Model Risk Management Lead - Wholesale Credit Risk Analytics

HSBC Global Services Limited; London; Hybrid; GBP 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Model Risk Management Lead to navigate the complexities of regulatory compliance and model governance. This role involves leading remediation efforts for SS1/23, collaborating with global teams to ensure adherence to new standards, and managing diverse stakeholders. With a focus on fostering a culture of risk awareness and continuous improvement, this position offers a unique opportunity to influence strategic decisions while enhancing your professional development. Join a forward-thinking organization that values diversity and innovation in the financial sector.

Benefits

Private Healthcare

Enhanced Maternity and Adoption Pay

Contributory Pension Scheme

Professional Development Opportunities

Qualifications

• Strong understanding of SS1/23 and model governance.
• Experience in banking or consultancy with a focus on model risk.

Responsibilities

• Lead remediation work for SS1/23 compliance across models.
• Engage with stakeholders to define remediation plans.

Skills

Regulatory Compliance

Model Risk Management

Project Management

Analytical Thinking

Presentation Skills

Education

Bachelor's Degree in Finance or Related Field

Professional Certification in Risk Management

Tools

Microsoft Office Suite

Project Management Software

Job description

Some careers open more doors than others.

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

Our Risk and Compliance function has a critical role to play in supporting, challenging and advising across all areas of the business through establishing policy, monitoring profiles, and identifying and managing forward-looking risk and compliance. We focus on creating an environment that encourages our people to speak up and do the right thing, as well as protecting our customers, the organisation and the integrity of the financial markets in which we operate. Already an industry-leader in many respects, we want to continue setting standards and evolving to respond to strategic changes.

As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package. This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.

We are currently seeking an experienced individual to join this team in the role of Model Risk Management Lead.

The environment in which HSBC operates is subject to increasing regulatory change – with major changes to the regulation governing model development and model usage. The PRA has recently published new Model Governance standards (SS 1/23) and HSBC has aligned its revised Global Model Risk Policy to these new standards. The Wholesale Credit Risk Analytics (WCRA) function now needs to enhance its legacy models to ensure compliance with the new policy.

The Model Risk Management Lead will support the Professional Practices team with remediation of SS1/23 for wholesale credit risk analytics models. You will manage a significant number of internal stakeholders and will be able to demonstrate progress in SS1/23 remediation. You will also support senior management in understanding the impact of regulatory proposals on the business.

In this role, you will:

• 
  Lead the remediation work from a centralized perspective, understand and support the work being executed by model owners in global and regional teams
• Engage with multiple stakeholders, inside and outside WCRA, to ensure model owners’ remediation plans are properly defined to achieve SS1/23 compliance
• Promote collaboration with different modelling teams globally to ensure consistent approach to achieve compliance with SS1/23 objectives
• Actively contribute to building rigorous governance processes to manage model risk across the WCRA model landscape, ensuring processes are properly documented and well understood
• Support implementing and maintaining risk controls for WCRA
• Prepare and communicate reports to track progress of implementation against key SS1/23 milestones, offering different views (per area, model type, etc.) and adapting them to different level of seniority
• Organise training sessions, workshops, working groups and other forms of interactions among individuals in different teams across WCRA
• Act as Project Manager with ability to mobilise, start and complete projects end-to-end for SS1/23 deliveries and other areas, engaging with relevant stakeholders and ensuring traction
• Produce new documentation or changes in the existing ones required as part of the implementation work
• Support establishment of best of breed control environment for WCRA, proactively enforcing controls
• Prepare to respond to internal and external reviewers and auditors, as well as regulators across different countries.

To be successful in this role you should meet the following requirements:

• 
  Strong understanding of the regulatory environment in which the bank operates, in particular SS1/23
• Strong understanding of model risk, model governance and controls
• Ability to autonomously drive delivery of projects within the agreed timescale, in liaison with all relevant stakeholders (team colleagues, model owners, credit, business, IT, senior management and regulators)
• Good understanding of modelling process, model life cycle, wholesale credit processes and products
• Significant/relevant working experience in a bank, rating agency, consultancy or advisory firm
• Organised, analytical thinking and problem-solving skills
• Ability to prepare clear and effective presentations, documents, trainings and workshops

The base location for this role is London – Hybrid working

You’ll achieve more when you join HSBC.

Opening up a world of opportunity

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.

We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long term conditions or neurodivergent candidates who meet the minimum criteria for the role.

If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:

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