- This role forms part of the Global Financial & Model Risk Regulatory Policy & Engagement team [KW1] based in London. The jobholder is expected to work closely with Regulatory Reporting Enhancement Programme (RREP), GRA, Traded Risk teams providing regulatory analysis and insight on changes impacting HSBC's Trading Book. The focus will be placed on current Market Risk Standardised Approach (SA) for Basel 2.5 and CRR, including regulatory policy interpretations and supporting traceability activities.
- The individual is also expected to support requirement gathering and user acceptance testing of the IT deliveries within the RREP initiative.
Impact on Business
- Provide guidance and opine on regulatory policy specifically on current Market Risk Standardised Approach.
- Drafting policy interpretations and opinions.
- Support requirement gathering and user acceptance testing of the IT deliveries as part of RREP initiative.
Customers / Stakeholders
- Global Regulatory Policy and Engagement Team, Market Risk Functions, Traded Risk Senior management team, GRA Heads and Policy leads.
- Finance - Group Regulatory Policy and Regulatory Reporting teams.
- Regulatory bodies - in particular the PRA supervisory and modelling teams.
- IT - Developers and IT Leads for the RREP initiative.
- Financial Risk Transformation - Project Management and Programme leads
Leadership & Teamwork
- Work together with business experts from the GRA and Traded Risk teams and stakeholders to develop appropriate regulatory opinions and policy solutions.
- Provide leadership on providing regulatory guidance and policy opinions, including clear communication of the current regulatory rules for Market Risk SA to Traded Risk and GRA stakeholders.
- The role holder will be expected to work with Global policy leads, GRA and Group Traded Risk teams to provide compliance guidance for current Market Risk SA regulatory requirements unpinned by Basel 2.5 and CRR and answer specific policy questions.
Operational Effectiveness & Control
- Provide feedback to global GRA and Traded Risk teams relating to regulatory compliance, policy, standards and documentation.
- Provide clear requirements to IT and Transformation leads and perform rigorous user acceptance testing to ensure timely delivery of and robust IT builds.
- The RREP initiative is a highly visible deliverable for Traded Risk with strict delivery timelines. The jobholder needs to be able to work to complete their deliverables in a timely fashion whilst ensuring rigorous analysis of regulatory compliance and user acceptance testing with autonomy.
Role Context Financial and Model Risk Regulatory Policy and Engagement team is responsible for the provision of guidance on regulatory risk matters, regulatory policy interpretation and industry engagement. The team covers Wholesale Risk, Market Risk, Treasury Risk Management, Pensions, Global Risk Analytics and Model Risk Management. The role is located in Global Risk Analytics, Capital, Liquidity and Finance Risk and has a global reach. The jobholder is required to provide regulatory analysis and advice for current Market Risk Standardised Approach roles and will be expected to work in a global team context. Strong familiarity with current Market Risk SA regulations for Basel 2.5 and CRR is a must. The job holder is also expected to have requirement gathering and user acceptance testing experience
- Educated to university degree level or equivalent and, and it would be desirable for them to hold a relevant professional qualification (FRM, CFA)
- Experience in Global Banking & Markets. Experience in Wholesale Credit is also desirable.
- Strong knowledge of the regulatory landscape particularly relating to Market Risk Standardised Approach (Basel 2.5 and CRR) or previous experience in a Regulatory Capital policy function
- Experience of dealing with regulators is preferable
- Some understanding of statistics and concepts of the risk modelling process would be advantageous
- Ability to lead, manage and successfully deliver within the agreed time scale, in liaison with all relevant stakeholders: model owners, business, finance, senior management and regulator
- Strong written and verbal communication skills
- Deliver high quality work within timelines
- Flexibility to work with colleagues and key stakeholders in an international team
As a business operating in markets all around the world, we believe diversity brings benefits for our customers, our business and our people. This is why HSBC is committed to being an inclusive employer and encourages applications from all suitably qualified applicants irrespective of background, circumstances, age, disability, gender identity, ethnicity, religion or belief and sexual orientation.
We want everyone to be able to fulfil their potential which is why we provide a range of flexible working arrangements and family friendly policies
We are an equal opportunity employer and are committed to creating a diverse environment.
- Regulatory Rules - PRA / SRR / Trading book in market risk
- Communication written and speaking with senior
- Rules and understand - Strong communication
- Traceability exercise - Compile and review assessment
- Understand and review / challenge business solutions.
- Compile test scripts
- Act as a Junior PM
- BASEL 3 - Market Risk (Develop and implementation)
- Compliance to rules for regulator (traceability work to make sure compliant to rules)