Job Description
Role Purpose
The Group’s Risk Management Framework (RMF) requires independent Second Line Assurance of the management of material risks and controls across HSBC’s non-financial and financial risk taxonomies. The RCAS function provides a significant proportion of this assurance.
Via its industry-leading centres of excellence, RCAS delivers innovative assurance solutions for and on behalf of HSBC’s Risk Stewards and peer assurance teams.
Controls Assurance (CA) reports into RCAS and is responsible for assuring the risk management of critical business processes and specified non-financial and financial risks across the Group, principally by testing mitigating controls. This is achieved by building out a centralised offshore capability that will deliver agile, insightful, and cost-efficient assurance. CA also provides a resource augmentation service to other assurance teams within the Bank, becoming a vehicle to effectively manage assurance costs and resources. Also, CA works together with the RCAS Automation and Analytics team to develop, test and deploy their Continuous Assurance objectives.
CA provides assurance across various Non-Financial and Financial Risks within all HSBC territories and divisions. These include, to differing extents, Operational and Resilience Risk (ORR), Model Risk, Wholesale Credit Risk (WCR), Retail Credit Risk (RCR), Insurance Risk, Financial Crime Risk (FCR) and Regulatory Compliance (RC) Risk. Specifically, CA has a mandate to provide the following key assurance services:
Process-led assurance – assuring the design, operation, recording and monitoring of key controls and expected risk management outcomes within agreed critical business services across the Group
Risk-based cyclical assurance – assuring the above for specific risk taxonomies
Entity Control assurance – assuring the design, operation, recording and monitoring of key controls designated by entity-level reporting frameworks across the Group (e.g., SOX, ELCs)
Resource augmentation – Temporarily providing staff to non-RCAS assurance teams to support their assurance activities
Work in alignment to the Integrated Assurance Framework (IAF)
CA is principally comprised of Control Testing Utilities (CTUs) executing this assurance work. These CTUs are principally based in Global Service Centres within India, China and Poland, and are staffed with assurance specialists with expertise across the range of risks being covered
This role will report into the VP or AVP, Model Risk - Controls Assurance, RCAS (GSC Country location name) and will be responsible for delivering assessments of key control activities of Model Risk areas, in accordance with CA procedures and the assessment plan.
The role holder will be required to support the VP/AVP, Model Risk CA (GSC CTU Location Name) in leading or working with a team to assess the effectiveness of assigned controls relating to the Model Risk in identifying and raising issues where control gaps lead to material unaddressed risks.
At a high level, the role holder will be responsible for the following:
Map processes of assigned controls and identify the main control components within that end-to-end process.
Document distinct control types, covering key aspects, such as remit, main processes, and handovers to other teams.
Evaluate assigned controls for operating effectiveness, document results and raise issues as appropriate.
Assist the VP/AVP in the delivery of assigned control assessments and ensure that assigned control assessments are accurate, effective, abide by CA procedures and templates, and meet quality control requirements.
Ensure that assigned control assessments are delivered on time, in accordance with the CA assessment plan.
Evaluate the root cause analysis for all material issues and remediation plans in places to ensure that they are sufficient and fit-for-purpose.
Perform issue closure validation to ensure risks are sustainably remediated by First Line of Defence.
Support the VPs/AVPs (location name) as required, including creating customised testing methodology and testing templates.
As required, on a rotating basis, support regional Compliance Assurance teams to execute their assurance obligations through remote execution of local reviews and in line with standards set by the CA team commissioning the work (staff augmentation).
Effectively communicate with local stakeholders during the process of review work.
What you’ll do:
Principal Accountabilities: Key activities and decision-making areas
Impact on the Business
Ensure the accurate, efficient, and timely completion of independent control assessments for controls associated with Model Risk as required by the function.
Ensure the quality of work delivered is up-to-standard and ensure compliance with CA and RCAS templates, procedures, and quality requirements.
Understand and document the remit, process composition and team handovers of relevant controls.
Identify key emerging trends and themes in relation to assigned and relevant risks to inform the CA assessment plan and the continuous development of CA & RCAS methodology and procedures.
Typical Targets and Measures
Execution and delivery of a portfolio of control assessments.
Accurate, timely and reliable testing of controls associated with Model Risk.
Ensure a consistent approach to CA testing activities across all LoBs for Model Risk outlined by the function, in accordance with standardised procedures.
Meeting agreed regulatory deadlines and targets.
Support the production of high-quality management information (MI) covering CA activities.
Increased utilisation of automation and analytics across all CA assessments.
Customers / Stakeholders
Work closely with first line operations teams to understand the processes of assigned controls.
Build strong relationships with all internal stakeholders, adopting a joined-up approach to the execution of tasks with minimum conflict, while ensuring the independence of CA.
Ensure that executive and senior management in the business, function and Compliance are advised of matters arising, and emerging trends, from assurance reviews and analysis.
Provide stakeholders with insight into CA activities, where required and support the VP / AVP in aligning standards with the Integrated Assurance Framework.
Typical Targets and Measures
Effective stakeholder management, ensuring constructive assessment outcomes.
Facilitate regular meetings with stakeholders and senior management.
Outputs (presentation decks, papers, and reports) are clear, accurate and concise.
Leadership & Teamwork
Work as part of a team, able to collaborate to accomplish common goals.
Perform assigned control assessments, taking responsibility for their successful delivery.
Operate to a high standard, in alignment with HSBC Values, leading by personal behaviour and through your interaction with others.
Embrace the high-performance culture through proactive engagement and collaboration.
Communicate effectively across CA, delivering testing results and raising issues as appropriate.
Typical Targets and Measures
Drive a high-performance culture through attendance at team meetings and 1:1s with line manager.
Maintain personal objectives set consistently across day-to-day activities.
Share best practices and highlighting issues across Model Risk and other relevant functions, as appropriate.
Operating Effectiveness & Control
Able to work independently with minimal supervision.
Provide support in developing CA procedures and templates, in collaboration with Controls Assurance Coordinator (CAC), Professional Practices (PP), Automation and Analytics and relevant SMEs, ensuring high operating standards within the division.
Provide support on any ad-hoc projects and assessments as requested by the VP/AVP.
Drive high operational standards within the team and avoid high risk findings from Internal Audit or other internal/external Assurance teams.
Be innovative in executing all responsibilities and providing solutions to complex issues in a dynamic, high-risk environment.
Typical Targets and Measures
Observation of line manager and feedback from key stakeholders.
No high-risk issues from Internal Audit reviews directly relating to CA.
Delivery of assurance activities as per the agreed plan and procedure requirement.
Major Challenges
Assist CTU in delivery of high-quality controls assessment in a designated timeframe.
Understand the underlying risk types mitigated by each assigned control, identify control gaps through operating effectiveness testing and raise issues as appropriate.
Determine innovate ways of testing controls in a precise and efficient manner, harnessing analysis of data where possible.
Be attuned to the political, management, operational, regulatory, and reputational implications of particular decisions and courses of action.
Assist management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks.
Managing the demands of the multiple and diverse aspects of the role.
Role Context
The role holder must be a team player and able to work well with the VP/AVP and other CTU members.
The role holder must be detail oriented and able to filter the right information.
The role holder is required to handle all assigned tasks, raising any issues to direct reports in a timely manner.
The role holder will be required to complete assigned control assessments, potentially covering all business lines, functions, and geographies.
The role holder will support the VP and/or AVP of Controls Assurance in ensuring that the CA assessment plan is executed as assigned, meeting HSBC risk management requirements and regulatory expectations, providing risk stewards, control owners and senior management with up-to-date information regarding standards of compliance with financial crime and regulatory compliance rules within the organisation.
The role holder is responsible for ensuring that the assurance standards in the division are in accordance with the CA guidance, Group Standards Manual and Functional Instruction Manual (FIM).
Management of Risk
Be acutely aware of the operational risks associated with business activities, considering changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
The role holder is responsible for ensuring that the testing specialists operate in accordance with CA standards.
Observation of Internal Controls
Maintains HSBC internal control standards, including timely implementation of internal and external audit actions together with any issues raised by external regulators.
To assist in the discharge of accountabilities set out in the relevant FIMs by proactively assisting Risk Stewards and Control Owners in their responsibilities.
Requirements
What you will need to succeed in the role:
Knowledge & Experience / Qualifications
Minimum of 2 years proven experience in assurance, audit, compliance or risk management within financial services or other major industries.
A good understanding of model risk and control framework including model discovery and identification, and knowledge of relevant regional laws, regulations and the overall regulatory environment preferred.
Minimum Bachelor’s degree in related field such as business, finance, law, or equivalent experience.
Ability to identify and assess the risks associated including materiality with the models
Understanding of the model risk management framework and model life cycle requirements
Awareness of model development, implementation, and use
Proven ability to multi-task and working independently under pressure to tight deadlines in a challenging and fluid environment.
Experience of process mapping and delivering professional reports and presentations gained within a financial services organisation or audit/consulting practice.
Awareness of good risk management and governance frameworks including 3 lines of defence criteria
Understanding of the activities of relevant business lines and associated compliance risks.
Strong interpersonal skills with the ability to communicate effectively and to engage with HSBC staff within the functions.
Ability to foster relationships whilst providing adequate challenge and effecting change within the model development and testing
Experience utilising assurance automation and analytics tools preferred.
Fluent in both oral and written English.
Proficient with Microsoft Office.
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.”
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 HSBC Electronic Data Processing (India) Private LTD
The Group’s Risk Management Framework (RMF) requires independent Second Line Assurance of the management of material risks and controls across HSBC’s non-financial and financial risk taxonomies. The RCAS function provides a significant proportion of this assurance.
Via its industry-leading centres of excellence, RCAS delivers innovative assurance solutions for and on behalf of HSBC’s Risk Stewards and peer assurance teams.
Controls Assurance (CA) reports into RCAS and is responsible for assuring the risk management of critical business processes and specified non-financial and financial risks across the Group, principally by testing mitigating controls. This is achieved by building out a centralised offshore capability that will deliver agile, insightful, and cost-efficient assurance. CA also provides a resource augmentation service to other assurance teams within the Bank, becoming a vehicle to effectively manage assurance costs and resources. Also, CA works together with the RCAS Automation and Analytics team to develop, test and deploy their Continuous Assurance objectives.
CA provides assurance across various Non-Financial and Financial Risks within all HSBC territories and divisions. These include, to differing extents, Operational and Resilience Risk (ORR), Model Risk, Wholesale Credit Risk (WCR), Retail Credit Risk (RCR), Insurance Risk, Financial Crime Risk (FCR) and Regulatory Compliance (RC) Risk. Specifically, CA has a mandate to provide the following key assurance services:
Process-led assurance – assuring the design, operation, recording and monitoring of key controls and expected risk management outcomes within agreed critical business services across the Group
Risk-based cyclical assurance – assuring the above for specific risk taxonomies
Entity Control assurance – assuring the design, operation, recording and monitoring of key controls designated by entity-level reporting frameworks across the Group (e.g., SOX, ELCs)
Resource augmentation – Temporarily providing staff to non-RCAS assurance teams to support their assurance activities
Work in alignment to the Integrated Assurance Framework (IAF)
CA is principally comprised of Control Testing Utilities (CTUs) executing this assurance work. These CTUs are principally based in Global Service Centres within India, China and Poland, and are staffed with assurance specialists with expertise across the range of risks being covered
This role will report into the VP or AVP, Model Risk - Controls Assurance, RCAS (GSC Country location name) and will be responsible for delivering assessments of key control activities of Model Risk areas, in accordance with CA procedures and the assessment plan.
The role holder will be required to support the VP/AVP, Model Risk CA (GSC CTU Location Name) in leading or working with a team to assess the effectiveness of assigned controls relating to the Model Risk in identifying and raising issues where control gaps lead to material unaddressed risks.
At a high level, the role holder will be responsible for the following:
Map processes of assigned controls and identify the main control components within that end-to-end process.
Document distinct control types, covering key aspects, such as remit, main processes, and handovers to other teams.
Evaluate assigned controls for operating effectiveness, document results and raise issues as appropriate.
Assist the VP/AVP in the delivery of assigned control assessments and ensure that assigned control assessments are accurate, effective, abide by CA procedures and templates, and meet quality control requirements.
Ensure that assigned control assessments are delivered on time, in accordance with the CA assessment plan.
Evaluate the root cause analysis for all material issues and remediation plans in places to ensure that they are sufficient and fit-for-purpose.
Perform issue closure validation to ensure risks are sustainably remediated by First Line of Defence.
Support the VPs/AVPs (location name) as required, including creating customised testing methodology and testing templates.
As required, on a rotating basis, support regional Compliance Assurance teams to execute their assurance obligations through remote execution of local reviews and in line with standards set by the CA team commissioning the work (staff augmentation).
Effectively communicate with local stakeholders during the process of review work.
What you’ll do:
Principal Accountabilities: Key activities and decision-making areas
Impact on the Business
Ensure the accurate, efficient, and timely completion of independent control assessments for controls associated with Model Risk as required by the function.
Ensure the quality of work delivered is up-to-standard and ensure compliance with CA and RCAS templates, procedures, and quality requirements.
Understand and document the remit, process composition and team handovers of relevant controls.
Identify key emerging trends and themes in relation to assigned and relevant risks to inform the CA assessment plan and the continuous development of CA & RCAS methodology and procedures.
Typical Targets and Measures
Execution and delivery of a portfolio of control assessments.
Accurate, timely and reliable testing of controls associated with Model Risk.
Ensure a consistent approach to CA testing activities across all LoBs for Model Risk outlined by the function, in accordance with standardised procedures.
Meeting agreed regulatory deadlines and targets.
Support the production of high-quality management information (MI) covering CA activities.
Increased utilisation of automation and analytics across all CA assessments.
Customers / Stakeholders
Work closely with first line operations teams to understand the processes of assigned controls.
Build strong relationships with all internal stakeholders, adopting a joined-up approach to the execution of tasks with minimum conflict, while ensuring the independence of CA.
Ensure that executive and senior management in the business, function and Compliance are advised of matters arising, and emerging trends, from assurance reviews and analysis.
Provide stakeholders with insight into CA activities, where required and support the VP / AVP in aligning standards with the Integrated Assurance Framework.
Typical Targets and Measures
Effective stakeholder management, ensuring constructive assessment outcomes.
Facilitate regular meetings with stakeholders and senior management.
Outputs (presentation decks, papers, and reports) are clear, accurate and concise.
Leadership & Teamwork
Work as part of a team, able to collaborate to accomplish common goals.
Perform assigned control assessments, taking responsibility for their successful delivery.
Operate to a high standard, in alignment with HSBC Values, leading by personal behaviour and through your interaction with others.
Embrace the high-performance culture through proactive engagement and collaboration.
Communicate effectively across CA, delivering testing results and raising issues as appropriate.
Typical Targets and Measures
Drive a high-performance culture through attendance at team meetings and 1:1s with line manager.
Maintain personal objectives set consistently across day-to-day activities.
Share best practices and highlighting issues across Model Risk and other relevant functions, as appropriate.
Operating Effectiveness & Control
Able to work independently with minimal supervision.
Provide support in developing CA procedures and templates, in collaboration with Controls Assurance Coordinator (CAC), Professional Practices (PP), Automation and Analytics and relevant SMEs, ensuring high operating standards within the division.
Provide support on any ad-hoc projects and assessments as requested by the VP/AVP.
Drive high operational standards within the team and avoid high risk findings from Internal Audit or other internal/external Assurance teams.
Be innovative in executing all responsibilities and providing solutions to complex issues in a dynamic, high-risk environment.
Typical Targets and Measures
Observation of line manager and feedback from key stakeholders.
No high-risk issues from Internal Audit reviews directly relating to CA.
Delivery of assurance activities as per the agreed plan and procedure requirement.
Major Challenges
Assist CTU in delivery of high-quality controls assessment in a designated timeframe.
Understand the underlying risk types mitigated by each assigned control, identify control gaps through operating effectiveness testing and raise issues as appropriate.
Determine innovate ways of testing controls in a precise and efficient manner, harnessing analysis of data where possible.
Be attuned to the political, management, operational, regulatory, and reputational implications of particular decisions and courses of action.
Assist management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks.
Managing the demands of the multiple and diverse aspects of the role.
Role Context
The role holder must be a team player and able to work well with the VP/AVP and other CTU members.
The role holder must be detail oriented and able to filter the right information.
The role holder is required to handle all assigned tasks, raising any issues to direct reports in a timely manner.
The role holder will be required to complete assigned control assessments, potentially covering all business lines, functions, and geographies.
The role holder will support the VP and/or AVP of Controls Assurance in ensuring that the CA assessment plan is executed as assigned, meeting HSBC risk management requirements and regulatory expectations, providing risk stewards, control owners and senior management with up-to-date information regarding standards of compliance with financial crime and regulatory compliance rules within the organisation.
The role holder is responsible for ensuring that the assurance standards in the division are in accordance with the CA guidance, Group Standards Manual and Functional Instruction Manual (FIM).
Management of Risk
Be acutely aware of the operational risks associated with business activities, considering changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
The role holder is responsible for ensuring that the testing specialists operate in accordance with CA standards.
Observation of Internal Controls
Maintains HSBC internal control standards, including timely implementation of internal and external audit actions together with any issues raised by external regulators.
To assist in the discharge of accountabilities set out in the relevant FIMs by proactively assisting Risk Stewards and Control Owners in their responsibilities.
Requirements
What you will need to succeed in the role:
Knowledge & Experience / Qualifications
Minimum of 2 years proven experience in assurance, audit, compliance or risk management within financial services or other major industries.
A good understanding of model risk and control framework including model discovery and identification, and knowledge of relevant regional laws, regulations and the overall regulatory environment preferred.
Minimum Bachelor’s degree in related field such as business, finance, law, or equivalent experience.
Ability to identify and assess the risks associated including materiality with the models
Understanding of the model risk management framework and model life cycle requirements
Awareness of model development, implementation, and use
Proven ability to multi-task and working independently under pressure to tight deadlines in a challenging and fluid environment.
Experience of process mapping and delivering professional reports and presentations gained within a financial services organisation or audit/consulting practice.
Awareness of good risk management and governance frameworks including 3 lines of defence criteria
Understanding of the activities of relevant business lines and associated compliance risks.
Strong interpersonal skills with the ability to communicate effectively and to engage with HSBC staff within the functions.
Ability to foster relationships whilst providing adequate challenge and effecting change within the model development and testing
Experience utilising assurance automation and analytics tools preferred.
Fluent in both oral and written English.
Proficient with Microsoft Office.
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.”
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 HSBC Electronic Data Processing (India) Private LTD
💡 Quick Summary
Seeking a career-building opportunity? The Manager| Model Risk| Controls Assurance| RCAS GSC|s position is now open for candidates interested in the Bank Jobs sector. This role in Bengaluru 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.
