Business: HSBC Global Private Banking & Wealth Open positions: 1 Role Title: Vice President, GPB&W Models GSC’S Global Career Band: 4 Location (Country/city)- Kolkata Recruiter Name: Tanvi Mathur The Opportunity: Role Purpose (overall High Level Summary Of The Role) Some careers have more impact than others. If you’re looking for a role where you can continue to make an impression, take the next step at HSBC where your contributions will always be valued. Global Private Banking & Wealth (GPB&W) seeks to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. The role sits in Investments & Wealth Solutions (IWS) arm of GPB&W. IWS is the global front office business established to deliver an enhanced range of market leading in-house and third-party investment services and investment products as well as wealth lending solutions to all client segments across the Wealth Continuum. The Opportunity: We are currently seeking an ambitious senior modelling expert responsible for the end-to-end management of design, development, implementation and governance. The scope is across EMEA, Asia and US primarily focusing on IFRS9 and Stress Testing (ST) model development and regulatory ST exercises for all GPB portfolios. Role Purpose: You will be responsible for daily management and technical support for commercial modelling projects, strategic objectives, governance requirements and issue resolution for credit model categories in GBP&W. Scope of financial models include Stress Testing, IFRS9, Financial Reporting, Economic Capital and other key priorities for the Group. In GPB&W, the regulatory designated SMF (Senior Manager Function) for models is held by the Global Head of Models, Pricing, Product Governance, Suitability & Risk Oversight (GH). The role holder will be accountable to the GH and will be required to work closely with the GH and GPB Credit models lead to regularly provide statuses of commercial initiatives, associated risks from the business use of financial models, and prepare for all governance meetings including regulatory engagements. What you’ll do: (List out Key Responsibilities): Role Context (The environment and operating conditions of the role including the extent of guidance and authority) In this role, you will: Support the GH with day to day management of key projects, commercial targets, regulatory/governance related issues, committee engagements across HSBC Group, risk & control including people’s management across all modelling teams. Support the management of core business activities across Models, relating to: (1) Model Design, Development, Validation & Implementation, (2) Model Portfolio, Risk Analytics & Risk Mitigation, (3) Model Monitoring, Control, Standards & Documentation, and (4) Model Governance across HSBC Group, Policy & Regulatory Risk. In particular, lead the following three key areas of the department: Under Research & Development: develop and review models according to feedback or requirements from our stakeholders, prepare pre-implementation validation reports for local use (countries or legal entities), develop models specific to a country or a business if required by regulators, support annual model validations, check the run, monitoring and validation of data, develop model prototypes, implement models, UAT of the models, and maintain official model documentation. Under Model Governance: administrate global and local governance through the GPB&W Model Oversight Forum and other technical committees, IMR and Audit, oversight the global and local model output to ensure its being appropriately used, and support the local and global business teams in model use. Under Execution & Engagement: run the model, produce global and local results, rollout models to new legal entities as required, run stress tests, document the processes, calculation runs and checks, monitor the model, and statistically validate the input data (scenario and internal loss data). The role will be required to leverage HSBC’s Global Model Risk FIM, standards, processes and policies throughout the GPB&W model development lifecycle. Be the teams subject matter expert, providing support and guidance. Support the delivery of training on models across GPB&W. Delivering periodic model monitoring results, MI, KRIs and intimately tracking the teams Book of Work. Responsible to close all action items resulting from Internal Audit. Support the GH with drafting monthly, quarterly and annual governance forum and steering committee papers required for the Group CRO, CEO and Global Business equivalents. Role is strategic & across multiple markets. As an IWS wide role, the role holder will communicate regularly with various offices globally and all levels of seniority in the business, functions and all product teams. The role requires an highly professional approach, competency and ability to drive projects forward. The incumbent will have considerable autonomy in supporting the usage of models and tools to meet requirements and must exercise judgment and expertise in incorporating local requirements in global solutions and meeting other requirements with local resources. Principal Accountabilities: Key activities and decision making areas Impact on the Business Work across GPB&W to effectively manage model risks, increase model coverage and implement globally consistent model systems, standards, policies, processes, methodologies and governance across all regions. Engage with stakeholders across all areas, business functions, and regions in identifying local regulatory issues, feeding these requirements into global model program design and ensuring compliance with global and local model regulations. Contribute to the development of the global function and framework which establishes the highest global standards to meet all regulatory requirements across the Group. Identify areas of conflict and collaborate with HSBC Group on designing common solutions. Ensure scheduled and ad hoc Group data files and reports are accurate, complete and valid. This also extends to other initiatives including onboarding of models into GMIS and Credit Loss Data warehouse. Work with GPB&W Risk, Businesses and across all Functions in providing model risk identification, measurement, monitoring and control through modeling systems and analytic support. Support the GH who chairs the GPB&W Model Oversight Forum by providing effective model risk information. Escalate issues as required to the GH in matters of model validations, annual compliance/attestations and Independent Model Reviews. Interface will also be required with Internal Audit to proactively manage Findings related to Model risk when identified in GPB&W sites. Work with industry panels to keep abreast of trends in model risk, help form GPB&W’s position on emerging topics and ensure GPB&W views are considered in consultations and other rule-making processes in countries as appropriate. Grow Ensuring local and global governance forums are balanced to support business growth while meeting regulatory and Group requirements. Ensuring globally consistent control frameworks, underlying team procedures and committee desk procedures support maximum process efficiencies. Protect Ensuring all governance related frameworks are correctly documented, in line with Group and all regulatory requirements. Protect the bank by ensuring that all procedures and processes are correctly documented, updated and followed. Streamline Streamlining the model development lifecycle and increasing effectiveness for models. Ensuring that all regulatory and business projects are controlled and monitored centrally. Typical Targets and Measures Meeting Regulatory expectations for GPB&W model risk as measured by regulatory exam or comments. Increasing positive coverage of portfolios and risk. Increased use of common global processes, policies and IT systems which will enable reduction of model platforms and local-only models and processes. Reduction of 2LoD and 3LoD identified issues and resolution thereof. Manage successful compliance risk models, enhanced model capital calculations, global model governance framework and model inventory for all GPB&W. Customers / Stakeholders Working collaboratively with all Stakeholders (Compliance, Legal, Risk, Chief Control Office, Senior Management and Group Procurement). Develop IWS policies which uphold Regulatory expectations, protect the Bank and ensure consistent application of controls. Work across the CCO community to ensure key controls are captured in local RCAs and that operational issues with key controls are escalated to Senior Managers. Typical Targets and Measures Customer / stakeholder feedback. Timely and responsive communication with Audit and external parties. Leadership & Teamwork Provide leadership by interpreting regulatory requirements for identifying and measuring Model Risks across GPB&W. Implement global model governance and standards across mature and less advanced model risk sites and provide training as required. Works collaboratively with all major Stakeholders, Global Product Heads and all outsource providers. Collaborates with colleagues within the immediate team and with all local teams. In working with the direct team, regularly provide feedback on new and better ways of working, sharing ideas and best practices with the team. Typical Targets and Measures Feedback from Global and Regional Product Management teams. Feedback from colleagues and key Global and Regional stakeholders. Operational Effectiveness & Control Ensures adherence to all relevant FIM and Internal Control procedures Provides leadership and assists in driving a compliance culture across the business. Maintain cost discipline; improve efficiencies through standardisation under global framework. Establish goals and set priorities while balancing competing regulatory and management requirements ensuring proper governance and timely escalation of issues. Typical Targets and Measures Support AOP with appropriate understanding or risks and opportunities. Management of costs within AOP and escalation of issues requiring additional consideration. Find opportunities to extend team offshore. Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities) Meeting GPB&W regulatory requirements and priorities through the globally consistent modelling framework across all business and functional lines where understanding of model risk may be inconsistent. Balancing commercial sensitivity with global consistency to establish risk sensitive standards and controls. Enhancing the models framework, data infrastructure and processes to remediate known and emerging issues to meet evolving regulatory expectations within available resources through global consistency and prioritization. Optimize model coverage by expanding risk and portfolio coverage and minimizing the number of models. Global stakeholder management across all levels within the business and functions. Managing multiple tasks and effective engagement with different stakeholders Tight and timely deadline management while maintaining high quality of all deliverables. Management Of Risk (Operational Risk / FIM Requirements) 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 and also by addressing any areas of concern in conjunction with line management and/or the appropriate department. Ensures application of compliance and operational risk controls in accordance with HSBC and regulatory requirements, expectations, standards, policies, and optimize relations with regulators by addressing any issues. Adheres to local/regional/global Statement of Business Principles and Code of Ethics. 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. Adhere to, and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators. The jobholder will implement the Group compliance policy by containing compliance risk in liaison with the Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply. This will be achieved by adhering to all relevant processes/procedures and by liaising with the Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators. Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators. As appropriate for the role, ensures alignment with regulatory requirements, the Compliance of FIM, Regional BSA/AML Policy, other Group policies and all related policies and procedures. Role Dimensions Responsible for the GPB&W Model Risk Governance Framework for credit models used in the business (including Risk, Capital, Stress Testing,, etc). The models within this scope contribute USDbs of investments on a regional and global basis Requirements What you will need to succeed in the role: EEssential / PPreferred Undergraduate degree or equivalent. (E) Advanced Degree (Masters, PhD) (P) Function specific certification or degree (P) Demonstrated ability to work with the Private Banking/Wealth business or equivalent in reaching decisions and solutions. (P) Experience in Private Banking/Wealth modelling is advantageous and understanding their unique model risks when compared to other areas. (P) Experience with IFRS9, Stress Testing and IRB-A regulatory articles (PRA/HKMA/OCC/FINMA,EBA) and ability to scope them to Private Banking is advantageous. (P) History of working within the 1LoD & 2LoD to manage model risk including experience of validations and the range of regulatory reporting on models such as annual attestations is advantageous. (E) Historical achievements with regulatory approvals, IMR (Independent) assessments and RWA reductions from modelling work is advantageous. (E) Proven leadership skills in a changing environment. (P) Experience dealing with regulatory bodies. (P) Strong experience in creating best in class processes and activities. (P) Strong experience in project management. (P) Experience in dealing with multiple stakeholders. Strong interpersonal people’s skills. An understanding of investment, banking, credit and insurance products and services is an advantage. Getting results through effective management of processes; possess capacity to define problems and find effective solutions; ability to relate to people at all levels both internally and externally. Strict deadline management with project management discipline. Ability to work independently and manage business as usual tasks while also progressing elements of various projects. Confident presenter, able to present complex topics to stakeholders at all management levels. Effective presentation, interpersonal, negotiation, communication and analytical skills. Recognised strong organisational skills. Proven experience managing successfully in challenging markets. Strong experience in creating best in class processes and activities. Knowledge of authoring policies, standards, governance lifecycle process, frameworks, and Target Operating models. Knowledge of modelling. (E) Good understanding of HSBC overall business dynamics. (P) Ability to work across all levels of the organisation to understand cross-functional linkages and interdependencies, as well as the implication of risk at both a strategic level and at the business unit level. (P) Good understanding of portfolio management techniques including analytics. (P) Wide knowledge of key regulations affecting Private Banking business is advantageous. (P) Skills Coding and modelling languages such as SAS, Python, Matlab, “R”, Visual Basics. (P) UNIX and UML (Unified Modelling Language) is advantageous. (P) Excellent written and oral communication skills. (E) Enjoys compiling best-in-class documents and publishing papers. (E) Strong and proven leadership skills to develop and nurture stakeholder relationships. (P) Excellent relationship management and diplomacy skills, ability to communicate, influence and negotiate effectively. (E) Ability to think and plan as part of a Global team working across different time zones and takes personal accountability. (E) Collegiate with a solutions focused attitude and has a natural ability to navigate around challenges. (E) Skilled decision maker, able to stand firm and show necessary flexibility where required. (E) Be highly organised with attention to detail. Is a spontaneous planner and enjoys supporting people productively. 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