Job Description
Some careers shine brighter than others.
If you're looking for a career that will help you stand out, join HSBC and fulfil your potential. 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.
HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 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 Manager, Independent Model Review
The Opportunity:
• The Independent Model Review (IMR) team, part of Model Risk Management (MRM), is a specialist quantitative team and are responsible for carrying out independent validations of HSBC's new and existing business use of quantitative models, to identify and communicate model risk. Model types include, but are not limited to Credit Risk models (Retail and Wholesale), IFRS+ models, Stress Testing and Scenario Analysis models, Economic Capital models, Financial Vulnerability Models, Pricing models, Traded Risk Models, Insurance Risk models. This includes the traditional model types as well as modern approaches such as machine learning (ML) and artificial intelligence (AI) techniques.
• IMR 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.
What you'll do:
Principal Accountabilities: Key activities and decision making areas
Impact on the Business/Function
• Carry out independent reviews for models developed and used within the functional areas being supported, and support model review work for other areas of the Bank
• Support Global Head of Function to provide oversight of models, including driving model approval decisions and monitoring model performance
• Help build management, regulatory, and external confidence in the models
Typical Targets and Measures
• Models developed to robust standards and with appropriate governance and documentation
• Stronger senior management understanding and confidence in models and greater trust placed in using models in business decision-making
Customers / Stakeholders
• Interaction with model owners (and other relevant model stewards) to coordinate model reviews and to report and discuss key findings
• Interaction with model developers to obtain evidence as part of model review work
• Support the interaction with Group Internal Audit on model related audits and audit issues
Typical Targets and Measures
• Strong feedback from Global Functional Head, Regional Team Lead and other key stakeholders in strength of and value added from model reviews
• Positive feedback from model owners and model developers in effectiveness and pragmatism of working approach
• Positive feedback from Internal Audit on collaborative working approach and on input provided to audits
Leadership & Teamwork
• Strong communication working alongside modeling to ensure all findings and recommendations are clearly understood; and with Group Risk to ensure implementation of new independent review policies or standards
• Provide support to members of Global IMR and other IMR teams in the Bank
Typical Targets and Measures
• Strong feedback from and development of more junior members of the team, and other IMR teams in the Bank as relevant
• Strong business understanding and robust implementation of model governance standards, hence reducing materiality of model issues arising
Operational Effectiveness & Control
• Effectiveness of implementation of IR process, techniques and other associated methodologies
• Oversight of implementation of any audit recommendations for IR related areas
Typical Targets and Measures
• Review methodology is simple to follow and effective in identifying key model issues
• No overdue material audit issues
• Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities)
• Ability to communicate complex technical modeling issues to, and deliver credible feedback to, senior stakeholders (Chief Risk Officers, Global Head of IMR for the Bank, CFOs, etc.)
• Strong and broad technical expertise encompassing modeling of various product types and jurisdictions
• Demanding role – working in a rapidly changing regulatory environment and with a dynamic model delivery schedule – often within short timescales
• Role context
HSBC is a globally and systemically important financial institution with assets totally approximately USD trillion. Models underpin all key activities of HSBC Group and model risk management is an important and increasing area of strategic and regulatory focus across the world. With continued and increasing focus on the management of model risk within financial institutions, model risk management functions play a key role in setting standards and in the assessment of inherent and residual model risks in increasingly complex and fast moving markets.
Management of Risk (Operational Risk / FIM requirements)
• The management of risk will be consistent and in-line with the Bank's Policies, Standards and Guidelines including all relevant process and procedures and will focus on adhering to the highest global standards.
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring. Also by addressing any areas of concern in conjunction with line management and/or the appropriate department and in accordance with the 3LOD model.
Observation of Internal Controls
• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Heads of Compliance, Area Compliance Officers or Local Compliance Officers. The term 'compliance' embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will also be achieved liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
Role Dimensions
The job holder will be required to:
• Manage multiple senior stakeholder relationships at global level, as well as within different lines of business and regions.
• Liaise with Regional MRM teams and other teams within IMR to best manage the reviewing of models across all legal entities in HSBC.
• Enhance model risk management and understanding across global businesses and functions and act as the main point of contact for other HSBC staff into MRM. Requirements
What you will need to succeed in the role:
Knowledge:
• Strong knowledge in Market Risk models: market risk metric and capitalization, historical data and time series analysis, instrument valuation and risk sensitivity, and regulatory framework including FRTB.
• Knowledge in one or more of the following areas: Stress Testing and Scenario Analysis models, Traded Risk and Pricing Models, Global Markets Trading & Hedging models, Asset Liability Models etc.
• 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
Experience:
• Experience with some statistical modelling software / programming language SAS, Python, R, Matlab, C++, VBA
• Experience of developing and Risk 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
Qualifications
• Master's or PhD degree in a quantitative discipline like Financial Mathematics, Statistics, Econometrics, Quantitative Finance, Economics or Engineering
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, ****** 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
If you're looking for a career that will help you stand out, join HSBC and fulfil your potential. 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.
HSBC is one of the largest banking and financial services organisations in the world, with operations in 64 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 Manager, Independent Model Review
The Opportunity:
• The Independent Model Review (IMR) team, part of Model Risk Management (MRM), is a specialist quantitative team and are responsible for carrying out independent validations of HSBC's new and existing business use of quantitative models, to identify and communicate model risk. Model types include, but are not limited to Credit Risk models (Retail and Wholesale), IFRS+ models, Stress Testing and Scenario Analysis models, Economic Capital models, Financial Vulnerability Models, Pricing models, Traded Risk Models, Insurance Risk models. This includes the traditional model types as well as modern approaches such as machine learning (ML) and artificial intelligence (AI) techniques.
• IMR 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.
What you'll do:
Principal Accountabilities: Key activities and decision making areas
Impact on the Business/Function
• Carry out independent reviews for models developed and used within the functional areas being supported, and support model review work for other areas of the Bank
• Support Global Head of Function to provide oversight of models, including driving model approval decisions and monitoring model performance
• Help build management, regulatory, and external confidence in the models
Typical Targets and Measures
• Models developed to robust standards and with appropriate governance and documentation
• Stronger senior management understanding and confidence in models and greater trust placed in using models in business decision-making
Customers / Stakeholders
• Interaction with model owners (and other relevant model stewards) to coordinate model reviews and to report and discuss key findings
• Interaction with model developers to obtain evidence as part of model review work
• Support the interaction with Group Internal Audit on model related audits and audit issues
Typical Targets and Measures
• Strong feedback from Global Functional Head, Regional Team Lead and other key stakeholders in strength of and value added from model reviews
• Positive feedback from model owners and model developers in effectiveness and pragmatism of working approach
• Positive feedback from Internal Audit on collaborative working approach and on input provided to audits
Leadership & Teamwork
• Strong communication working alongside modeling to ensure all findings and recommendations are clearly understood; and with Group Risk to ensure implementation of new independent review policies or standards
• Provide support to members of Global IMR and other IMR teams in the Bank
Typical Targets and Measures
• Strong feedback from and development of more junior members of the team, and other IMR teams in the Bank as relevant
• Strong business understanding and robust implementation of model governance standards, hence reducing materiality of model issues arising
Operational Effectiveness & Control
• Effectiveness of implementation of IR process, techniques and other associated methodologies
• Oversight of implementation of any audit recommendations for IR related areas
Typical Targets and Measures
• Review methodology is simple to follow and effective in identifying key model issues
• No overdue material audit issues
• Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities)
• Ability to communicate complex technical modeling issues to, and deliver credible feedback to, senior stakeholders (Chief Risk Officers, Global Head of IMR for the Bank, CFOs, etc.)
• Strong and broad technical expertise encompassing modeling of various product types and jurisdictions
• Demanding role – working in a rapidly changing regulatory environment and with a dynamic model delivery schedule – often within short timescales
• Role context
HSBC is a globally and systemically important financial institution with assets totally approximately USD trillion. Models underpin all key activities of HSBC Group and model risk management is an important and increasing area of strategic and regulatory focus across the world. With continued and increasing focus on the management of model risk within financial institutions, model risk management functions play a key role in setting standards and in the assessment of inherent and residual model risks in increasingly complex and fast moving markets.
Management of Risk (Operational Risk / FIM requirements)
• The management of risk will be consistent and in-line with the Bank's Policies, Standards and Guidelines including all relevant process and procedures and will focus on adhering to the highest global standards.
• The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
• This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring. Also by addressing any areas of concern in conjunction with line management and/or the appropriate department and in accordance with the 3LOD model.
Observation of Internal Controls
• The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
• The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Heads of Compliance, Area Compliance Officers or Local Compliance Officers. The term 'compliance' embraces all relevant financial services laws, rules and codes with which the business has to comply.
• This will also be achieved liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
Role Dimensions
The job holder will be required to:
• Manage multiple senior stakeholder relationships at global level, as well as within different lines of business and regions.
• Liaise with Regional MRM teams and other teams within IMR to best manage the reviewing of models across all legal entities in HSBC.
• Enhance model risk management and understanding across global businesses and functions and act as the main point of contact for other HSBC staff into MRM. Requirements
What you will need to succeed in the role:
Knowledge:
• Strong knowledge in Market Risk models: market risk metric and capitalization, historical data and time series analysis, instrument valuation and risk sensitivity, and regulatory framework including FRTB.
• Knowledge in one or more of the following areas: Stress Testing and Scenario Analysis models, Traded Risk and Pricing Models, Global Markets Trading & Hedging models, Asset Liability Models etc.
• 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
Experience:
• Experience with some statistical modelling software / programming language SAS, Python, R, Matlab, C++, VBA
• Experience of developing and Risk 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
Qualifications
• Master's or PhD degree in a quantitative discipline like Financial Mathematics, Statistics, Econometrics, Quantitative Finance, Economics or Engineering
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, ****** 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
💡 Quick Summary
Seeking a career-building opportunity? The Manager| Independent Model Review GSC|s position is now open for candidates interested in the Bank Jobs sector. This role in Kolkata offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
