Intern, Independent Model Review, Gsc's

**Business: Risk and Compliance**

**Open Positions: 01**

**Role Title: Intern, Independent Model Review**

**Location: Global Service Centre, India, Bangalore**

**Grade GCB7**

**Recruiter: Shubhangi Masih**

**Why join us? Role purpose**

Model Risk Management (MRM), part of Global Risk & Compliance, is responsible for providing second line of defence 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.
- 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.

Governance and Committee Memberships

N/A

**Principal Accountabilities and Responsibilities**
- Contribute towards 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.
- Contribute towards ensuring that the models and methodologies are assessed against methodological frameworks underpinning the group’s risk measurement and management initiatives.
- Contribute towards ensuring through independent assessment and validation that the models operate within regulatory boundaries.

**Leadership & Teamwork**
- 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.

Requirements

**What you will need to succeed in this role?**

Functional Knowledge

**Knowledge**:

- Knowledge of conducting model review, statistical model and scorecard development techniques.
- Knowledge of Risk models, performance metrics and risks and associated issues is beneficial.

**Experience**:

- Some experience with some statistical modelling software / programming language e.g. SAS, Python, R, Matlab, C++, VBA.

**Skills**:

- Good written and verbal communication skills.
- Team-oriented mentality.

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

Others

**The job holder will be required to**:

- Manage multiple deliverables.
- 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.

**You’ll achieve more at HSBC**

**Issued by HSBC Electronic Data Processing (India) Private LTD