HSBC Group

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If you’re looking for a career where you can make a real impression, join HSBC and discover how valued you’ll be.

HSBC is one of the largest banking and financial services organisations in the world, with operations in 62 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

We are currently seeking an experienced professional to join our team in the role of Assistant Vice President - Model Risk

Business: Fin Sustain & Grp Ext Comm

Principal responsibilities

• Responsibility for enhancing the documentation of models used within Valuations.
• Responsible for challenging model users and Valuations asset class leads on model quality and identifying and tracking areas of remediation
• Responsible for developing a good understanding of Model Governance and driving full compliance within Valuations (supported by Valuations + Analytics Management)
• Responsible for tracking status of model governance in a way that is clearly understood by all stakeholders
• Will be required to represent Product Control in governance forums with senior stakeholders within Finance, Risk and the business.
• Defining and shaping planning for the model remediation roadmap

Customers / Stakeholders 

• Valuations Asset Class Leads, Regional Heads of Valuations, Heads of Traded Risk, Head of Global Risk Analytics and Model Review Group
• Global Head of Valuations and Analytics, Head of Analytics
• PwC and internal audit

 Leadership & Teamwork

• Lead from the front and be a role model in driving and executing change and new ways of working
• Authentically engage a diverse group of stakeholders to deliver at pace
• Make sustainable decisions that protect and enhance HSBC’s value and stakeholder value

 Operational Effectiveness & Control

• Integrity, conduct and performance measured against ethical standards.
• Streamline processes to improve productivity and reduce complexity

 Aspirational target for zero audit points for models owned by Product Control.

• Variety of stakeholders within Valuations (across asset classes and geographies). Role holder is not expected to be an expert on all models but able to challenge stakeholders around model documentation and model quality and compliance with deadlines for dependencies into this process.
• Project management: Product Control has a large number of models in use, it will be important to run the project in an efficient and transparent way,
• Communication: the delivery will rely on the work of a large number of individuals who will need to have a clear understanding of what is expected of them and when
• This role is key part of the execution of the control environment and the accuracy of HSBC financial statements specifically in relation to establishing fair valued for traded products across the Group. Role holder is responsible for ensuring that the documentation is up to standard and all actions on model remediation are captured and tracked.
• The size and high visibility of the FVA and PVA models combined with the diversity of stakeholders involved make this an important and rewarding role with an opportunity to shape an approach for the future.
• The role requires an understanding of as well as compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the job holder is involved.
• This includes internal controls and any compliance policy including, inter alia, the Group compliance policy.
• Be aware of the operational risk context associated with the role and act in a manner that takes account of operational risk considerations.
• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

• Degree in quantitative or relevant discipline
• Good written documentation skills
• Proven analytical skills and thinking
• Knowledge of modelling risk management frameworks and familiarity with modelling techniques an advantage
• Proven collaboration skills and ability to work across boundaries in a productive manner
• Good communication skills, particularly around presenting information and complex topics simply
• Proven ability to work with senior stakeholders
• Evidence of ability to constructively challenge stakeholders
• 6+ years of relevant post-qualification experience in either the Product Control or Valuation Control

 You’ll achieve more at HSBC

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.”

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