Vice President

1 month ago

Gurugram, India HSBC Full time
Business: Risk & Compliance

Open positions: 1

Role Title: Vice President - Actuarial Independent Model Review GSC's

Global Career Band: 4

Location (Country / City) : Gurugram /Kolkata/ Bangalore

Why join us?

If you're looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. 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.

Independent Model Review (IMR) 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), IFRS9 models, Stress Testing and Scenario Analysis models, Insurance & Pensions models, Economic Capital models, Financial Vulnerability models, Pricing models and Traded 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 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.

We are currently seeking an experienced individual to join this team in the role of Senior Validator - Independent Model Review - Actuarial Models at the Risk & Compliance Centre of Excellence in India.

What you'll do:

In this role, you will:
  • Independently review and validate models and methodologies across regions, businesses, functions and risk types within the bank, including Insurance & Pensions, Asset Management & Wealth.
  • Liaise with 1LOD and other model stakeholders as appropriate to ensure model reviews and model findings are adequately resolved.
  • Communicate across technical quantitative, business and strategic levels to ensure that stakeholders understand the implications of the firm's model choices.
  • Provide 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 fit for the intended purpose and compliant with internal and regulatory expectations.

To be successful in this role you should meet the following requirements:
  • Experienced actuary (atleast 12 exams, preferably fully qualified) with over 10 years' experience in the insurance industry
  • Communicate complex technical modelling issues to senior stakeholders (Chief Actuaries, Chief Risk Officers, Chief Financial Officers, Global Heads of Functions, etc.).
  • 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
  • Manage multiple senior stakeholder relationships at global level.
  • The role is open for all three locations in India - Gurgaon, Bangalore and Kolkata with a hybrid work mode of working from office twice a week.


Requirements

What you will need to succeed in the role:
  • Strong technical knowledge of actuarial models and techniques across some of the traditional acutarial areas such as statutory valuation, risk based capital reporting (Solvency II / HK RBC / Singapore RBC2), embedded value reporting, financial reporting (IFRS17), business planning, experience analysis, product pricing etc.
  • Strong understanding of operation of par business including stochastic modelling, dynamic policyholder behaviour, modelling of management actions etc.
  • Experience of modelling (coding) in any of the actuarial cash flow modelling software (such as Prophet, RAFM) as a coder is desirable. Should have atleast worked as a model user.
  • Experience in pensions modelling would be an added bonus
  • Knowledge or awareness of model risk regulations such as SR 11-7 or SS 1/23 would be an added bonus
  • Strong communication and interpersonal skills
  • Ability to form effective relationships with model developers and owners and key senior stakeholders within the Insurance, Pensions and Wealth teams and across the Bank
  • Effective report writing skills and experience
  • High attention to detail
  • Drive to understand
  • Ability to prioritise competing demands and demonstrate flexibility to meet dynamic requirements

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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