Verified Job
Accounting - Finance
Model Developer AVP GSCs
Accounting - Finance
#226977
Remote / WFH
Job Description
Job Description
Business: Global Private Banking & Wealth
Open positions: 1
Role Title: Model Developer - AVP
Global Career Band: 5
Location: (Country/City): India, Kolkata
Recruiter Name: Rakshita Bhargava
Why join us?
This is an exciting opportunity to join the GPB&W Models team who are responsible for the first line of defence activities in the management of models in all operating countries. The GPB&W Models team manage the entire scope of models including: Credit Risk (IRB-A IFRS+, Stress Testing), Investments, Wealth, Jade, Pricing, Derivatives, Margin trading, Netting, and provide governance for other model types including Financial Crime, Compliance, Pension Risk and Operational Risk models. The GPB&W Models team is based in the business arm of GPB&W named Investments and Wealth Solutions. Following the creation of Wealth and Personal Banking (WPB) in February 2020, the Wealth Management Products team and the GPB Products, Investments and Collaboration team were brought together to create the combined Investments and Wealth Solutions team with an expanded remit to serve the needs of all client segments from Personal Banking through to Ultra High Net Worth individuals and families. This enables the future role holder to build best in class models that serves the distinct needs of clients across the entire wealth continuum, and to support GPB&W to be the center of excellence for all product offerings.
The Opportunity:
The GPB&W Models team reports into the Global Head of Models. The purpose of the role is to manage the end-to-end regulatory and in-house requirements to design, develop, validate and implement models. In doing so, the role will be required to embed HSBC’s Global Model Risk FIM, standards, processes and policies throughout the model development lifecycle. While meeting global and local regulatory requirements to develop or manage models, the role holder will be required to interface with a wide range of senior stakeholders across the Banks three lines of defence, project sponsors in Investments and Products Group and the regulators.
What You’ll Do
Impact on the Business
• Work with the GPB&W Models team to effectively manage model risks, increase model coverage and implement globally consistent model systems, standards, policies, processes, methodologies and governance in GPB&W entities across all regions.
• Engage with GPB&W stakeholders across all booking centres in identifying local regulatory issues, feeding these requirements into model design and ensuring compliance with model risk requirements. Developing and supporting solutions that can help to manage and steer credit portfolio management.
• Contribute to operations of the GPB&W Models team framework to maintain high global standards to meet regulatory requirements from PRA, HKMA, FINMA, MAS, CSSF, and OCC, amongst others. Identify areas of model conflict and collaborate on designing common solutions. Ensure scheduled and ad hoc files and reports are accurate, complete and valid. This also extends to administering other reporting initiatives including onboarding of all types of models into HSBC’s global model inventory system (GMIS)
Business: Global Private Banking & Wealth
Open positions: 1
Role Title: Model Developer - AVP
Global Career Band: 5
Location: (Country/City): India, Kolkata
Recruiter Name: Rakshita Bhargava
Why join us?
This is an exciting opportunity to join the GPB&W Models team who are responsible for the first line of defence activities in the management of models in all operating countries. The GPB&W Models team manage the entire scope of models including: Credit Risk (IRB-A IFRS+, Stress Testing), Investments, Wealth, Jade, Pricing, Derivatives, Margin trading, Netting, and provide governance for other model types including Financial Crime, Compliance, Pension Risk and Operational Risk models. The GPB&W Models team is based in the business arm of GPB&W named Investments and Wealth Solutions. Following the creation of Wealth and Personal Banking (WPB) in February 2020, the Wealth Management Products team and the GPB Products, Investments and Collaboration team were brought together to create the combined Investments and Wealth Solutions team with an expanded remit to serve the needs of all client segments from Personal Banking through to Ultra High Net Worth individuals and families. This enables the future role holder to build best in class models that serves the distinct needs of clients across the entire wealth continuum, and to support GPB&W to be the center of excellence for all product offerings.
The Opportunity:
The GPB&W Models team reports into the Global Head of Models. The purpose of the role is to manage the end-to-end regulatory and in-house requirements to design, develop, validate and implement models. In doing so, the role will be required to embed HSBC’s Global Model Risk FIM, standards, processes and policies throughout the model development lifecycle. While meeting global and local regulatory requirements to develop or manage models, the role holder will be required to interface with a wide range of senior stakeholders across the Banks three lines of defence, project sponsors in Investments and Products Group and the regulators.
What You’ll Do
Impact on the Business
• Work with the GPB&W Models team to effectively manage model risks, increase model coverage and implement globally consistent model systems, standards, policies, processes, methodologies and governance in GPB&W entities across all regions.
• Engage with GPB&W stakeholders across all booking centres in identifying local regulatory issues, feeding these requirements into model design and ensuring compliance with model risk requirements. Developing and supporting solutions that can help to manage and steer credit portfolio management.
• Contribute to operations of the GPB&W Models team framework to maintain high global standards to meet regulatory requirements from PRA, HKMA, FINMA, MAS, CSSF, and OCC, amongst others. Identify areas of model conflict and collaborate on designing common solutions. Ensure scheduled and ad hoc files and reports are accurate, complete and valid. This also extends to administering other reporting initiatives including onboarding of all types of models into HSBC’s global model inventory system (GMIS)
