Role Title: Stress & Scenario Calibration Analyst
Business: Risk Management
New or Existing Role? Existing
- The Traded Risk team measure and monitor traded credit and market risks globally through various risk measures, to meet internal control and external regulatory requirements
- The team provide various reportable data and derived data to internal and external stakeholders, including regulators, on an ongoing basis. This data includes, but is not limited to, exposure; limit; capital and stress testing reporting. Where teams are responsible for reporting, it is expected that this is performed within a well structured and robust control environment taking cognizance of any internal or external control and governance requirmeents.
- The team also assist in defining responses to new regulatory initiatives and articulation of common global operating models. This takes the form of new procedures, as well as specification of business requirements to support the design and enhancement of systems.
- The nature of the role varies between BAU, process/functional enhancements and strategic initiatives. The person will be expected to work on processes and projects driven by Regulatory demand or the Business and therefore impact both the standing of the bank with its Regulators and its ability to grow.
- Responsible for:
- Delivering analysis and expertise on Market Data and Risk Factors within Traded Risk,
- Relationship manager with Market Risk Managers
- Delivering High Standard MI reporting/analysis
- Supporting risk model efficiency and on-going validation
- Work as a subject matter expert on your area, e.g. IR & FX
- Maximize usage and quality of data within your area of expertise
Impact on Business
- Participate in market and traded credit risk policy development.
- Coordination, tracking and delivery of reporting responsibilities to appropriate quality levels within SLA's
- Evidencing of necessary controls and checks underlying reporting
- Manage scope extensions and process improvements to BAU reporting
- Define new processes and project engagement to embed these as appropriate
- Ad hoc duties e.g. establishing new controls, participating in working groups, new initiatives, regulatory driven impact studies
Customers / Stakeholders
- Front Office, Middle Office, Relationship Managers & Credit Approvers
- Market & Traded Credit Risk Management & Control Teams
- WMR Global Reporting, Regulatory & Methodology teams
- WMR Transformation and other Change teams
- Risk Strategy Team (i.e. Central Team)
- GSC offshore teams
- Audit, ORIC, BRCM
Leadership & Teamwork
- Ability to build relationships and network with stakeholders located in different regions (Asia, Europe and the Americas).
- Team player with strong interpersonal and stakeholder management skills.
- Assist on special projects and system implementation for market and trading credit risk systems.
- Promote an environment that supports diversity and reflects the
- HSBC brand.
- Provide support to line management as necessary
- Provide support and guidance to Traded Risk Functions
Operational Effectiveness & Control
- Coordinate and deliver periodic reporting responsibilities
- Ensure completeness, accuracy and quality assurance
- Delivery on a timely basis and within SLA
- Prepare daily, periodic, and ad hoc risk reporting as well as limit
- monitoring at the appropriate levels of the reporting hierarchy.
- Maintain permitted instruments list governing permitted
- Assess and enhance internal controls within the risk reporting environment.
- Reconcile differences between risk figures produced by trading and back office systems and perform basic analysis.
- Working in a dynamic regulatory environment that requires continuous process improvement and evolution, often to tight deadlines
- Acquire subject matter expertise for given domain, and be able to act as the main contact for procedural and context driven questions
- Ensure high standards are maintained and manage inherent operational risk
- Meet demanding timelines and coordinate stakeholders within those timelines
- Work collaboratively with different stakeholders across cultures and time zones
- Being able to adapt as the scope or timeline of a process changes
- Being able to understand, measure, monitor and resolve risks, issues and dependencies as they arise during processes and projects.
- The role has extensive responsibility for:
- global definition of processes through SME
- interaction, where appropriate with external bodies, to support definition of industry responses to new regulation
- coordination with various HSBC functions, including Traded Risk Management, Traded Risk Control, Traded Risk Change Delivery, Software Delivery, and Risk Strategy amongst others.
- preparation of MI, and supplementary evidence, for senior management to support the global sign off and onward reporting of data
- The individual will be a member of the Global Traded Risk Control team and work alongside global and regional risk managers and risk controllers to support definition of global processes and acquisition of global data to support internal MI and control needs, alongside external regulatory reporting requirements.
- Identification, measuring and control of risk exposures vs. limits for the bank and affiliates'
- assets and liabilities (i.e. trading and non-trading books) on existing and prospective products.
Management of Risk
- Adherence to processes and controls to identify and mitigate risks and ensure timely escalation of control issues and reputation risks.
- Demonstrate leadership on regulatory and compliance matters. Maintain awareness of risk and minimise the likelihood of it occurring through its identification, assessment, mitigation and control.
- The jobholder will continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring. Also by addressing any areas of concern in conjunction with line management and/or the appropriate department
- Be aware of the Operational Risk scenario associated with your role and act in a manner that takes account of operational risk considerations.
Observation of Internal Controls
- Maintains HSBC internal control standards and addresses internal and external audit points and/or any issues raised by regulators in a timely manner. Fosters a compliance culture within the team, managing compliance risk and ensuring that the necessary training is completed. Optimises relations with regulators.
- Understand, follow and demonstrate compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which you are involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy.
Knowledge & Experience / Qualifications
- Educated to degree or post graduate level, and ideally in a numerate subject.
- Pricing or Valuation Control experience, more specifically understanding of IPV (Independent Price Verification) processes, bootstrapping techniques, model parameters controls, statistical techniques and data cleansing
- Experience on market data management, data cleansing and sourcing
- Experience in analytical reporting, e.g. explain of a transformation by decomposition
- Proven relevant working experience in a Global Markets environment, with relevant exposure in the risk industry an advantage
- Have an understanding of market or credit risk management techniques, systems, processes and functions including VaR/Stress Testing and the Greeks, ideally through line experience.
- Product knowledge across multiple assets classes - Fixed Income, Equity, Commodity, FX, etc.
Relevant work experience
- Exposure to a control environment, with an understanding of credit and/or market risk reporting processes a plus
- For GCB5, experience would generally be in the region of 2 - 5 years, however this is only indicative and may vary by geography
- Independent, driven, self-motivated approach, with a strong eagerness to learn and grow along with the capacity to work collaboratively as part of a team
- Be prepared to provide critical thinking on existing processes with a view to drive process improvements and deliver efficiency gains
- Experience in prototyping tools (e.g. Excel) to report or detect outliers.
- Experience with market data software e.g. Asset Control, Reuters, Bloomberg
- Excellent English communication skills (verbal and written) - the ability to communicate effectively and efficiently at a global level is paramount.
- Team player with strong interpersonal and stakeholder management skills.
- Focused and delivery-driven with ability to meet tight deadlines, multi-task and prioritise appropriately in a fast moving and often evolving environment.
- Hands on approach required and willingness to take personal accountability
- Pragmatic decision making capability.
- Proficient in typical desktop tools including Microsoft Office to Excel VBA level
- Understanding and knowledge of recent regulatory changes in Banking.
- Finance related qualifications e.g. CFA, Masters in Finance, ACA
- Familiarity with risk driven capital requirements and reporting
For more information about the relevant additional checks for this role please contact the hiring manager.
We are an equal opportunity employer and are committed to creating a diverse environment.