Job description

At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.

Our Assistant Vice President (AVP), Quant Modeling - Stress Testing will be responsible for designing, developing and maintaining pre-provision net revenue (PPNR) models used in bank stress testing (CCAR). You will be responsible for establishing fit-for-purpose models, with strong governance and analytics

About Us

HSBC is one of the largest banking and financial services organizations in the world, with operations in 64 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfill their hopes and realize their ambitions.

On a typical day your activities could include the following:

• Working with business partners to provide financial and technical analysis and recommendations regarding current and/or proposed PPNR models.

• Working with businesses, risk and finance teams to submit and validate data and analyze the consolidated results.

• Production of the final regulatory 14A submission and data quality assurance of the submission; and partnering with other CCAR teams such as documentation, process or review and challenge in order to provide and analyze results.

• Implementing/onboarding models developed onto in house developed model execution platform.

• Model development, validation and model execution platform code maintenance and enhancement.

• Adhere to the governance standards established for scenario design, including, but not limited to the review and approval of key decision items by the U.S. CFO, U.S. CRO, Head of Strategic Planning and Stress Testing, and U.S. head of Central Scenarios and Modeling

• Ensure that the models are developed as per established framework.

• Help identify drivers related to individual businesses, and incorporate them in proposed models.

For this role, HSBC targets a fixed pay range between $117,700 and $176,600.

The final fixed pay offer will depend on the candidate and a number of variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

At HSBC, our overall goal is to provide a competitive Total Reward Package, with an appropriate mix of fixed pay, and variable pay, as part of an employee’s overall total compensation and benefits. Variable pay generally takes the form of discretionary, annual awards (sometimes referred to as a “bonus”). Additionally, HSBC offers a wide range of competitive and flexible benefits designed to help you improve your health and well-being, finances, and lifestyle.

Requirements

Employment eligibility to work with HSBC in the U.S. is required as the company will not pursue visa sponsorship for these positions.

• Minimum of two years of combined proven experience in the following areas - Economic Research, Economic Forecasting, Credit Risk Management, Market Risk Management, Model Development, Model Review, Model Implementation, Data Science or equivalent. Financial Services industry experience preferred

• Advanced (masters or PHD equivalent) degree in a quantitative (e.g. science, mathematics, engineering, econometric, financial engineering) field.

• Proficiency in programming language (e.g. Python) required

• Proficiency in Microsoft Office suite required

• Experience in statistical model development

• Basic knowledge of bank stress testing and CCAR requirements

• Strong ability for problem solving and attention to detail

• Strong communication, analytical, and presentation skills

As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming, diverse and inclusive work environment. You will be empowered to drive HSBC’s engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You’ll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future!

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

HSBC is one of the world’s largest banking and financial services organizations. Our global businesses serve around 39 million customers worldwide through a network that covers 62 countries and territories. Our customers range from individual savers and investors to some of the world’s biggest companies, governments and international organizations. We aim to connect them to opportunities and help them to achieve their ambitions.