Vice President

2 weeks ago


Gurgaon, Haryana, India HSBC Full time

Some careers have more impact than others.

If you're looking for a career where you can make a real impression, join HSBC and discover how valued you'll be.

HSBC is one of the largest banking and financial services organisations in the world, with operations in 62 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 Vice President .

Principal responsibilities

Model Risk Management (MRM), part of Global Risk & Compliance, is responsible for providing second line of defense for HSBC's 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 firm's 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 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, 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 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. 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. Requirements Minimum 13+ years of experience of financial model validation/development experience in Risk Management in Wholesale/Retail domain (PPNR would be preferable) At least master's degree in mathematics, Statistics, Economics, Engineering, Computer Science, Management, or other quantitative fields of study Candidate should have worked on either development or validation of econometric forecasting PPNR models for key Balance sheet and income statement line items for capital and business planning purposes. This includes the calculation of Net Interest Income ("NII"), Non Interest Revenue ("Non-NIR"), Interest Rate Exposure ("IRE"), Economic Value Sensitivity ("EVS"), and other associated PPNR/Interest rate risk metrics. Model development/validation experience in other Finance and Credit Risk areas is also desirable. Candidate should have understanding of statistical techniques such as Time Series Analysis, Panel Regression, Error Correction Models, Seemingly Unrelated regression, Co-integration, and Linear/Logistic Regression. Candidate should be able to effectively steer stakeholder conversations with FLoD including Model developers/Sponsors/Business, etc. He/she should be able to effectively contribute in developing or maintaining a comprehensive model validation framework that adopts a consistent approach to data quality and modelling methods, audit, back test, tracking, Annual/Semi Annual/Quarterly validations. This is critical in regulating, monitoring and reducing the model risks. Candidate should have well-rounded understanding of various other mandatory regulatory expectations such as CCAR -FRB/OCC/PRA ACS Stress Test guidelines and SR 11-7. Person should be familiar with concepts of time series modelling and its use in different stress testing exercises. Candidate should have good understanding of Wholesale/Retail - AIRB/CCAR models as well as basic understanding of different wholesale portfolios such as Corporate, NBFI's, SME, MME and Large and global enterprises etc. or Retail Portfolios such as Cards, Mortgages, Payrolls, PILs, DDA Deposits, Time Deposits, etc. He/she should be able to validate models used for different regulatory perspective such as OCC/FRB, EBA Guidelines and PRA regulations. Enthusiasm for proactively seeking, exploring and developing use cases for new data and/or tools/wider industry trends Candidate should be able to go through vast range of documentation and come up with concise set of questions highlighting model risk in the model.

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."



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