Control will own and be responsible for the development, support, maintenance, streamlining and automation of Fair Value and Prudent Value models and methodology within Valuation Strategic Infrastructure (VSI), Pegasus and across all tactical automation platforms. These models and methodologies underpin the production and reporting of all aspects of the calculation and governance of Fair and Prudent Value for instruments on the balance sheet primarily for the CIB MSS business, also expanding to all businesses across the HSBC Group.
The Valuations Analytics and Reporting group is part of Global Product Control in the Controllership function and is split into 4 main areas of
(1) Quantitative Analytics including Models and Financial Engineering
(2) Fair and Prudent Value Methodology for relevant products on the HSBC Balance Sheet
(3) Production of the same, and
(4) Reporting on the balance sheet.
This includes the execution of the control environment and exercising significant judgement on Valuation Adjustments, to ensure the accuracy of HSBC financial statements specifically in relation to establishing fair valued for traded products across the firm.
The role specifically focusses on
(1) Quantitative Analytics including Models and
(2) Fair and Prudent Value Methodology.
In this role, the role holder will own the development of valuation methodologies in respect of CIB MSS products and products traded in other businesses, when relevant. This will include ownership of the related methodologies, models, documentations and governance, as well as responsibility for ensuring that these continue to remain appropriate and relevant following changes in HSBC positions and the wider market. The role holder will be expected to have extensive knowledge and experience in the valuation of CIB MSS products, and related financial markets, and be able to apply this in their role.
As well as promoting a robust model control framework, the role holder must also lead and support the overall PC strategy and in the simplification of the methodologies and related processes through the identification of synergies and opportunities for efficiency.
The role holder will therefore need to construct, lead and drive the detailed workstreams that will deliver on the simplification and automation objectives, working with Finance change and IT, on process consistency and standardization of valuation framework including
(a) the standardization of the fair value adjustment models and methodologies in a scalable manner
(b) ensuring that the teams deliver on the remediation items already defined
(c) assist the PC VAR management team and the Controllership function in delivering a global Valuation operating model using leveraging the expertise across the team
(d) drive and assist with resource planning that will allow PC VAR overall to be well positioned to achieve its control and simplification objectives for the future. The role holder is also required to manage extensive interactions within the Controllership team, as well as other stakeholders including broader
Finance, Internal Audit, PWC, PRA and ECB, collaborating with FO Quants and other quantitative teams, business stakeholders in the business but also demanding accountability to fulfil the role as controller and gate keeper.
Accountabilities:
- Product Control manages a reserve base of circa $1.5 billion overall plus a considerable number of adjustments to capital under Prudent Value.
- This role will be directly responsible for driving and implementing scalable models and methodologies that calculate the global Fair Value and Prudent Value adjustments, primarily for CIB MSS, but also with an objective to expand to cover all HSBC businesses, when appropriate.
- Defining and shaping plans, driving strategy, making complex decisions in support of the PC simplification, automation and governance initiatives, with focus on scalable and efficient design – specially in terms of models and collaboration with the MSS FO Quant teams, as well as other quantitative teams across Finance and Risk.
- Participating to the building and maintaining a team of focused technical and quantitatively able Finance Professionals, who are driven by dealing with complex pricing issues in the derivative market, using robust financial data and insights to develop models and methodologies driving fair value and prudent value of all traded products, ensuring an appropriate model control and model governance environment exists.
- Establish and run a well-resourced, technically qualified and diverse team with the right people in the right roles in London, Paris, Krakow and Bangalore.
- Build and maintain team skills and capabilities required for the future. Build and foster high performance culture focused on value delivery for PC department and HSBC as a whole.
- Establishing and maintaining highly motivated, collaborative, efficient and agile team able to execute.
- Establish and drive Valuation methodology best practice, engage with regulators and internal/external audit on all queries regarding the modelling of the Fair Value base.
- Ensure the development and production support of Fair Value and Prudent Value Adjustments models and methodologies ; drive consistency and simplification of these methodologies across the business, ensuring that these are well documented, understood and communicated to all stakeholders.
- Create an environment where operational risk requirements can be managed effectively, drive a culture of proactive risk identification, timely remediation and simplification.
- Understand and translate Group Strategy into the function and plot a beneficial course for the Group. Ensure the provision of opportunities, challenge & reward for its team and for ensuring uncompromising control & integrity. Stakeholder management of a set of senior and diverse stakeholders like global heads of Quant teams, VAR heads and leads, businesses and CFO’s teams, global head of Product Control, group, business and regional Financial Controllers.
- Communication is key with the role holder being required to simplify a complex set of undertakings and be the primary communication route to the above stakeholders.
- Detailed and up-to-date knowledge of Fair Value framework, products pricing and underlying valuation methodologies is essential. Enable Product Control and Finance to achieve its digital objectives by, drive and enable the adoption of appropriate new technologies, such as adoption of AI. Driving utilisation of AI within the team to achieve productivity gains with appropriate safeguards. Helping drive the reporting and analysis agenda.
Postulación
- Extensive knowledge and experience in the valuation of MSS products across asset classes, related financial markets, and the related industry standard pricing and valuation models.
- Detailed and up-to-date knowledge of the concept of Fair Value, Prudent Value and the related measurement and adjustment processes, management and control around the same. Strong knowledge of regional/country regulatory landscape and ability to assess the impact of proposed shifts in the market to and rules to the model environment of the bank.
- Ability to understand the products and their purpose for the clients.
- Holds undergraduate or postgraduate degree in similar numeric field and has 10+ years experience in a similar organisation (size and complexity).
- Applying knowledge of business and the market to make good and timely decisions that keeps the organization moving forward.
- Creating new and better ways for the organization to be successful. Knowing the most effective and efficient processes to get things done, with a focus on continuous improvement.
- Taking on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm. Building strong-identity teams that apply their diverse skills and perspectives to achieve common goals.
- Painting a compelling picture of the vision and strategy that motivates others to action.
- Using compelling arguments to gain the support and commitment of others; stepping up to address difficult issues and saying what needs to be said.
- Rebounding from setbacks and adversity when facing difficult situations.
- Operating effectively, even when things are not certain or the way forward is not clear; holds self and others accountable to meet commitments.
What we offer
The pay range for this role is 36,150.00 - 54,225.00 PLN.
Additional car allowance in the amount of 7,663 PLN (monthly, gross).
Variable pay is discretionary, but influenced by Group performance, business/function performance and individual performance.
We offer a comprehensive and competitive package of benefits covering healthcare, family friendly leaves, pension and life assurance, as well as many other benefits to support your wellbeing
* Additional bonuses for recognition awards
* Multisport card
* Private medical care
* Life insurance
* One-time reimbursement of home office set-up (up to 800 PLN).
* Cafeteria platform
* Employee assistance program
* Additional contributions to PPK scheme
* Corporate parties & events
* CSR initiatives
* Nursery and kindergarten discounts
* Financial support with trainings and education
* Social fund
* Flexible working hours
* Free parking
In case you would like to resign from participation in recruitment process or withdraw previously sent to us application, please email us at: hr.krakow.pl@hsbc.com.
The pay range for this role is 36,150.00 - 54,225.00 PLN.
Additional car allowance in the amount of 7,663 PLN (monthly, gross).
Variable pay is discretionary, but influenced by Group performance, business/function performance and individual performance.
We offer a comprehensive and competitive package of benefits covering healthcare, family friendly leaves, pension and life assurance, as well as many other benefits to support your wellbeing
* Additional bonuses for recognition awards
* Multisport card
* Private medical care
* Life insurance
* One-time reimbursement of home office set-up (up to 800 PLN).
* Cafeteria platform
* Employee assistance program
* Additional contributions to PPK scheme
* Corporate parties & events
* CSR initiatives
* Nursery and kindergarten discounts
* Financial support with trainings and education
* Social fund
* Flexible working hours
* Free parking
In case you would like to resign from participation in recruitment process or withdraw previously sent to us application, please email us at: hr.krakow.pl@hsbc.com.