Job Description

Job description Business: HSBC Global Private Banking & Wealth Open positions: 1 Role Title: Model Developer - Asst. Vice President (AVP) Global Career Band: 5 Location (Country/city)- Kolkata Recruiter Name: Nisha Sharma The Opportunity: Some careers have more impact than others. If you\'re looking for a role where you can continue to make an impression, take the next step at HSBC where your contributions will always be valued. Global Private Banking & Wealth (GPB&W) seeks to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. The role sits in Investments & Wealth Solutions (IWS) arm of GPB&W. IWS is the global front office business established to deliver an enhanced range of market leading in-house and third-party investment services and investment products as well as wealth lending solutions to all client segments across the Wealth Continuum. Creating and maintaining high quality models is a key strategic purpose for HSBC. One of the most material models is the Product Risk Rating (PRR) methodology which is a key input into investment decision made by millions of clients throughout the world. Role Purpose: The PRR model is operated by analysts who have a high attention to detail, a passion for investment products and can work at pace and with high accuracy. The roleholder will be responsible for providing ratings for Mutual Funds, Bonds, Structured Products and Stocks. In addition, the roleholder will be responsible for maintaining and enhancing the platform used to provide PRRs. As an expert in investment product risk, they will also provide key enhancements into designing future state methodologies for rating investment products. Role Context In this role, you will: Meeting GPB&W product requirements and priorities through maintaining and executing the established Target Operating Model & Structure which provides a globally consistent modelling framework. Lead the application of the entire end-to-end model risk lifecycle for all model owners and users. To deliver on various services related to PRR and product mapping as per the Group policy. Co-ordinate & effectively communicate with business areas in diverse locations across the globe Work within a team positioned across multiple geographies (UK, Hong Kong, India) Perform model monitoring and validations annually which includes setting up frameworks. Continually improve governance structures that fit in with improvements in Group Model Risk Governance. Reduce non-dedicated key person risk through a sustainable and dedicated analytics capability. Reduce risk of end user computing by migrating models to production environments. The role must also develop and implement GPB&W solutions for issues not covered by global solutions and address rapidly changing requirements using both global and local solutions. What you\'ll do: (List out Key Responsibilities): Principal Accountabilities: Key activities and decision making areas Impact on the Business/Function Work with the GPB&W Models team to effectively manage model risks, increase model coverage and implement globally consistent model systems, standards, policies, processes, methodologies and governance in GPB&W entities across all regions, focusing on all GPB&W wealth and investment models. Engage with GPB&W stakeholders across all booking centers in identifying local regulatory issues, feeding these requirements into model design and ensuring compliance with model risk requirements. Developing and supporting solutions that can help to manage and steer investment and credit portfolio management. Lead programme for enhancing IT platform used to calculate PRR products. Sourcing and application of data for PRR model input Calculation of PRRs in a timely and accurate manner Liaise with product experts to incorporate necessary qualitative feedback Typical Targets and Measures Timely production, KPIs Error free production of PRR\'s after training, measured against procedures by Team Leader sign-off Clear audit trails produced, Peer review Feedback from markets and Product Managers Customers / Stakeholders Communicating effectively and in a timely manner with businesses in different regions and countries Build good relationships with input data providers to ensure accurate and timely submissions Manage expectations of downstream users of the model outputs, such as local product managers Typical Targets and Measures Feedback from markets Accurate and timely input data Governance committee feedback Leadership & Teamwork Role holder has to be an effective communicator who sets good standards for others of personal accountability and proactivity. Provide regular training and feedback to more junior analysts and team mates with specialisations in other areas Seek appropriate feedback and insight from stakeholders to ensure a culture of constant improvement is built into the culture of the team. Typical Targets and Measures Positive feedback from peers / Team Lead Be seen as a champion of sharing best practice and knowledge Operational Effectiveness & Control Adhere to Group compliance policy. Adhere to HSBC internal control standards and respective procedures document Typical Targets and Measures Audit and compliance performance. Performance of PRR function against its operating framework targets Major Challenges (The challenges inherent in the role that require a continual test of the role holder\'s abilities) Meeting GPB&W regulatory requirements and priorities through the globally consistent modelling framework across all business and functional lines where understanding of model risk may be inconsistent. Balancing commercial sensitivity with global consistency to establish risk sensitive standards and controls. Enhancing the models framework, data infrastructure and processes to remediate known and emerging issues to meet evolving regulatory expectations within available resources through global consistency and prioritization. Optimize model coverage by expanding risk and portfolio coverage and minimizing the number of models. Global stakeholder management across all levels within the business and functions. Managing multiple tasks and effective engagement with different stakeholders Tight and timely deadline management while maintaining high quality of all deliverables. Management of Risk (Operational Risk / FIM requirements) The roleholder would be required to comply with all group compliance and risk management standards and policies. The roleholder will ensure the fair treatment of our customers and ensure they are at the heart of everything we do. The roleholder should be proactively bringing to the attention of their line manager and/or the appropriate department any area of concern related to operational risk. Observation of Internal Controls (Compliance Policy / FIM requirements) Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.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 the Local Compliance Officer. The term \'compliance\' embraces all relevant financial services laws, rules and codes with which the business has to comply. This will be achieved by adhering to all relevant processes/procedures and by liaising with the 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. Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.As appropriate for the role, ensures alignment with regulatory requirements, the Compliance of FIM, Regional BSA/AML Policy, other Group policies and all related policies and procedures. Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget. in USD\'000) The jobholder will support the GPB&W Models team across all relevant wealth markets. The PRR model covers all Investment products sold within HSBC.The model is directly used in investment sales which generate in excess of $2bn per annum. Requirements What you will need to succeed in the role: E=Essential / P=Preferred Minimum Qualifications (E=Essential / P=Preferred) Undergraduate degree or equivalent. (E) Advanced Degree (Masters, PhD) (P) Function specific certification or degree (CFA, CA, FRM, etc.) (P) Minimum Competencies Experience or knowledge in investment products Past experience using data intensive models, either in a development, usage or validation capacity Statistical analytic software language skills: Python/R/SAS Excellent MS Excel knowledge and experience Good analytical skills, an eye for detail and an ability to understand and interpret numerical information Fluent ability to speak English Excellent communication and interpersonal skills - both verbal and written Knowledge Sound knowledge in the area of wealth and investment modelling of a wide variety of financial instruments from vanilla products to exotic derivatives. Good understanding of HSBC overall business dynamics. Ability to work across all levels of the organisation to understand cross-functional linkages and interdependencies, as well as the implication of risk at both a strategic level and at the business unit level. Good understanding of portfolio management techniques including analytics. Wide knowledge of key regulations affecting Private Banking business is advantageous. Transferrable skills are welcome. Link to Candidate User Guide: ( Or) Go to the below link and type \'IND GSC: IJP Applicant User Guide\' in search bar. 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.\' 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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