Analyst, Independent Model Review Conduct and support the validation
and independent review of Risk and Markets models. Provides independent
assurance that the covered models are fit for purpose. The second line
of defense in Model review independently assesses whether the models are
fit for their stated purpose, including proposals for remediating
weaknesses and strengthening model performance. **Impact on the Business
** * Review and provide quantitative assessment on the models including
their theoretical soundness, assumption, limitations, consistency,
stability, and calibration. Model risk assessment is the focus. *
Maintain sufficient independence from the development, implementation
and management of the risk and capital tools/ systems so as to remain
unbiased and independent as defined and required by the regulations. *
Support to validate and review all local risk and markets models and
analytical tools used in the estimation of the risk parameters which
support the economic capital, stress testing and capital plan estimates,
credit reserves (inclusive of derivatives), relationship pricing and
profitability. **Customers / Stakeholders ** * MOC committees, including
HNAH MOC, GM MOC, HNAH ValCom, WCMR, Finance RCRC, etc. * Internal Audit
- External Audit/Regulators * Model Owners **Leadership & Teamwork ** *
Driving coherence of IMR approach across relevant regions and risk
categories * Co-operative relationship with model owner and developers
to enhance HSBCs model landscape via constructive dialogues * Be an
effective team player through collaboration, providing support,
communication, initiative etc practices. **Operational Effectiveness &
Control ** * Cost-efficient related IMR Function * Stewardship across
relevant area, driving consistency where appropriate and allowing for
flexibility where necessary * Stewardship over all related regulatory
and compliance matters and the management of operational risk. * To
implement the Group compliance policy locally by containing compliance
risk in liaison with the Head of Group Compliance, Global Business
Compliance Officer, Area Compliance Officer or Local Compliance Officer,
ensuring adequate compliance resources and training, fostering a
compliance culture and optimizing relations with regulators. * Complete
other responsibilities, as assigned. Major Challenges * The
principal challenge of the role is to provide constructive feedback to
model owners and developers within a highly skilled, quantitative
environment, and to constantly re-balance changing and challenging
external / regulatory expectations and internal business needs. * Broad
role encompassing all Global Functions and Global Businesses and risk
categories as well as a wide range of local and FCA regulatory
requirements. Role Context * Utilize industry best practices,
advanced modeling techniques, supplemented by expert judgment and
qualitative evaluation, to help drive a program of validation and
independent review that meets the requirements and framework as defined
by local and Group policy and provide credible independent challenge.
Retail IMR * Conduct & support the validation and independent review
of Risk models, Economic capital models, Stress testing models, AML and
sanctions models, RWA calculator, Risk Strategy models and fraud and
operational risk models and Broker dealer reporting framework in
accordance with the internal & external/regulatory guidelines. * Support
to validate AML compliance models in line with regulatory guidance and
industry best practices. * Provide support to review methodology and
framework of HNAH RWA calculation process for appropriateness and
conceptual soundness. * Provide support to review the appropriateness
and relevance of the assumptions used to support the framework. *
Analyze, design and execute a comprehensive and granular program of
backtesting and benchmarking to support the validation of the risk
rating system. Markets IMR * Markets IMR is a global quantitative
team responsible for independent review and approval of the Front Office
(FO) models required for official reporting purposes, traded risk models
(Market Risk and Counterparty Risk), Balance Sheet Management (BSM)
models, Asset Liability and Capital Management (ALCM) Models, and Asset
Management Group (AMG) models. The members work closely with Front
office, desk quants, risk managers, IT developers, etc. * Primary job is
to assist review and validation of FO, traded risk, ALCM, BSM and AMG
models including yield curve models, interest rate models, fixed income
product models, derivative pricing models (EM, FX, metals, interest
rate, equity, etc), behavioralization models, PPNR models, funding and
capital management models, liquidity risk models, currency risk models,
asset management models, traded credit and market risk models (VaR,
Stressed VaR, IRC, ICVaR, CVA, OCI, OTTI, etc.), and counterparty risk
models. **Management of Risk ** * Ensure compliance, operational risk
controls in accordance with HSBC or regulatory standards and policies;
and optimize relations with regulators by addressing any issues. The
physical demands/work environment described above are representative of
those that must be met by an employee to successfully perform the
essential duties of the job. Reasonable accommodations may be made to
enable individuals with disabilities to perform essential duties. *
Physical Demands/Work Environment: Very good working conditions. Little
or no physical demands. Minimal handling of light materials. The
physical demands/work environment described above are representative of
those that must be met by an employee to successfully perform the
essential duties of the job. Reasonable accommodations may be made to
enable individuals with disabilities to perform essential duties. * Help
prepare HBUS and HNAH to be qualified for Basel AIRB by the established
deadline and maintain a strong risk management function. * Provide
analytical support to give feedback in the form of written reports to
the Credit Review & Risk Identification team, to the Head of Credit Risk
Management and to the Reviewee. Help file copies of all reports with the
Chief Risk Officer. * Keep updated with industry best practices and
changing regulatory environment. * Promote an environment that supports
diversity and reflects the HSBC brand. Ensure that Independent Reviews
and Validations of Global models specifically address the
appropriateness of the models to the local portfolios. Where necessary,
augment Global reviews with additional analysis to meet local
requirements. As required, participate & help in the review and
validation of the local and global economic and stress testing capital
models. Observation of Internal Controls * Maintains HSBC internal
control standards, including timely implementation of internal and
external audit points together with any issues raised by external
regulators. * Support Implementation of Group compliance policy locally
by containing compliance risk in liaison with the Head of Group
Compliance, Global Business Compliance Officer, Area Compliance Officer
or Local Compliance Officer, ensuring adequate compliance resources and
training, fostering a compliance culture and optimizing relations with
regulators. * As appropriate for the role, ensures alignment with
regulatory requirements, the Compliance of FIM, HNAHs BSA/AML Policy,
other Group policies and all related policies and procedures. Retail
IMR_ _ * Bachelors degree in Business, Mathematics, Finance,
Statistics, Industrial Engineering, Operations Research, or related
filed and 3 years of experience in job or 3 years in related position. *
Three years of credit and financial services experience or equivalent,
including experience in advanced economic or regulatory credit risk
management, credit risk modeling or wholesale lending, ICAAP, EWST,
economic capital, credit audit, credit analysis or equivalent. * High
level knowledge of AML framework and processes. * High level
understanding of commercial and retail credit processes, including
credit risk assessment and systems as well as econometrics, statistics,
simulations and credit products. * High level knowledge of financial
risk modeling and analysis, including credit risk and economic capital
required. * High level understanding of the changing regulatory
environment, OCC 2011-12 guidance, Basel II and Basel III guidance, CCAR
guidelines. * Experience with analytical processes used to model complex
portfolios, products and counterparties preferred but not mandatory. *
High level understanding of retail credit risk, wholesale credit risk,
ICAAP, EWST, economic capital concepts will be a plus. * Strong
analytical and assessment skills; High degree of problem solving
ability; proven mathematical aptitude. * Strong technical aptitude to
include writing code in SAS, SQL etc. Proficiency in MS word and excel
required. * Flexibility to changing requirements and priorities of the
business * Strong organization and follow-up skills; ability to
effectively multi-task and prioritize workflow in a high-volume
environment; Self starter. * EMPLOYER WILL ACCEPT ANY SUITABLE
COMBINATION OF EDUCATION, TRAINING OR EXPERIENCE. Markets IMR_ _ *
Master degree in a quantitative or computational filed (Finance, Maths,
Statistics, Physics, Financial Engineering, Computer Science) is
strongly preferred. Highly experienced candidates with BS degree will
also be considered. * Strong background in mathematical finance,
statistical analysis, and/or derivative pricing models. 0-2 years of
quantitative experiences in model development or model validation in the
financial industry. * Must have solid programming skills such as C++,
C#, Java, SAS, S-Plus, R, VBA, SQL, Python, Matlab, etc. Familiarity
with Microsoft Office applications. Leading quantitative platform/system
knowledge (such as Summit, Calypso, QRM, PolyPaths, etc.) is a plus. *
Excellent verbal and written communication skills. Must be able to
explain complex and/or technical matters clearly, accurately and simply.
Need to interact daily with business areas, traders, desk quants, model
review team members, market risk and credit risk managers, product
controller, and IT developers. * Organized, detail-oriented and
self-motivated. Work hard, smart, productive, business driven, be able
to delivery under pressure. Ability to work in a team. * Regulatory
stress testing experience (such as CCAR/DFAST) is a plus.
EEO/AA/Minorities/Women/Disability/Veterans **Primary Location: **North
America-United States-Illinois-Arlington Heights **Work Locations: **
**Job: **Risk Management **Organization: **HSBC **Schedule: **Full-time
**Job Posting: **May 8, 2018, 9:15:05 PM **Shift: **Day Job