Job Description

Job descriptionLocation (Country / City ): India/BangaloreThe Opportunity:Model Risk Management (MRM), part of Global Risk & Compliance, is responsible for providing second line of defence for HSBCs model risk. Model Risk Management comprises of five key areas, led by the Chief Model Risk Officer:

• Independent Model Review - Independently reviewing and (re)validating models and methodologies across functions and risk types within the bank.
• Model Risk Governance - Setting the firms model risk policies and standards as well as ensuring that model risk is managed within the approved tolerance levels.
• Model Risk Stewardship - Facilitating responsible development, understanding and use of models and analytics, as well as providing subject matter expertise, advice, guidance, and effective challenge across regions, businesses and functions.
• Regulatory Standards and Quality Assurance - Providing expertise and partnering to Senior Management for reviewing and decision making, by developing opinions and interpretations of relevant regulatory changes impacting model risk.
• Infrastructure - Providing Global Model Inventory System (GMIS) management, maintenance and user engagement, along with report production and technology enhancements.

Independent Model Review (IMR), is a specialist quantitative team and are responsible for carrying out independent validations of HSBCs 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), IFRS9 models, Stress Testing and Scenario Analysis models, Economic Capital models, Financial Vulnerability models, Pricing models, Traded Risk models and Insurance Risk models. This includes the traditional model types as well as modern approaches such as machine learning (ML) and artificial intelligence (AI) techniques.Independent Model Review provides independent challenge of a models 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.Governance and Committee MembershipsN/AWhat youll do:Principal Accountabilities and Responsibilities

• Independently reviewing and (re)validating models and methodologies across regions, businesses, functions and risk types within the bank, including Retail and Wholesale Credit, Traded Risk, Global Banking & Markets, Financial Vulnerability, Finance, Stress Testing, Wealth, Insurance & Pensions.
• Providing model users, senior management, audit & regulators (across 1LOD, 2LOD, 3LOD) with confidence that the models and tools developed, maintained and used within the Group are compliant with internal and regulatory expectations and fit for the intended purpose.
• Liaising with 1LOD and other model stakeholders as appropriate to ensure model reviews and model findings are adequately resolved.
• Maintaining sufficient consistency of model reviews, fully participate in quality assurance reviews focusing on quality, presentation and consistency of Independent Model Review reports.
• Effective communication across the modelling community to ensure Model Users and Model Developers understand the implications of their model choices.
• Ensuring that the models and methodologies are assessed against methodological frameworks underpinning the groups risk measurement and management initiatives.
• Ensuring through independent assessment and validation that the models operate within regulatory boundaries.

Leadership & Teamwork

• Provide support to members of the Independent Model Review teams and wider Model Risk Management team across the bank.
• Interaction with model developers to obtain evidence as part of model review work.
• Interaction with model owners (and other relevant model stewards) to coordinate model reviews and to report and discuss key findings.
• Strong communication to ensure all findings and recommendations are clearly understood.
• Support the interaction with Group Internal Audit on model related audits, MSIIs and audit issues.
• Help build management, regulatory, and external confidence in all models used across the group.

RequirementsWhat you will need to succeed in the role:Functional KnowledgeKnowledge:

• 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.
• Detailed knowledge of statistical model and scorecard development techniques.
• Knowledge of Risk models, performance metrics and risks and associated issues.
• Knowledge of internal procedures and local regulations and those of other country regulators.

Experience:

• Experience with some statistical modelling software / programming language e.g. SAS, Python, R, Matlab, C++, VBA.
• Experience of developing and reviewing models throughout the customer lifecycle.
• Experience of presenting recommendations to Stakeholders.
• Experience of conducting independent model reviews.

Skills:

• Ability to present complex statistical concepts and results to non-technical audiences in a clear and unambiguous manner.
• Team-oriented mentality combined with ability to complete tasks independently to a high quality standard.

Qualifications:

• Degree in a quantitative discipline like Financial Mathematics, Statistics, Econometrics, Quantitative Finance, Economics or Engineering.

OthersThe job holder will be required to:

• Manage multiple stakeholder relationships.
• Communicate complex technical modelling issues to, and deliver credible feedback to, Model Users and Model Developers.
• Liaise with Regional Model Risk Management teams and other teams within Independent Model Review to best manage the reviewing of models across all legal entities, regions, businesses and functions across HSBC.
• Have strong and broad technical expertise encompassing modelling of various product types and jurisdictions
• Contribute to enhancing model risk management and understanding across the bank.
• Work in a rapidly changing regulatory environment and with a dynamic model delivery schedule, often within short timescales.

Youll achieve more at HSBCHSBC 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.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***

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