Model Risk Management (MRM) at HSBC is structured as a global function, headed up by the Chief Model Risk Officer (CMRO). The MRM function reports directly to the Group Chief Risk and Compliance Officer (GCRCO) ensuring its independence from the model developing and owning areas of the firm.
MRM are the second line of defence (2LoD) for Model Risk and the CMRO is the global Model Risk Steward for the group and is also accountable for the global operation of the MRM function. MRM teams are based in each region, to ensure local subject matter expertise and to guide, review, and challenge. MRM activity is managed on a global basis as many models are used in multiple locations. This enables MRM to operate consistently and efficiently globally, and to take account of additional local regulatory requirements.
Independent Model Validation is a specialist quantitative role within the Model Risk Management team responsible for carrying out independent validations of HSBC’s model landscape, in order to identify and communicate model limitations and issues. This role is part of the Retail & Private Bank validation team.
responsibilities :
Undertake model validation activities as dictated by the Global Model Risk Policy including the assessment of; model inputs, calculations, reporting outputs, conceptual soundness of the underlying theory and the suitability of the use for its intended purpose, relevance and completeness of data, qualitative information and judgements, documentation, and implementation of the model.
Provide written reports detailing the results of validations highlighting issues identified during the validation.
Validate remediation activities completed by the ILOD to ensure appropriate resolution of identified issues.
Work with relevant stakeholders to support the embedding of new Global Model Risk Policies and Procedures.
Provide coaching and guidance to new starters and junior colleagues.
Deliver, high quality, timely validation reports that add value to the business.
Liaise with 1LOD and other model stakeholders as appropriate to ensure issues have been adequately resolved.
Communicate across technical quantitative, business and strategic levels to ensure that stakeholders understand the implications of model risks and limitations.
requirements-expected :
Master’s or PhD degree in a quantitative discipline like Financial Mathematics, Statistics, Econometrics, Quantitative Finance, Economics or Engineering.
Knowledge in Retail Credit, Stress Testing and/or Front Office Modelling and some knowledge of IRB and/or IFRS9 regulatory requirements.
Comprehensive knowledge of statistical model and scorecard development techniques.
Knowledge of Risk models, performance metrics and risks and associated issues.
Knowledge of internal procedures and local regulations and those of other country regulators would be an advantage.
Experience with some statistical modelling software / programming language e.g. SAS, Python, R, Matlab, C++, VBA.
Experience of developing and reviewing models throughout the customer lifecycle.
Experience of presenting recommendations to Senior Management.
Experience of conducting independent model reviews.
offered :
Competitive salary
Annual performance-based bonus
Additional bonuses for recognition awards
Multisport card
Private medical care
Life insurance
One-time reimbursement of home office set-up (up to 800 PLN)
Corporate parties & events
CSR initiatives
Nursery discounts
Financial support with trainings and education
Social fund
Flexible working hours
Free parking
benefits :
sharing the costs of sports activities
private medical care
sharing the costs of professional training & courses
